All Article articles – Page 863
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Barnett Waddingham research: Employers face defined benefit risks
Twenty-nine organisations in the FTSE 350 have deficit contributions that exceed free cashflow, according to new research by Barnett Waddingham.The research highlights the impact defined benefit (DB) - or final salary - pension schemes are having on UK businesses.In addition, for more than 70 organisations the annual DB deficit contributions ...
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World at Work and Hay Group research: Career development is top reward fairness concern
Career development opportunity is the top concern in reward fairness, according to new research by World at Work, Hay Group and Professor Dow Scott from Loyola University Chicago.The Reward fairness: slippery slope or manageable terrain? report identified the criteria that have the biggest impact on employee perceptions of reward fairness.After ...
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Hoover renews pension administration contract
The trustee of the Hoover pension scheme has entered into a further five-year deal with JLT Benefit Solutions which will provide pension administration services.The defined benefit scheme and has more than 13,000 members. Barry Hawkins, group pensions manager at Hoover, said: “The trustee’s experience had been encouraging and the trustee ...
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Spence and Partners is appointed to actuarial panel
The Pension Protection Fund (PPF) has appointed Spence and Partners Actuaries and Consultants as a member to a new actuarial panel.The PPF has chosen five actuarial firms for the panel that will assist in carrying out valuations for pension schemes going through the PPF assessment period.Brian Spence, managing director at ...
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Capita Hartshead launches online annuity quote tool
Real time annuity quotes are now available to Capita Hartshead's clients following the launch of a new online tool.The latest addition to Hartlink Online allows employees to see what pension they can purchase with their ‘pension pot’. The online application lets employees generate quotations direct from the main annuity providers ...
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Acorne grows new team events service
Experience days specialist Acorne has launched a team events service for business clients.The name behind brands such as Virgin Experience Days, The Virgin Voucher, Leisure Vouchers and Exhileration, Acorne now offers group packages at popular venues, designed to reward, motivate and build strong bonds through shared experiences.Acorne also offers a ...
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Personal Group re-brands as product range expands
Employee benefits and financial services provider Personal Group has unveiled a new brand image, with a new logo aimed at combining traditional values with modern developments.The new look is launched at a time when Personal Group is expanding its products, including developing a new customer portal due to be launched ...
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Creative Benefits research: Auto-enrolment could see employers throw away £2.1 billion a year
British employers could be wasting as much as £2.1 billion a year from 2012 when auto-enrolment is introduced, according to research conducted by Creative Benefits.The employee benefits consultancy has estimated that 20% of private sector employees, more than four million people, will not benefit from pensions savings or should opt ...
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Capita Hartshead acquires NorthgateArinso’s pensions operations
Capita Hartshead has announced the acquisition of NorthgateArinso’s pensions business.The division, which has around 64 clients, provides outsourcing administration and services to in-house pension departments.It is proposed that the 89 employees who work in NorthgateArinso’s pension division will transfer to Capita Hartshead.The completion of the contract is scheduled for 5 ...
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Punter Southall research: One in five employees ‘want to opt out of pensions’
One in five respondents have seen employees wishing to opt out of pension schemes as a result of this year’s new tax regime, according to research by actuarial firm Punter Southall.And more than 40% thought that senior management would be less engaged in schemes over the longer term as a ...
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Pitmans Trustees to launch a specialist unit for charity pension schemes
Pitmans Trustees has announced plans to launch a new specialist unit that will focus exclusively on charity pension schemes.Melanie Cusack, client director at Pitmans Trustees, will head up the unit.Cusack said: “The charity sector has very specific needs which, all too often are not being met.“We have gained valuable insight ...
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Trinity Mirror throws in the towels
At a time when many parts of the media industry are experiencing intense scrutiny, journalists could be forgiven for throwing in the towel.Journalists at Trinity Mirror, however, will have no towels left to throw after the organisation announced it is cutting back on gym perks in its Canary Wharf offices ...
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Asda celebrates 15,000 years’ service from employees
Asda employees celebrated 15,000 years’ service at the supermarket’s Big Anniversary celebration.The 700 attendees of the celebration will receive an extra week’s holiday and £300 each.The annual event, this year held at Harewood House in Leeds on 20 July, recognises employees with 25, 30 and 40 years’ service with the ...
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Government to consult on public sector pension reforms
The government will start formal consultations on increasing public service pension contributions in 2012-13 by the end of this month.Chief secretary to the Treasury Danny Alexander plans for talks on reform to continue into the autumn. The government and the Trades Union Congress have agreed that to further inform the ...
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Finance Act 2011 enshrines changes to allowances in law
The Finance Act 2011 includes a radical shake-up of the system of allowances, which limit the amount of tax-efficient savings in a registered pension scheme.The act, which received royal assent this week, reduced the annual allowance from £255,000 to £50,000 with effect from 6 April this year.Employees are protected against ...
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Pirelli appoints Cardano to manage defined benefit pension schemes
The trustees of Pirelli’s UK pension schemes have appointed Cardano to manage all Pirelli’s defined benefit UK funds.The £600 million fiduciary mandate will see Cardano take fully delegated responsibility for managing the relationship between the assets and liabilities for the schemes.Flavio Cateni, trustee of the Pirelli Common Investment Fund and ...
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Nest Corporation research: Financial crisis changed saving behaviours of DC pension scheme members
The financial crisis significantly changed the saving behaviour of defined contribution (DC) pension scheme investors, according to research commissioned by the National Employment Savings Trust (Nest).The Reactions to volatility and loss research, conducted by DCisions, consisted of analysis of two groups of savers: a target or proxy group whose personal ...
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Equiniti launches online employee share portal
The Equiniti Group has launched a new platform to enable employees to access and manage their share plans online.The ESP portal, which can be employer branded, allows employees to view their holdings, access their plan information and transact and sell shares.Employees can log on to the portal through a link ...
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Pensions Trust launches new ethical fund
The Pensions Trust has added a diversified ethical fund as a new investment option for more than 5,300 members of its flexible retirement plan.The fund, which is also open for new joiners, has three ultimate aims: investing in companies that make a positive contribution to society; using influence as an ...
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Cable and Wireless includes staff in charitable foundation
Cable and Wireless Worldwide is aiming to engage its 6,500 international employees and reinforce its corporate social responsibility profile with the launch of a charitable foundation.The Cable and Wireless Worldwide Foundation, which was launched in June, is aimed at enhancing the lives of those with special needs through communications, as ...