All articles by Debbie Lovewell-Tuck – Page 55
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Article
Personal accounts rebranded as National Employment Savings Trust
The Personal Accounts Delivery Authority (Pada) has announced that National Employment Savings Trust (Nest) will be the new permanent name for the personal accounts scheme, due to come into effect from 2012 under workplace pensions reforms.Nest will be run by a not-for-profit trustee body, the Nest Corporation.Pada developed the new ...
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Employers use flexible benefits to reduce costs
Nearly one in four employers has reduced their benefit costs by introducing a flexible benefits scheme, according to a survey of UK employers by consultancy Mercer.A total of 55% of respondents believed setting up a flexible benefits scheme would actually increase their costs. Yet 39% of those with flex schemes ...
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Royal Mail forecasts £10bn pensions deficit
Royal Mail Group is expected to reveal a £10 billion deficit for its defined benefit (DB) pension fund.Adam Crozier, Royal Mail chief executive, said the pension fund deficit was currently being revalued, but the historic deficit was expected to reach at least £10 billion, compared with £3.4bn in the last ...
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Debbie Lovewell, deputy editor of Employee Benefits: Challenging year must strengthen our resolve
The past 12 months have certainly been an eventful time in the benefits world. Economic turmoil, legislative changes and the continuing need to cut costs have all posed significant challenges for employers.To mark the end of such a testing year, this month’s cover story takes a look back at the ...
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Special report 2009: Tender process requires careful preparation
A benefits tender process calls for careful planning and a clear focus on the criteria for choosing a supplier that best suits an employer's needs, says Debbie LovewellMaking any large purchase can be a daunting experience, especially in these recession-hit times. Few of us would spend a lot of money ...
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FirstCare teams up with Xchanging
Absence management provider FirstCare has teamed up with global business processing firm Xchanging to offer enhanced absence management services.As a result of the alliance, employers using FirstCare's services will be able to access a wide range of Xchanging's HR solutions. Meanwhile, Firstcare's absence management and pre-employment health screening services will ...
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HMRC announces revised advisory fuel rates
HM Revenue and Customs (HMRC) has revised advisory fuel rates for all journeys on or after 1 December.For the first time, the revised rates will take effect immediately after the month's notice previously given for the change was withdrawn. Employers making or collecting payments at the superseded rate because they ...
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FTSE 100 pension deficit doubles
The FTSE 100's defined benefit (DB) pension deficits reached £72bn at the end of November, double that of the beginning of the year when the figure stood at £36bn.According to consultancy Towers Perrin, the deficit is continuing to grow despite recently improving asset values, with equity market gains being swallowed ...
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Cigna launches oral health risk assessments
Cigna has launched online interactive oral health risk assessments.By answering questions on issues such as age, their oral health routine and dental history, employees will receive a result judging how at risk they are of dental cavities or gum disease.The results are designed for individuals to use and employees are ...
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National Stress Awareness Day highlights issue
On National Stress Awareness Day, employers have been warned that they could be doing more to tackle employee stress levels and lessen their effect on workplace productivity.According to the Chartered Institute of Personnel and Development's (CIPD) Employee Outlook Survey, conducted by YouGov, more than 90% of employees suffering from poor ...
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Benefits Managers Salary Survey 2009
Significant salary differences still exist between the sexes in benefits roles, says Debbie LovewellEmployee Benefits surveyed 621 people responsible for managing benefits in UK organisations for its Employee Benefits Salary Survey 2009.†Almost 60% were from firms with more than 1,000 staff and 83% were from the private sector.Reward managers highly ...
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Interview with Claire Sykes, director of compensation and benefits at Molson Coors Brewing Company
Claire Sykes, director of compensation and benefits at Molson Coors Brewing Company, says good teamwork is essential to meet the challenges of delivering reward in a global firmIf anyone wanted proof that HR does not deserve its light and fluffy reputation, they need look no further than compensation and benefits. ...
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Volkswagen, Daily Mail and RNLI awarded pension quality mark
Volkswagen Group, the Royal National Lifeboat Institution (RNLI), International Power, the Wood Group and the Daily Mail and General Trust are the latest employers to be awarded Pension Quality Marks by the National Association of Pension Funds (NAPF).The awards, which were made at this year’s NAPF conference, are intended to ...
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Employer pension contributions vary by sector
Financial services employers are the most generous when it comes to contributing to employees’ defined contribution (DC) pension pot, while those in the leisure/travel industry are the least generous, according to research by Aon Consulting.The 2009 Aon Benefits and Trends Survey, which polled 650 organisations across 13 sectors in the ...
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Aer Lingus proposes pay cuts and pension changes
Aer Lingus has outlined proposals to cut employees' pay for those earning above €35,000 per year and introduce a new defined contribution pension scheme for the future service of all employees as part of a 'transformation plan' designed to significantly cut costs.The first stage of the plan is aimed at ...
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Few private sector employees see pensions as best retirement option
Fewer than half of private sector employees regard pensions as the best way to save for retirement, despite employers' attitudes that pension provision is a core part of their reward package.According to research carried out by the Chartered Institute of Personnel and Development (CIPD) and BlackRock, only 28% of private ...
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Co-operative Group appoints Mercer to advise on pension investments
The Co-operative Group has appointed Mercer to provide consulting services for the alternative investments in its defined benefit career average earnings pension fund.These will be phased in over two years to represent 13% of the total fund.Mike Thorpe, pension finance and risk controller at the Co-operative Group, said: "Given the ...
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Beaverbrooks, Whitbread and Aviva awarded for payroll giving excellence
Leading employers, including Beaverbrooks, Whitbread and Aviva, have been recognised for their payroll giving schemes at this year’s Payroll Giving Excellence Awards.At the third annual event, held at HM Treasury on 5 October, jewellery retailer Beaverbrooks won the award for Best launch of a new scheme, as well as the ...
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LeasePlan implements new benefits portal for staff
LeasePlan has implemented a new benefits portal for its UK employees.The vehicle management and leasing provider introduced the cube3 portal, provided by Lorica Online, as the next stage of its UK employee reward strategy.Sarah Mengham, HR service development manager at LeasePlan, said: "Our people are our most valued asset and ...
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Analysis
Offering private medical insurance through a healthcare trust
Switching private medical insurance cover to a healthcare trust can save money for large organisations, says Debbie LovewellIf you read nothing else, read this…Healthcare trusts are most suited to larger organisations that provide private medical insurance to a number of employees.Trusts are typically set up as a subsidiary of an ...