Pensions
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)
Channel sponsored by
Find a supplier
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.
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
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.
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
Case Studies
Skipton Building Society offers staff stakeholder pension
Skipton Building Society offers its employees a company-sponsored stakeholder pension from Norwich Union.
08 Apr Case Study: The International Union for Conservation of Nature
08 Apr Case Study: Honda
08 Apr Case Study: Molton Brown
04 Aug Wolters Kluwer harmonises pension schemes into one GPP
Research
Employers concerned over pensions' value for money
Most employers do not think they are getting value for the money they spend on pensions provision.
30 Jun FTSE 100 firms increase life expectancy assumptions
29 Jun More than a third of adults are without pension
29 Jun Pension funds backed bank remuneration in run up to crash
20 May Reward professionals feel under pressure
19 May Fixed pension administration costs are preferred choice
