All Article articles – Page 695
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Tayto Group launches fleet management system
Tayto Group has launched a tracking, performance monitoring and fuel management system across its 117-strong company car fleet.The system, which is provided by TomTom, adds improved visibility for the snack manufacturer’s mobile team of sales, management and distribution staff.The system enables information about how cars are driven to be collated ...
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Third of respondents unaware of employer's sick pay policy
Nearly 30% of respondents had no idea what their employer will pay them if they have to take sick leave, according to analysis by not-for-profit insurer PG Mutual.The research, which analysed the previously unpublished Pharmacists’ Defence Association (PDA) Survey 2012, which questioned 830 PDA members, found that UK employees are ...
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Employer-paid PMI on the increase
The use of employer-paid private medical insurance (PMI) policies in the UK increased by 2% to 2.98 million in 2012, according to research by healthcare intelligence provider Laing and Buisson.Its Health cover UK market report 2013 found that, of the 58,500 additional company-paid policies, 35,700 were self-insured by employers and ...
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Employers do not see need to invest in retirement education
Almost three-quarters (72%) of respondents do not see the need to invest in retirement education for employees, according to research by Jelf Employee Benefits.Its research, which questioned 124 employers, found that only 28% of respondents think that the removal of the default retirement age (DRA) will lead to an increased ...
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EDF Energy and HMRC named inclusive employers
EDF Energy and HM Revenue and Customs (HMRC) were awarded for their equality and inclusion policies at the Employers Network for Equality and Inclusion (ENEI) Awards on 17 July.The two organisations were awarded top honours for the private sector and public sector, respectively, while housing association Amicus Horizon was named ...
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Doosan to launch online total reward statements
Energy organisation Doosan Power Systems is to launch online total reward statements for its 1,800 permanent UK employees.The statements, which will be launched in September, will replace the paper statements that the employer has issued since 2005.The statements will be hosted and accessed online via Benefex’s RewardHub portal.Nicky McArthur, HR ...
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Current pension system not fit for purpose
Only a fifth (21%) of respondents believe the UK’s current pension system is fit for purpose, and are satisfied with existing defined contribution (DC) and defined benefit (DB) schemes, according to research by Aon Hewitt.Its research, which polled more than 750 employers, looked at the potential impact of the government’s ...
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Zurich enhances corporate savings website
Zurich has launched a revamped information website for members of its corporate savings schemes.The site is designed to help members save towards their retirement and manage other savings products, such as individual savings accounts (Isas) and investment accounts.It includes videos, calculators, animations, tools and guidance to help members understand the ...
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Nest to invest in commercial property
The National Employment Savings Trust (Nest) is to add commercial property to its investment strategy. The organisation has awarded Legal and General Investment Management (LGIM) two real estate mandates.The mandates are intended to provide access to an asset class capable of delivering long-term and sustainable growth for Nest pension scheme ...
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Wilkinson to close final salary pension
Wilkinson is to close its final salary pension scheme to future accrual as part of its plans to comply with the government’s auto-enrolment legislation.The scheme, which has approximately 1,300 active members, will be closed from 31 July. A further 400 retired Wilkinson employees will not be affected.The discount retail chain ...
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Church of England to investigate pension fund
The Church of England is to launch an investigation into its own pension fund after the Financial Times uncovered that it had ties to payday lender Wonga.According to the church, the total amount of exposure to Wonga is £75,000 and the investment in the fund came about through commitments made ...
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Half of default fund members chose this investment option
Nearly half (49%) of respondents in their defined contribution (DC) pension scheme’s default fund chose to be there and did not actually ‘default’ into it, according to research by State Street Global Advisors, the asset management business of State Street Corporation.Its research, which surveyed 1,002 full-time employees belonging to their ...
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LeasePlan updates company car tax guide
LeasePlan UK has published its latest guidance on company car taxation.The inside track: a guide to company car taxation, which has been published in associated with Deloitte, looks at the real-life impact of some of the most recent government announcements relating to company car provision and advises employers how to ...
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DWP publishes call for evidence on DC pensions
The Department for Work and Pensions (DWP) has published a call for evidence on how defined contribution (DC) pension schemes are managed, with a view to setting out standards to protect members.The government has asked the industry for evidence on the current state of pension scheme governance, default options, administration ...
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BMW consults on DB pension closure
BMW Group has launched a consultation into closing its final salary pension scheme to new entrants following several months of negotiations.The group has clarified that the statutory consultation period, which began on 23 July, does not close the door on future discussions.BMW Group employs around 5,000 workers across four UK ...
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DOD’s blog: Dreaming in percentages
Having spent the past week buried in data (for both the about-to-be published Employee Benefits/Capita Pensions Research 2013 as well as our fascinating in-depth analysis on how the main corporate advisers are performing in the UK market) I am beginning to dream in percentages.It is also why I have plenty ...
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DOD's blog: Becoming a bond fundi over pasta funghi lunch
Did you know that the announcement by the USA’s Federal Reserve a few weeks ago to withdraw quantitative easing took a healthy slice of money off the retirement savings pots of UK pension scheme members?No?Me neither. Until I was enlightened to the fact by the lovely Laith Khalaf, head of ...
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L&G master trust awarded PQM Ready
Legal and General (L&G) has received the Pension Quality Mark (PQM) Ready accreditation for its master trust pension scheme.PQM Ready was set up by the Pension Quality Mark, the independent standard that recognises good-quality defined contribution (DC) pensions.To receive PQM Ready accreditation, multi-employer pensions and master trusts need to show, ...
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Aviva launches PMI product for large employers
Aviva has launched a new private medical insurance (PMI) product for large employers.Its Guidewell product, which is available from 1 July, has been designed to manage the rising costs of claims and to help employers control their healthcare spend.The product includes:Open-referral process, so there will be no shortfall in hospital ...
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L’Oreal to postpone auto-enrolment
EXCLUSIVE: L’Oreal is to postpone auto-enrolment by three months to manage its 2,500-strong beauty adviser population, who have unpredictable spikes in their earnings.This particular group of employees receive added commissions around a new product launch and over the Christmas period, but during the majority of the year would not qualify ...