All Article articles – Page 762
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Disclosure of pension charges essential
Full disclosure of pension charges is essential if scheme members are to gain value for money and subsequently refrain from opting out post-auto-enrolment, according to Gregg McClymont, shadow pensions minister.Although annual management charges (AMCs) are published, this is insufficient, he added. “AMCs may comprise less than a third of total ...
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Morrisons helps staff save dough
Morrisons launched a campaign to help its employees understand why they need to save for the future and how to go about it ahead of its auto-enrolment staging date.Its Save Your Dough campaign is aimed at Morrisons 135,000 employees spread across four divisions as part of the organisation’s auto-enrolment strategy. ...
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Consultation launched on employee-owner scheme
The government has launched a consultation that sets out its plans for a new employment status, called employee-owner.The move follows Chancellor George Osborne’s proposal on 8 October that employee-owners would be able to own shares in their company worth between £2,000 and £50,000, which will not be subject to capital ...
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The right vicar for the job
Recruiting and retaining staff is not always easy, but a village in Essex has found that its employment package is not quite enough to attract the right vicar for the job. So the villagers have taken to Youtube to highlight their offering.The parishes of St Andrew’s in Bicknacre and St ...
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Pensions rebrand could attract savers
Rebranding pension schemes could encourage more people to save because the term ‘pension’ has become tarnished, said Martin Lewis, journalist and creator of Moneysavingexpert.com.Speaking on the first day of the National Association of Pension Funds’ (NAPF) conference, Lewis said that pensions and the pensions industry has been tarnished in part ...
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PPF levy could rise by 10%
The Pension Protection Fund (PPF) levy could rise by 10% for 2014/15 unless market conditions change.This is after the levy was held for 2013/14. Speaking at the National Association of Pension Funds’ annual conference, Alan Rubenstein, chief executive of the PPF, said that an increase in levies is necessary if ...
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Quorum employees encouraged to travel smart
Employees at Quorum Business Park were encouraged to use alternative means of travelling to work as part of a week-long campaign to raise awareness of sustainable transport.The annual Go smarter campaign coincided with European Mobility Week, between 16-22 September, and prompted employees to travel by foot, bike or public transport.The ...
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DB pensions need alternative de-risking strategies
It will be around 2040 before UK private sector defined benefit (DB) pension schemes can fully de-risk unless they consider alternative strategies, according to research by Towers Watson.The research is based on the projected availability of low-risk assets, with the supply of index-linked gilts (ILGs) considered the most important constraint ...
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Royal Opera House to close DB pension
The Royal Opera House is to close its defined benefit (DB) pension scheme to future accrual in the run-up to its auto-enrolment staging date of September 2013.A consultation with the scheme’s 200 members about the closure will be open until 7 December 2012. The Royal Opera House then intends to ...
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IBM loses High Court pensions case
IBM will have to rectify the trust deeds and rules for its UK defined benefit (DB) plan to allow active members to retire from age 60 without the organisation’s consent or reduction in their pension, following a High Court judgement.The case was brought before the courts by the pension scheme’s ...
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Most EAP users recover after counselling
Nearly three-quarters (70%) of respondents who have used an employee assistance programme (EAP) have recovered or improved following the counselling, according to research by the UK Employee Assistance Professionals Association (UK EAPA).Its research, Benchmarking key service quality indicators in UK employee assistance programme counselling, which was undertaken in partnership with ...
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Technology firm staff walk 28,000 miles
Employees at Critical Software Technologies walked 27,956 miles as part of a 16-week global workplace health challenge.Seven teams from the software organisation took part in the Global Corporate Challenge (GCC) along with 185,000 other employees worldwide.Each employee wore a pedometer to record their daily steps, which were then logged on ...
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Overhaul planned for MPs’ pay and pensions
MPs could be subject to performance-related pay and be offered membership to career average pension schemes as part of a complete review of their salaries and pensions being undertaken by the Independent Parliamentary Standards Authority (IPSA).Reviewing MPs’ pay and pensions: a consultation is the first step in determining a new ...
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HR4UK launches online HR system
HR4UK has launched an online HR and employment law system.The Employment Handbook and HR System, which includes information about changes to employment legislation and links to employee benefits, can be accessed through an employer’s intranet site.Peter Abraham, founder and director at HR4UK, said: “Complying with the different laws and procedures ...
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FTSE 250 directors' pay increases stay at 3%
The median salary increases for executive directors at FTSE 250 organisations have remained at 3%, the same level as 2011, according to research by Deloitte.The business advisory firm’s Executive directors’ remuneration report found that 46% of FTSE 250 organisations awarded increases of less than 5%, compared to the 41% that ...
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UKTV to host benefits event
EXCLUSIVE: UKTV will be running a two-day benefits and wellbeing event to raise awareness among staff of the benefits available to them.It will also include information on health and wellbeing issues and financial advice.The multi-channel provider is hosting the event at its London office on 17 and 18 October for ...
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Vielife launches wellbeing challenges
Health and wellness provider Vielife has launched a range of web-based, interactive challenges aimed at improving employees’ health and productivity.You Can Be Active, the first product in the range to be released, tracks physical activity on a daily basis. Employees can sign up in teams and compete with other teams ...
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Wickes launches gift vouchers
DIY retailer Wickes has launched a gift voucher, which employers can add to their voluntary benefits scheme or recognition programme.The Wickes for Business gift vouchers come in denominations of £5, £10, £20 and £50, are redeemable at more than 200 stores nationwide, and can be spent on more than 14,000 ...
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Small firms unprepared for auto-enrolment
Only 28% of smaller firms have budgeted for the cost of auto-enrolment, according to new research from the Association of Consulting Actuaries (ACA).A million challenges ahead, the first report from the ACA’s 2012 Smaller firms’ pensions survey, found the majority of respondents with 250 or fewer employees were unprepared for ...
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Barclays rewards on satisfaction
Barclays’ frontline staff will receive bonuses for customer service rather than for the sale of products.The new bonus structure will effect more than 20,000 employees in the bank’s UK retail and business banking division.The incentives will be based on how satisfied customers are with the service they are provided and ...