All Article articles – Page 686
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UPS staff donated 1.8m volunteer hours in 2012
UPS employees donated a record 1.8 million volunteer hours in 2012.According to the global logistics organisation’s Corporate sustainability report 2012, which was published in July, employee volunteers logged 309,520 hours in October 2012 during Global Volunteer Month, which took the year’s total number of volunteer hours to a new record ...
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TPR investigating 89 employers for auto-enrolment non-compliance
The Pensions Regulator (TPR) has opened 89 investigations into possible non-compliance of auto-enrolment by large employers.Its Automatic-enrolment: Commentary and analysis report includes information on the first six months of auto-enrolment, between October 2012 to the end of March 2013.The investigations, which numbered 89 at 31 March 2013, are focused on ...
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Standard Life partners LEBC for SME auto-enrolment
Standard Life has partnered LEBC to provide a packaged auto-enrolment product to LEBC’s small and medium-sized employer clients. The package includes:Access to online resources for employers to administer their scheme and for employees to join and manage their pension.A suite of member communications to help promote the benefits of the ...
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ArticleThree-quarters of employers using certification for contributions
Most respondents that have auto-enrolled their staff used the option to self-certify to simplify the calculation of pension contributions, according to Employee Benefits/Capita Pensions Research 2013.The research, which surveyed 370 HR and benefits managers, found that 73% of respondents are using this option.Certification rules state that instead of having to ...
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Top ten most read stories this week
Recommendations published on benefits tax rules Royal Mail reduces DB pension liabilities In-house support more prevalent in auto-enrolled organisations Birmingham Council staff save £187,000 via discounts plan Employers use pension provider to communicate How to green a flexible benefits scheme Barclays Cycle Hire staff strike over pay Goldman Sachs ...
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One in seven do not plan to retire
One in seven (14%) respondents do not plan to retire, according to research by Baring Asset Management. This is 12% up on the proportion of respondents that said the same in 2012 and the 10% in 2011, according to Barings’ annual research, which surveyed 1,581 non-retired UK adults. The research ...
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Man United and FA receive Pension Quality Mark Plus
Manchester United and football’s governing body, The Football Association (FA), have become the latest employers to receive the Pension Quality Mark (PQM) Plus for their defined contribution (DC) pension schemes.Manchester United is the first football club to attain the standard for its £578 million trust-based pension scheme, which has around ...
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Gerald Eve sees increase in pensions take-up
Gerald Eve has seen an 11% increase in its pension membership and almost a quarter (24%) of employees have increased their pension contributions since it introduced a workplace savings platform in May.The platform, which is provided by Hargreaves Lansdown, provides the national firm of chartered surveyors and property consultants’ employees ...
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HSBC to launch new global employee share plan
HSBC is to introduce a new international all-employee share plan in the third quarter of 2013.Its Interim report 2013, published on 5 August, stated that the new plan would replace its previous global plan, HSBC Holdings Savings-Related Share Option Plan: International.It will continue to offer its UK employees a sharesave ...
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Zenith launches greenhouse gas emission tool
Zenith has launched a reporting tool to help employers document greenhouse gas (GHG) emissions in their company car fleet and comply with new reporting regulations coming in from October 2013.The product shows GHG emissions across a whole fleet, by car, by manufacturer and split out by types of greenhouse gas.From ...
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PQM to explore setting standard for default funds
The Pension Quality Mark (PQM) is to explore setting tough new minimum standards for default investment funds.The PQM, which is a benchmark for good-quality defined contribution (DC) pension schemes, was introduced by the National Association of Pension Funds (NAPF) in 2009.It wants to add default funds to its list of ...
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Lack of competition raises PMI prices
A lack of competiton in the private healthcare market at a local level has led to higher private medical insurance (PMI) premiums, according to the Competition Commission.Its Provisional findings on privately-funded healthcare services report, which sets out the independent public body’s initial findings, also found that private hospital operators have ...
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The Pensions Trust consults on DB pension closure
The Pensions Trust is consulting with employees about closing its career average defined benefit (DB) pension scheme to future accrual.The consultation began on 1 July and will run until the end of September.The scheme has been closed to new joiners for the past two years.If it is closed, the scheme’s ...
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DHL consults on DB pension closure
DHL is consulting on the closure of its defined benefit (DB) pension scheme to future accrual.The scheme, which covers around 3,500 employees, is scheduled to be closed at the end of 2013.Its Voyager defined contribution (DC) pension scheme, which covers 16,000 employees, will not be affected by the consultation. Employees ...
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Government consults on tax-free childcare
The government has launched a consultation into its new tax-free childcare scheme.The consultation sets out new detail on eligibility for the scheme, for example, stating that parents who are not working because they are on parental leave or because they are carers will be able to claim. The consultation closes ...
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Warrington Wolves launches health cash plan
Warrington Wolves has launched a health cash plan for its office-based staff at the rugby team’s Halliwell Jones stadium.The plan, which is provided by health cash plan provider Paycare, enables 34 administrative employees to reclaim 100% of the money they spend on healthcare services, such as dental, optical and specialist ...
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Hill Dickinson launches salary sacrifice car scheme
Hill Dickinson has launched a salary sacrifice car scheme for around 1,000 eligible UK employees.The law firm’s scheme, which was launched in July and is provided by Zenith, has capped CO2 emissions at 140g/km, to encourage the selection of lower-emission cars and maximise employee savings.Eligible employees can also use Zenith’s ...
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Tusker partners FMG to enhance car scheme
Tusker has partnered fleet optimisation organisation FMG to provide incident management services to employers that offer staff its salary sacrifice company car scheme.The contract will initially cover more than 6,000 cars from more than 110 private and public sector organisations.FMG will provide full incident and repair management services to support ...
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DOD’s blog: let’s stop pensions mis-selling now
The PPI misselling headlines that hit the headlines again this week has got me thinking about workplace pensions.Let’s rewind back to the days when we were being pushed to buy payment protection insurance (PPI) at every turn. Because I had read how bad a product it was, I can remember ...
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DOD’s blog: Childcare vouchers under scrutiny
In recent weeks there has been a flurry of press releases about childcare vouchers landing in my inbox.The reason is clear.We are just about two years away from the proposed workplace tax and national insurance savings on these highly popular perks being removed (for new schemes). Although that could still ...