Pensions & employee benefits roundup – October 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 September 2016.
Research from the TUC found that ill-health or disability is forcing one in eight people to stop working before they reach the state pension age.
Lifetime ISA on track for April 2017 launch
Money Savings Expert, 7 Sept
The Government is to push ahead with the launch of the Lifetime ISA in April 2017 – despite speculation it could have been axed after George Osborne was replaced as Chancellor.
The pensions industry has agreed to launch a long-anticipated ‘dashboard’ that will allow savers to see all their workplace savings in one place – the Treasury has now announced that a prototype will be launched by March 2017.
Pension deficits reach a record £459bn as interest rate cut bites
The Telegraph, 13 Sept
DB pensions have plumbed further depths during August, reaching another record-breaking deficit of £459.4 billion. The remaining 6,000 DB schemes can now meet just 76.1% of their obligations to pensioners, according to the sums used by the Pension Protection Fund.
A 'golden age' of retirement has seen pensioner incomes nearly double in the past two decades but this era is now drawing to a close, a new study from Aegon finds.
66% of managers believe the average retirement age will increase in their organisation
Employee Benefits, 21 Sept
Two thirds (66%) of manager respondents believe the average age of retirement in their organisation will increase over the next five to 10 years, according to research by AXA PPP Healthcare.
A third of Brits check their phones at night
Broadband Choices, 26 Sept
People in the UK are so attached to their mobiles that a third check them in the middle of the night according to a new survey from Deloitte, which looked at mobile phone adoption in the UK.
Living with a partner ‘halves risk of being overweight’
Health Insurance Daily, 26 Sept
Living with a partner can half the risk of becoming overweight for people at risk from unhealthy lifestyles, researchers from Yokohama City University have discovered.
17% have taken a long-term absence from work
Employee Benefits, 26 Sept
Almost a fifth (17%) of employee respondents have been off work for four weeks or more because of an illness, accident or injury in the last 12 months, according to research by Legal and General.
Workplace DC savers sleepwalking into income black hole
Actuarial Post, 29 Sept
According to new research commissioned by Columbia Threadneedle Investments and conducted by the Pensions Policy Institute (PPI), a large percentage of those paying into the most common form of workplace pension - a defined contribution (DC) scheme – are not proactively choosing where to invest their savings.
The Cashflow Crunch
Capita Employee Benefits, 29 Sept
Bobby Riddaway, head of investment consulting, discusses the impact of the market volatility on experienced since the EU referendum decision on DB pensions.
Half of employees feel depressed at work
Health Insurance Daily, 30 Sept
Half of UK employees feel depressed and work and 44% are stressed on a regular basis, a poll shows. The survey of 2,000 employees by cash plan provider Benenden found 87% of employees blame their workplace for making them ill.