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Buyer’s guide to group personal pension schemes

Employee Benefits

What is a group personal pension (GPP)? A group personal pension is a defined contribution (DC) arrangement whereby an employer agrees to make monthly contributions into a scheme, but the contract is between the employer and the pension provider. The rest will be taxed. What are the origins of GPPs? What are the costs involved?

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How to Keep Personal Information Safe

Money Talk

Widespread data hackings are increasingly common, whether it is a credit bureau (Equifax in 2017), a hotel (Marriott in 2018), an online game producer (Zynga in 2019) a federal government agency (OPM in 2015), or an Internet media company (Yahoo! bank and investment accounts, pension, Social Security) should have a two-factor (a.k.a.,

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UK DC pension schemes down 40% in a decade

Employee Benefits

The UK’s occupational defined contribution (DC) pension market has consolidated by nearly 40% in a decade, data has shown. The Pensions Regulator’s (TPR) 12th annual DC trust report revealed that there were 27,700 DC schemes in December 2021 down from 45,150 in 2011. It also showed a 2% drop in the number of schemes in the last year.

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A quarter of UK employers think DC pension will provide comfortable retirement

Employee Benefits

Only a quarter of UK employers think their defined contribution (DC) pension provision will leave their workers with a comfortable retirement, according to research by Willis Towers Watson (WTW). In order to do this, half are now monitoring retirement adequacy as part of their plan design, up from a third in 2015.

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Kingfisher provides benefits security through bulk annuity purchase

Employee Benefits

Credit: ClimbWhenReady / Shutterstock In the UK, home improvement firm Kingfisher’s pension provision comprises a closed final salary section, with 28,000 deferred and pensioner members, and an open money purchase section, with 70,000 active and deferred members.

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Ninth Circuit Agrees with Third Circuit that “Highest Contribution Rate” for Withdrawal Liability Payment Calculations Excludes PPA Surcharges

Proskauer's Employee Benefits & Executive Compensa

On January 31, 2022, the Ninth Circuit affirmed the lower court’s finding that surcharges imposed by the Pension Protection Act (“PPA”) are excluded from the determination of an employer’s “highest contribution rate” for withdrawal liability payment calculations. of IBT Local 863 Pension Fund v. Welfare & Pension Admin.

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How have pension freedoms impacted retirement planning?

Employee Benefits

Need to know: Increasing education about pensions is key to helping employees make the right decisions about accessing their pension savings early. The ability to access pension funds early could prompt changes to the way that pension providers invest for their members.