All Article articles – Page 788
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Membership in DC pensions set to reach 16 million by 2020
Membership of private sector defined contribution (DC) pensions schemes is projected to more than double, from 6.6 million to 16 million by 2020, according to research by the Pensions Policy Institute (PPI) and MetLife Assurance.The research, The changing landscape of pension schemes in the private sector in the UK, found ...
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Pension Quality Mark adapts its standard for new types of pension scheme charges
The Pension Quality Mark (PQM) is setting up a new standard for pension schemes that use new types of charges, in order to adapt to changes prompted by auto-enrolment.Previously, only defined contribution (DC) pension schemes that used annual management charges (AMCs) were able to apply for the PQM, which was ...
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The Bernicia Group launches flexible benefits scheme for staff
The Bernicia Group has launched a flexible benefits scheme for its 350 employees to allow them to maximise choice around their benefits.The housing organisation, which provides more than 8,000 homes throughout the north east of England, has introduced the scheme, Building Bernicia, with You at Work and Barclays.The scheme includes ...
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DHL Supply Chain moves to shared services HR model
DHL Supply Chain is moving towards a share services model for HR that will make its administration of reward more efficient and cost effective.The organisation, which is a division of Deutsche Post DHL, will set up a centralised HR team next door to its head office in Milton Keynes towards ...
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More than half of employees are unaware of auto-enrolment
More than half of all employees are unaware that their employer will have to auto-enrol them into an occupational pension, according to research by Hymans Robertson.The research found that 51% of employees did not know about auto-enrolment and of those that were aware, almost half said that they had not ...
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Forth Ports Group appoints pensions actuarial and investment consultancy
Forth Ports Group has appointed Punter Southall to provide a range of actuarial and investment consultancy services for its defined benefit (DB) pension scheme.The scheme has approximately 2,500 members and assets of around £250 million.The Scottish ports group, which comprises ports in Grangemouth, Dundee, Leith, Rosyth, Methil and Burntisland, conducted ...
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Derbyshire County Council consolidates additional voluntary contribution pensions
Derbyshire County Council Pension Fund has consolidated its additional voluntary contribution (AVC) pension scheme arrangements as part of efforts to boost take-up of AVCs.The council, which previously had three AVC plans, has retained its arrangement with Prudential.AVCs offer pension scheme members a cost-effective, tax-efficient way to increase their pension savings. ...
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Low Pay Commission launches consultation on the national minimum wage
The Low Pay Commission (LPC) has launched a public consultation to obtain views on the operation of the national minimum wage (NMW).The consultation is part of a wider evidence-gathering exercise, following the government’s publication of LPC's remit for this year.The remit has requested that LPC consider a number of aspects ...
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AWD Chase de Vere partners with accountancy firm to provide auto-enrolment advice
Independent financial advisory firm AWD Chase de Vere has entered into a partnership with the Welsh accountancy firm Ktsowensthomas (KTS).AWD Chase de Vere will provide independent financial advice to employers working with KTS, including investment and pension advice and strategies to prepare for, and implement, auto-enrolment.Stephen Kavanagh, chief executive at ...
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BT barred in attempt to lower pension scheme costs
BT has been barred from inducing its competitors to share in the costs of lowering its £3 billion pension scheme deficit by setting higher charges for their use of its phone lines.The Competition Commission has decided that BT’s regulator, Ofcom, correctly barred the organisation from including deficit repair charges from ...
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Hermes Fund Managers accredited as living wage employer
Boutique fund manager Hermes has been accredited as a living wage employer.Hermes Fund Managers, which employs over 400 staff in London, joins a group of 100 accredited living wage employers in the UK.As an accredited employer, Hermes Fund Managers ensures that all employees are paid the living wage and above, ...
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Opus Energy launches workplace wellbeing scheme
Opus Energy has launched a workplace wellbeing scheme, which is aimed at increasing the overall mental and physical wellbeing of its 410 employees.The scheme, Opus Energise, will offer:An online health and wellbeing information portal.Quarterly health challenges, starting with a pedometer team competition.Health screenings and advice.Access to an occupational health programme.A ...
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Employee Benefits Summit 2012 - slides
To view a presentation from Employee Benefits Summit, which was held at the Penha Longa Hotel, Portugal, 20-22 2012, please click on the link next to the sessions below..Reducing the Cost of Sickness to Employers, Taxpayers and the Economy - Download PDF of slidesDavid Frost, CBE Co-chair of ‘Health at ...
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Job vacancies for zombies
News that there are vacancies for zombies to work at a haunted manor house brings a whole new meaning to being stuck in a dead-end job.The experience website Wish.co.uk wants to hire the scary recruits to battle with guests visiting its Zombie Manor House near Manchester.And, according to the job ...
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HMRC confirms salary sacrifice pension schemes will work for auto-enrolment
HM Revenue and Customs (HMRC) has confirmed that salary sacrifice pension schemes will meet the requirements of auto-enrolment.Previously employees entering into a salary sacrifice arrangement for pension contributions could not easily revert to their higher salary.This was generally taken to mean that employees could not opt out within 12 months, ...
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Canada Life adds a new medical-opinion service to its group risk products
Canada Life Group Insurance has added a new medical-opinion service from Best Doctors to its group income protection and group critical illness products.The service called Ask the expert will provide policy holders with access to the opinions of more than 50,000 medical experts.†The findings are shared with the individual within ...
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Employee Benefits Summit 2012: High pay decisions may not always be justifiable
The justifications for high executive pay typically lie in talent ideology, however, there are reasons to be sceptical of this, according to David Bolchover, author of Pay check: Are top earners really worth it?Speaking on the second day of the Employee Benefits Summit 2012, he said that the top reason ...
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Doctors on strike after dispute over pensions
Doctors are on strike today (June 21) following a dispute over pensions.The British Medical Association (BMA) said this was the first incident of industrial action taken by its members (who are doctors) in almost 40 years.The government wants doctors to contribute more towards the cost of their pensions and retire ...
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Asda employees set to share £50.9 million when sharesave scheme matures
Employees at Asda are set to pocket £50.9 million when the supermarket’s next three-year sharesave scheme matures. This year’s payout, is the biggest on record for employees, and those that have saved £50 a month are expected to receive more than than £2,808, which represents a £1,000-plus gain on their ...
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The Pensions Regulator sets out its approach to tackle non-compliance with the pension reforms
The Pensions Regulator has set out its strategy for tackling non-compliance with the pension reforms, including auto-enrolment.The largest organisations will have to comply with the new duties from October, while the smallest employers will have to comply by 2017. Organisations that fail to comply with their new duties may be ...