All articles by Debbie Lovewell-Tuck – Page 48
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Benefits research 2012: Responsibility and branding
The person responsible for benefits decisions within organisations has changed little over the years. A continuing trend has been the rise in status for compensation, benefits and reward professionals, with these areas increasingly being recognised as an HR specialism. This can be seen in the responsibility given to compensation and ...
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Benefits research 2012: Strategy
Over the past eight years, the benefits market has undergone much development, with many employers now offering vastly different packages from nearly a decade ago. Yet many of the issues and challenges shaping employers' benefits packages remain similar to those experienced back in 2004, when we first carried out research ...
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Benefits research 2012: Key findings
The aim of this study was to identify which benefits UK employers offer to their staff and how these are delivered.We also wanted to find out the impact of these benefits strategies, along with the key issues and challenges that are shaping them, such as the continuing difficult economic climate ...
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EXCLUSIVE: EB Summit: Call for care on default funds
One-third (36%) of delegates at the Employee Benefits Pensions and Workplace Savings Summit 2012 have an active duty of care over the investment funds/strategy in the default fund(s) offered to staff.A similar number leave this to their adviser or provider, while 15% said a member/staff committee is responsible.In a panel ...
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Budget 2012: Delay to auto-enrolment staging dates to save government £380 million
The delay to auto-enrolment staging dates for employers with fewer than 50 employees is forecast to save the government £380 million in reduced tax relief on pension contributions by 2017.According to figures contained in the 2012 Budget report documentation, delaying the staging dates for this group until the next Parliament ...
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Budget 2012: 50p tax rate to be reduced to 45p
The top 50p rate of income tax is to be reduced to 45p from April 2013.In the Budget report 2012, Chancellor George Osborne said the 50p rate, which is levied on taxable income above £150,000 a year, has damaged Britain’s competitiveness.Sean Drury, tax partner at PricewaterhouseCoopers (PWC), said the move ...
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EB Summit: All DC pensions deserve same attention
Employers should treat trust- and contract-based defined contribution (DC) pension schemes with the same care and attention.Speaking at the Employee Benefits Pensions and Workplace Savings Summit 2012 on 8 March, a well-known pensions manager said this is important because the average person will often be unable to distinguish between the ...
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EXCLUSIVE: Carlsberg focuses health and wellbeing initiatives
Carlsberg is introducing a number of health and wellbeing initiatives to address issues it has identified among its workforce.These include walking and running routes around its sites. The brewer has also agreed a healthy-eating programme, including promotions on key healthy foods; developed a functional nutrition wheel with provider Cigna to ...
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US pension deficits widen for second year
The aggregate deficit of pension schemes sponsored by S&P 1,500 companies in the United States increased by $169 billion during 2011 to reach $484 billion, according to research by Mercer.This deficit corresponds to an aggregate funded ratio of 75% as of 31 December 2011, compared to a funded ratio of ...
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Work-life balance biggest health issue for UK employers
Maintaining a good work-life balance for employees is the top health issue for employers, according to research by industry body Group Risk Development (Grid).Just over a fifth (21%) of respondents to its Group risk employer survey said this was the case, while 19% ranked stress and mental health issues as ...
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Towers Watson launches new talent reward website
Towers Watson has launched a new talent reward website, aimed at enabling employers to deliver comprehensive talent management and reward programmes.The TalentReward website was built based on feedback from more than 300 of the consultancy's clients, as well as its talent and reward consultants.Some of its features include:Career development: The ...
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Woolworths Group Pension Scheme transfers to Pension Protection Fund
The Woolworths Group Pension Scheme is ready to be transferred to the Pension Protection Fund (PPF), three years after the retailer became insolvent.The scheme had more than 10,000 members and a number of legally separate employers, all of which had separate responsibilities for different tranches of members. All also become ...
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Companies set to report widening pension deficits
Companies preparing their accounts for corporate years ending 31 December could be set to report widening pension deficits, according to consultancy Towers Watson.It estimates that, since the end of 2010, aggregate pension deficits in FTSE 100 companies' accounts have grown from £40.9 billion to £48 billion.John Ball, head of UK ...
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International reward: Global viewpoint needs local focus
Caroline Jowett-Ive, group vice-president reward at Travelport, tells Debbie Lovewell about the diverse challenges of providing cost-effective international benefitsManaging benefits internationally can be a challenging task, particularly in the current economic climate where organisations have to balance the need to control costs with the growing globalisation of business.Not surprisingly, cost ...
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Autumn Statement 2011: Government looks to overhaul red tape on employment issues
The government is to look into overhauling red tape around several employment issues.In the Autumn Statement 2011, Chancellor George Osborne announced that it is to look at whether, and how, a rapid resolution scheme could be introduced as an alternative to the current employment tribunal process to provide quicker, cheaper ...
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Interview with Ethan Kelly-Wilson, group head of HR operations at the Institution of Civil Engineers
Ethan Kelly-Wilson, group head of HR operations at the Institution of Civil Engineers, says a quest for personal development drives him to meet the challenges of his roleFor Ethan Kelly-Wilson, group head of HR operations at the Institution of Civil Engineers (ICE), career progression is not dictated by job title, ...
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Autumn Statement 2011: Fuel duty increases revised
The government has announced that the 3.02 pence per litre (ppl) fuel duty increase that was due to take effect on 1 January 2012 will be deferred to 1 April 2012.The inflation increase, which was planned for 1 August 2012 and was expected to be in the region of 1.92ppl, ...
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Employee Benefits/Lorica Employee Benefits defined benefit pensions research 2011
Download a PDF of the Employee Benefits/Lorica Employee Benefits DB pensions research 2011About two-thirds (65%) of respondents operate a defined benefit (DB) pension scheme, with final salary plans the most popular type. Most respondents’ DB plans are closed to new members or to future accrual. Larger employers are more likely ...
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Employee Benefits Live: BP engages generation Y
The adoption of new technology by generation Y has led many employers, including BP, to update their benefits and hiring programmes, primarily by moving these online.Key traits exhibited by generation Y include: flexibility, a willingness to relocate, a strong desire to achieve, pushiness and ambition.Speaking in a session titled ‘Are ...
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Employee Benefits Live: Top strategies for controlling pension costs
Opting for full systems automation, not having too many investment managers and looking carefully at legal costs are the top three strategies for controlling pensions costs, according to Penny Green, chief executive of Saul Trustee Company and managing director of STC Pensions Management.Speaking in the same panel debate on effective ...