All Article articles – Page 741
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JLT appoints Margaret Snowdon
JLT Employee Benefits has appointed Margaret Snowdon as an executive in its trustee solutions business.Snowdon will join the organisation at the end of January with responsibility for the administration proposition, client management for larger employers, and supporting some of JLT Pensions Capital Strategies’ de-risking activities, as well as the organisation’s ...
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Pensions Regulator and FSA will not merge
Pensions minister Steve Webb has ruled out merging the roles of The Pensions Regulator (TPR) and the Financial Services Authority (FSA).Addressing the Department for Work and Pensions (DWP) select committee on 23 January, Webb said: “At a time of massive turmoil, the last thing we want is another regulator shake-up.“There ...
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Financial services staff expect pay to remain the same
More than half (57%) of respondents said they expect base salaries for permanent staff to stay the same in 2013, according to research by professional services recruiter Morgan McKinley Financial Services.Its annual Morgan McKinley London employment monitor, which surveyed 500 financial services employees, also found that 67% of respondents expect ...
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East Midlands police roll out EAP
EXCLUSIVE: Police authorities in the East Midlands have launched an employee assistance programme (EAP) through a framework agreement.The EAP, which went live on 1 January 2013, is available to staff at Derbyshire Constabulary, Leicestershire Police Authority, Lincolnshire Police, Northamptonshire Police and Nottinghamshire Police through the agreement.It is administered by East ...
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L&G launches mastertrust forum
Legal and General (L&G) Workplace Savings has launched the Mastertrust Employer Group (MEG), a forum for trust-based pension schemes that use mastertrusts.It held its inaugural meeting on 10 January, which was attended by mastertrust members, including Arcadia Group, Debenhams, Ladbrokes, Marks and Spencer, and Mothercare.The principle aims of the MEG ...
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Lockton Benefits UK launches
Global insurance and risk management company Lockton has officially launched its employee benefits business in the UK.Earlier in January, an agreement was made to transfer the Hymans Robertson risk-broking team to Lockton Benefits UK, under which a small number of Hymans Robertson staff will be Tupe (transfer of undertakings (protection ...
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Aegon UK launches auto-enrolment product
Aegon UK has launched an auto-enrolment product, SmartEnrol, in time to support its first pension schemes that reach their staging dates this month.The product is available to employers with new and existing Aegon group pension schemes. It will allow employers to manage employee categorisation, communication, new entrants and payment.In February ...
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M&S boosts engagement via ideas scheme
EXCLUSIVE: Marks and Spencer (M&S) has seen participation levels in its latest employee suggestion scheme rise after the scheme was extended to 500 staff in its international sourcing offices.Its Big Idea scheme, which is jointly managed by the retailer and its employee representative network, was introduced in 2010 when an ...
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Ladbrokes to launch healthy living programme
Ladbrokes is to launch a healthy living programme for its 15,000 employees.The programme enables employees to set personal health goals and access information about healthy living, as well as monitoring health risks, including diabetes, heart diseases and stress.Employees register with the site and then complete a health risk assessment (HRA). ...
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Vestey Group enters pension buy-in
The Vestey Group has entered into a buy-in arrangement for its Western United Group pension scheme, the defined benefit (DB) scheme for its current and former employees.The transaction, with insurer Rothesay Life, involved a £115 million exchange of UK gilts for a bulk annuity insurance policy to secure a portion ...
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Managers' pay rises below inflation
Private sector pay awards for managers and professionals are forecast to be an average of 2.6% in 2013, while managerial and professional staff in the public sector will see average pay increases of just 0.7%, according to research by Incomes Data Services (IDS).Its Managers’ benchmark pay report, which surveyed 179 ...
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Inquiry looks for evidence to get Britain cycling
The All Party Parliamentary Cycling Group (APPCG) will start taking verbal evidence for the Get Britain Cycling inquiry on 23 January.The inquiry aims to look at the barriers that are preventing more people cycling in the UK, where only 2% of journeys are made up of cycling compared to 27% ...
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The Pensions Trust sets charging structure
The Pensions Trust has announced details of the charging structure for funds offered via its auto-enrolment platform, SmarterPensions, which is set to launch on 4 March 2013.The majority of the fund range will have an annual management charge (AMC) set at 0.45%. SmarterPensions, which will be fiully auto-enrolment compliant, is ...
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Aon to delay bonuses to avoid top-rate tax
Aon has offered qualifying employee the option to defer their 2012 bonus payments so they can benefit from a cut in the top rate of income tax.Bonus payments were scheduled to be handed out in March, but the insurance broker has offered qualifying employees the option to postpone them until ...
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WH Smith selects auto-enrolment system
WH Smith has selected an administration system to comply with its auto-enrolment obligations from 1 March 2013.The system automatically identifies and enrols relevant employees into the chosen pension scheme, provides communication and administration processes, and handles refunds if an employee opts out.The system is provided by Ceridian UK, which already ...
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Single-tier pension to benefit women and low earners
Reforms to the state pension will particularly benefit women who take time out to bring up a family and low earners, according to figures published by the Department for Work and Pensions (DWP).Its Impact assessment on the single tier, published 18 January, also showed that more than half of over-25s ...
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Claybrook launches mobile pensions access
Pensions software provider Claybrook has launched a service that enables employees to access their workplace pension information via a mobile phone or tablet.The service is compatible with mobile platforms including Windows Phone, Apple iOS and Google Android.Staff are able to check fund valuation, manage investments online, calculate their estimated pension ...
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FTSE 250 pension deficits reach £9 billion
The total deficit of FTSE 250 pension schemes as of 30 June 2012 is estimated to be £9 billion, up from £6 billion in 2011, according to research by JLT Pension Capital Strategies.The FTSE 250 and their pension disclosures: a quarterly report found that deficit funding has increased in response ...
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Barnardo’s proposes to close DB pension
Barnardo’s has announced to staff a proposal to close its defined benefit (DB) pension scheme to future accrual from 31 March 2013.Employees at the children’s charity will be offered access to a defined contribution (DC) pension scheme from April 2013, which will be more generous than the government requirements for ...
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Government proposes pay cap for unfair dismissal awards
The government has published its proposals to reduce the number of workplace disputes that end up at employment tribunals.The proposals, which were announced by employment relations minister Jo Swinson, include the introduction of a 12-month pay cap on the compensatory award for unfair dismissal, as well as the establishment of ...