All articles by David Woods – Page 14
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Article
DC contributions rise
The average combined contribution rates to the defined contribution (DC) schemes at the UK's largest firms has risen by a full percentage point to 14.7% of salary in the last year. According to Watson Wyatt's 2007 FTSE 100 defined contribution pension scheme survey, such contribution rates - of which the ...
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Article
Retailers use raft of perks to motivate staff at Christmas
High-street retailers across the UK are putting perks in place to help boost employee motivation during the busy pre-Christmas period.Supermarket chain Asda will provide all staff with a personalised Christmas card, a free festive meal at their workplace canteen, £5 for every member of staff to put towards Christmas parties ...
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Article
Fifth of staff choose not to correct overpayments
A fifth of employees (20%) have not informed their employer when they have been overpaid, according to the Understanding payroll survey conducted by ADP Employer Services and YouGov. However, just 2% said they didn't report a shortfall in their pay when they were underpaid. In total, more than half (59%) ...
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Analysis
Buyer’s guide to motivation vouchers
The debate continues over paper vouchers versus electronic cards as technological growth offers more reward options, says David WoodsTechnological advances in recent years have helped transform the motivation voucher market which, historically, has not been the most innovative on the product development front.The introduction of electronic motivation gift or pre-pay ...
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Pension buy outs hot up?
As Emap off-loads two of its defined benefit plans, does this mark a new trend among larger employers, asks David Woods.Emap's decision to off-load its two largest defined pension (DB) schemes, with combined assets of £170m, to insurance company Paternoster has not only removed its DB liabilities from the balance ...
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Analysis
Technology's growth boosts voluntary plans
As technology advances, employers can make use of personalised communications and detailed management information, explains David WoodsThe phrase 'we live in a changing world' has become something of a clich», but it is true in the field of voluntary benefits. Technological advances and the widespread use of the internet in ...
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Friends Provident to launch flexible benefits
Financial services firm, Friends Provident is to launch a flexible benefits scheme for its 4,100 employees within the next 12 months.It is also introducing online total reward statements and online pay slips to help ensure that all employees have a sound understanding of their benefits package. The firm has provided ...
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BDO Stoy Hayward revamps flexible benefits
BDO Stoy Hayward has revamped its flexible benefits scheme to offer staff the chance to contribute into its occupational defined contribution pension from their flex allowance via salary sacrifice.To encourage saving, staff who decide to make extra voluntary contributions, will receive an additional 10% of their total contribution in 'special ...
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Article
3D Entertainment considers moving staff into GPP plan
3D Entertainment Group is considering closing its stakeholder pension scheme in the new year and moving staff into its group personal pension (GPP).The move follows the introduction last month of a voluntary benefits scheme provided by PeopleValue.The bar operator also plans to provide general managers and head office staff with ...
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Article
Company car drivers still use mobiles at the wheel
A number of company car drivers still use handheld mobile phones whilst at the wheel, despite proposals from the Crown Prosecution Service (CPS) to charge drivers whose phone use causes danger with dangerous driving.According to a survey of 500 company car drivers by Alphabet, 30% of respondents make and receive ...
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Analysis
Need for financial education around stakeholder pension schemes
All too often employees in stakeholder schemes simply plump for the default investment option due to a lack of interest and knowledge, so should employers provide more education, asks David WoodsSelecting which fund to invest in through a stakeholder pension scheme can be a tricky task for many employees, particularly ...
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Article
Prudential to outsource administration services
Prudential UK is to outsource policy administration and claims activity to Capita, saving the pensions provider £60m by the end of 2010.Under the terms of the 15-year agreement, Capita will also provide customer servicing, new business processing and related IT support to Prudential UK.†It also means that 1,750 UK employees ...
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Article
Carmarthenshire council boosts voluntary benefits offering
Carmarthenshire County Council has provided its 9,500 members of staff with a selection of voluntary benefits in an effort to boost motivation, reduce absence and help attract a high calibre of employees to the organisation.The voluntary benefits have been provided by Vectis and include retail discounts, reductions on the cost ...
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Article
PPF overrules appeals on levy payments
The Pension Protection Fund (PPF) has overruled appeals that have already been deemed successful and is now charging companies millions of pounds more on their levy payments, claims Aon Consulting.Aon claims that a number of companies with large deficits have received letters from the PPF in the past few days ...
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Article
The Body Shop introduces self-service HR module
The Body Shop has introduced an HR and payroll solution that includes a self-service module allowing staff to claim holiday as part of its wider green strategy.Employees will now be able to fill in time sheets, holiday requests and training forms online. The tool is provided by Northgate HR and ...
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Article
IPC Media raises staff awareness of mouth cancer
IPC Media has raised employee awareness of mouth cancer by giving staff tips on how to maintain good oral health.Timed to coincide with Mouth Cancer Awareness Week which took place last week, employees were given literature on oral health and travel toothbrushes by representatives of HSF Health Plan manning a ...
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Allianz Insurance boosts awareness of flexible benefits
Allianz Insurance is refreshing its internal communications for staff in order to raise awareness and understanding of its flexible benefits scheme.The communications campaign to accompany the 2008 launch of its ‘Your Choice’ scheme, which is now in its second year, will include posters, desk drops, internal magazine adverts, leaflets and ...
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Article
HMRC chairman quits
The chairman of Her Majesty's Revenue and Customs (HMRC), Paul Gray, has quit after confidential details of 25 million people who receive child benefits, were lost by the department.This comes only weeks after an HMRC external courier lost a package containing the details of 15,000 Standard Life pensions clients.The Chancellor ...
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Article
Sick leave is a 'way of life' in DfT agencies
The Driving Standards Agency and the Driver and Vehicle Licensing Agency (DVLA) have been found to have average sickness absence levels in excess of 13 days per year and have been called upon to tighten up their sickness management by a Parliamentary watchdog.According to the House of Commons’ Committee of ...
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Analysis
Absence issues and the benefits to keep them at bay
Absence issues can involve a complex web of reasons, but although there may be no way to combat coughs and colds, perks can be strategically positioned to help tackle bouts of sickness caused by stress or musculo-skeletal injuries, says David WoodsSickness absence is a problem that never seems to go ...