All Article articles – Page 655
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Global retirement age will be 67 by 2050
Most countries will have a retirement age for both men and women of at least 67 years by 2050, according to research by the Organisation for Economic Co-operation and Development (OECD).The report, Pensions at a glance 2013, found that this represents an increase from current levels of around 3.5 years ...
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Employers unaware of shares for rights scheme
More than three-quarters (80%) of respondents have never heard of the government’s employee shareholder scheme, according to research by law firm, Irwin Mitchell.The research, which surveyed 500 UK employers, found that, out of the 20% of respondents that said they were aware of the scheme, only 1% said they were ...
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Ensign launches pensions communications product
Ensign Pensions Administration has launched a product to help pension scheme members communicate with their scheme administrators. The product, Intouch, provides video communications services, which enable employees to receive live face-to-face support from the administration team that looks after their pension.The calls are designed to help employees share and review ...
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Employers align auto-enrolment with flexible benefits enrolment
For example, law firm Mills and Reeve was able to align its auto-enrolment staging date, which was 1 November, with its annual flex enrolment window, which opened on 1 October.The employer already had an 85% take-up in its group personal pension (GPP) plan, and the remaining 15% of staff who ...
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H&M pledges to pay factory workers a living wage
Fashion retailer H&M has pledged to pay a living wage to its 850,000 textile employees by 2018.The Swedish organisation, which has more than 200 UK stores, said it would support two of its factories in Bangladesh and one in Cambodia in 2014 to adopt a fair living wage.H&M intends to ...
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Edwards Group and IGas Energy awarded for share schemes
Edwards Group, IGas Energy and Pearson are among the winners of the Employee Share Ownership (Esop) Centre Awards 2013.The awards, which were presented earlier in November, recognise examples of excellence in the provision of all-employee share schemes.Edwards Group, a manufacturer of vacuum pumps and abatement technology, was awarded ‘Best employee ...
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Zero-hours workers are happy with work-life balance
Employees on zero-hour contracts are more likely to be happy with their work-life balance than other workers, according to research by the Chartered Institute of Personnel and Development (CIPD).Its research, Zero-hour contracts: myth and reality, which surveyed more than 1,000 employees, was published in collaboration with law firm Lewis Silkin ...
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Jelf Employee Benefits to launch international division
Jelf Employee Benefits is to extend its international proposition with the launch of Jelf International.The aims of the standalone international division is to emphasise the extent of the full consultancy and holistic service now available, respond to existing employer demand for a broadening of products and underline the importance of ...
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Use of asset-backed contributions on the rise in small pensions
The use of asset-backed contributions (ABCs) to fund smaller pension scheme deficits is on the rise, according to research by business advisory firm Deloitte.Its research, Pension funding solutions: the evolving ABC market, found that 80% of ABCs in 2013 were used to fund deficits of less than £100 million, up ...
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Christmas bonuses not popular
The supermarket chain’s 180,000 staff shared a £17 million festive bonus, which included a £20 Asda gift card, £5 each towards a Christmas party, and a free meal.But according to Edenred’s Saying thank you at Christmas 2013 survey, two-thirds (65%) of employee respondents do not expect to receive a Christmas ...
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Employee Benefits magazine – December 2013
Read Employee Benefits digital Some of the key articles include:Review of the 2013 benefits landscape in Highlights (page 22).Ranked 15 in the Sunday Times 100 Best companies to work for, NCFE shows how being a great employer is much more than just paying a good salary. Find out how they ...
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Employee Benefits Awards offer coverage for employee brand
Guy Hayward, chief executive officer of Goodman Masson, explains what it means to win an Employee Benefits award.The recruitment organisation won ‘Best reward strategy aligned to business strategy’ at the Employee Benefits Awards 2013. It had integrated its inclusive reward strategy into its business culture to create a package to ...
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Abercrombie staff entitled to guaranteed payments
The Court of Appeal has found in favour of hourly-paid employees at US clothing retailer Abercrombie to claim guarantee payments for workless days.In the case, Abercrombie and Ors v AGA Rangemaster Ltd, staff agreed to work a four-day week under a temporary agreement that had been made through their trade ...
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Care workers paid below minimum wage
More than 2,400 employees in the care sector have been paid below the national minimum wage over the past two years, according to an investigation by HM Revenue and Customs (HMRC).HMRC looked at jobs across the sector and investigated 224 employers, with some investigations still ongoing.Eighty-eight cases have been found ...
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Local government pension scheme is in crisis
The Local Government Pension Scheme (LGPS) is in crisis, according to a report by the Centre for Policy Studies.Local government pension scheme: opportunity knocks, authored by pensions analyst Michael Johnson (pictured), found that these pension schemes are so under-funded, they are consuming their assets to meet pensions in payment.Using evidence ...
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18% have not had a pay rise in three years
Almost one-fifth (18%) of respondents have not had a pay rise for three years or more, according to research by MetLife UK.Its research, which surveyed 2,870 working adults, found that respondents over the age of 45 are the most likely to suffer pay freezes.While the research found that 18% of ...
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Debi O'Donovan: What happened in 2013 to influence 2014?
But it has been interesting to note how workplace wellbeing has been growing steadily over the years and is predicted to become more of a focus in the years ahead.The reasons are well known to us and include the ageing workforce and increases in obesity, diabetes and cancer among workers.We ...
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Strikes point to employer caution over pay rises
Staff from Royal Mail Group called off strike action after the newly privatised organisation agreed to improve its pay and reward offer.Post Office employees, who had not received a pay rise since April 2011, called off a planned strike over pay after receiving a letter from the organisation’s chief executive ...
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Three pensions consultations announced in November
Consultation on defined ambition pensionsThe Department for Work and Pensions’ (DWP) proposal to introduce a defined ambition pension was first mooted in November 2012.The consultation, which will close on 19 December, proposes a defined ambition pension to create more certainty for employees, share investment risks more equally and help employers ...
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ArticleWorkplace pensions report 2013
Read the digital edition of the Workplace pensions report 2013.The supplement includes the following articles:Facts and figures on pension schemesHow much do staff need to contribute for a comfortable retirement?Helen Powell: Employer’s role in improving members’ outcomes Molson Coors Brewing Company seeks pensions understanding Contract-based pension scheme comparison table How ...