All Article articles – Page 696
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Civil Aviation Authority launches DB pensions website
The Civil Aviation Authority Pension Scheme (CAAPS) has launched a new website for the 15,000 members of its defined benefit (DB) pension scheme.The member-facing website, which includes details of predicted outcome, contributions, benefits, pensioner payslips and online benefit statements, can be accessed online at any time.The project, completed with communications ...
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NAPF looks to develop at-retirement services
The National Association of Pension Funds (NAPF) has issued a call for expressions of interest (EOI) on the provision of at-retirement services for those saving in defined contribution (DC) pension schemes.The NAPF is interested in working with advisers, brokers and other parties active in the at-retirement market to develop solutions ...
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NAPF appoints chairs of DC and DB Councils
The National Association of Pension Funds (NAPF) has appointed the chairs of its two new policy-making councils.Lesley Williams (pictured), group pensions director at Whitbread, has been elected chair of the Defined Contribution (DC) Council and Robert Brown, senior investment consultant at Towers Watson, has been elected chair of the Defined ...
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Servier Laboratories appoints Aon Hewitt
Servier Laboratories has appointed Aon Hewitt to provide advisory services for its hybrid pension scheme. The pharmaceutical business has 1,000 employees in its £60-million hybrid scheme, which has legacy defined benefit (DB) arrangements and ongoing defined contribution (DC) benefits.Aon Hewitt will provide actuarial, administration, investment, secretarial and DC advice and ...
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Retirement planning still an issue among staff
Nearly a quarter (23%) of respondents have not thought about how they will survive financially when they retire, according to research by Capita Employee Benefits. Its 2013 Spring Capita Employee Benefits survey, which was conducted by Research Now and questioned more than 3,000 employees, found that this response was highest ...
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Maternity leave a concern among working mothers
Nearly half (42%) of respondents are uneasy about their employer’s reaction when they tell them they are pregnant, according to research by QualitySolicitors.Its research, conducted by OnePoll among 1,000 working women who have a child, are considering pregnancy or see it as a possibility, found that 78% of respondents did ...
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JP Morgan increases mortgage advice
EXCLUSIVE: JP Morgan has increased the number of mortgage advice sessions it offers its 14,500 UK employees.The benefit, which was added to the investment bank’s flexible benefits scheme, Elements, from 1 April 2013, is provided by mortgage broker Charles Cameron and Associates.Adam Brooke, employee benefits manager (UK) at JP Morgan, ...
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BlackRock extends access to target date funds range
BlackRock is to extend access to its range of target date funds to meet a surge in demand arising from the government’s auto-enrolment legislation.Workplace pension schemes that use BlackRock for scheme administration, investment funds and member engagement tools can now access the LifePath range of annual target date funds.These were ...
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Absenteeism at record low
Absence from work in the UK has dropped to a new record low, according to research by the Confederation of British Industry (CBI).The CBI/Pfizer Absence and workplace health survey, which questioned HR managers in 153 organisations employing 850,000 people across the UK, found the average absence rate was 5.3 days ...
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Tui UK and Ireland targets staff absence
EXCLUSIVE: Tui UK and Ireland has hosted a wellbeing day to focus on developing a holistic health and wellbeing programme across the business and to reduce its sickness absence levels.The travel organisation’s first wellbeing day was held in June at its head office, where 1,200 employees could visit benefits suppliers ...
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Seven-year sharesave schemes to be abolished
Seven-year savings periods under sharesave schemes are due to be abolished from 23 July.HM Revenues and Customs (HMRC) has not made an official announcement of the change, but has informed sharesave providers that the current prospectuses will not apply from 23 July.Seven-year sharesave contracts will remain available under invitations sent ...
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Siemens UK boosts pensions take-up to 98%
EXCLUSIVE: Siemens UK has seen take-up in its pension scheme rise to 98% since its auto-enrolment staging date.Around 1,000 of Siemens UK’s 13,000 employees were not in its trust-based defined contribution (DC) pension before its auto-enrolment staging date of 1 May.The technology business started communicating auto-enrolment to employees during its ...
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Asda staff to share £61.7m sharesave payout
More than 19,000 Asda employees are to share a payout of £61.7 million under parent organisation Walmart’s three-year sharesave scheme.The payouts will vary from £3,000 to more than £15,000.The supermarket chain’s sharesave scheme allows employees to set aside between £50 and £250 of their salary per month for a three-year ...
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Barclays bonus pool to hit £511m
Barclays Group has allocated £511 million towards staff bonuses in its 2013 Interim results.The £511 million bonus pool includes £94 million of deferred bonus charges.The deferred bonus charge for 2013 remained stable, and there was an expected charge of £1.2 billion relating to future periods for bonus awards granted, but ...
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Sick days cost UK nearly £29bn a year
Sick days are costing UK business nearly £29 billion a year as UK workers take more than four times as many days off work due to sickness as their global counterparts, according to research by PricewaterhouseCoopers (PWC).The research, which is based on data gathered from 2,500 organisations, found that UK ...
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Top 10 most read stories this week
Tui UK and Ireland targets staff absenceSiemens UK boosts pensions take-up to 98% Tax relief does not encourage pension savingSick days cost UK nearly £29bn a yearISS uses Nest to comply with auto-enrolmentBarclays and Benefex partner for auto-enrolment servicesAbsenteeism at record lowTPR publishes code on trust-based DC pensionsBlackRock extends access ...
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SSE receives 3,000 requests for salary sacrifice cars
SSE has received 3,000 requests for cars from employees through a salary sacrifice arrangement since it was launched in May.The energy supplier, which has 20,000 employees, has already received orders for 500 cars.The scheme, provided by Lex Autolease, offers employees a car for a monthly fee, which includes insurance, service, ...
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Staff could make equal pay claims from different establishments
Employers could face equal pay claims from staff even if they are employed on different terms and conditions, and at different establishments from male comparators, following a landmark ruling from the Supreme Court.In the case of North and others v Dumfries and Galloway Council, the court ruled that the council ...
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Work-life balance policies crucial for talent
Individualisation is driving work-life balance strategies and HR policies, which is crucial if organisations are to achieve the talent they require to grow.Speaking at the Employee Benefits Summit in Alicante, Spain, in a session looking at ‘Workplace flexibility as a tool to boost productivity’, Dr Steven Poelmans, professor and director ...
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Lifetime annuities will retain their popularity
Lifetime annuities will remainthe most popular annuity product, according to research by pensions administration firm Equiniti Paymaster.Its 2013 Annuity survey, which questioned 40 service providers, retirement planning consultants, employee benefit consultants and trade bodies, found that 85% of annuity professionals agreed lifetime annuities will retain their position as the most ...