All Article articles – Page 856
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LogBuy adds mobile phone application to voluntary benefits platform
LogBuy has added a mobile application (app) and a daily-deals programme to its voluntary benefits platform.Employers in the UK and Scandinavian countries that currently use LogBuy's products have been automatically upgraded to the new platform.The app, which is available on all smartphones, will allow users to access local deals as ...
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Mouchel adds discount scheme to voluntary benefits
Mouchel has added an employee discount scheme to its voluntary benefits package.The scheme, which is called Aspire Premium Discounts, is provided by Cottrills.It is offered alongside an employee discounts scheme, which has been provided by Asperity Employee Benefits for the past year. The Aspire scheme offers limited-time discounts of up ...
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BA adds salary sacrifice for additional voluntary contributions to its pension scheme
British Airways is introducing salary sacrifice for additional voluntary contributions (AVCs) into all of its pension schemes, with effect from 1 October.Its SmartAVC scheme will enable staff to save national insurance (NI) on AVCs, while also offering NI savings for BA.BA runs two defined benefit (DB) pension schemes, which were ...
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Employee Benefits/Randox Health Checks health screening roundtable discussion 2011
Download a PDF of the Employee Benefits/Randox Health Checks health screening roundtable discussionView 10 minute video of health screening discussionEngagement: Attracting interestWellness: A wider view of wellnessData: Getting the vital statisticsOlder workers: New plans for an older issueStress: Pressure tests to find stressEditor’s commentIn an age of high medical inflation ...
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Phoenix Group closes two defined benefit pension schemes to future accrual
Phoenix Group has closed two of its defined benefit (DB) pension schemes to future accrual.Trustees of the two pension schemes agreed to the closure, which will bring a curtailment gain of £10 million relating to a release from future liabilities.Members of the two schemes are staff from the firm's Pearl ...
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Employees working in haunted environments need support
News that employees renovating an Italian museum stopped work because they believed it was haunted raises questions over whether employers’ reward packages are equipped to deal with supernatural occurrences.Builders working overnight at the National Archaeological Museum in Naples, claimed that they heard soul-piercing screams, experienced changing temperatures and even saw ...
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ReThink Recruitment research: Pay for digital and social media staff on the rise
Senior digital and social media employees have seen their pay soar by almost 70% over the last three years, according to research by ReThink Recruitment.The research found that these employees, known as pay-per-click (PPC) and search -engine optimisation (SEO) staff, now earn average base salaries of approximately £75,000 per year, ...
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Employers focus on attracting school leavers
Employers’ benefits and reward offerings for young employees are in the spotlight following A-level and GCSE results.Some of the UK’s largest organisations are aiming to attract high-achieving school leavers in addition to university graduates. This comes amid fears that higher university tuition fees will affect the diversity of graduates.Accountancy firms ...
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Royal Bank of Scotland's pay rates for temporary workers revealed in email
An email sent out by an employee at recruitment firm Hays has revealed the pay of over 3,000 temporary contractors at the Royal Bank of Scotland (RBS).According to the email, temporary staff at RBS were paid daily rates of up to £2,000.An RBS spokesperson said: "We are extremely disappointed that ...
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Admiral Group shares £8 million bonus pot with staff
Admiral Group staff will split an £8 million bonus payout from the organisation’s approved share incentive plan (Sip).The employee share scheme will distribute £8 million in shares to 5,700 staff, which works out to £1,500 worth of shares per employee.The payout comes after the firm posted a pre-tax profit of ...
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Nova Chemicals enters into pension insurance buy-out agreement
Nova Chemicals has entered into a pension insurance buy-out agreement with Pension Insurance Corporation.The buy-out agreement covers liabilities of £30 million and the manufacturer’s 155 pension scheme members.It is the result of a risk management approach taken by the scheme’s trustee, which saw the trustee invest in low-risk assets and ...
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Coloplast provides free fruit for staff
Medical devices firm Coloplast is providing free fruit to employees in its Peterborough office.The initiative is part of an on-going employee wellbeing programme, and aims to help staff avoid the afternoon lull.Sam Sedwill, HR director at Coloplast, said: “The health and wellbeing of our staff is very important to us."When ...
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Employers seek clarification on 2012 pension reforms
Employers preparing for the 2012 pension reforms, including auto-enrolment, are seeking clarification on how to manage employee data and the definition of basic pay.Richard Murray, group pensions manager at First Group, said that he is overwhelmed by the amount of information on the reforms coming from the Department of Work ...
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SuperGroup execs opt out of pay rise and long-term incentives
The three executive directors of FTSE 250 fashion firm SuperGroup have opted out of a pay rise and long-term incentives, claiming that they are incentivised enough by their large shareholding.The organisation’s annual report revealed that the board, led by founder Julian Dunkerton, have frozen their pay and taken themselves out ...
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Vodafone to launch global compensation software programme
Vodafone Group is launching a software programme to manage its fixed and variable compensation for 85,000 employees across 20 countries.The Compensation Cockpit from Excentive International will enable the organisation to manage bonus calculations, long-term incentives, salary reviews and allowances.Bernd Flossbach, head of group reward operations and policies at Vodafone Group, ...
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Warner Goodman research: Default retirement age legislation tops HR agenda
The removal of the default retirement age is top of the most important issues facing organisations in Hampshire, according to research by Warner Goodman.The study found that 60% of respondents from small to medium-sized enterprises (SMEs) have welcomed the legislation that means employees no longer have to retire at 65, ...
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Headlam Group halves pension scheme deficit
Headlam Group has reduced the deficit of its UK defined benefit (DB) pension scheme from £22.4 million to £11.5 million since March 2008.The reduction follows an enhanced transfer value (ETV) exercise, which offered deferred members of the UK DB pension scheme the opportunity to transfer out on enhanced terms.Since June ...
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HSBC and Lloyds Banking Group tackle pension deficits with transfer of hard-to-sell assets
HSBC and Lloyds Banking Group are transferring hard-to-sell assets into their pension schemes in order to help reduce growing fund deficits.HSBC made a payment of £1.76 billion into its pension scheme in December 2010. The sum was made up of illiquid assets ranging from subordinated debt to asset back securities.Lloyds ...
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Payroll Giving in Action launches smartphone payroll donation service
Payroll Giving in Action (PGA) has launched a smartphone-friendly payroll donation service called Go Mobile.Owners of smartphone devices, including iPhone, Blackberry and HTC, can access the online giving initiative, which allows employers to create and promote their own payroll giving website to employees.The site can be shared with employees electronically ...
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ITV protects pension scheme from longevity risk
ITV has partnered with Credit Suisse to protect its pension scheme from increasing longevity.Under the contract, the ITV pension scheme will make fixed monthly payments to Credit Suisse. In return, Credit Suisse will make payments to the scheme that broadly match the value of benefits being paid out.The fixed payments ...