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News

Keep on top of the latest Wealth Management and Employee Benefits news. You can also access our bimonthly Financial Magazine, keeping the latest Wealth Management news and insights at your fingertips.

Financial Magazines

Archive for 2018

Debt and divorce are top mental health concerns at work

Posted on December 31st 2018

Money worries and relationship breakup are among employees' biggest mental health worries, according to new research from professional services firm Aon.

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One in three homeowners use equity release to pay off mortgage

Posted on December 27th 2018

Over a third (35%) of homeowners, and nearly half (44%) of those in London, have used equity release to clear their mortgage, according to research by Canada Life.

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Employees must be given details of sickness and maternity/paternity leave on day one

Posted on December 24th 2018

New legislation gives workers the right to receive a written statement of their rights, including details of sick leave and pay, when they start a new job.

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DB pension schemes set for record payout over next three years

Posted on December 19th 2018

Defined benefit (DB) pension schemes in the UK are set to pay out almost one-third of a trillion pounds over the next three years, Mercer has predicted.

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Many employees unaware of on-the-spot rewards

Posted on December 17th 2018

Rewarding employees on the spot for good performance can encourage staff to become more engaged and increase their productivity.

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Govt opens consultation on defined benefit pension 'superfunds'

Posted on December 12th 2018

The UK government has launched a consultation on allowing defined benefit (DB) pension schemes to consolidate into 'superfund' entities.

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Small business employees value flexible working

Posted on December 10th 2018

Many employees appreciate being able to work away from the office, either on a regular basis or just occasionally to help ensure a better work/life balance. And while it's easier for larger organisations to accommodate flexible and home working, small firms should also consider allowing it wherever practical.

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First pension dashboard set to launch next year

Posted on December 5th 2018

Pension dashboards will be launched next year, but they won't include state pension data straight away.

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Professional development and wellbeing benefits are top priority for employers

Posted on December 3rd 2018

New research shows that nearly all UK employers (97%) expect to maintain or increase their spend on employee benefits over the next two years.

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Over-50s reluctant to seek financial advice 'risking poorer retirements'

Posted on November 28th 2018

Only half (53%) of Britain's over-50s feel well prepared for retirement and four in ten (38%) worry about it, yet many are reluctant to seek financial advice.

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Using employee benefits to help low earners

Posted on November 26th 2018

Businesses should improve their employee benefit schemes to support lower earners, according to a report by the Work Foundation.

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UK savers wary of stocks and shares ISAs despite higher returns

Posted on November 22nd 2018

People who put their savings into cash ISAs have missed out on £127bn because of a reluctance to invest in the stock market, a new report claims.

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Employers urged to do more to support workers with mental health or musculoskeletal conditions

Posted on November 21st 2018

Seven in 10 employees believe that employers are not taking mental wellbeing and musculoskeletal issues seriously enough in the workplace, according to a poll by health cash plans provider Health Shield.

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Quarter of over-55s unaware of pension tax

Posted on November 14th 2018

One in four people approaching retirement don't realise they have to pay tax when withdrawing cash from their pension savings.

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Government consults on pooled workplace pensions

Posted on November 12th 2018

A new type of workplace pension is set to become available in the UK after the Department for Work and Pensions (DWP) launched a consultation on collective defined contribution (CDC) pension schemes.

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Women face much lower incomes in retirement

Posted on November 8th 2018

From this week, women in the UK will begin to qualify for their state pension at 65, the same age as men.

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Flexible sick pay would help workers with mental health problems, says report

Posted on November 7th 2018

Sick leave and pay should be more flexible to help employees who need to take time off for mental health issues, according to a new report.

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Three quarters of over-55s unaware of enhanced annuities

Posted on November 1st 2018

Retirees may be missing out on thousands of pounds in pension income by not disclosing health conditions or lifestyle choices when buying an annuity.

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One in seven people may have lost track of savings

Posted on October 31st 2018

Millions of financial products have been lost or forgotten, leaving account holders cut adrift from their money, according to new research from National Savings and Investments (NS&I).

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Are UK employees happy with their rewards and benefits?

Posted on October 30th 2018

HR professionals tend to overestimate employee satisfaction with rewards and benefits programmes, new research suggests.

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Four in ten want a flexible reward package

Posted on October 22nd 2018

A new survey has found that more than four in ten (43%) UK employees would like the ability to control their benefits and determine the composition of their reward package.

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UK's 'lost' pensions could be worth £20bn

Posted on October 17th 2018

Nearly two-thirds of UK savers have more than one pension, and changing work patterns means that the number of people with multiple pensions will increase.

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Rise in EAP mental health calls

Posted on October 15th 2018

Growing numbers of UK employees are using Employee Assistance Programmes (EAPs) to seek help for mental health related issues.

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Parents give money early to save on inheritance tax

Posted on October 10th 2018

Parents and grandparents are transferring assets to family members to try to reduce the amount of tax payable on their estates, according to new research.

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Socially responsible investing can boost trust in pensions

Posted on October 8th 2018

Employees who have been auto-enrolled into a workplace pension expect their money to be invested responsibly, new research shows.

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Grandparents hold collective wealth of over £5tn

Posted on October 3rd 2018

Grandparents across the UK hold wealth amounting to over £5tn, or an average of £350,634 each, according to research by Charter Savings Bank.

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Engaging young employees in pension saving

Posted on October 1st 2018

A new industry campaign has been running on Facebook and Instagram to help engage younger employees when it comes to pensions.

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Over-55s spend more time choosing a car than making pension decision

Posted on September 26th 2018

People who are approaching retirement spend more time buying a car than deciding how to use their pension savings, according to research by Legal & General.

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Parents and grandparents providing £18,000 on average to help family members buy a home

Posted on September 25th 2018

Parents and grandparents across the UK are dipping into their pension pots or housing wealth to help family members buy a home, according to research by Legal & General and the Centre for Economics and Business Research (CEBR).

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Women losing out when pensions are overlooked in divorce, warns Age UK

Posted on September 25th 2018

Age UK is calling for urgent reforms to the divorce process so that private pensions are split fairly when husbands and wives go their separate ways.

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Workers taking sick days due to poor wellbeing

Posted on September 25th 2018

Almost three quarters of UK employees admit that their ability to concentrate at work is negatively affected by poor wellbeing, according to research by CABA, a wellbeing charity for chartered accountants.

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Supporting people with mental heath issues at work

Posted on September 10th 2018

One in four people in the UK will experience a problem with their mental health at some point, making it essential to support those affected in the workplace.

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Savers offered too much money to transfer out of DB schemes, regulator says

Posted on September 5th 2018

The Pensions Regulator (TPR) has raised concerns about pension savers being encouraged to leave defined benefit (DB) schemes which offer a guaranteed level of retirement income.

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Employers could do more to support employee financial wellbeing

Posted on September 3rd 2018

UK employers care about the financial needs of their employees, but are they doing enough to support them?

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Pension savers pay £110m in tax for exceeding Lifetime Allowance

Posted on August 30th 2018

More and more people are facing hefty tax bills for breaching the Lifetime Allowance (LTA) for pension savings, according to Wealth at Work, a provider of financial education and guidance in the workplace.

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Third of large firms use health and wellness benefits to improve attendance

Posted on August 28th 2018

Health and wellness benefits can help motivate employees as well as improve their health, contributing to reduced absence rates in large and small firms alike.

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Pension scam victims lose average of £91,000

Posted on August 22nd 2018

A new campaign warns consumers to beware of pension scammers after figures revealed that victims lost an average of £91,000 last year.

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EAPs can help overseas employees cope with stress and anxiety

Posted on August 20th 2018

Moving abroad for work can be a rewarding, but stressful, experience and many firms are falling short when it comes to providing mental health support.

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Just one in four expect to stop work completely at retirement age

Posted on August 15th 2018

The concept of retirement is changing, with growing numbers of people choosing to work past traditional retirement ages, or reduce their hours gradually.

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Young workers keen to prepare for retirement but pessimistic about finances

Posted on August 13th 2018

Young workers in the UK are pessimistic about how much money they will have in retirement but are keen to do what they can to prepare, according to investment advisers State Street.

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Half of firms planning pay rises of over 2% this year

Posted on August 9th 2018

Many employees will see an increase in their total pay this year, according to a survey by the British Chambers of Commerce (BCC) and online recruitment company Indeed.

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Savers risk running out of money seven years earlier by transferring from defined benefit scheme

Posted on August 8th 2018

Pension savers who move out of their employer´s defined benefit scheme risk losing up to seven years of retirement income due to avoidable charges, a new report has warned.

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Stay-at-home parents risk missing out on full state pension, MPs warn

Posted on August 1st 2018

High-earning families who don´t register for Child Benefit could end up with a smaller state pension, the Treasury Committee has warned.

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One in seven may be paying off their mortgage in retirement

Posted on July 25th 2018

One in seven people think they will still be paying their mortgage at the age of 70, according to research by Aegon.

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Pension flexibility leading over-50s to change their retirement plans

Posted on July 18th 2018

A survey by Retirement Advantage found that one in five (20%) over-50s have altered their plans because of the pension reforms, driven by the ability to access all of their pension savings from the age of 55.

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Pensioners paying £3,500/year in income tax

Posted on July 11th 2018

A freedom of information (FOI) request by Royal London has revealed that pensioners across the UK paid more than £24bn in income tax in 2015/16 — the latest year for which detailed figures are available.

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Retirement savers need more support to make the right choices, says FCA

Posted on July 4th 2018

The pension reforms introduced in 2015 mean that savers no longer have to purchase an annuity with their pension savings. Instead, you can choose to access all of your pension savings from the age of 55 or keep part of your pension pot invested in the stock market while drawing down an income from it.

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How are people spending the pension savings they withdraw?

Posted on June 27th 2018

The pension freedoms introduced in April 2015 give people more choice over what they do with their retirement savings, allowing savers to take cash withdrawals or an income drawdown rather than spending the whole lot on an annuity.

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Nine in ten employers offer death-in-service benefits

Posted on June 25th 2018

Almost nine in ten (89%) employers offer death-in-service benefits and the average company pays out between one and two years´ salary, according to research by Direct Line Life Insurance.

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Over 50s increasingly turning to property wealth to fund retirement

Posted on June 20th 2018

One in five over 50s in the UK — around 3.9 million people — plan to use some of their property wealth to fund their retirement, according to research by OneFamily.

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UK workers prepared to pay more into workplace pension

Posted on June 18th 2018

Workers in the UK have embraced auto enrolment and would be happy to pay more than double the current default rate of pension savings, according to a global study by pensions and investment firm Aegon.

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Retirees likely to bequeath rather than use most of their wealth

Posted on June 13th 2018

Most of the wealth held by older people in England will be passed on to later generations rather than used in retirement, according to new research by the Institute for Fiscal Studies (IFS).

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More people are seeking financial advice

Posted on June 6th 2018

Growing numbers of people are choosing to speak to a financial adviser about their finances but the numbers are still low, according to research by Aegon.

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Retirement gender gap continues to shrink

Posted on May 31st 2018

The gender pay gap in retirement is shrinking, but women retiring in 2018 will still have incomes nearly £5,000 lower than men, according to new research from Prudential.

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Company pension schemes seen as most important benefit

Posted on May 3rd 2018

Employees value their company pension scheme above all other workplace benefits, according to new research from Jobsite.

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Auto-enrolment reaches 1 million employer mark

Posted on May 3rd 2018

More than one million UK employers are now meeting their automatic enrolment duties, according to figures from The Pensions Regulator.

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