All Article articles – Page 667
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UK pension system not fit for purpose
The UK pension saving system is out of date and not fit for purpose at a time when retirement prospects in the UK are more uncertain than ever, according to a report by independent pensions expert Dr Ros Altmann (pictured) and sponsored by MetLife UK.The Pensions – time for change ...
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Ceridian launches auto-enrolment product for SMEs
Ceridian has launched an off-the-shelf auto-enrolment product for small and medium-sized employers (SMEs).The technology and service providers’ product aims to help organisations with between 499 and 59 employees that will reach their staging date in 2014 and reduce the administrative burden of complying with auto-enrolment.It is delivered through Ceridian’s HRevolution ...
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Kodak Pension Plan to set up new DB scheme
The Kodak Pension Plan (KPP) is to launch a new defined benefit pension scheme for its members.Almost all (92%) of the previous scheme’s members voted in favour of the establishment of the new plan, while less than 1% voted to enter the Pension Protection Fund (PPF) and 7% have yet ...
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2 Sisters Food Group to launch voluntary perks
2 Sisters Food Group is to launch a voluntary benefits plan, an employee assistance programme (EAP) and an online health assessment programme in November 2013.The benefits, which are provided by Personal Group, will be available to the food manufacturer’s 24,000 employees at 47 locations around the UK.The scheme will also ...
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JLT Employee Benefits completes DB pension buy-in
JLT Employee Benefits has completed a buy-in contract with Prudential for its defined benefit (DB) pension scheme.The JLT UK Group Pension Scheme, which has liabilities of £120 million, has purchased an annuity to secure future benefit payments, reducing the volatility of the scheme’s projected funding requirements.The scheme has around 4,000 ...
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Vision Service Plan launches in the UK
EXCLUSIVE: Vision Service Plan (VSP) has extends its eyecare offering to employers in the UK.The US eyecare provider, which works with 40,000 employers in the US, will offer optical benefits to employers, encouraging them to create wellness programmes for their employees through eyecare.VSP is working with the Association of Optometrists ...
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Public sector pay still higher than private sector
Public sector employees in the north east, Merseyside and south west of England earn as much as £3,200 more than their equivalents in the private sector, according to analysis by think tank Policy Exchange.Its report, which analysed the Office for National Statistics’ Labour force survey, published between January and March ...
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94% offer annual bonuses to staff
The vast majority (94%) of respondents offer an annual bonus to a broad range of their employee base, according to research by Towers Watson.Its research, which surveyed 120 employers, found that, despite challenging economic conditions, respondents said bonus payouts have remained at, or near, target levels over the past few ...
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DOD’s blog: The summer I broke down
Yesterday was World Mental Health Day. A day, I hope, many people took note of.I have particular empathy with people who are struck down with stress or depression because I have been there myself.In a nutshell, it was an accumulation of various events, mostly work-related, that led to my annus ...
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Desk lunches are good for you
Who knew that sitting at a desk for the whole day, even through lunch breaks, could actually be good for you?A new survey has found that enforcing lunch breaks for employees may actually cause them to be more tired than allowing them to work during lunch hours.Earlier this year, health ...
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The top 10 most read stories this week
1. Bank of America extends smoking cessation plan2. Demonstrating ROI is top priority for HR3. New guidance on public sector pension transfers4. Tax on benefits-in-kind should be equal5. Ineos Refining consults on DB pension closure6. 22% of staff feel supported when stressed at work7. PruHealth to launch integrated health product8. ...
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Mills & Reeve aligns auto-enrolment with flexible benefits
EXCLUSIVE: Mills and Reeve has aligned pensions auto-enrolment with its annual flexible benefits enrolment window.The law firm has 888 UK employees, but will also include 80 new employees who are part of the June 2013 merger with law firm George Davis.Samantha Neaves, reward and HR information systems manager, said: “Following ...
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BT and Unilever focus on depression at work
Large European employers, such as Barclays, BT Group, Deutsche Post DHL, Royal Mail Group and Unilever, have launched an initiative to combat the impact depression and its cognitive symptoms have in the workplace.The employers, which collectively employ more than 600,000 employees in Europe, have formed a steering committee, called Targeting ...
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Ardagh Group staff accept pay deal
Ardagh Group employees have accepted a 6% pay rise over two years.Staff at the packaging organisation’s glass sites in Yorkshire and Scotland, who are members of the union Unite, have voted in favour (80%) of accepting the pay rise, which is an improvement on the 5.5% that had previously been ...
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Pay inflation at highest level since 2008
Permanent salary inflation increased in September, reaching its sharpest growth since February 2008, according to research by the Recruitment and Employment Confederation (REC) and KPMG.The Report on jobs, which draws on original survey data provided by recruitment consultancies, found that temporary pay inflation also accelerated, with the latest rise only ...
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Almost 600,000 Londoners stuck in low pay
Almost 600,000 Londoners, equivalent to one in seven employees, have been stuck in low pay for at least a year, according to research commissioned by Trust for London and carried out by the Centre for Economic and Social Inclusion (CESI).Its Work in progress report, which surveyed more than 100 employment ...
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Dr Benjamin Reid: How can employers offer benefits to suit allgenerations?
The days of treating all employees as a ‘lump’ of labour, with the same package or deal across the board, are long gone. How to segment the workforce is therefore a pressing issue, and triaging by generation is an increasingly popular approach, of which the report Talking about my generation: ...
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Pg 16-17 – Interactive – The month in numbers
3,000 – The number of Mitie Group employees in its latest sharesave scheme (see Mitie Group integrates employee benefits across businesses).£182 – The amount per week an employee must be earning to be auto-enrolled into a workplace pension (see The challenges of auto-enrolling weekly-paid employees).6 – The number of management ...
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Ineos Refining consults on DB pension closure
Ineos Refining is consulting with employees on the closure of its defined benefit (DB) pension scheme.If it does not do so, it faces the risk of having to close its Grangemouth petrochemicals plant near Falkirk, Scotland. The plant, which provides nearly all of Scotland’s petrol and diesel, will close before ...
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Bank of England and FCA respond to remuneration report
The Bank of England and the Financial Conduct Authority (FCA) have both published their responses to a report on a revised remuneration code for the banking industry.The Changing banking for good report, which was published by the Parliamentary Commission on Banking Standards (PCBS) in June 2013, made a series of ...