All Article articles – Page 730
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New trade union share owners group to address pay and pensions
Trade union groups the Trade Unions Congress (TUC), Unison and Unite have teamed up to launch a group that aims to put union values at the heart of corporate governance on issues such as excessive directors’ pay.Trade Union Share Owners will work with shareholder advisory group Pensions and Investment Research ...
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Pilkington Glass to close DB scheme to future accrual
Pilkington Glass is to close its defined benefit (DB) pension scheme to future accrual and move its 1,489 members into the organisation’s group personal pension (GPP) plan.The manufacturer has paid £120 million in additional contributions into the Pilkington Superannuation Scheme (PSS) over the past four years. However, the cost of ...
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BBC's sickness absence not due to stress
The BBC has disclosed that only 0.18% of working days were recorded as lost due to stress, anxiety and/or depression between April 2011 and March 2012.Following a Freedom of Information request by LondonlovesBusiness.com, the Daily Mail reported that the broadcaster spent £130,000 on stress counselling for staff in 2012.A spokesperson ...
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Kingfisher lowers pension deficit by £11m
Kingfisher has lowered its net pension deficit by £11 million since closing its defined benefit (DB) pension scheme to future accrual from 30 June 2012.The retailer, which is the parent company of six organisations, including B&Q and Screwfix, showed in its 2012 Preliminary results that the pension gain includes £27 ...
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NHS trusts spent £1bn on sick pay in three years
NHS trusts in England spent more than £1 billion on sick pay over the past three years, according to research by the Chartered Society of Physiotherapy (CSP).The research, Fit enough for patients? An audit of workplace health and wellbeing services for NHS staff, looked at documents for 163 trusts, which ...
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Equiniti Group rebrands Xafinity businesses
Equiniti Group has removed the Xafinity brand from its pensions businesses.From 28 February 2013, Xafinity Claybrook will become Equiniti Claybrook and Xafinity Paymaster will become Equiniti Paymaster.With 1,000 staff in 10 locations, Equiniti’s pensions division, comprising Equiniti Claybrook and Equiniti Paymaster, makes up 40% of the overall group.Wayne Story, chief ...
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Tune in for live updates from Employee Benefits Connect
The Employee Benefits team will be posting live news stories from Employee Benefits Connect on 1 March.The one-day conference is being held at the Park Plaza Westminster Hotel in London.The event will include conference sessions, networking opportunities, workshops and an exhibition.To follow the event on Twitter, search for EBConnect.For more ...
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University of Edinburgh rolls out Nest
EXCLUSIVE: The University of Edinburgh is to introduce a defined contribution (DC) pension scheme on 1 March 2013 as part of its auto-enrolment compliance duties.The university will roll out the national employment savings trust (Nest) to its 12,300-strong workforce.To comply with auto-enrolment requirements, the university will contribute the minimum of ...
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European Union agrees cap on bankers’ bonuses
The European Commission and the European Parliament have reached a preliminary agreement on limiting bonus payments in the financial services sector.The cap will limit bankers’ bonuses to one-time salary, or two-times salary if a majority of shareholders agree. There will be some leeway for long-term incentives, although the details of ...
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ITV defined benefit pensions deficit rises
ITV’s total pension deficit has increased by £161 million since December 2011.Its defined benefit (DB) pension schemes had an aggregate IAS 19 deficit of £390 million at 31 December 2011. This had risen to £551 million at 31 December 2012.In its Preliminary results 2012, the media organisation attributed the deficit ...
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Reading Transport switches pensions adviser
Reading Transport has switched advisers for the actuarial and administrative services of its final salary pension scheme.The £26-million scheme, which has 500 members, will now be advised by Punter Southall.Greg Chambers, finance director at Reading Transport, said: “We engaged Punter Southall to provide actuarial and administrative services for our defined ...
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Engagement biggest priority for HR
More than half (62%) of organisations surveyed say employee engagement is their top HR priotity in 2013, according to research by law firm Speechly Bircham and King’s College London.However, the State of HR survey 2013: recovery in sight?, which polled more than 300 HR professionals across 13 industry sectors, also ...
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BNY Mellon rolls out global reward portal in Belgium
EXCLUSIVE: BNY Mellon will roll out its online total reward portal to its 750 employees in Belgium in March.The portal, which has been developed with provider Xerox, is currently available to the bank’s employees in Ireland, the Netherlands, the UK and the US. It has been introduced to engage staff ...
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Auto-enrolment prompts benefits reviews
More than a third (38%) of respondents are likely to review their organisation’s benefits package at the same time as complying with auto-enrolment legislation, according to research by Aviva.Its second Working lives report, which surveyed 760 private sector employers, found that, over the next 12 months, 63% of respondents will ...
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ABI publishes code of conduct for annuities
The Association of British Insurers (ABI) will implement its code of conduct for annuities on 1 March.The ABI Code of conduct on retirement choices aims to help people who buy an annuity each year better understand their options at retirement, choose the right annuity for their circumstances and shop around ...
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Royal Institution of Chartered Surveyors selects auto-enrolment system
The Royal Institution of Chartered Surveyors (RICS) has selected a technology system to enable it to comply with its auto-enrolment duties.The society, which employs more than 650 staff worldwide, has chosen cloud-based software from Fairsail. The product is designed to link in with existing Hr and payroll systems, as well ...
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Allied Milling and Baking staff take up discount scheme
Allied Milling and Baking has seen a 34% take-up of its employee discount scheme since it launched in November 2012.The food manufacturer, which is part of Associated British Goods, employs 4,600 staff across 25 sites. Staff are predominantly factory-based and do not have internet access at work.Its scheme, branded AMBISave, ...
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Hargreaves Lansdown launches integrated workplace benefits system
Hargreaves Lansdown has launched an integrated corporate wrap and flexible benefits system.The workplace benefits system integrates Hargreaves Lansdown’s Corporate Vantage investment platform, which includes a pension, a cash individual savings account (Isa), a stocks and shares Isa and an investment account; with flexible benefits technology provided by Staffcare.The system, which ...
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Volkswagen alters exec remuneration
Volkswagen has altered its bonus structure for its board of management.Under its variable remuneration framework, members of this board receive a bonus, which relates to business performance over the previous two years, and a long-term incentive plan (L-tip) relating to the previous four fiscal years.The car manufacturer’s supervisory board has ...
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33 new international pension plans established in 2012
Thirty three new international pension plans (IPPs) were established in 2012, according to research by consultancy Towers Watson.Its annual International pension plan survey, found the total number of international plans managed by 391 responding employers now totals 403.The survey also found that international pension plans are being developed within multi-country ...