INCLUDING: UK - Funds not measuring performance; UK - Crum joins Hewitt; UK - ACE launches Elite
Fewer than 2% of UK companies measure returns on pension investment in terms of improved employee and corporate performance and do not understand its impact on shareholder value, according to Alexander Forbes Financial Services. However, Employers did regard pension provision as an important part of their corporate and social responsibility (CSR). In addition, 75% companies saw enabling their staff to retire with financial security as the single most important reason for providing a pension and 64% said it was part of their CSR.
UK - Crum joins Hewitt
Hewitt Associates has appointed David Crum to its public sector investment consulting team from the £9.5bn Strathclyde Pension Fund, where he was chief pension officer for investment. Crum is the latest addition to the Hewitt's UK investment practice following the recent appointments of Caroline Allensby-Green, John Benfield, Tim Currell, Tapan Datta, Yves Josseaume, Robert McElvanney, Zuhair Mohammed and Richard Cooper.
UK - ACE launches Elite
ACE European Group has launched ACE Elite, a portfolio of liability products designed to provide more relevant and appropriate protection in addressing the increased exposure of individuals and their personal assets. Emma Watkins, pension trustee liability (PTL) specialist and product manager at ACE said: "PTL insurance offers wide cover for the individual, sponsoring employer and the pension scheme itself. However, there is a risk that when insurers focus on providing cover for the company this can divert protection away from the individual, therefore exposing trustees to unnecessary risk. ACE Elite PTL adopts a more direct approach and backed up by our robust underwriting and pricing strategy, we aim to redress the balance for trustees."
Ex-BHS owner Dominic Chappell has been ordered to pay a total of £87,000 in fines and court costs after he was found guilty of failing to provide The Pensions Regulator (TPR) with information.
The Department for Work and Pensions (DWP) has said it while believes in the benefits of consolidating defined benefit (DB) schemes, there are significant issues to overcome.
There is just one week left to register to enter the Workplace Savings and Benefits Awards 2018.
Nearly a third (32%) of employers believe new technologies, such as augmented and virtual reality, will play a part in benefits communications, latest research from Aon Employee Benefits reveals.