All Article articles – Page 826
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BMW to return to discussions with trade union about pension scheme
BMW has agreed with trade union Unite to return to discussions on plans to close its final salary pension scheme to new entrants and the use of Swedish derogation in the Agency Workers Regulations (AWR).Following discussions between the car manufacturer and Unite on 12 January, BMW agreed to enter into ...
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Mercer appoints Gail Philippart to retirement services team
Mercer has appointed Gail Philippart as a principal in its retirement business, specialising in defined contribution (DC) pension advice.She will be responsible for managing Mercer’s DC consulting business in the southwest and Midlands.Philippart has over 20 years’ experience in the retirement industry. She joins Mercer from Aon Hewitt where she ...
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The Donkey Sanctuary to introduce payroll services system
International animal welfare charity The Donkey Sanctuary, which provides sanctuary for 14,500 donkeys in 29 countries, will introduce a financial management and payroll services system.The system, from Advanced Business Solutions, will go live in a phased approach from April 2012.The Donkey Sanctuary has grown in size in the past few ...
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Employees turn to chocolate and booze to beat boredom at work
A quarter of office workers suffer from chronic boredom, with many turning to chocolate and alcohol to cope with the drudgery, according to a study by the University of Central Lancashire.The survey found that chocolate and coffee were among the solutions that employees took to reduce boredom, while some respondents ...
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Employees do not trust their pension scheme
The majority (86%) of employees have less trust in their workplace pension scheme than 15 years ago, an increase on the 74% that said the same in 2008, according to research by Towers Watson.The research on the future of workplace savings also found that two-thirds of organisations believe they are ...
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UK employees do not expect pay rise in 2012
Less than 30% of UK workers are expecting a pay rise in 2012, according to research by USwitch.com.The independent price comparison and switching service also found that 65% of respondents have suffered pay freezes, with 15% not seeing a pay rise for at least three years.For those expecting a pay ...
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Baxi Partnership acquires RM2 Partnership
The Baxi Partnership has acquired employee share scheme consultancy RM2 Partnership. RM2 Partnership will operate as a division under Baxi Partnership Advisory, which provides advice on how to embrace sustainable employee ownership.Baxi Partnership is an employee-owned organisation and is welcoming RM2’s 12 staff as new partners into its business.Peter Matthews, ...
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Trafalgar House Pensions Administration appoints software supplier
Trafalgar House Pensions Administration (THPA) has appointed Profund Solutions to provide its pension scheme accounting software. Profund Solutions, part of JLT Employee Benefits Group, will supply the administration firm with its Aviary accounting software.Richard Tartaglia, chief financial officer at THPA, said: “Aviary will enable us to automate a number of ...
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DC governance: Achieving the right outcomes
The Pensions Regulator (TPR) has identified scheme governance, or the lack of it, as one of the biggest threats to defined contribution (DC) pension provision in the UK.A white paper from Johnson Fleming asks:What does DC governance tend to look like?What is good governance and how do you achieve the ...
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Police Arbitration Tribunal supports pay overhaul
The Police Arbitration Tribunal has backed major changes in police officers pay, as recommended in Tom Winsor’s Independent Review of Police Officer and Staff Remuneration and Conditions.The recommendations include a suspension on bonuses, two-year freeze on police officers moving up incremental payscales, and curbs on overtime pay.Paul McKeever, chairman of ...
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Pension jargon puts savers off
One in three (29%) employees put off thinking about saving for retirement because they find pensions confusing, according to research by the National Employment Savings Trust (Nest).The Nest/YouGov survey, which polled nearly 2,000 UK adults, found that few respondents (6%) think pensions are straightforward, 4% find them easy to understand, ...
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EXCLUSIVE: British Airways appoints new employee discount scheme provider
British Airways has appointed Next Jump as provider of its employee discount scheme to give staff a wide range of offers. The new, Altitude Plus scheme launched in October 2011.A previous voluntary benefits scheme had been in place for more than three years until 30 June 2011 and was provided ...
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Unilever staff to strike again over final salary pension scheme closure
Unilever employees are set to strike again as part of the continued fight to save their final salary pension scheme.The action follows on from strike action that took place in December.The global food and households giant plans to replace the scheme with a career average scheme.Leaders of unions Unite, GMB ...
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Towers Watson expands defined contribution pensions team
Towers Watson has expanded its defined contribution (DC) team with the appointment of Richard Sweetman as head of DC pension consulting, and Rob Walker and Michael Varma as senior DC consultants.Sweetman will be responsible for the delivery of DC consulting for the Edinburgh, Leeds and Manchester offices. He has been ...
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US pension deficits widen for second year
The aggregate deficit of pension schemes sponsored by S&P 1,500 companies in the United States increased by $169 billion during 2011 to reach $484 billion, according to research by Mercer.This deficit corresponds to an aggregate funded ratio of 75% as of 31 December 2011, compared to a funded ratio of ...
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National insurance motor mileage reclaim case to be heard by Court of Appeal
The Upper Tribunal has granted permission to Grant Thornton UK to take a national insurance contribution (NIC) reclaim case to the Court of Appeal.The case, on behalf of apprenticeships and workplace-based training supplier Total People, relates to a NIC refund claim based on the difference between HM Revenue and Customs’ ...
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Pilkington secures longevity arrangement for pension scheme
Glass manufacturer Pilkington has put in place a longevity insurance arrangement for its superannuation pension scheme.The arrangement, implemented by provider Legal and General, will insure the scheme against the risk of 11,500 pensioners living longer than expected, with around £1 billion in associated liabilities.Tom Ground, head of business development at ...
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David Cameron signals crackdown on executive pay
Prime minister David Cameron has pledged to tackle large payouts for executives dismissed because of poor performance in an interview with the BBC’s Andrew Marr on 8 January, Cameron promised “clearer transparency, in terms of the publication of proper pay reports and binding shareholder votes”.He also hinted that legislation around ...
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Shell closes final salary pension scheme to new members
Shell has closed the last chapter on final salary pension schemes with the announcement that it plans to close its scheme to new members; the last such scheme in the current FTSE 100 that was open to new staff.Shell currently employs 6,500 people in the UK and has around 30,000 ...
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North Merseyside NHS trusts sign new HR and payroll services contract
Ten NHS trusts in North Merseyside have signed a new contract with Capita for the delivery of transactional HR and payroll services.The new seven-year agreement will also enable other trusts from the north west of England to procure these services from Capita.Raj Jain, chief executive of Liverpool Heart and Chest ...