All Article articles – Page 759
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Consultations launched on changes to Nest
The Department for Work and Pensions (DWP) and National employment savings trust (Nest) Corporation have launched consultations on amendments to the Nest pension scheme.The DWP consultation seeks views from employers, employees and pension industry professionals on proposed amendments to Nest, including clarifying that employers can voluntarily cease to participate in ...
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Government sets out plans to boost employee ownership
The government has approved plans for a range of activities that aim to grow the employee-ownership sector.These are in response to recommendations made in The Nuttall Review on Employee Ownership, which was published in July.The plans include:Assessing whether to establish an independent Institute for Employee Ownership.An off-the-shelf model for setting ...
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Consultation on share buy back launched
The government has launched a consultation on changes to deregulate the conditions under which organisations can authorise and finance share buy backs.The consultation is based on a recommendation in The Nuttall Review on Employee Ownership, which was published in July.In organisations where employees hold a direct stake, the employer often ...
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Auto-enrolment cost and admin top employer concerns
More than 80% of corporate advisers said that the cost and administration of auto-enrolment are the top worries for employers preparing for the pension reforms, according to research by Aviva.Its Corporate adviser survey also found:67% of respondents said employers are concerned by the cost of meeting the long-term compliance requirements.38% ...
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Lloyds pilots new staff incentive scheme
Lloyds Banking Group is piloting a new staff incentive scheme, which puts the focus on customer service rather than product sales.The scheme is being piloted by 70 of the bank’s 1,800 UK branches, including Lloyds TSB and Halifax branches.It will run into early 2013, and is part of Lloyds’ quarterly ...
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Network Rail bike scheme sees high take-up
Network Rail has had 1,500 employees sign up for its bikes-for-work scheme since it was launched in August.This level of take-up equates to £1.1 million worth of bikes and accessories purchased through 396 independent cycle retailers, according to the scheme’s provider Cyclescheme.Ian Turner, rewards and benefits manager at Network Rail, ...
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Incentives would encourage cycling to work
Almost half (48%) of respondents would cycle to work more often if there were extra incentives or rewards for them to do so, according to research by innovation foundation Nesta.The research, which surveyed more than 4,000 UK adults, found that, among employees who already cycle to work, the factors most ...
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UK DB funded status improves
The funded status of defined benefit (DB) pension schemes in Canada, the Netherlands and the US has declined since December 2011, while the UK has experienced improvements, according to research by Mercer.The greatest decline has occurred in the Netherlands, where the funded status has fallen from 96% to 80%, followed ...
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One in five workers paid less than living wage
One in five UK workers are paid less than the living wage, according to research by accountancy firm KPMG.The research, commissioned by KPMG from Markit, combines analysis of the Office for National Statistics’ Annual survey of hours and earnings with Markit’s Household finance index survey.It has been published ahead of ...
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Interview with Janet Mckenzie, international reward, policy and mobility, The Body Shop
Janet Mckenzie, international reward, policy and mobility manager at The Body Shop, has a unique way to deal with the challenging world of reward and benefits. She likes nothing more than working through any issues that arise with a little culinary experimentation at home.She explains: “If I am wrestling with ...
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Higher priority given to staff mental health
Some employers are taking action, such as accountancy ?rm Deloitte, which unveiled a black dog statue at its London of?ces to show its commitment to the Black Dog campaign, run by the charity Sane to support mental health.The Chartered Institute of Personnel and Development (CIPD)/Simplyhealth absence management survey found that ...
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Consultation findings on executive pay
The latest move, at the end of September, was the Department for Business, Innovation and Skills’ (BIS) release of consultation proposals on reporting regulations for executive remuneration.The consultation, Directors’ pay: revised remuneration reporting regulations, followed business secretary Vince Cable’s announcement on 23 January 2012 that the government wanted a package ...
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How to forge a career in benefits
IF YOU READ NOTHING ELSE, READ THIS…Benefits professionals are increasingly important as organisations look for innovative ways to keep staff engaged.A career in benefits is likely to involve exposure to reward.Qualifications can be useful for career development, but are not essential.In the current economic climate, the role of benefits professional ...
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Vitushni Balavarnan: How I began a career in benefits
“I spent two summers working in HR,” she says. “I liked the analytical side, so I thought I would be suited to reward and benefits.”On graduation, she studied for a Masters in HR and business, making sure she would be Chartered Institute of Personnel and Development-qualified with the course she ...
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Debi O'Donovan: Auto-enrolment has put pensions centre stage
And the word on the street (or at least at the National Association of Pensions Funds’ annual conference last month) is that although we know that such low savings rates (starting at an initial 1% contribution each for employee and employer) will not necessarily give people the retirement they need, ...
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Stephen Jarrett takes Helm
His experience in the industry includes benefits consultant at Buck Consultants and Opus Consulting, which is now part of Willis Employee Benefits.Jarrett added: “Companies are demanding a more bespoke approach to wellness, healthcare and private medical insurance (PMI) consulting.“Employers are asking more fundamental questions about the nature of their PMI ...
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Debbie Lovewell: Auto-enrolment spurs wider financial focus
Barely a day goes by when stories of rising prices and households struggling to make ends meet do not hit the headlines.Just last month, the Home truths study by the National Housing Federation found that the number of working households that are now reliant on housing benefit to pay their ...
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Bull appoints Jo Sims
She spent the previous five years at Access UK, where she held various roles, including customer services manager, staff relationship manager, HR manager and group HR manager, before being appointed head of HR in 2010.She has also held an HR role at Sainsbury’s.Sims said: “I will be concentrating on transitioning ...