All articles by David Woods – Page 11
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Article
Northern Rock nationalisation creates pensions anomaly
The nationalisation of Northern Rock has removed concerns over the security of its pension scheme but may created regulatory anomaly around the scheme's investments.Pension schemes are not permitted to invest in their own organisation's assets, however, Northern Rock trustees have moved 93% of its assets into gilts, which are government-issued ...
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Article
Jelf Group acquires healthcare and insurance businesses
Benefits provider Jelf Group has acquired Manson Insurance Group, Bartlett Davies Bicks and Carter & Co. Risk Management.The Manson Group, which includes Manson Warner Healthcare, focuses on healthcare, general insurance and financial services, in the same core business areas as the Jelf Group.Jelf has also acquired Bartlett Davies Bicks (BDB) ...
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Article
Wolters Kluwer (UK) outsources payroll
Wolters Kluwer UK is to outsource its payroll from May.The firm, which had previously managed its payroll in-house, made the decision to outsource in a bid to cut costs and mitigate risk.ADP Employer Services will †provide a online system for the firm alongside training and development, absence management, performance management ...
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Article
No plans for benefits cuts amid recession fears
One-in-three employees expect their benefits package to be cut during 2008 although the majority of employers (95%) have no plans to do this.In fact, almost half (45%) of employers plan to enhance their benefits this year, according to Trends in employee benefits 2008 by Hymans Robertson.Employees’ biggest misconception is that ...
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Article
Government to investigate means-testing around personal accounts
The Government has committed to investigate the impact of means-testing benefits on the planned personal accounts, although industry experts claim this may have been left too late in the process of the Pensions Bill becoming law.The study would look at peoples' savings and how they will be affected by auto-enrolment ...
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Article
Dartford Borough Council wholly outsources HR and payroll
Dartford Borough Council has become the first UK council to fully outsource its entire HR and payroll function enabling it to meet government efficiency targets.By outsourcing the process, the council will save an estimated £50,000 per year.The first payroll run for the council's 400 employees is scheduled for April. All ...
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Article
House of Commons switches DB pensions admin provider
The House of Commons has switched providers for the administration of its defined benefit pension scheme.The scheme currently has approximately 2,000 members, who are or have been Members of Parliament.Sir John Butterfill, chairman of trustees for the fund, said: "We are keen to work with RPMI as [it has] demonstrated ...
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Article
Tesco staff share GBP175 million payout
More than 51,000 Tesco employees will share £175 million in one of the retailer's largest share payouts as two of its sharesave (save-as-you-earn) schemes mature.The Tesco share price was £4.16 when the scheme matured on 1 February, meaning that over 8,000 of employees stand to net over £8,500 each. This ...
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Article
Staying awake at the CIPD Annual Rewards Conference
David Woods, reporter at Employee Benefits: It seems that lot of speakers have an unnerving fear about speaking during the 'graveyard shift' at conferences. This is otherwise known as the hour just after a hearty lunch, when the lure of a comfy seat can prove too much for the weary ...
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Article
Aramark advises staff on diet and lifestyle
Staff at hospitality services provider Aramark have been provided with nutrition and lifestyle advice from a team of specialist nurses.In the pilot of a health awareness partnership, Aramark teamed up with the Flora brand team at Unilever Foodsolutions to invite staff at its Leeds office to attend advice sessions at ...
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Article
Metropolitan Borough of Wirral introduces online absence management
The Metropolitan Borough of Wirral has installed an automated online process for managing sickness absence that cuts out the need to double check and manually record sickness absence.The sickness absence system will enable line managers to process absence claims remotely making the process faster and more convenient. It will also ...
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Article
Pensions Regulator unveils guidelines on contract-based DC pensions
The Pensions Regulator has published guidelines for employers suggesting how they can become more involved in the governance of contract-based defined contribution (DC) pension schemes, including group personal pension plans.The Voluntary employer engagement in work place contract-based pensions schemes guidelines suggest employers can become more engaged in their scheme by ...
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Case Studies
BDO Stoy Hayward offers trust-based salary sacrifice plan
BDO Stoy Hayward offers a trust-based defined contribution (DC) scheme, into which staff can make contributions on a salary sacrifice basis through the company’s flexible benefits scheme.Staff can make additional voluntary contributions on top of those made from their flex allowance. Those who do so also receive a ‘special employer ...
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Analysis
Plan the right route
With personal accounts and auto-enrolment due in 2012, employers may review their defined contribution pensions, says David WoodsRarely a week goes by without pensions hitting the headlines for one reason or another. When faced with defined benefit pension scheme deficits, many companies have opted to cut their losses and close ...
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Article
Interview with Helena Peacock, HR director at Penguin
Helena Peacock combines HR, legal and company secretarial roles at Penguin, which has been a learning curve, posing challenges around pay and engagementHaving come from a legal background and developed a specialism in tax law, a move into HR management was an unexpected career change for Helena Peacock, HR director ...
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Analysis
Irish perks in clover
The Republic of Ireland might be enjoying prosperity and new investment, but a buoyant jobs market has driven up the cost of talent, forcing perks into the spotlight, says David WoodsNo longer seen as the butt of bar-room jokes, the Republic of Ireland is having the last laugh with a ...
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Article
EU directive casts shadow over contract-based pensions
The future of contract-based pension schemes looks uncertain with the advent of personal accounts.A European Union Distance Marketing Directive does not allow employers to automatically enrol staff into contract-based pensions. This means that when legislation supporting the national pensions savings scheme comes into effect in 2012, staff who are not ...
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Article
Arcadia moves voluntary benefits scheme in house
Arcadia Group is to move the management of its voluntary benefits scheme in house from April.The retail firm which previously used a third-party provider, hopes that the move will enable it to offer staff discounts from organisations that have a strategic relationship with Arcadia's brands, as well as offering discounts ...
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Article
Take-up affected if perks don't suit staff lifestyles
A lack of interest in benefits and a failure to tailor perks to suit individual lifestyles are the two main reasons why employees do not take up the benefits they are offered.Almost a third (27.9%) of HR managers believe staff are failing to utilise their benefits package because they are ...
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Article
Zurich adds health perks and salary sacrifice on canteens
Zurich Financial Services has introduced a salary sacrifice scheme for food in its on-site restaurants and mole screening for staff.To gain discounts on food in the company's on-site canteens, staff can put money onto their 'ZEDCard' via a salary sacrifice arrangement. They then swipe the card at kiosks in the ...