All Article articles – Page 669
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PeopleValue unveils fuel card voluntary benefit at Employee Benefits Live
This article has been supplied by our channel sponsor, PeopleValue.PeopleValue, a leading provider of motivation solutions serving companies in the UK, launched a new fuel card voluntary benefit product at Employee Benefits Live last week to wide acclaim.The new fuel card proposition was launched at Employee Benefits Live alongside Advantage6, ...
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Grant Thornton overcomes AE postponement challenges
EXCLUSIVE: Grant Thornton opted to postpone auto-enrolling its employees by three months, but found that the move presented significant challenges.The professional services organisation opted to auto-enrol its staff on 1 October, three months after its staging date of 1 July.Employers must offer employees the ability to auto-enrol on their official ...
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Philips insures defined benefit pension
Electronics manufacturer Philips has entered into a bulk annuity transaction for its defined benefit (DB) pension scheme.The policy, with insurer Rothesay Life, is being held by the trustee of the Philips Pension Fund and covers £484 million worth of liabilities.It provides the pension scheme with a secure, low-risk asset with ...
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Employers do not view auto-enrolment as beneficial
More than two-thirds (69%) of respondents do not think pensions auto-enrolment will be beneficial for their organisation in the long term, according to research by Hargreaves Lansdown.Its HL Employer attitudes survey, which questioned 100 employers, found that 76% of respondents think they should get more recognition for implementing auto-enrolment.The research ...
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Appetite for pension de-risking remains strong
The appetite for pension de-risking solutions remains strong among both employers and trustees, according to a report by JLT Employee Benefits.Its Buyout market watch update found that total de-risking deals in 2013 are set to exceed last year’s figure of £4.5 billion.In July 2013, the EMI Group Pension Fund completed ...
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Debbie Lovewell: Publicising benefits is key
Despite investing significant amounts of money developing a benefits package to suit their workforce’s needs, often including a wide range of perks, some organisations then fail to communicate these to their employees properly.When you think of the work that goes into developing a benefits strategy, communication may seem like a ...
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Employee Benefits Awards 2014 open for entries.
The Employee Benefits Awards 2014 offer reward and benefits professionals the ideal opportunity to showcase, and gain recognition for, the outstanding work they have done over the past 12 months.This year, employers are encouraged to enter initiatives they have introduced during the past year, as well as successful longer-running benefits ...
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Oxfam launches EAP
EXCLUSIVE: Oxfam has launched an employee assistance programme (EAP) for its 1,300 UK-based employees.The programme, provided by CIC, replaces an in-house service previously offered by the charity. The EAP offers 24/7 telephone assistance and face-to-face counseling, as well as debt and legal advice, support with family care and everyday matters, ...
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More than 1.6m staff auto-enrolled into pensions
More than 1.6 million eligible employees have been enrolled into an auto-enrolment pension scheme, according to a registration report published by The Pensions Regulator.Its Automatic-enrolment report, which covers the period between July 2012 and August 2013, also found that an additional 2.5 million employees who work at organisations that have ...
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Reforms to shareholders’ role in executive pay come in
Reforms proposed by the Department for Business, Innovation and Skills (Bis) on executive pay came into force on 1 October 2013.As a result of the reforms shareholders of around 900 UK-quoted companies will now be better prepared to hold companies to account. They will have access to clearer information on ...
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National minimum wage increases
The national minimum wage has increased by 12p to £6.31 an hour for adults on 1 October.The rise follows recommendations made by the Low Pay Commission in April 2013.Other changes include:Employees aged between 18 and 20 years will see a 5p rise, from £4.98 to £5.03.Employees under the age of ...
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Workplace savings platforms assets approach £2bn
Total assets of the UK’s eight major workplace savings platforms are approaching £2 billion, according to an update published by The Platforum in association with The Lang Cat.Its second Workplace savings platform guide found that, as of the second quarter of 2013, an estimated 249 employers have adopted a workplace ...
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Staff make provisions to avoid annual allowance threshold
More than 16,000 UK workers who contribute to registered pension schemes made contributions in excess of the £50,000 annual allowance threshold by using the carry-forward provisions, according to research by Kuber Ventures.The research, which analysed data from HM Revenue and Customs (HMRC) for pension contributions in the 2011/12 tax year, ...
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Mercer launches master trust service
Mercer has launched a master trust service through its workplace savings platform.The service will enable employers to select from three providers: Aegon, Friends Life and Zurich. Service levels have been agreed with each provider.Mercer has also appointed BESTrustees as independent trustee for the service.The master trust service has been designed ...
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PruHealth to launch integrated health product
PruHealth is to evolve its private medical insurance (PMI) scheme and its Vitality wellness programme into a new Lifestyle Health Insurance product.Its new offering, which will be introduced on 1 January 2014, will provide employers with a platform to offer employees a full integration of PruHealth’s products and services.The Lifestyle ...
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Prysmian Group to launch global share plan
Energy and telecom systems organisation Prysmian Group is to launch a global share scheme for around 16,000 employees in 27 countries.The scheme, which is called YES (Your Employee Shares), offers staff the opportunity to buy shares in the organisation at a discount of up to 25% on market price, or ...
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New financial education provider to launch
A new financial education software provider is to launch in the UK in November.The launch of Nudge is in response to unhealthy finances and money-related stress in the workplace.It aims to improve the lifestyle of individuals by changing their financial decisions via its online software Quantum, which has been developed ...
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FTSE pension schemes not diversifying
Over the past 12 months, 85% of a selection of FTSE companies have not made any significant changes to the asset allocation of their defined contribution (DC) pension schemes, according to research by Schroders.Its second FTSE DC report, which studied the pension investment allocations of 16 FTSE 100 companies and ...
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Demonstrating ROI is top priority for HR
More than a third (35%) of respondents named demonstrating return on investment (ROI) as their number one priority over the next 12 months, according to research commissioned by PMI Health Group and conducted by Imperial College Business School.The research, which surveyed HR directors and managers for large UK organisations, found ...
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PTL launches DC governance products
Pitmans Trustees Limited (PTL) has launched a suite of products to help employers establish a governance framework for their defined contribution (DC) pension schemes.The products, called ‘Lifetime: DC governance focused on members’, is a package of tools developed specifically for DC pensions, including trusteeship, group personal pension (GPP) governance and ...