All Article articles – Page 757
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Article
BT's pension deficit increases to £3.1bn
BT Group’s final salary pension scheme deficit has increased from £1.9 billion to £3.1 billion since March 2012.The telecommunications firm published the figure in its financial results for the second quarter and half year to 30 September 2012.The higher deficit reflects the impact on liabilities of a reduction in the ...
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JLT to take over Aegon’s DB pension portfolio
JLT Benefit Solutions will take over the ongoing provision of services to Aegon’s portfolio of defined benefit (DB) pension schemes.The portfolios have an asset value of £710 million and contain 25,000 members.The partnership will see 100 Aegon staff transfer to JLT in early 2013.Duncan Howorth, chief executive at JLT Benefit ...
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Article
High Court rules benefit take up seals employment contract
Employees who take up a benefit, offered specifically to a person in their position in the company, will be held to the terms of their employment contract, even if they have not signed the contract.The High Court ruled that if an employee uses a benefit, which is offered under their ...
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Article
Chinese air force helps recruits find love
Something for the weekend …Success at work could mean a pat on the back from the boss or even a bonus at the end of the year, but in the Chinese air force it could mean finding the love of your life.The People’s Army rewarded 150 air force recruits, who ...
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Article
GE Healthcare wins award for staff healthcare
GE Healthcare has been awarded the UK’s Royal Society of Public Health’s Health promotion and community wellbeing award 2012 for its employee health and wellness programme.GE has offered the programme, HealthAhead, to its 300,000 employees worldwide since 2010. It is available to GE Healthcare’s 46,000 employees.The programme covers issues such ...
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Domestic and General offers staff flu jabs
Domestic and General has offered staff at its Nottingham contact centre nurse-administered flu vaccinations in an effort to tackle sickness absence.The organisation provided 150 jabs on a first-come, first-served basis for the second year running. The offer was communicated to employees using emails, line managers and posters in employee break ...
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Article
Patterson Associates appoints vice president
Remuneration consultancy Patterson Associates has appointed Sue Bartlett vice president.Bartlett has more than 20 years’ experience advising organisations on executive pay, remuneration strategy, short- and long-term incentives, pensions and corporate governance.Prior to joining the organisation, Bartlett held the role of director in consulting services at Towers Watson, specialising in executive ...
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Article
Prudential partners Nest and Now: Pensions
Prudential UK has partnered with the National employment savings trust (Nest) and Now: Pensions to offer pension auto-enrolment options to employers.The financial services provider is working with Nest and Now Pensions to provide organisations with diverse workforces the option of a dual-scheme approach to complying with auto-enrolment.David Caw, head of ...
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A third of respondents are not saving
More than one-third (35%) of respondents do not contribute to any kind of savings vehicle, according to research by Now: Pensions.The research, which was carried out through an online survey of 2,033 UK adults, found that one in four (27%) respondents said they will face a shortfall in their pensions ...
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ArticleLow-paid workers have poorer pensions provision
Low-paid workers are less likely to belong to a workplace pension scheme, and those that do have lower employer contribution rates, according to research by the Trades Union Congress (TUC).The TUC Pensions scorecard report, which examined the membership, contribution rates and governance of workplace pensions across the UK, found that ...
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MP requests review of share plan limits
Labour MP Jim Fitzpatrick has called on treasury secretary David Gauke to review the savings limits for HM Revenue and Customs (HMRC)-approved share plans.In a letter, Fitzpatrick asked Gauke to review the issue in light of a tabled early day motion (EDM), as well as views by the Office for ...
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Article
Lloyds launches online support to working parents
Lloyds Banking Group has launched an e-learning programme for employees that take maternity, paternity and adoption leave.The programme includes modules on preparing for maternity or adoption, maternity and adoption leave, and a post-maternity module for employees returning to work. There is also a module for male employees taking paternity leave.The ...
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Article
Projected worth of pensions to fall sharply
Employees who are members of personal pension plans will see the projected worth of their pension pots fall sharply from 2014.The Financial Services Authority (FSA) is to reduce the projected annual growth rates from April 2014, which will affect plans such as self-invested personal pensions (Sipps) and stakeholder pension schemes. ...
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Article
Plantronics increases staff engagement
EXCLUSIVE: Audio electronics firm Plantronics has increased its employee engagement levels by more than 20% since it launched a flexible working initiative in 2011.The flexible working initiative, which is open to all 300 employees, allows them to amend their hours to better fit work around their personal lives, such as ...
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Article
Ellipse launches new income protection product
Ellipse has launched a second group income protection plan.The plan, Interact, offers employers a 10% reduction in their premium if absences are notified promptly, or if no employee is absent for more than four consecutive weeks during a year.It has also added single life policies to its group life product ...
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Flexible working could challenge pay strategy
Proposals to reform flexible working and parental leave could raise questions on how to fairly compensate an employee working flexibly.The standard approach of apportioning pay might need to be reviewed and replaced by organisations rewarding flexible workers more closely based on their outputs and productivity levels, said Dawn Nicholson, HR ...
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Article
Total People wins NIC motor mileage case
Total People has won an appeal to overturn an Upper Tribunal decision made in favour of HM Revenue and Customs over motor mileage national insurance (NI) claims.The case relates to a NI claim made by the organisation based on the difference between HMRC’s 40p per mile allowance rate and the ...
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Corporate gym membership – buyers’ guide
Employee Benefits’ Benefits Research, published in May 2013, shows that just 12% of employers offer gym membership as a core benefit to all employees, compared with 17% four years ago in 2009.The Benefits Research also shows that many employers (12%) are offering employees the benefit through their flexible benefits schemes, ...
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Nationwide shelves plan for benefits cap
EXCLUSIVE: Nationwide Building Society has shelved plans to cap employee benefits for older workers after a review concluded that the cost of provision did not yet outweigh the value of the package to employees.The review, led by HR director Robert Aldrich and an external law firm, was triggered by a ...
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PQM awarded to three more employers
Three more employers have been awarded the Pension Quality Mark (PQM), which recognises good quality defined contribution (DC) pension schemes.Global biopharmaceutical firm Bristol-Myers Squibb was recognised with the PQM for its group personal pension (GPP) plan. Controls and process automation firm Koso Kent Introl and national charity Motability were awarded ...