Tag: final-salary pension schemes

Agreement reached over council pensions

Agreement reached over council pensions

After months of talks, employers and trade unions have agreed to introduce career-average pension schemes for all 1.6 million local authority employees. The proposed new scheme, known as LGPS 2014, would start in 2014 as the name suggests. It would require higher paid staff to contribute significantly more to their pension than they do at [...]

June 1, 2012 | 0 Comments More
Women disadvantaged by auto-enrolment changes

Women disadvantaged by auto-enrolment changes

Government proposals to increase the auto-enrolment threshold to £10,000 could put 1.8 million women at risk of missing out on a pension, the TUC has warned. Under the auto-enrolment scheme, which will be phased in from October, private sector employers will automatically enrol workers between the age of 22 years and the state pension age, [...]

February 8, 2012 | 0 Comments More
NAPF issues pensions warning to Government

NAPF issues pensions warning to Government

A report by the National Association of Pension Funds (NAPF) has found that just 23% of final salary pension schemes in the private sector are open to new members, compared with 28% a year earlier. As a result of the findings, the NAPF has issued a warning to the Government to introduce measures to help [...]

November 27, 2009 | 0 Comments More
More firms close final-salary pension schemes

More firms close final-salary pension schemes

It has been revealed that sugar firm Tate & Lyle and newspaper publisher Trinity Mirror are the latest firms to close their final-salary pension schemes. Tate & Lyle blamed the decision on a hike in the scheme’s deficit to £110 million which will see the scheme close to half of its UK workforce next April. [...]

November 9, 2009 | 0 Comments More
Final-salary pension schemes reaches record low

Final-salary pension schemes reaches record low

October 28, 2009 | 0 Comments More
Survey reveals firms considering freezing final-salary pension schemes

Survey reveals firms considering freezing final-salary pension schemes

A survey by accountancy firm PricewaterhouseCoopers (PwC) has revealed more worrying news for the retirement prospects of Britons. The survey by PwC, which polled 1,000 companies, established that 55 respondents are considering freezing their final-salary pension scheme for existing members within the next five years. It appears the trend is growing after banking giant Barclays [...]

June 23, 2009 | 0 Comments More