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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 professionalservices firm Aon.
office supplies, equipment, travel, marketing, and professionalservices). Set aside a portion of self-employment income to send to the IRS for quarterly estimated tax payments (and/or over-withhold on a pension or Social Security) to ensure compliance with tax regulations.
In October 2022, professionalservices 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.
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.
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.
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.
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.
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.
Need to know: Crypto currency is still unusual in pay strategies with early adopters predominately technology businesses and the professionalservices firms that support them. Glenn Cameron, investment consultant at actuarial and pension specialists Cartwright, believes one of the currencies, Bitcoin, will become mainstream.
Insurance brokerage, risk management and consulting services firm Arthur J Gallagher has completed acquisition of the partnership interests of BCHR Holdings, otherwise known as Buck. HR, pensions and employee benefits consulting, technology, and administration services provider Buck has 2,300 employees across the US, Canada and the UK.
Employees can also participate in bespoke financial wellbeing workshops, featuring guides, webinars and in-person seminars on topics such as pensions and protection, budgeting , saving and investing.
Credit: JHVEPhoto / Shutterstock.com Professionalservices and accounting firm Ernst and Young (EY) is to allow its UK consultant employees to take time away from their roles. Through the employer’s Employee TimeOut initiative, employees without an assignment from March to August 2024 can leave their role for between four and 12 weeks.
Did you know that boosting the amount you contribute to your pension pot throughout your working life could make you nearly £100,000 better off by the time you reach retirement? Will Writing Service People are often put off getting a will done because it doesn’t feel urgent, but also because of the costs involved.
Pension concerns : Some retirees faced challenges related to the adequacy of their pensions in covering their living expenses. Deloitte UK cost of living bonus Deloitte, one of the world's largest professionalservices firms, maintains a significant presence in the United Kingdom.
It offers pre-retirement seminars focusing on a holistic approach to pensions , tax implications, the psychological impact of leaving work, wills and estate planning, that are primarily aimed at older workers but do get interest from younger staff as well. They pass this on through meetings with each department.
Almost one-third (30%) of UK defined contribution (DC) savers said they prefer a collective defined contribution (CDC) pension for a decumulation option at retirement instead of an annuity or drawdown, according to new research. Those who preferred annuities over CDC pensions cited the lower risk of an annuity as their reasoning.
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