All Financial wellbeing articles – Page 92
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Case StudiesAddison Lee to launch new values as part of wider benefits roadmap
Transportation service Addison Lee is launching five organisational values in February 2019, as part of a wider strategy to reinvigorate benefits and reward for its 1,600 global employees.The new values have been decided by the leadership team and are going to be introduced to help shape the organisation’s culture, as ...
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ArticleUnite members accept revised pay offer from Offshore Contractors Association
The trade union Unite has announced that its 25,000 members covered by the Offshore Contractors Association (OCA) have accepted a revised pay offer, following recommendations by the union and its OCA shop stewards.The OCA represents contractor organisations involved in a range of activities in the UK’s offshore oil and gas ...
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Supplier articleThe building blocks of an effective financial wellbeing strategy
Nearly half (46%) of all UK adults rate their own knowledge about financial matters as low and almost a quarter (24%) have little or no confidence in managing their money. The impact of this is clearly being felt in the workplace with research finding that employers believe that financial worries ...
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ArticleMeadow Foods employees set for four-day strike over 2% pay offer
Employees at dairy-based ingredient supplier Meadow Foods' factory in Holme-on-Spalding-Moor are set to strike for four days over a 2% pay offer for the year starting July 2018.Staff at the East Yorkshire chocolate crumb manufacturer are due to walk at 6pm on 12 January until 6pm on 15 January, affecting ...
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ArticleEXCLUSIVE: 57% of employers support staff at retirement using online modelling tools
EXCLUSIVE: When it comes to methods of providing at-retirement support, financial education and awareness campaigns have seen huge leaps in popularity since 2017, according to research by Employee Benefits and Barnett Waddingham.The Employee Benefits/Barnett Waddingham pensions research 2018, which canvassed the views of 246 respondents and was published in December ...
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ArticleBradford-based accounts manager admits workplace pension offences
Bradford-based accounts manager Mansoor Nasir will be sentenced for workplace pension offences after pleading guilty to nine charges of knowingly or recklessly providing The Pensions Regulator (TPR) with information that was false or misleading.The offences, under section 80 of the Pensions Act 2004, involved workers at the Akbar chain of ...
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ArticlePolice staff in England and Wales vote in favour of 2% pay deal
Following a consultation that took place in December 2018, police staff in England and Wales belonging to the unions GMB, Unison and Unite have voted to accept a pay offer that includes a 2% pay rise.The pay deal will now be implemented by forces in the two countries, and will ...
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ArticleCIMB offers six months' paid maternity leave for first-time mothers
Kuala Lumpur-based banking organisation CIMB has announced that it will now be offering six months' paid maternity leave for its employees in Malaysia who become first-time mothers.Eligible staff members will be able to take up the benefit from 30 days prior to their estimated due date. CIMB also provides employees ...
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ArticleHSBC gender pay gap increased to 61% in 2018
The gender pay gap at banking organisation HSBC has grown from 59% in 2017 to 61% in 2018, according to its latest update.The 2017 figure already marked HSBC out as the employer with the largest disparity between male and female employees' pay among UK banks.The latest report means that female ...
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ArticlePension cold calling to result in enforcement action and £500,000 fine
Organisations making unwanted, unsolicited phone calls to individuals regarding their pensions could face enforcement action, including fines of up to £500,000, under legislation that comes into force today (9 January 2019).Research conducted by the Money Advice Service in October 2015 found that there might be as many as 250 million ...
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ArticleEXCLUSIVE: Three launches online financial education for 4,600 staff
EXCLUSIVE: Telecommunications organisation Three has launched an online financial education programme for its 4,600 UK-based employees in order to enhance its wider wellbeing strategy.The new financial education initiative, provided by Nudge, was implemented on 30 November 2018 for employees based at Three's head offices in Maidenhead, Glasgow and Reading, as ...
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ArticleEXCLUSIVE: Two-fifths expect internal HR teams to provide at-retirement support
EXCLUSIVE: The largest proportion of employers (40%) place the responsibility for providing at-retirement support at their HR, benefits, reward and learning and development teams, according to research by Employee Benefits and Barnett Waddingham.However, the Employee Benefits/Barnett Waddingham pensions research 2018, which gathered 246 responses and was published in December 2018, ...
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ArticleTennessee restaurant operators ordered to pay $220,000 in back wages and damages
The operators of Nashville, Tennessee-based restaurant Woodlands Indian Vegetarian Cuisine have been ordered to pay $220,000 (£173,557) in back wages and liquidated damages to 31 employees.The action follows an investigation by the US Department of Labor's Wage and Hour Division (WHD), which uncovered violations of the minimum wage, overtime and ...
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ArticleLetitia Wright named 2018’s biggest box-office draw but absent from list of best-paid actors
Something for the weekend: Actor Letitia Wright has been named by movie ticket website Fandango as the highest box-office earning star of 2018, but she does not feature on the top ten list of best-paid actors.Wright has featured in a string of hit movies, including Black Panther, Avengers: Infinity War, ...
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ArticleArriva Durham County bus drivers set to strike after rejecting pay offer
Around 650 bus drivers working for Arriva Durham County have voted to strike for a week from 6 January after rejecting a revised pay offer.The drivers, members of the Unite union based at Darlington, Durham, Redcar, Stockton and Whitby, voted by 72% to 28% to reject the proposal, which was ...
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ArticleMen earn nearly twice as much as women in bonus pay
The average bonus for a full-time worker in the UK was £2,242 in 2018, according to analysis of figures from the Office for National Statistics by recruitment organisation Aaron Wallis, but the average for males at £2,613 was nearly twice that for females at £1,158.The research also found that full-time ...
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ArticleMissouri state minimum wage rate rises to $8.60
The Missouri Department of Labor has announced a state minimum wage rate of $8.60 (£6.77) per hour for 2019, rising from $7.85 (£6.18) in 2018.Effective from 1 January 2019, all private employers are required to pay the minimum rate, with the exception of retail and service organisations with annual sales ...
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Case StudiesDAC Beachcroft uses financial education to encourage active investment choices
DAC Beachcroft, which has 2,230 UK-based employees, held a pensions roadshow at its Bristol office in September 2018, in conjunction with Scottish Widows. This enabled employees to book one-to-one consultations and attend a presentation on fund performance and available investment plans.Sarah Young, head of reward at DAC Beachcroft, says: “People ...
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AnalysisHow to encourage active decision-making surrounding pension investments
Need to know: Employees can self-select their pension fund, rather than remaining invested in the default option; this can help staff better tailor investments to their personal circumstances.Financial education around available pension fund options can help employees make informed, active investment decisions.Communications should be clear, simple and feature a mix ...
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ArticleAIG Life completes acquisition of insurance provider Ellipse
Insurance organisation AIG Life has completed the acquisition of Ellipse, a specialist group life, critical illness and income protection provider in the UK, following the receipt of required regulatory approval.The terms of the purchase, from German reinsurance organisation Munich Re, have not been disclosed.AIG Life now intends to distribute both ...