Furniture superstore Ikea has announced a plan to pay bonus pension contributions totalling at €100m (£83.6m) per year into its defined contribution (DC) scheme provided the company reaches certain sales targets.
The programme called ‘Tack' (Swedish for ‘thank you') will mean global employees who have worked for Ikea for more than five years, which is around 55% of UK staff, will receive an extra contribution....
The industry constantly talks about the need to engage members. Gregg McClymont says a more important priority is how to ensure all schemes are governed well.
Estimates of the amount of money needed for a ‘modest’ retirement can vary by up to £500,000, according to research from Aon.
Global institutional investors plan to divest 15.6% of their portfolios from fossil fuels over the next ten years, almost tripling outflows of 5.7% planned for next year, as high-profile activism on climate change gathers pace.
Defined contribution (DC) schemes’ visions are generally aligned, but there are mixed views on the power of the default versus member engagement, according to the Thinking Ahead Institute.
AE has successfully brought millions of people into pension savings. But, as Kim Kaveh writes, it is far from perfect.