All Article articles – Page 663
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Three raises pensions take up to 80%
EXCLUSIVE: Three has increased its pension scheme take up from 68% of staff to 80% following auto-enrolment.The mobile phone organisation auto-enrolled 702 eligible employees on 1 October after it had postponed from 1 July to align the process with its flexible benefits enrolment window.Seth Russell, director of reward at Three, ...
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QVC reduces group risk costs by 63%
EXCLUSIVE: QVC has reduced its group income protection (GIP) costs by 63% over the past three years.The home shopping channel, which has 2,000 employees, had historically provided full-term GIP for the 600 members of its defined contribution (DC) pension scheme.It consulted with Towers Watson’s healthcare and risk consulting practice to ...
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McCarthy and Stone raises pensions take up by 45%
EXCLUSIVE: McCarthy and Stone has increased take up in its pension scheme by 45% since it launched a workplace savings platform three years ago.The platform, provided by Hargreaves Lansdown, includes access to a self-invested personal pension, independent savings account and investment account.Since the retirement homes developer launched the platform in ...
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41% have not discussed retirement plans with partners
More than two-thirds (41%) of respondents have never discussed how they will turn their pension savings into income in retirement, according to research by Prudential.Its research, which surveyed 1,996 adults over the age of 40 who currently live with their spouse or partner, found that 19% have discussed this but ...
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A third of 30-somethings not saving for retirement
Almost a third (31%) of respondents in their 30s are not saving anything at all for retirement, according to research by Friends Life.Its GenXpectations research, which surveyed 2,000 individuals, found that more than half (51%) of respondents over the age of 40 said they wish they had saved more for ...
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26% say their employer has no post-maternity return-to-work policy
Around a quarter (26%) of respondents work for employers with no return-to-work policy for mothers returning to work after having a child, according to research by Mumsnet.Its research, which surveyed more than 1,000 users of the parenting website, found that 22% said their employer did not have a phased return-to-work ...
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Article25% of pensions not compliant with DC code of practice
A quarter (25%) of pension trustees surveyed believe their scheme is not at all compliant with The Pension Regulator’s (TPR) new code of practice for trust-based defined contribution (DC) pensions, according to research by law firm Sackers.Its research, which surveyed 44 pension trustees at the 2013 National Association of Pension ...
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Article
16% would call in sick to avoid childcare costs
Around one-sixth (16%) of respondents would call in sick to work to avoid the costs of childcare during half term, according to research by Vouchercloud.Its research, which surveyed 1,612 working parents, looked into childcare arrangements over the half-term period.More than a quarter (27%) intended to use nursery or some other ...
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Article
FTSE 100 directors' total earnings up by 14%
Directors of FTSE 100 companies have seen their total earnings rise by 14% over the past 12 months, according to research by Income Data Services (IDS).The IDS Executive compensation review, which analysed the pay of FTSE 100 company directors, found that the increase was driven by a 58% rise in ...
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Royal Mail calls off strike over pay and pensions
Royal Mail employees have called off their planned strike for 4 November as a result of an agreement being made on changes to pay, pensions and job security between the Royal Mail Group and the Communication Workers Union (CWU).A statement from the two parties said they had made progress in ...
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UK university staff to strike over pay
Employees at UK universities and colleges are striking over pay on Thursday 31 October. Members of the University and College Union (UCU), Unison and Unite are protesting a 2013/14 pay rise of just 1%.The unions are demanding a basic pay rise of at least 3.2% to match inflation. The University ...
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Online flexible benefits on the rise in legal sector
EXCLUSIVE: More than a quarter (26%) of respondents offer online flexible benefits schemes, up from 15% in 2011, according to research by employee benefits organisation Portus Consulting.Its HR in law employee benefits survey 2013, which took data from 122 legal firms, found that, among the top 100 law firms, the ...
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Article
Court blocks offshore bonus tax avoidance scheme
A £31 million offshore bonus tax avoidance scheme operated by Aberdeen Asset Management has been shut down by a Scottish court.The FTSE 100-listed fund manager paid senior employees and directors bonuses free of income tax and national insurance contributions (NICs), between 2000 and 2003, using an employee benefits trust (EBT).The ...
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ArticleLow pay tops reasons for unhappiness at work
The key sources of workplace unhappiness are low pay (36%), little or no variety in job role (25%) and unpaid overtime (22%), according to research by workforce management organisation Kronos.The Forgotten Workforce survey, which questioned more than 2,500 employees, found that feelings about low pay vary by sector, with 42% ...
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Goldman Sachs looks to work-life balance
Goldman Sachs has eased working conditions for its junior investment banking staff by discouraging them from working long hours and at weekends.The investment bank’s move is aimed at changing its culture to retain younger employees. David Solomon, co-head of the investment banking division at Goldman Sachs, said: “The goal is ...
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Article65% of HR professionals feel their pay and bonuses are fair
Nearly two-thirds (65%) of HR professionals are certain that their overall remuneration package is fair considering current market conditions, according to research by recruitment organisation Carlton Senior Appointments.However, its Salaries and bonuses: a comprehensive review, human resources research, which surveyed 140 HR professionals, found that less than half (43%) of ...
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Article
Lloyd’s Superannuation Fund insures DB pension
The Lloyd’s Superannuation Fund (LSF) has concluded a pension insurance buyout for its defined benefit (DB) pension scheme.The transaction, in conjunction with provider Pension Insurance Corporation, covers £40 million of pension liabilities.The LSF is a multi-employer pension scheme that was established in 1929.Its members are employees and former employees of ...
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FTSE 350 pension deficit decreases
The pension deficits of the FTSE 350 reduced from £115 billion at 31 July 2012 to £58 billion at 31 July 2013, while aggregate market caps increased from £1,800 billion to £2,100 billion over the same period, according to research by Hymans Robertson.Its annual FTSE 350 pensions analysis report found ...
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Enhanced redundancy payments for older workers not discriminatory
The judgement, on 11 October, relates to the case earlier this year of Romily Lockwood v Department of Work and Pensions (DWP) and Cabinet Office in which the former administrative officer for the DWP claimed that the voluntary redundancy scheme offered by the organisation discriminated against her because of her ...
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Innocent Drinks staff share £19m bonus payout
Innocent Drinks employees have received a £19 million payout from a long-term bonus share plan following the organisation’s acquisition by Coca-Cola in April.Around 250 staff have benefited from Coca-Cola’s increased investment in the organisation.The drinks organisation agreed a deal with Coca-Cola in the spring, which followed its initial investment in ...