| Pension Reform: Limiting the Squeeze on Business |
| Pension Reform: Limiting the Squeeze on Business |
| British Chambers of Commerce |
| 6 Sep 2010 | United Kingdom | Pension Reform, Administration |
The British Chambers of Commerce (BCC) has published a report entitled "Pension Reform: Limiting the Squeeze on Business", which uncovers the impact that the Pensions Act 2008 will have on business and the UK economy when it is implemented between 2012 and 2016.
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| B256084B | | Click here to contact the authors. |
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| Group Pension Managed Funds Update to 31st August 2010 |
| Group Pension Managed Funds Update to 31st August 2010 |
| Rubicon Investment Consulting |
| 2 Sep 2010 | Ireland | Investment - Performance, Funding and Minimum Funding Requirement, European Union members |
| The returns on Irish pension managed funds fell back slightly in August, with an average return of -0.8% for the month, although some managers did stay in positive territory. |
| CD560718 | | Click here to contact the authors. |
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| Salary sacrifice stirs move to on-line and flexible benefit platforms |
| Salary sacrifice stirs move to on-line and flexible benefit platforms |
| Mercer |
| 2 Sep 2010 | United Kingdom | Scheme Design (inc. DB & DC), Administration |
| According to a survey by Mercer, a growing number of companies are planning to introduce technology platforms to automate their pension and other salary sacrifice arrangements and at the same time enhance the communication and flexibility of their benefit programmes. |
| 6E5606AD | | |
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| Aon200 Index updated |
| Aon200 Index |
| Aon Consulting |
| 2 Sep 2010 | United Kingdom | Surpluses and Deficits, Scheme Design (inc. DB & DC) |
| The Aon200 deficit at 31 August 2010 stands at £97bn compared to £74bn at the end of July 2010 and £78bn at the end of August 2009. |
| AC5605B9 | | Click here to contact the authors. |
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| Enhanced annuities sales continue to break records |
| Enhanced annuities sales continue to break records |
| Towers Watson |
| 2 Sep 2010 | United Kingdom | Annuities and Income Drawdown |
Research by Towers Watson shows that the value of enhanced annuity sales in the UK rose to £1.26bn in the first half of 2010, which represents an increase of 41% compared to the second half of 2009.
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| B25604E6 | | Click here to contact the authors. |
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| Over worked, over stressed and over 40 |
| 'Colourful Lives' Report Chapter Two |
| First Direct |
| 2 Sep 2010 | United Kingdom | Scheme Amendment, Savings, Longevity |
| First Direct has ascertained that happiness does not begin until the age of 54 with 19% of 'Baby Gloomers' citing financial worries as the main reason for their unhappiness. Gloom factors this generation are victims of include the prospect of later retirement, having to work longer to save for retirement and the closing of final salary pension schemes. |
| 32559785 | | Click here to contact the authors. |
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| US pension plan funding at a historic low |
| US pension plan funding at a historic low |
| Mercer |
| 1 Sep 2010 | United States | Funding and Minimum Funding Requirement, Countries - US |
| The funding positions of US pension plans have fallen to historic lows during August due to simultaneously falling equity markets and interest rates. The August decline pushed the health of pension plans, as measured on a mark-to-market basis, to all-time lows as it erased the modest gains made in July. |
| 78560112 | | |
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| Mercer's Scheme Design Survey |
| Scheme Design Survey |
| Mercer |
| 1 Sep 2010 | WORLDWIDE | Scheme Amendment, Scheme Design (inc. DB & DC), Multinational Companies, Funding and Minimum Funding Requirement |
Mercer's Scheme Design Survey analysed responses from 220 multinational companies in the US, UK, Germany, France, Italy and the Benelux countries and found that the evolution of traditional defined benefit schemes is not complete as a third of those questioned are considering making changes to their schemes.
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| 6E559832 | | |
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| 48% of working Brits have never reviewed their pension plans |
| 48% of working Brits have never reviewed their pension plans |
| Baring Asset Management |
| 1 Sep 2010 | United Kingdom | Investment - General |
According to new research, almost 17 million people, or 48% of those in work in Britain, have never reviewed their pension plans.
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| 7D55953A | | |
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| Retirement Attitudes |
| Part I: Confidence in Retirement |
| Towers Watson |
| Sep 2010 | United States | Savings, Funding and Minimum Funding Requirement, Countries - US |
| The Towers Watson Retirement Attitudes survey includes responses from 9,080 full-time U.S. employees at non-Government organisations and finds that more than half of employees across all ages report significant declines in their savings over the last two years. |
| A256026A | | |
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| Simplicity is Paramount for Pension Tax Changes, says Hewitt |
| Simplicity is Paramount for Pension Tax Changes, says Hewitt |
| Hewitt Associates |
| 31 Aug 2010 | United Kingdom | Taxation, Scheme Amendment, Personal Accounts |
| A survey by Hewitt Associates shows that 46% of UK pension schemes want the Government to help individuals avoid one-off tax 'spikes' by providing smoothing through the tax system, such as averaging of the Annual Allowance over a period of three years. |
| 3956002B | | Click here to contact the authors. |
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| DC pension pots recover as annuity rates drop |
| DC Barometer |
| Mercer |
| 31 Aug 2010 | United Kingdom | Scheme Issues & Trends, Annuities and Income Drawdown |
| Mercer has credited cheaper annuity rates and considerable improvements in equity markets for significantly improving the retirement outlook for members of defined contribution pensions compared to only a few months ago. |
| DB5594FE | | |
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| A short guide to longer lives: Longevity funding issues and potential solutions |
| A short guide to longer lives: Longevity funding issues and potential solutions |
| Swiss Re |
| 31 Aug 2010 | United Kingdom | Longevity, Funding and Minimum Funding Requirement |
| Swiss Re's report warns that underestimating life expectancy by just one year can increase a pension plan's liabilities by up to 5%. The report also examines what insurers and reinsurers can do to help address the challenges faced by societies as a result of increased life expectancy. |
| A55593E3 | | |
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| Annuity rates at all time low |
| Annuity rates at all time low |
| Moneyfacts |
| 31 Aug 2010 | United Kingdom | Annuities and Income Drawdown |
Research from Investment Life & Pensions Moneyfacts has revealed that annuity rates have fallen steadily over the summer months. The average rate for a male aged 65 purchasing a level without guarantee annuity has decreased by 6.3% since last August.
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| B95592B4 | | Click here to contact the authors. |
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| Survey on Auto-enrolment and NEST |
| Survey on Auto-enrolment and NEST |
| Association of Consulting Actuaries (ACA) |
| 31 Aug 2010 | United Kingdom | Scheme Amendment, Personal Accounts |
Some of the country's largest employers are beginning to consider the impact of new statutory rules from 2012 that require them to auto-enrol millions of extra employees into workplace pension schemes, with 41% of employers saying that they are ‘likely’ or ‘highly likely’ to reduce future benefits in existing and in new schemes relative to existing ones, to meet the additional cost of these newly pensioned employees.
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| 4655916E | | |
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