Pensions & employee benefits roundup – July 2016

Gareth Davies, 14 July 2016

Throughout the month our research team keep a close eye on what is happening in the pensions and employee benefits industries. Here is a roundup of the best news articles and stories for June 2016.

52% never leave the office at lunchtime
Employee Benefits, 6 June

More than half (52%) of respondents never leave the office at lunchtime, according to research by the National Charity Partnership, a collaboration between the British Heart Foundation, Diabetes UK, and Tesco.

Should employees trust a robot at-retirement?
REBA, 8 June 

Survey findings from The Pensions and Lifetime Savings Association research found that over half (52%) of those who expressed a preference for how they were going to access their pension savings thought drawdown would provide a guaranteed income, almost a quarter (23%) thought income drawdown was risk-free and a quarter (25%) of all respondents thought their whole pension was tax-free.

86% go into work with an infectious illness
Employee Benefits, 9 June

More than eight in 10 (86%) respondents will go into the workplace with an infectious illness, according to research by GP video consultation service Pushdoctor.co.uk. Its survey of 1,014 UK employees also found that 88% of respondents feel uncomfortable phoning in sick when ill.

48% do not have an employee wellbeing strategy
Employee Benefits, 13 June

Almost half (48%) of UK employer respondents do not have an employee wellbeing strategy in place, according to research by Close Brothers Asset Management.

Seven in 10 people don't shop around for the best pension product
Moneywise, 14 June

The report shows that those respondents who bought annuities were also most likely to shop around before they made a decision (57% did so). This compares to two in five (39%) of those who bought a drawdown product and just 14% of those who decided to take their whole pot out. The survey is based on a relatively small survey of 500 people who have accessed their pensions.

One in three workers will be aged 50 or over by 2024
The Telegraph, 15 June

Figures published today by the Office for National Statistics, show that nearly 10 million workers aged 50 and over are now in employment, the largest number since records began in 1992. Over the period the proportion of over fifties in the workforce has risen from a fifth (21%) to almost a third (31%).

Surge in people seeking help from Citizens Advice with their pensions
Citizens Advice, 15 June

Citizens Advice helped people with 12,898 issues related to personal pensions in the last year, compared to 6,658 the previous year - a rise of 94%. Queries ranged from questions about the tax implications of different pension options through to auto-enrolment issues.

Number of retired people renting in UK soars in last four years
Property Wire, 17 June 

The number of people living in private rented accommodation in retirement in the UK has soared by more than 200,000 in the last four years, according to a new poll. Overall, the survey from the National Landlords Association (NLA) shows that the proportion of retired private renters has grown by 13% since 2012 as more and more people turn to the private rented sector.

EU Referendum: Capita Comment
Capita, 24 June

Following the result from the EU referendum, Bobby Riddaway, head of investment consulting, provides some immediate thoughts in relation to DB pension schemes. Key points include how to manage market volatility and deal with times of uncertainty.

About the author

Gareth Davies Head of Research and Engagement

Gareth Davies