All articles by Debbie Lovewell-Tuck – Page 46
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Article
Disclosure of pension charges essential
Full disclosure of pension charges is essential if scheme members are to gain value for money and subsequently refrain from opting out post-auto-enrolment, according to Gregg McClymont, shadow pensions minister.Although annual management charges (AMCs) are published, this is insufficient, he added. “AMCs may comprise less than a third of total ...
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Article
PPF levy could rise by 10%
The Pension Protection Fund (PPF) levy could rise by 10% for 2014/15 unless market conditions change.This is after the levy was held for 2013/14. Speaking at the National Association of Pension Funds’ annual conference, Alan Rubenstein, chief executive of the PPF, said that an increase in levies is necessary if ...
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Debbie Lovewell: Work-life balance is business benefit
Forward-thinking employers have got wise to the fact that flexibility around working hours and location for all staff (not simply parents and carers) can have many benefits for their business.In cases where this change in corporate culture still needs to occur, employers will have to set out a clear strategy ...
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Article
Whitbread removes investment choice
Whitbread removed investment choice from its trust-based defined contribution (DC) pension scheme because of concerns that employees’ lack of understanding was putting them off pensions altogether.Speaking at the National Association of Pension Funds’ conference, Lesley Williams, group pensions director at Whitbread, said: “As trustees, we realised we were being unrealistic ...
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Interview with Jim Cowan, head of benefits at Royal Bank of Scotland
The art of communication is a key ingredient for a successful career in reward and benefits. That is a lesson that has served Jim Cowan, head of benefits at the Royal Bank of Scotland (RBS) Group, well during a career that has spanned more than three decades with RBS, 20 ...
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Debbie Lovewell: Health and wellbeing disclosure
In a similar vein, many investors are now pushing organisations to disclose information on their approach to human capital management, including, for the first time, information on the health and wellbeing of their workforce.Investors’ interest in such disclosure was initially fuelled by a government report, Accounting for people, which was ...
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Case Studies
American Express plays employee engagement card
Case study: Benefits support lifestyle choices at American ExpressThe choice and flexibility available within American Express’ benefits package holds strong appeal for Carrie Brightwell, global learning and development manager at the credit card firm. “The key attraction for me is you can shape your benefits and tailor them to suit ...
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Debbie Lovewell: How much is too much?
Is it possible to offer too many benefits through a flex scheme? Some people will say there is no such thing as having too many perks, but if employees are to fully appreciate and value each one, it is vital they understand exactly what is on offer. This can be ...
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Employee Benefits/Premier Pensions and Workplace Savings Research 2012
Download the full report here.Key findingsAuto-enrolmentRetail Distribution ReviewSchemes on offerAttitudesWorkplace savingsInvestmentSponsor’s commentHear Debi O’ Donovan, editor of Employee Benefits, discuss the results of the research in a webinar, produced by PremierEditor’s commentWith just months to go before the UK’s largest employers must comply with the incoming auto-enrolment pension reforms, many ...
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Employee Benefits Pensions and Workplace Savings Research 2012: Attitudes
Many employers have a long history of taking responsibility for the long-term financial wellbeing of their staff . Twelve years ago, 68% of respondents to the Employee Benefits Pensions strategy research 2000 told us this was the case in their organisation. This figure has remained consistently high over the past ...
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Employee Benefits Pensions and Workplace Savings Research 2012: Auto-enrolment
After many years in the pipeline, the Pensions Act 2008 will finally begin to take effect from October this year. For some organisations, compliance is already a reality, with some having opted to bring their staging date forward to last month. The legislation will introduce compulsory minimum employer and employee ...
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Employee Benefit Pensions and Workplace Savings Research 2012: Key Findings
Our survey, which was carried out in June 2012 among readers of Employee Benefits magazine and users of www.employeebenefits.co.uk, received 206 responsesKEY FINDINGS85% will use their existing pension scheme for implementing the auto-enrolment reforms.75% know how much auto-enrolment will cost, with 32% saying it will increase costs by 1-9%.34% will ...
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Employee Benefits Summit: Fit notes 'do not work'
Over 80% of delegates at the summit said the new system of fit notes does not work in their organisation. Just 7% said this was a great help.Employers are dissatisfied with the system, said David Frost, co-chair of Health at work: an independent review of sickness absence, during a session ...
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Article
Employee Benefits Summit: Badly designed packages 'can cause excessive pay'
Badly designed bonus or reward packages are the most likely cause of 'excessive' executive pay, according to delegates at the Employee Benefits Summit 2012.Half of delegates said this was the case, while 43% said the war for talent was the most likely cause.Speaking in a session entitled 'Winning the high ...
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Employee Benefits Pensions and Workplace Savings Research 2012: Investment
Getting to grips with pensions and investments can be challenging for employees. With global stock markets and many economies in a state of flux, it is hardly surprising that so many pension scheme members select their plan’s default funds because they either do not want to make a decision about ...
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Employee Benefits Pensions and Workplace Savings Research 2012: Schemes on offer
The demise of defined benefit (DB) pension schemes and employers’ move to defined contribution (DC) plans has been well documented. This trend can be tracked through Employee Benefits’ pensions research over the last 12 years. In our Pensions strategy research 2000, for example, 39% of respondents offered a DB scheme ...
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Employee Benefits Pensions and Workplace Savings Research 2012: Retail Distribution Review
Under the Retail Distribution Review (RDR), which will come into effect on 31 December 2012, commission payments from contract-based defined contribution pension providers to benefits consultants and advisers will be banned. Instead, employers will have to pay a fee and/or commission to their consultant or adviser, agreeing upfront how much ...
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Employee Benefits Pensions and Workplace Savings Research 2012: Workplace Savings
When it comes to financial planning, few people look at a single savings vehicle in isolation. Taking a holistic view of their finances can be the most effective way for people to identify the best savings tools for their short-, medium- and long-term future.Employers now have a number of workplace ...
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ECJ ruling: Staff on annual leave entitled to extra time off if they become ill
The European Court of Justice (ECJ) has ruled that employees who become ill while on annual leave have the right to reclaim additional paid leave of the same duration at a later date, regardless of when their ill-health commenced.The ruling was prompted by a Spanish trade union case against a ...
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Employee Benefits Summit 2012: Long-term sickness absence is a management issue
Long-term sickness absence is not just a benefits issue, but also a management issue according to David Frost, co-chair of Health at work – an independent review of sickness absence, which he carried out with Dame Carol Black for the Department of Business, Innovation and Skills (BIS) and the Department ...