All Article articles – Page 790
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Global organisations have less centralised benefits strategy
The more countries in which an organisation operates, the less centralised its benefits strategy is, according to research by ComPsych.Its Global trends report: global workforce needs are universal found that, among employers based in one to five countries, 72% said the benefits strategy was highly centralised.Among employers based in more ...
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Barclays Corporate and Employer Solutions partners Aegon on corporate protection for SMEs
Barclays Corporate and Employer Solutions has partnered with Aegon to supply corporate protection, including shareholder and partnership protection and loan protection risks, to small and medium-sized employers.The arrangement will also offer employers:An individual pricing facility to enable premiums to be among the best in the market (subject to terms).Immediate cover ...
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High Court ruling will protect the pension benefits of Urenco employees
A ruling from the High Court on 12 June against nuclear fuel company Urenco will protect the pension benefits of 13,000 former employees of British Nuclear Fuels (BNF) and the UK Atomic Energy Authority (UKAEA).The ruling stated that the pension protection provided by the Energy Act 2004 for the former ...
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CSR appoints global share plan administrator
Wireless technology manufacturer CSR has appointed Killik Employee Services (KES) to administer its range of global share plans.The plans, which were previously administered in-house, include a range of option and share-based plans for 2,500 employees in 15 countries.Peter Leach, a director at KES, said “It is a big decision for ...
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OECD report: Increasing retirement ages and expanding private pension coverage is essential
Governments will need to increase retirement ages gradually to address increasing life expectancy in order to ensure that their national pension systems are both affordable and adequate, according to a report by the Organisation for Economic Co-operation and Development (OECD).The Pensions outlook report 2012 said that over the next 50 ...
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Leasedrive Group staff to take part in charity bike ride
Leasedrive Group employees are participating in a 400-mile, four-day, four-country charity bike ride.The Big Four Charity Bike Ride starts at the fleet management group's Wokingham headquarters and travels through France, Belgium and Luxenbourg.Seventeen employees will be cycling to raise money for a variety of charities, including Leonard Cheshire Disability, Macmillan ...
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Workplace pensions will play a key role in plugging savings gap
Workplace pension provision will play a key role in closing Britain’s chronic savings gap according to research by the Association of British Insurers (ABI).Time to act: Tackling our savings problem and building our future showed that increasing an annual pension contribution from 8% to 12% can increase a pension pot ...
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FTSE 100 bosses’ total pay up 10%
The median total remuneration of FTSE 100 bosses increased by 10% last year to £3.7m, according to a survey conducted by Manifest, the proxy voting agency, and the remuneration consultancy MM&K.The survey showed that the rise was five times the increase in average earnings across the economy and came at ...
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B&CE appoints independent trustees for The People's Pension
B&CE has announced the appointment of the board of trustees for The People’s Pension.It has selected Pan Governance, an independent trustee firm, and its corporate director and chief executive Steve Delo will be appointed as chairman.Alan Pickering, chairman of BESTrustees, will also join as a director of the board of ...
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Insurers not ready for HMRC's real time information initiative
Only 11% of respondents believe insurers will be ready to implement HM Revenue and Customs’ (HMRC) real time information (RTI) initiative on time, according to a survey conducted by Xafinity Paymaster.The Xafinity Paymaster annuity industry survey 2012 also found that 46% of respondents believe the financial services industry will not ...
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House of Fraser closes final salary pension scheme to future accrual
House of Fraser has closed its final salary pension scheme to future accrual.The retailer made the move after its pension scheme deficit nearly trebled, from £31.7 million at the end of January 2011 to £85 million at the end of January 2012.The scheme was closed to new members in 2002, ...
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Oliver Valvetek hosts barbecue to reward staff
Oliver Valvetek has hosted a barbecue for staff following its success in the 2012 Queen Awards for Enterprise in the international trade category.Founder and chairman Michael Oliver and his family joined employees at the barbecue.The award was handed out thanks to the firm’s growth in international sales between 2007 and ...
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Code of practice on enhanced transfer values and pension increase exchanges published
An industry working group has published a voluntary code of practice for incentive exercises on enhanced transfer values (ETVs).The code is made up of seven principles, which include:No cash incentives should be offered that are contingent on the member's decision to accept the offer.For transfer exercises, advice should be provided ...
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FTSE 350 pension deficits nearly double since end of 2011
Pension scheme deficits among FTSE 350 companies have nearly doubled since the end of 2011 to £90 billion in May 2012, according to research by Towers Watson.Its Defined benefits pension schemes: the impact on FTSE 350 company accounts at 31 December 2011, analyses the financial reports of 192 FTSE 350 ...
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Alton Towers staff receive contortionist training to combat claustrophobia
Alton Towers is offering its employees training sessions from a contortionist to help them deal with the dark and cramped conditions of the park’s newest attraction.Staff working on the Nemesis Sub-Terra, which features a network of catacombs, tunnels and dark cramped cages, have complained of claustrophobia.Alton Towers has therefore hired ...
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A third of respondents are ready for auto-enrolment
A third (31%) of respondents are ready for auto-enrolment, according to research by Jelf Employee Benefits.The research, which was carried out last year, has found little improvement over the last 12 months. In 2011, 30% of respondents were prepared for auto-enrolment.This year’s research found that employers are more aware of ...
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Gender gap in expected retirement income is narrowing
The gender gap in expected retirement incomes has fallen to £5,750, down from £6,500 in 2011, according to research by Prudential.Its Class of 2012 study into the finances and expectations of those planning to retire this year found that the average woman expects an annual income of £12,250 in retirement, ...
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Pension deficit for FTSE 350 firms approaches £120 billion
The aggregate deficit of defined benefit (DB) pension schemes for companies in the FTSE 350 approached £120 billion at the end of May 2012, according to research by Barnett Waddingham.The research also showed that some sectors of the FTSE 350, in particular the industrial sector, have been more exposed to ...
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Lorica Employee Benefits launches online benefits portal
Lorica Employee Benefits has launched an online benefits portal called iPortal, which provides employers and their employees with access to every website and microsite related to their benefits offering through one sign-on facility.The portal can be connected to a variety of benefits platforms, including pension schemes, wealth management, flexible benefits, ...
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ACF Car Finance wins payroll-giving award
Car dealer ACF Car Finance has been awarded a platinum award by the Institute of Fundraising for its commitment to payroll giving.The platinum-level award, which was introduced in 2012 to mark the 25th anniversary of payroll giving, is held by 30 UK organisations.It celebrates employers that encourage staff to make ...