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46% of UK employers prioritise positive DC pension scheme outcomes

Employee Benefits

Nearly half (46%) of UK employers with defined contribution (DC) pension schemes say that delivering positive outcomes for members in this scheme is now their top priority, according to research by global professional services firm Aon.

Pension 105
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Deloitte gives staff control with flexible pension policy

Employee Benefits

In October 2022, professional services firm Deloitte introduced a flexible pension policy that gave its 22,000 UK employees more control over their finances, while still centring the importance of retirement savings. We deliberately structured the new policy to be more pro pensions than it was.

Pension 72
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Epson UK completes £60 million pension buy-in

Employee Benefits

Electronics business Epson UK has completed a £60 million pension buy-in for its Epson UK Pension Scheme. The deal, which was carried out with financial services firm Just Group and scheme trustee Dalriada, secures the benefits of 113 pensioners and 289 deferred members.

Pension 59
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First Milk completes £42 million full-scheme pension buy-in

Employee Benefits

Dairy co-operative First Milk has completed a £42 million full-scheme pension buy-in for its Scottish Milk Retirement Benefits Plan. The transaction, which was carried out with financial services Just Group, secures the benefits of 452 scheme members, of which 292 are pensioners and 160 deferred members.

Pension 59
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Interserve completes £400 million pension scheme buy-in

Employee Benefits

Interserve, a construction firm that went into administration in 2019, has completed a £400 million buy-in for its pension scheme members. The transaction was conducted with provider Aviva, and secured the benefits of more than 7,000 scheme members and follows a £300 million pensioner-only buy-in that took place in 2014.

Pension 59
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65% of pension scheme runners do not know how much members can expect at retirement

Employee Benefits

Two-thirds (65%) of those running pension schemes do not know how much a typical member can expect at retirement, according to Aon’s latest research. Only around one in three (35%) respondents know what sort of pension outcome a typical member of their DC scheme can expect.

Pension 59
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20% of DC pension members opting out or reducing savings

Employee Benefits

One in five defined contribution (DC) pension schemes reported an increase in requests to reduce or opt out of pension savings over the past three months, according to research by Aon. This edition included responses from 132 UK DC pension schemes.

Pension 59