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Longevity Risk: Insights From Recent Seminars

Money Talk

Below are six take-aways about some recent seminars that I attended about longevity risk: Ticking Time Bomb - One speaker called longevity risk a “ticking time bomb” in financial planning. For example, instead of two Social Security checks, there will be one, along with a reduced (survivor) pension benefit.

Pension 187
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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. before financial education, to 4.1

Pension 116
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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.

Pension 111
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5 steps to help employees engage with their pensions

Employee Benefits

Given cost of living worries and the notion this may be impacting pension savings, WEALTH at work conducted research* with employees to find out their thoughts into what’s happening in reality. It’s therefore more important than ever to ensure employees are engaged with their pensions.

Pension 105
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What do employers need to know about the pensions lifetime allowance abolition?

Employee Benefits

Credit: Natata/Shutterstock Need to know: The abolition of the pensions lifetime allowance in April will require an overhaul of employee communications, and a revaluation of pension scheme design and administration, including opportunities to simplify the scheme and reduce the cost of running it.

Pension 59
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20% of DC pensions see rises in opting out or reducing contributions

Employee Benefits

A fifth (20%) of defined contribution (DC) pension schemes continue to report increases in members opting out or reducing contributions, according to research by Aon. A number of respondents have reported that they provide a range of seminars to support members.

Pension 52
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Top 10 pension mistakes individuals could make as they approach retirement

Employee Benefits

Most of us spend the majority of our working life saving into our pension. However, all this hard work saving can quickly unravel for those who aren’t aware of common pension mistakes. WEALTH at work outlines below the top 10 pension mistakes individuals could make, to highlight what employees facing retirement may need support with.

Pension 52