Pensions

Employee Benefits - Occupational pension

An occupational pension scheme is retirement savings plan provided by an employer for its employees. Staff who are members of a company pension plan benefit from a favourable income tax and national insurance (NI) break on contributions. The defined benefit plan (final salary) used to be the most popular scheme on offer, but now stakeholder, group personal pension, group self invested personal pension, and money purchase (all defined contribution schemes) are becoming more popular; while there is some interest in career average and hybrid pension arrangements. The pension scheme is a key benefit for employees in the UK, and by 2012 all companies will have to auto enrol all staff into some sort of pension arrangement, or use the incoming personal accounts.

Definition of common pension terms

Key research on occupational pensions (PDF 144kb)

Buyer’s guides

How to evaluate pensions 2007

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News

Wolters Kluwer moves to harmonise perks and increase understanding

Wolters Kluwer has launched a flexible benefits scheme, extended its income protection coverage to all employees and switched to a salary sacrifice pension arrangement to harmonise its reward provision and increase staff understanding.

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30 Jun FTSE 100 firms increase life expectancy assumptions

29 Jun More than a third of adults are without pension

29 Jun Babcock International Group conducts first pensions longevity swap

29 Jun Swinton appoints Friends Provident to provide stakeholder pension

29 Jun Pension funds backed bank remuneration in run up to crash

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Analysis

How employers can prepare for 2012 pension reforms

The Pensions Act 2008, which is due to come into effect in 2012, will, for the first time place a legal duty on employers to enrol most employees into a pension scheme and contribute towards their retirement. The move is aimed at getting an estimated seven million extra workers saving for retirement.

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01 Jun Pensions auto-enrolment ahead of 2012

05 May New analysis: Salary sacrifice no solution to Budget pension changes

05 May Stakeholder pension scheme versus personal accounts

08 Apr Alternatives to occupational pension schemes

08 Apr Closing defined benefit schemes to future accrual

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