All Article articles – Page 843
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Finmeccanica, Taylor Wimpey and Total E&P UK awarded PQM Plus
Finmeccanica, Taylor Wimpey and Total E&P UK have been awarded the Pension Quality Mark (PQM) Plus.The PQM, launched by the National Association of Pension Funds (NAPF) in September 2009, has been awarded to 125 pension schemes. It recognises defined contribution (DC) pension schemes with contributions of at least 15%, with ...
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NAPF publishes guide to help understand pension scheme performance
The National Association of Pension Funds (NAPF) has published a guide to help trustees and pension fund managers understand the three fundamentals for the evaluation of a pension scheme’s performance. Produced and sponsored by JP Morgan, Performance measurement, attribution and risk made simple, is the latest in a series of ...
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NAPF research: Over half of employees are likely to stay in the pension when auto-enrolled
As many as 57% of employees said they are likely to stay in the pension that they are automatically enrolled into from October 2012, according to research by the National Association of Pension Funds (NAPF).Among these pro-enrolment workers, 49% think it is a good deal to get 3% in contributions ...
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NAPF conference: Pension reforms will create further level of pension provision
The 2012 pension reforms will create a further tier in occupational pension provision, according to Nick Walker, pensions officer at the Union of Shop, Distributive and Allied Workers (USDAW).Addressing delegates attending the National Association of Pension Fund’s (NAPF) annual conference in Manchester, Walker said that employers would hang on to ...
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Taxman urges employers not to refer to employees as 'unknowns'
Employers are clearly not as in touch with their workforce as they claim to be as data sent to HM Revenue and Customs shows.In 2009/10, more than 500 PAYE forms incorrectly claimed to employ A N Other, 128 staff were entered as Mr, Ms or Mrs Dummy, and 40 employees ...
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JLT Wealth Management launches financial advice helpline
JLT Wealth Management (JLTWM) has introduced a financial advice helpline in preparation for the effects of the retail distribution review (RDR).Advice Centre, the telephone-based service, will support employers in providing financial advice to their employees.Karen McCaffrey, managing director at JLTWM, said: “High standards of fee-based financial advice for employers is ...
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Aon Hewitt research: 10% of pension schemes have funding-level triggers
One in ten pension schemes has funding-level triggers in place, according to research by Aon Hewitt.The survey, which covered schemes ranging in size from under £10 million to over £5 billion, found that the majority of funding-level triggers have been put in place within the last two or three years.Aon ...
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Willis launches auto-enrolment product
Willis Employee Benefits has introduced a product to provide employers with tools to manage the auto-enrolment requirement of the 2012 pension reforms.†The product includes a consultancy service to enable employers to understand how the requirements relate to their circumstances and what the impact will be on their business.It also offers:Advice ...
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Debi O'Donovan, editor of Employee Benefits: DC pension plan members are also impacted by high inflation
Anyone else think it odd that pensions advisers only seem to think that rising inflation is an issue for defined benefit schemes?I think what they mean is that it is an issue for employers (ie their cleints) with DB scheme; employers don't have to worry about their defined contribution (DC) ...
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Inflation rises will see pensions increase next year
Many members of final salary pension schemes can expect to see their pensions increase by around 5% next year after it was announced that both the consumer prices index (CPI) and the retail prices index (RPI) topped this level.The CPI measure of inflation for September stood at 5.2%, up from ...
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Line managers are key to addressing sickness absence
Line managers are key to tackling sickness absence in the workplace, agreed a roundtable held by Legal and General.In light of the imminent release of the government’s sickness absence review, expected at the end of October, Esther McVey, MP and parliamentary private secretary to Chris Grayling, minister of state for ...
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Whitbread wins top prize at payroll giving awards
Whitbread has been awarded the best overall payroll giving campaign at the National Payroll Giving Excellence Awards 2011.The hotel and restaurant organisation, which owns Premier Inn, Beefeater and Costa Coffee, was commended by the judges for a 20% take-up among its 35,000 employees. This was felt to be particularly impressive ...
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D Young boosts healthcare benefits with savings from pensions salary sacrifice
D Young has increased its healthcare provision with savings made from offering a pensions salary sacrifice arrangement.Its new health cash plan includes access to opticians and prescriptions for employees, and health screening and employee assistance programmes (EAPs) for family members.The firm already offers private medical insurance (PMI), health screening and ...
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Axa asks members of final salary scheme to give up higher pension increases
Pensions provider Axa is offering retired members of its final salary pension scheme the chance to take part in a pension increase exchange.Pensioners that participate will agree to take a higher pension now in return for lower increases in the future. Axa has confirmed that affected members will have free ...
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Tindle Newspapers awards a bonus to all employees
Tindle Newspapers is to award all staff a bonus in light of the financial success of its community newspapers.Every full-time employee will receive a minimum lump sum of £125, which will increase according to the profits of each Tindle centre, up to a maximum of £400 a head.Tindle Newspapers has ...
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Capita Hartshead staff volunteer in the community
Capita Hartshead employees in Sheffield will be volunteering with primary school students in a charity initiative designed to teach young people about business.The initiative, the Southey Rave (Raising aspiration and the value of education), run by Business in the Community (BITC), was first piloted in Leeds, where it was a ...
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NAPF research: One in three accept a job without knowing about the pension
One-third (31%) of employees accept a new job with no idea about whether it comes with a pension scheme, according to research by the National Association of Pension Funds (NAPF).The survey, run by pollsters Populus, showed that 25% started their first day in a new job without knowing if a ...
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Metlife Assurance research: Four out of five employees would welcome advice on pensions
More than four out of five employees would welcome advice on pensions in the workplace, according to research by Metlife Assurance.The pensions risk transfer provider’s nationwide survey showed that, when given the option of receiving pensions advice from either their employer, an independent financial advisor (Ifa) or a government-sponsored approach, ...
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Capita TV Licensing workers strike over low pay offer
Capita TV Licensing workers are striking today over a below-inflation pay offer.The offer, £550 for 2010 and £600 for 2011, represents a minimum increase of 2.6% and 2.7%, respectively. This falls short of the retail prices index (RPI) levels, which have averaged 5% since April 2010.Workers across the UK, working ...
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Draka UK appoints SEI for fiduciary management of DB scheme
Draka UK has appointed SEI to provide fiduciary management services for its defined benefit (DB) pension scheme.The appointment followed a formal review process of fiduciary managers conducted by KPMG Investment Advisory. KPMG assisted the trustees in managing a request for proposal and individual site visits.Alex Carter, trustee and finance director ...