All Article articles – Page 782
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DWP publishes plans for pot-follows-member pension schemes
The Department for Work and Pensions (DWP) has published plans to make it simpler for employees to take their work pension scheme with them from job to job.Current rules make it difficult for employees to combine their pension pots as they move jobs, leaving money stranded or lost completely.The DWP ...
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Johnston Press to delay staff pay review
Johnston Press is to delay pay reviews for staff for six months until 2013.The regional newspaper publisher told staff that the decision was taken due to the uncertain economic climate.Johnston Press will also give each employee an extra day of annual leave for 2012, and subsequent years, in recognition of ...
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HMRC launches video guide to help employers understand real-time information programme
HM Revenue and Customs (HMRC) has launched a video guide to help introduce employers to the real-time information (RTI) programme, which comes into effect from April 2013.The video looks at what RTI means for employers, the main changes that will be introduced, and a timetable for the programme.The programme will ...
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A quarter of respondents make higher contributions to DB schemes to manage funding
One in four respondents have had to pay higher contributions than expected as part of a more pragmatic approach to the management of their defined benefit (DB) pension scheme, according to research by actuarial consulting firm Punter Southall.Its research, Reaching pragmatic funding agreements in challenging times, which was last carried ...
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Sodexo Motivation Solutions adds WH Smith to voucher network
Sodexo Motivation Solutions has added WH Smith to its SayShopping Pass network, which offers access to vouchers for more than 12,000 UK retailers.Employers can offer staff access to the pass as part of a voluntary benefits scheme or a recognition programme.The SayShopping Pass, which is a multi-store voucher, can now ...
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Sports Direct staff to receive share scheme payout
Sports Direct employees are to receive a payout worth up to £15,000 each in August when the retailer’s 2009 bonus share scheme matures.More than 2,000 employees participated in the three-year scheme, which will award employees shares this year and in 2013 after specified profit targets were met in 2009-10 and ...
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Graham and Brown enters into pension insurance buy-in agreement
Designer wallpaper supplier Graham and Brown has entered into a pension insurance buy-in agreement for its defined benefit (DB) pension scheme with Pension Insurance Corporation (PIC).The transaction, which covers around £15 million of liabilities, allows the trustees to insure all pensioners at the point of signing the transaction, but with ...
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Cost of providing healthcare benefits continues to rise
The cost of providing healthcare benefits to employees continues to escalate at double-digit levels around the globe, and is expected to increase by 9.6% this year, according to research by Towers Watson.The research, the 2012 Towers Watson Global medical trends survey, which polled 237 medical insurers in 48 countries, found ...
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New Economics Foundation report: Regional pay rates could cost £10 billion a year
Government plans to introduce regional pay rates for the public sector could cost the economy almost £10 million a year, according to a report published by the New Economics Foundation (NEF) and commissioned by the Trades Union Congress (TUC).The proposals to introduce regional pay rates were first put forward by ...
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EXCLUSIVE: West Lothian Council switches voluntary benefits provider
West Lothian Council has switched the provider of its voluntary benefits scheme.The scheme, which includes employee discounts, childcare vouchers and a bikes-for-work scheme, will now be provided by P&MM.The switch was made following a competitive tender process.Graeme Struthers, head of corporate services at West Lothian Council, said: “The package will ...
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Chocolate tester has to quit sweet life after weight gain
The health and wellbeing of employees is a focus for many organisations, with programmes in place to ensure staff get enough exercise and information on nutrition. However, in some jobs, all the health programmes in the world will not help.Angus Kennedy has been forced to quit his dream job as ...
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First Western Rail staff secure Olympic bonus
First Western Rail staff have secured a bonus for working during the London 2012 Olympic and Paralympic Games.The agreement, which was reached after extensive negotiations with representatives from the Rail, Maritime and Train (RMT) union, will give employees a flat-rate payment for the Olympic period in addition to enhanced payments ...
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Government to delay white paper on state pension reform
Pensions minister Steve Webb has announced that a white paper on state pension reform is to be postponed to the autumn due to the “complexity and importance” of these reforms.The statement said:The chancellor George Osborne confirmed in the Budget 2012 that the state pension system will be reformed to introduce ...
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Merseyside Pension Fund appoints adviser for investment management
Merseyside Pension Fund (MPF) has appointed Mercer to provide advice on the manager selection process for a passive investment mandate of £1,000 million to £1,500 million.The index-tracking mandate is initially expected to cover UK equities, UK index linked gilts and North American equities.Peter Wallach, head of Merseyside Pension Fund, said: ...
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More public sector staff in pension schemes than private sector
A higher proportion (82%) of employees in the public sector belonged to a workplace pension scheme than their private sector counterparts (32%) in 2008/10, according to figures from the Office of National Statistics (ONS).Its Wealth and assets survey found that the median value of current workplace pension wealth of employees ...
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Iceland Foods and The Perfume Shop recognised for employee engagement
Iceland Foods and The Perfume Shop have been recognised for their focus on employee engagement. The retailers were presented with employee engagement awards at ORC International’s annual employee engagement conference.Both employers insist on the importance of both listening to employees and acting on feedback, and making it clear how staff ...
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Two-thirds of respondents see no link between pay and performance
Two-thirds (66%) of respondents cannot see a clear link between performance and pay at their organisation, according to research by Towers Watson.Its Global workforce study, which surveyed 32,000 employees across 29 countries including 2,628 UK employees, examined how the work environment is changing in response to shifts in business operations, ...
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Half of female respondents save less than £100 a month into a pension
Nearly half (48%) of women save less than £100 per month into a pension, according to research by YouGov.The research, which surveyed 2,014 UK adults, found that this saving is around one-fifth of the amount men invest in a pension scheme.The research also found:58% of women admitted to finding pensions ...
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10% of respondents to offer flexible working during Olympics
Only one in 10 respondents said their employer is allowing flexible working to attend the London 2012 Olympic and Paralympic Games, according to research by the Chartered Institute of Payroll Professionals (CIPP).The research, How will the Olympics affect businesses, found that 10% of respondents said their employer is permitting staff ...
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EXCLUSIVE: Republic sees 40% take-up in employee discounts scheme
Fashion retailer Republic has seen a 40% take-up in its employee discounts scheme over the past six months.Its Backstage Pass scheme, which was introduced at the end of 2011 and is provided by Asperity Employee Benefits, is aligned with the firm's recognition scheme, Recognition Rocks.Packs were handed out to employees ...