All Article articles – Page 819
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Pay prospects improve for 2012
Employers predict there will be a positive shift in pay prospects for 2012, although uncertainty still prevails, according to research by the Chartered Institute of Personnel and Development (CIPD).Its survey of more than 1,000 employers showed that the last quarter has seen pay intentions reach their highest level since spring ...
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Legal and General adds to group critical illness cover
Legal and General has added aplastic anaemia, bacterial meningitis, cardiomyopathy, encephalitis and liver failure cover to its group critical illness product.Additional changes to the product include: a reduction in the survival period from 30 to 14 days for most illnesses, and an increase in the maximum benefit to up to ...
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Accident-prone jockey utilises healthcare benefits
Keeping a lid on private medical insurance (PMI) claims is a concern for many employers.This must be an impossible task in the case of accident-prone jockey Choc Thornton, who has suffered the 367th fall of his career.The going has been tough on Thornton’s private healthcare insurance and he has already ...
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ONS statistics: Average age of retirement has increased
Figures released yesterday by the Office for National Statistics show that people are working longer than they used to, with the average retirement age going up from 63.8 years to 64.6 years for men and from 61.2 years to 62.3 years for women between 2004 and 2010.The figures also show ...
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Local authorities form tri-borough pensions team
A new tri-borough pensions and treasury team has been formed following a shared services agreement between Westminster, Hammersmith and Fulham, and Kensington and Chelsea councils.The new team, which will handle combined pension funds of £1.5 billion and cash investments of £500 million, will be led by Jonathan Hunt, tri-borough director ...
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Rangers Football Club awaits ruling in employee benefits trust tribunal as it enters administration
Rangers Football Club has entered administration as it awaits the verdict in an HM Revenue and Customs (HMRC) tax tribunal, which concerns its use of an employee benefit trust (EBT).An EBT is a discretionary trust used for the benefit of employees. The Scottish football club used EBTs to pay players’ ...
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EXCLUSIVE: 3663 to open second enrolment window for bikes for work
Foodservice distributor 3663 is to open a second enrolment window for its bikes-for-work scheme on 1 March, in a bid to increase take up.The scheme, which was launched in October 2011 with an enrolment window in November, has seen a 2% take-up, with estimated employer national insurance (NI) savings of ...
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Third sector in the dark over auto-enrolment
One in seven (14%) employers in the voluntary sector are still completely in the dark when it comes to auto-enrolment and their responsibilities towards employees, according to research by the Pensions Trust.The research, which surveyed more then 700 voluntary sector organisations and social enterprises employing over 98,500 employees, also found ...
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Auto-enrolment is biggest priority for 2012
Auto-enrolment was found to be the biggest priority for 2012, according to research by global human resources consultancy Aon Hewitt.The third edition of the Aon Hewitt Benefits and trends survey, which polled 185 organisations representing a total of 650,000 employees, found that a fifth of respondents said they either already ...
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London Borough of Hillingdon appoints pensions administrator
The London Borough of Hillingdon has appointed Capita Hartshead to provide a range of services to its local government pension scheme (LGPS).The appointment is part of the LGPS Administration Framework agreement, set up in October 2011 by the London Borough of Hammersmith and Fulham in conjunction with the London Borough ...
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Majority of respondents have not communicated auto-enrolment to staff
The majority (74%) of respondents have not started communicating to employees about auto-enrolment, according to research by the Chartered Institute of Payroll Professionals (CIPP).The survey, which polled 103 payroll, HR, accounting and finance professionals, also found that 61% of respondents have decided where the responsibility for auto-enrolment lies. For 42%, ...
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Helm Godfrey launches retirement product
Pensions provider Helm Godfrey has created a retirement product, iRetire. This is divided into three financial planning stages: five years from retirement, at retirement, and beyond retirement.The product includes:An enhanced annuity service in partnership with provider Morgan Ash.An annuity advice service that will be open to employees with pension pots ...
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Workers face pay squeeze
UK workers face a continuing squeeze on real pay over the next 12 months, as organisations cut costs amid continuing economic uncertainty, according to new research.The Hay Group report, Reward in 2012, is based on forecast data from reward professionals in more than 180 organisations, representing over half a million ...
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Third of employers to scale back benefits in 2012
Only a third (31%) of organisations are looking to scale back their current employee benefits offering in 2012, according to research by recruitment consultancy IntaPeople.The research, which surveyed 250 UK organisations, found that 93% of respondents believe that good employee benefits are crucial to maintaining productivity in the workplace.Over half ...
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Incahoot partners People Value to offer high street discounts
Incahoot has partnered with employee benefits provider People Value to extend its suite of offerings to shopping discounts on the high street.The collective buying website, which offers discount schemes on home broadband, energy bills, mobile phones and insurance, has launched Incahoot Plus. It will be available for employers to add ...
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Mercer and Marsh combine for international markets brand
Benefits consultant Mercer and insurance specialist Marsh have joined forces to create a brand for markets outside the United States: Mercer Marsh Benefits.The brand has been created to address the growth of employee benefits costs around the world.“Mercer Marsh Benefits provides clients with a single source for managing the costs, ...
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Royal Mail Group awarded Guinness World Record title for payroll-giving scheme
The Royal Mail Group has been awarded the Guinness World Record title for most registered charities supported through a payroll-giving scheme.Approximately 42,000 employees give to charity directly through their payroll, with £45 million raised over the last 23 years for 975 charities. Over £2 million was raised in 2011 alone.Charities ...
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Employees think team-building days are a waste of time
Team-building days that involve activities such as bikini bed baths or bungee jumping do not always have the required motivational effect that employers are hoping for, according to research by Vodafone UK and YouGov.The research found that while 66% of workers have been made to take part in some sort ...
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Credit Suisse cuts executive bonus payouts by 57%
Credit Suisse cut its bonus payouts for executive staff by 57% in 2011, compared to 2010.The Swiss bank’s Full-year and fourth quarter results 2011 also showed that group-wide total discretionary variable incentive awards were down 41% compared to 2010.The compensation and benefits across the organisation was SFr1,364 million in the ...
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Brother UK awarded the Pension Quality Mark
Technology firm Brother UK has been awarded the Pension Quality Mark (PQM) for its defined contribution (DC) pension scheme.The award, launched by the National Association of Pension Funds (NAPF) in 2009, recognises organisations that offer pensions schemes with good contribution rates, good quality governance, low charges, and clear and ongoing ...