All articles by David Woods – Page 3
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Occupational pension scheme membership drops
The number of active occupational pension scheme members has fallen by one million people since 2004.According to figures published by the Office for National Statistics, Occupational Pension Schemes, in 2007, there were 8.8 million active pension scheme members, compared with 9.8 million in 2004.This is mainly due to a drop ...
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John Lewis Partnership to improve pensions provision
The John Lewis Partnership is to enhance its final salary pension scheme and introduce a defined contribution (DC) plan for new joiners in order to include more staff in the scheme and engage them with the organisation.The changes, which will be implemented as a result of staff feedback, will mean ...
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Travis Perkins harmonises benefits
The Travis Perkins Group, which owns Travis Perkins and Wickes, has appointed a new voluntary benefits provider in a bid to provide a harmonised offering to staff and to increase employee engagement.Previously two providers supplied the voluntary benefits in the group, one for Travis Perkins and one for Wickes. Travis ...
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Home Retail Group launches financial education
Home Retail Group has launched financial education for staff in association with the Financial Services Authority (FSA) to help employees make the most of their money.The firm held presentations last month at nine of its distribution centres as well as at its head offices in Milton Keynes and Wallington. More ...
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Mileage rate discrepancy is 'nightmare for employers'
HM Revenue & Customs (HMRC) has caused "a nightmare for employers" by increasing the advisory fuel rates that can be reimbursed for drivers of company cars, but not raising rates for people who use their own cars on business.The new rates (see table) will come into effect on 1 July ...
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Court rules against discrimination of carers
The European Court of Justice (ECJ) has ruled that carers must not be treated less favourably than other employees whose circumstances are not materially different, for example those with childcare responsibilities.In the case of Attridge Law v Coleman, the ECJ ruled in favour of Sharon Coleman, a single mother of ...
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Equality Bill addresses gender pay gap
Employers in the private sector could be forced to reveal the differences in salary between male and female staff under the Equality Bill, published last week.Harriet Harman, minister for women and equality and leader of the House of Commons, said it is hoped this will encourage employers to narrow the ...
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Employers could face fines for encouraging staff out of pensions
Employers could be fined if they offer staff higher salaries or bonuses to encourage them not to participate in their occupational pension scheme.The Department of Work and Pensions (DWP) intends to amend the Pensions Bill as it passes through the House of Lords to make this practice unlawful.The amendments will ...
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The Lawn Tennis Association serves up total reward statements
The Lawn Tennis Association (LTA), has launched online total reward statements to coincide with the Wimbledon Championships.The organisation, which is the governing body of British tennis, implemented the statements for its head office as and field-based staff in order for employees to fully understand the value of their benefits package. ...
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Employees don't understand workplace pensions
Employees have a poor understanding of workplace pensions, particularly around the available tax relief and employers' contributions.According to the National Association of Pension Funds (NAPF) Workplace Pensions Survey 2008, 29% of scheme members and 42% of non-members are unaware of the tax relief they could gain on their contributions. Just ...
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Local government staff vote to strike over pay deal
Local government staff have voted for a programme of strike action over a 2.45% pay offer.Members of Unison in England, Wales and Northern Ireland have voted by 55% to 45% in favour of the strike. The union's negotiating team will now meet to decide what action to recommend to the ...
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Employers increasingly look to pension buyouts
A growing number of employers looking to pension buyouts for their defined benefit (DB) schemes, as well as closing plans to future accrual.According to the PricewaterhouseCoopers Pensions Survey 2008, more than a third (35%) of employer respondents are looking at the option to buyout some or all of their pension ...
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TUC calls for review of pension buyouts
Trade Union Congress (TUC) has called for a full review of of pensions buyout models in order to anticipate any future threats to members' interests.During a pensions buyout a finance company takes over a pension scheme from a sponsoring employer.TUC welcomes additional powers proposed for The Pensions Regulator, which it ...
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Councils to pilot total reward statements
Buckinghamshire County Council, Cambridgeshire County Council and Hertfordshire County Council are to launch online total reward statements to pilot groups of employees.The councils, which have joined forces to enable them to spread the cost, and share the risks and outcomes, will roll the first statements out to employees in September. ...
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Ministry of Defence to switch occupational health providers
The Ministry of Defence (MoD) is to change its occupational health provider.On 1 September 2008, Atos Healthcare will replace Capita Health Solutions as provider of the MoD’s occupational health scheme. It will initially supply the service for five years, with the option to then extend the contract for a further ...
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BAA implements pensions scheme governance software
BAA has implemented software to raise standards of pension scheme governance.BAA the eShare 2008 platform to streamline its current management processes and increase transparency to the trustee board.This will include technology to simplify collation, distribution and maintenance of meeting information which will save trustees time and paper.Alistair Knowles, BAA secretary ...
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Vodafone extends NVQ programme for retail staff
Vodafone UK has expanded its staff development programme to allow of its 2,200 retail staff to follow a NVQ accredited development scheme enabling them to progress from trainee adviser through to regional manager.The firm launched the scheme to 1,225 retail staff in November 2007 and has now expanded the scheme ...
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Northamptonshire Police outsources pensions admin
Northamptonshire Police has signed a deal to outsource the administration of its pension scheme for its 2,000-strong workforce, from October.Xafinity Paymaster will provide the administration and will work closely with Northamptonshire Police and respond to its pensions requirements as well as developing the service. It won the business following a ...
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Pensions Bill could mean unnecessary costs to workplace pensions
The National Association of Pension Funds (NAPF) has said that the Pensions Bill must change to avoid unnecessary costs to workplace pensions and to avoid undermining retirement savings for low earners.According to the NAPF, the government will risk undermining both retirement savings for lower earners and leaving each pension scheme ...
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Personal accounts contribution limit needs clarification
The Association of British Insurers (ABI) and the Investment Management Association (IMA) have written to pensions minister James Purnell to ask for clarification on the limit that employers and employees can contribute annually into personal accounts from 2012.James Purnell said at the ABI chairman's dinner on 4 June that the ...