All Case studies articles – Page 69
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Case Studies
Case study: Many assets classes reduce pension fund risk for Towry
Towry focused on the diversification of asset classes when designing the investment strategy for its group personal pension (GPP) scheme. After switching its pension provider from Axa to Zurich in 2009, the financial advice firm was able to offer its own funds to scheme members. This means staff can access ...
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Case Studies
Case study: FirstGroup focuses on age for pension investment strategy
?FirstGroup has designed the investment strategy for its contract-based defined contribution (DC) pension schemes to take account of an employee’s age and appetite for risk.The transport operator, which runs two contact-based DC plans in the UK, has devised a series of investment options based on these criteria and has created ...
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Case Studies
Case study: Ford drives up number of returning mums
Ford Motor Company offers maternity leave of 52 weeks at 100% of pay. All employee benefits, including pension contributions and company car, continue throughout that period. The company, which has 12,000 staff in the UK, won ‘Best for maternity’ in Working Families’ Top Employers awards 2010.Ford operates a buddy system ...
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Case Studies
Case study: NHS Bradford and Airedale District Support Service seeks a work-family balance
NHS Bradford and Airedale District Support Service has a number of schemes that are tailored to support its17,000 staff in achieving a healthy balance between work and family.Its Childcare Support Services won ‘Most effective benefits strategy for working parents and carers’ at the Employee Benefits Awards 2010.Since its programme was ...
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Case Studies
Case study: Julius Baer banks on international pension plan
Swiss private banking group Bank Julius Baer offers an international pension plan for 70 employees in locations such as Singapore, Egypt and Latin America. A further 60 staff are covered by a subplan in Dubai and Abu Dhabi.The scheme, which has been in place for four years, is administered in ...
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Case Studies
Case study: Berkshire sets up longevity insurance
The Royal County of Berkshire was one of the first local authorities in the UK to hedge its longevity risk. Nick Greenwood, pension fund manager for the Royal County of Berkshire Pension Fund, wanted to reduce volatility around the scheme's assets and liabilities, making the employer contributions more stable and ...
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Case Studies
Case study: Diageo offers liquid assets
In its efforts to reduced its DB scheme’s deficit, Diageo, which owns a number of Scotch whisky distilleries, contributed £430 million in maturing whisky to a joint venture. This will cut the scheme deficit of almost £900 million and reduce the levy charged by the Pension Protection Fund (PPF). This ...
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Case Studies
Case study: Archant reduces emissions
One-third (30%) of media group Archant's 2,000 staff have opted for lower-carbon-emitting cars through the firm's green contract hire and leasing car scheme. CLM manages the scheme, which was introduced to reduce the fleet's carbon footprint.As well as aiming to drive current CO2 emission levels from an average of 146g/km ...
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Case Studies
Case study: Marriott staff create woodland
Marriott UK has introduced a carbon capture payroll-giving scheme through The Woodland Trust. By donating part of their salary, staff can reduce their carbon footprint by having trees planted.The benefit, which is aligned to Marriott's environmental strategy 'Spirit to Preserve', was communicated using its benefits website, payslip flyers and a ...
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Case Studies
Case study: Kent County Council keeps pay rates local
Kent County Council has an unusual approach to public sector pay. It introduced local pay rates in 1990 and, over the past five years, has allowed unions to engage in local pay bargaining.In April 2010, the council reformed its pay structure for about 13,000 staff, excluding schools, by removing annual ...
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Case Studies
Case study: Toyota fine-tunes expatriates' benefits needs
In common with many other employers, Toyota GB is making expatriate arrangements fit in with its cost-conscious policies.Francesco Mereu, director of HR, corporate planning and CSR, says: “Due to the economic crisis, there has definitely been a decrease in expatriates. The benefit of such an assignment is analysed more rigorously ...
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Case Studies
Case study: Thomson Reuters uses multinational pooling for risk benefits
Thomson Reuters operates five multinational pooling arrangements for risk benefits such as life insurance, disability cover and, where viable, medical insurance. It has operated this arrangement, where possible, across the 90 countries in which it has a presence for at least nine years.Mohammed Valjy, international benefits manager at Thomson Reuters, ...
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Case Studies
Case study: Casual worker wins pension plan claim
In November 2010, the UK Pension Ombudsman rejected and overruled a decision taken by the Telegraph Media Group to exclude a former staff member it considered a casual worker from its pension scheme.The ruling followed a claim by Glyn Roberts, who worked a regular Saturday shift as a sub-editor for ...
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Case Studies
Case study: Court rejects retirement age appeal
The Court of Appeal rejected an appeal by Leslie Seldon, who was forced to retire at 65 by his employer, law firm Clarkson Wright and Jakes.In the case Seldon v Clarkson Wright and Jakes, the court deemed that it was not unlawful to make Seldon retire at 65 after a ...
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Case Studies
Case study: Honda helps money go further for staff
At Honda's factory in Swindon, staff can access benefits to help them make their money go further. The main offerings in the company's "What if..." scheme are a pension plan, which has the option of additional voluntary contributions, childcare vouchers and a cycle-to-work scheme.All employees are also offered private medical ...
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Case Studies
Case study: Schlumberger powers a healthier workforce
Oil and gas firm Schlumberger has reimbursed employees’ gym membership up to a maximum of £250 a year for many years. On 1 July 2010 it rolled out Gymflex, provided by Incorpore, making 2,500 health clubs across the UK and Ireland available to the 3,000 staff who are eligible for ...
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Case Studies
Case study: BMI Healthcare goes for healthy options
Most of BMI Healthcare's employees are clinical professionals - nurses, physiotherapists and radiographers - so it is not surprising healthcare is one of the most popular benefits.The healthcare provider offers a pension, life assurance, paid sick leave beyond statutory requirements, private medical insurance (PMI) and health assessments.Catherine Ward, group HR ...
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Case Studies
Case study: Capital One in credit on auto-enrolment
Capital One is well ahead of the game in preparing for the 2012 pension reforms - it has already introduced auto-enrolment and auto-increases.Working from the premise that the credit card firm's staff should be encouraged to save more for their retirement, its pensions governance committee decided to introduce an arrangement ...
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Case Studies
Case study: Unisys has three categories of flex
IT services company Unisys has had a flexible benefits scheme for 13 years. This has changed a lot over that time to reflect staff interests, and is split into three categories - security, wellbeing and lifestyle.Unisys' workforce has an 80/20 male/female split, most staff have at least 10 years' service, ...
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Case Studies
Case study: PricewaterhouseCoopers offers flexible and voluntary perks
PricewaterhouseCoopers (PwC) offers core, flexible and voluntary benefits.The core benefits - life assurance, personal accident, income protection, and private medical insurance - offer a fixed level of cover, but staff can increase this if they wish.Flexible benefits include holiday trading - down to a minimum of 20 days or up ...