All Article articles – Page 776
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Huntsman aims for full flexible benefits
EXCLUSIVE: Huntsman, the global chemicals manufacturer, is treating the flexible benefits programme it launched in January as a three-year pilot.Speaking at Employee Benefits Live Asia in Singapore in August, Hans Han, head of compensation and benefits Asia Pacific at Huntsman, explained that employee communication and feedback was ongoing.Huntsman, which employs ...
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Travis Perkins Group launches pensions master trust
Travis Perkins Group is to launch a pensions master trust, combining all its contract- and trust-based schemes into one.The scheme, called the Travis Perkins Group Retirement Savings Plan, will be provided by Standard Life.It will launch in September 2012, in advance of the building and home improvement materials organisation’s auto-enrolment ...
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DWP issues statement on simplifying the state pension
The Department for Work and Pensions (DWP) has issued a statement on the proposed simplification of the state pension.As confirmed in the 2012 Budget in March, the government will introduce a flat-rate, single-tier state pension, currently estimated at around £140 a week.It will replace the current state pension, which is ...
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Esop Centre launches ‘Save our Csop’ survey
The Employee Share Ownership Centre (Esop Centre) has published a survey to encourage employers to speak out against the abolishment of company share option plans (Csops).A Csop is an HM Revenue and Customs (HMRC)-approved plan that provides an employee with an opportunity to acquire shares in their employer.The survey follows ...
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BGL Group increases take-up in employee engagement survey
BGL Group has achieved a 76% engagement rate for its latest employee survey.The global financial services firm has seen engagement in its employee survey continue to grow since it was introduced in 2009.Initial results that year showed 58% of employees were engaged, while the 2010 survey saw this increase to ...
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A quarter of respondents do not understand their payslip
Just over a quarter (26%) of respondents do not understand everything on their payslip, according to research by the Chartered Institute of Payroll Professionals (CIPP).The research was conducted in the lead-up to National Payroll Week 2012, which takes place from 3 to 7 September.It also found that 14% of respondents ...
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You at Work chooses Gresham Computing as technology partner
Employee benefits provider You at Work has chosen Gresham Computing as its cash and transaction technology partner for its benefits programmes.Gresham Computing, a provider of transactions control technology to international financial institutions, and You at Work, have been working together for the past five years on various projects, including the ...
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Employers offering workplace savings
Only one fifth of employers are not making provision for staff to take advantage of tax breaks around workplace savings, according to research by Employee Benefits.The Employee Benefits/Premier pensions and workplace savings research 2012 found the number of employers offering no provision has fallen to 20% from 57% in 2011, ...
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OTS unapproved share review may help unquoted companies
The Office of Tax Simplification’s (OTS) review of unapproved share schemes is likely to be of help to unquoted firms, says Nicholas Stretch at CMS Cameron McKenna.The review is looking at areas of simplification in unapproved share schemes such as long term incentive plans.Stretch says that the areas in which ...
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Women may miss out in retirement
Women’s pension pots are worth 67% of male counterparts, according to research from Bluefin Corporate Consulting.The analysis found that women have pension savings found that this was in part due to lower salaries and lower employee contribution rates of 4.25% for women compared with 4.93% for men.Bluefin Corporate Consulting warns ...
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Workers spend 27 minutes gossiping a day
The average office worker spends 27 minutes and 27 seconds a day gossiping with colleagues, according to research by Mars Drinks Office Connections.This length of time rises for HR professionals who spend on with the average 29 minutes and 26 seconds talking to colleagues about non-work related subjects.The survey, carried ...
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Defined benefit pensions impacting businesses
It would take over one year to repay the defined benefit (DB) pension scheme deficit using all cash generated from day-to-day operations for 29 firms in the FTSE350, according to research by Barnett Waddingham.The study found that over 49 FTSE350 businesses have DB pension deficit contributions that exceed their free ...
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Many higher rate taxpayers do not contribute to a pension scheme
One in four higher rate taxpayers do not contribute to a pension scheme, according to research by Prudential.Nationally, this means 216,000 employees are missing out on up to £438 million per year in pension tax relief.According to the study, of those earning between £42,275 and £149,999, 21% say they cannot ...
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Benefex appoints new chairman
Benefex has appointed Steve Bellamy as chairman.He will take over from current chairman Peter Waller who will become executive director at the online employee reward and benefit schemes provider.Bellamy will also remain as chairman at Becrypt, a cyber-security technology specialist. His previous roles include non-executive director at Advanced Medical Solutions ...
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LCP launches auto-enrolment modeller for employers
LCP, the financial, actuarial and business consultancy, has launched an interactive defined contribution (DC) pensions modelling tool to help employers with their auto-enrolment requirements.The modeller allows employers to review the pension scheme design options that are available to meet the auto-enrolment obligations. Employers can input individual scheme and employee data ...
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Dawson International calls in administrators after inability to pay pension deficit
Textile firm Dawson International has called in administrators after it was unable to reduce its defined benefit (DB) pensions deficit said to be around £50m.Administrators have been appointed to Dawson International its principal trading subsidiary Dawson International Trading and the intermediate UK holding company Dawson International Holdings (UK). However, the ...
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Organisations now planning for real-time information reporting
Planning for real-time information (RTI) reporting of payroll data to HM Revenue and Customs (HMRC) has begun in 86% of organisations, according to a survey by KPMG.Its survey of 42 large businesses in the UK found an increase in the number of organisations preparing for RTI since March this year ...
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Ceredigion County Council replaces payroll system
Ceredigion County Council has appointed Logica to handle the replacement of its payroll system.The mid-west Wales council is replacing the system to ensure it is compliant with HM Revenue and Custom’s real time information (RTI) system for reporting pay, tax and national insurance, which becomes mandatory in April next year.The ...
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David MacLeod to speak at Employee Benefits Live ahead of MacLeod report update
David MacLeod will be a keynote speaker at Employee Benefits Live 2012 ahead of the publication of the MacLeod report update due in October.MacLeod, co-chair of the Employee Engagement Taskforce and co-author of the MacLeod Report on Employee Engagement, will be the keynote speaker on the second day of the ...
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NAPF launches pension saving guides
The National Association of Pension Funds (NAPF) has launched the fifth and sixth online guides in its New rules for pension saving made simple series.The two documents have been produced in association with JLT Benefit Solutions to provide guidance on implementing auto-enrolment for HR professionals and employers. Topics covered in ...