All Article articles – Page 728
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Chinese boss outsources daughter's homework to staff
Something for the weekend …A savvy boss in China sneakily outsourced his 12-year-old daughter’s homework assignments to nine of his employees.According to local newspaper, the Qianjiang Evening News, the demanding daughter forced the employees to stay up late for two nights because, instead of picking one homework option from a ...
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Saving for retirement not top priority
Only one-fifth (21%) of respondents said that saving for retirement was their top financial priority, according to research by Friends Life.Its survey of 1,600 employees over the age of 50, found that this age group is more focused on making ends meet (23%), saving for holidays or leisure activities (15%) ...
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Premier launches online retirement service
Premier has launched an online retirement service for both employers and trustees.The web-based service, Gateway2Retirement, is aimed at helping employees understand all of their pension options, and guiding them to the right one for them, whether it is an annuity, a drawdown pension or a phased retirement.For instance, if annuity ...
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Wealth at Work launches retirement options service
Wealth at Work has launched a retirement income option service, which is designed to ensure employees maximise their retirement income.The service includes:Financial education, which will ensure employees understand the retirement income options available to them.Internet support tools to help support employees on all aspects of retirement which are easily accessible ...
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MetLife launches master trust for SMEs
Insurer MetLife has launched a master trust for small and medium-sized enterprises (SMEs).The MetLife Master Trust helps employers insure lump-sum death benefits for staff and their partners to avoid the cost and administrative time involved in setting up their own pension scheme, as well as having to appoint trustees and ...
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Killik launches wealth management service
EXCLUSIVE: Killik Employee Services, a division of Killik and Co, has launched a wealth management service aimed at helping senior executives achieve full value from equity participation in their employer.The service, called Encompass, focuses on ways that share participation, whether through share schemes or direct acquisition, can be used to ...
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JLT Wealth Management launches retirement service
JLT Wealth Management has launched a range of services to ensure that employers can provide their workforce with effective pre and at-retirement advice.The service, called Road to Retirement, supports employees in both defined benefit (DB) and defined contribution (DC) pension schemes.It includes:A pre and at-retirement information pack for all employees ...
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Sergeant review of financial products published
An independent steering group set up by the government has published its final recommendations, Sergeant review of simple financial products, on simplifying financial services products, such as life insurance products and savings accounts.While the report does not immediately change anything for employers, it does indicate that they should play a ...
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Unpaid parental leave extended
The right to unpaid parental leave for parents with children under the age of five will be extended from 13 to 18 weeks from 8 March.The change is being made under the revised Parental Leave (EU Directive) Regulations 2013, which were originally due to come in to effect from March ...
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FTSE pension schemes invest mainly in equities
More than three-quarters (79%) of average asset allocations for FTSE 100 and FTSE 250 defined contribution (DC) pension schemes are in equities, according to research by asset management firm Schroders.The DC default research, which looked at 16 FTSE 100 companies and nine FTSE 250 companies, found that global equities, including ...
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Do not try to engage staff in pension investments
It is a bad idea to try to engage staff in their pension pots, said experts at the National Association of Pension Funds Investment Conference 2013, held in Edinburgh.Employers and pensions professionals running defined contribution (DC) contract-based pensions schemes, such as group personal pensions (GPPs) and stakeholder pensions, should reconsider ...
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Employers do not monitor wellness strategies' outcomes
Only 9% of employer respondents actively monitor and measure specific outcomes of their workplace wellness strategy against original objectives, according to research by Buck Consultants.Its Working well: a global survey of health promotion and workplace wellness strategies report, found that 74% of respondents do not measure the impact of their ...
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Planned rise in fuel duty scrapped
Budget 2013: The planned 3% rise in fuel duty has been scrapped.In the 2013 Budget, Chancellor George Osborne announced the government would cancel the 1.89 pence per litre increase, which was due to come in effect on 1 September 2013, because of the impact negative impact high pump prices have ...
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TR Fleet partners Specsavers for driver risk management
Fleet consultancy TR Fleet has formed a partnership with Specsavers Corporate Eyecare to tackle the issue of poor eyesight and driver safety.Employers that use TR Fleet’s DriveSecure risk-management programme issued with Specsavers vouchers for free eye tests for their staff.The system will identify the drivers who are considered to be ...
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UK employers overlook grey fleet driver safety
UK employers are failing to adequately implement driver safety initiatives for employees who use their own cars for work, according to research by services company Fleet21.The Fleet21 business driver report revealed that 31% of employers surveyed did not check whether grey fleet drivers had the correct business car insurance, while ...
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Social investment fund is most popular default
More than three-quarters (77%) of respondents would prefer to contribute to a social investment fund rather than a conventional fund when selecting the default fund for a defined contribution (DC) pension scheme, according to research by Standard Life Investments.Its research, Identifying new ways to engage with savers in defined contribution ...
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Mercer launches new DC pension and workplace savings division
Mercer has created a new defined contribution (DC) pension and workplace savings division.The consultancy has also appointed Brian Henderson (pictured) as UK leader for the division. Henderson has been a partner at Mercer since 2008, most recently as DC leader for investments in the UK. He has also been a ...
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OECD publishes report on DC pensions
The Organisation for Economic Co-operation and Development (OECD) has published a report summarising the challenges that policymakers face around defined contribution (DC) pension schemes.The OECD Roadmap for the good design of DC pension plans, recommends key improvements that can help ensure DC pensions deliver the incomes that individuals need to ...
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WPA launches medical diagnostic cover
Health plan provider WPA has launched a service to help cover employees’ private consultations and diagnostic procedures.Swift Diagnosis has been designed to enhance WPA’s existing cash plan product, NHS Top-Up, and aims to fill the gap between GP and in-patient care.The scheme, which is avaliable from 1 April 2013, also ...
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Governance vacuum for contract-based schemes
There is a general lack of strong governance for default funds in contract-based pension schemes.Speaking at the annual National Association of Pension Funds Investment Conference 2013, Brian Henderson, a partner in Mercer’s investment division, said: “There is a total vacuum of governance for contract-based schemes.“Providers have commercial reasons to make ...