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Top tips for boosting employees’ pensions knowledge 

Employee Benefits

Need to know: Employers can tailor content and communication channels to different employee groups to help with their pensions knowledge. Losing the jargon will make the language of pensions easier to understand and more relevant to staff. They could invest in financial coaching for a more personal approach to pensions education.

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How employees can track down lost pensions and guidance on pension consolidation

Employee Benefits

lost pension pots in the UK, worth around £26.6 billion WEALTH at work explains how employees can track down lost pensions and provides guidance on whether to consolidate The total value of lost pension pots has grown from £19.4 million lost pension pots sitting unclaimed because they’ve been simply lost or forgotten about.

Pension 105
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BT boosts employees’ pension knowledge with financial education programme

Employee Benefits

So far, it has been delivered to approximately 80,000 of its UK employees. Kerry Shiels, pension and benefits director at BT, says: “It is very important that employees understand their BT pension and the retirement decisions they will need to make in the lead up to, and at, retirement.

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How to conduct a pensions buy-in

Employee Benefits

A buy-in is a contract between a defined benefit pension scheme and an employer that removes longevity, market, interest and inflation risks. With this in mind, what is a pensions buy-in and how is it conducted? If an investment strategy underperforms, it may not generate sufficient returns to pay pensions in the future.

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Poll: Do you think the pension pot-for-life plans announced in the Autumn Statement will help employees to manage their pension?

Employee Benefits

Last week, Employee Benefits reported that Chancellor of the Exchequer Jeremy Hunt announced plans to offer a pension pot for life in the Autumn Statement 2023. In light of this, do you think the pension pot-for-life plan will help employees to manage their pension? appeared first on Employee Benefits.

Pension 59
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Boots completes £4.8 billion pension scheme buy-in

Employee Benefits

billion pensions buy-in. Alan Baker, on behalf of Law Debenture, as chair of trustee, Boots Pension Scheme, said: “This agreement with Legal and General gives added protection to our members’ long-term benefits by removing market uncertainty and other financial exposures. The post Boots completes £4.8

Pension 59
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SSE accredited as living pension employer

Employee Benefits

Credit: Alasdair Jones / Shutterstock.com Scottish energy firm SSE has been accredited as a living pension employer to provide financial stability and security. The living pension savings target is 12% of a full-time employee earning a living wage salary , of which the employer pays in at least 7%.

Pension 59