All Article articles – Page 734
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Employers must play role in reducing workplace stress
Almost half (48%) of employee respondents said that stress impacts negatively on their working life, according to research by Canada Life Group.The research, which surveyed 1,613 UK employees, found that, of those who found their anxieties impacted on their working life in 2012, 20% said their employer was understanding, 8% ...
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Tax relief awarded in bonus repayment case
The First-Tier Tribunal has found that an employee repaying a signing bonus should receive tax relief because the repayment amounted to ‘negative pay’ for the employee.Julian Martin was awarded a signing bonus of £250,000 in 2005/06 by his employer JLT Risk Solutions with the provision that he would stay with ...
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LinkedIn gives all employees an iPad mini
LinkedIn has awarded each of its 3,500 employees an iPad mini as a reward for beating quarterly revenue targets by more than $25 million.The iPads were handed out at the organisation’s bi-weekly, all-employee meeting.A LinkedIn spokesperson said: “We wanted to acknowledge the hard work and accomplishments of all of our ...
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Bonus deferral could have tax implications
Employers considering offering the deferral of bonuses may need to seek written agreement from employees.A number of organisations, including Aon, Tullett Prebon and Virgin Media, are offering employees the opportunity to defer bonuses until after 6 April 2013 to allow them to take advantage of the change to top-rate tax, ...
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Wightlink appoints pension consultancy
Wightlink has appointed a pensions consultancy to provide actuarial and administrative services for its £70-million defined benefit (DB) pension scheme.The trustees of the scheme selected Punter Southall following a competitive tender process.Bill Frampton, chair of the trustees at the ferry company, said: “It is clear that [Punter Southall] understands our ...
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Employee-owned firms outperform FTSE firms
Employee-owned organisations outperformed the FTSE all-share companies in the first nine months of 2012, according to research by Field Fisher Waterhouse.The UK Employee ownership index (EOI), published by the law firm’s equity incentives team, monitors the share-price performance of listed organisations, comparing the performance of FTSE all-share companies with organisations ...
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Is dating the new employee benefit?
Something for the weekend…Most employers encourage social gatherings and activities among staff to foster a better working environment.Events usually involve days or nights out, such as meals and office parties, but could workplace dating services be the next step? A survey of 1,000 employees, by OfficeTeam, found that 73% of ...
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DOD’s blog: this week in benefits
So, this week we’ve had more news about employers deferring bonus payments until after 6 April so that staff earning more than £150k a year can pay income tax at 45% instead of 50% as currently applies.Virgin Media defers bonus paymentsThe general population might squeal at the idea of ‘fatcats’ ...
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MOD firefighters and police could retire at 60
Ministry of Defence (MOD) firefighters and police could be able to retire at age 60 following amendments to the Public Service Pensions Bill.MOD firefighters and police currently have to work until age 68 before they receive their pension, but the House of Lords has agreed two amendments to the bill. ...
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Rolls Royce to change DB financing
Rolls Royce will change the financing of its defined benefit (DB) pension schemes in 2013 so that the post-retirement benefits are calculated on the net surplus or deficit using an AA corporate bond rate.According to the manufacturer’s 2012 Full year results, if this strategy had been effective in 2012, it ...
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NAPF launches online auto-enrolment guide
The National Association of Pension Funds (NAPF) has launched a free online auto-enrolment guide for employers.The guide provides information about auto-enrolling staff into a workplace pension. It is broken down into sections, including assessing eligibility, picking a pension scheme, administration and communication.The guide also includes advice about dealing with opt-outs ...
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Average pay in 2012 on a par with 2003
The average earnings of UK employees in 2012 were roughly the same as 2003 levels in real terms, according to analysis by the Office for National Statistics (ONS).The analysis, which is based on the ONS’s Annual survey of hours and earnings, found that real wages peaked in 2009. Since then, ...
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The White Company launches corporate reward division
The White Company has launched a corporate reward division called The White Company for Business, which enables employers to incentivise and recognise employees.Gift vouchers are available in £5, £10 and £50 denominations, which can be spent online, in-store and via phone. The vouchers can also be remotely activated.The White Company ...
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International reward supplement 2013
Employee Benefits’ International reward supplement rounds up the latest trends in international reward markets and considers the future shape of employers’ benefits take-up.The report (download pdf) covers:Teresa Rogers: Local support is the keyPensions provision around the globeKBC banks on three-fund strategyGabriel Bernardino: Pan-European savingsGlobal reward needs local balanceInternational PMI must ...
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Link up at Employee Benefits Connect in London on 1 March 2013
Booking now open: on the Employee Benefits Connect website.The event partners with leading advisers and suppliers to present new research, blue-sky thinking or insights into the influencers that will affect the workplace, society and employees in the coming years.In 2013, there will be three new conferences within the event: one ...
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Virgin Media defers bonus payments
Virgin Media is to enable staff to be able to postpone payment of their 2012 performance bonuses until 6 April 2013.The deferral of the bonuses will allow all employees to take advantage of the change in the top-rate of tax, which will fall from 50% to 45% on this date.A ...
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Barclays Group pension deficits rise
Barclays Group’s total pension deficits increased by £1.1 billion in 2012, from £0.2 billion at 31 December 2011 to £1.3 billion at 31 December 2012.In its Full year 2012 results, the banking group said this reflected recognised assets of £2.1 billion and unrecognised actuarial losses of £3.4 billion.Barclays Group’s main ...
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Wages will not rise until late 2014
Average wages are not expected to rise in real terms until late 2014 after a period of stagnation and decline, according to a report by Resolution Foundation.Its Squeezed Britain 2013 report, is an audit of the economic circumstances of the country’s 10 million adults living on low-to-middle incomes.It found that, ...
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Pension deficits decrease by £33.5bn
The aggregate deficit of UK pension schemes has decreased by £33.5 billion over the month of January, according to research by the Pension Protection Fund.Its PPF 7800 index, which measures the funding positions of 6,316 UK private sector pension schemes, found that the deficit at the end of January 2013 ...
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Government looks to simplify auto-enrolment
The government is to launch a consultation in March on proposals to make auto-enrolment simpler.The proposals are based on feedback received since the implementation of the reforms began in October 2012. These include a list of areas that could benefit from practical and technical improvements, including:Making the assessment of the ...