All articles by Ian Silvera – Page 15
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Employee ownership scheme passed in House of Commons
Members of Parliament have voted in favor of the government’s proposed employee ownership scheme.The policy, which is part of the Coalition government’s Growth and Infrastructure Bill, passed in the House of Commons with 277 votes in favour and 239 against.This comes after the proposal, dubbed ‘shares for rights’ by Chancellor ...
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Directors' remuneration legislation updated
The government has amended the Department for Business Innovation and Skills’ (BIS) draft legislation requiring listed, but not AIM, organisations to hold binding shareholder votes on directors’ pay. The new draft also provides for a further, but non-binding, shareholder vote on the implementation of pay policy and enhanced remuneration disclosure ...
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Mercer adds to executive remuneration team
Mercer has appointed Patricia Bradley reward consultant as part of its drive to expand its executive remuneration business in the UK and Europe.Bradley was previously a corporate governance analyst at Pensions and Investment Research Consultants (PIRC), where she advised institutional investors on the performance of FTSE 100 and FTSE 250 ...
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Unison wins pay case for fire and rescue staff
Trade union Unison has won a legal case in the Court of Appeal for pay which could affect around 800 employees of the London Fire and Emergency Planning Authority (LFEPA). The union challenged the LFEPA’s decision not to honour the third year of an agreed pay deal that would have ...
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Sheep could take our jobs
Something for the weekend…Take that woolly jumper off and hide your lamb chop lunch because your next colleague could be a sheep.Paris City Hall has installed a small flock of sheep to mow the lawn at the capital’s gardens, instead of noisy and intrusive lawnmowers.The employee ewes, who hail from ...
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DWP publishes guidance on fit notes
The Department for Work and Pensions (DWP) has published a guidance document on the government’s fit note system.Getting the most out of the fit note: guidance for employers and line managers explains what employers should do if they are given a fit note by an employee, what different sections of ...
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Defined benefit pension deficits rise by £35 billion
The aggregate deficit of defined benefit (DB) pension schemes increased by £35 billion in one month, according to research by the Pension Protection Fund (PPF).The PPF 7800 index estimated that the aggregate deficit of the 6,316 pension schemes in the PPF 7800, which are potentially liable for entry to the ...
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Barclays C&ES develops investment consulting team
Barclays Corporate and Employer Solutions (C&ES) has made two appointments to develop its new pension investment consulting team.Lydia Fearn (pictured) joins Barclays C&ES from consultancy Lane Clark and Peacock, where she advised employers on their investment strategies for both defined benefit (DB) and defined contribution (DC) pension plans for six ...
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Young employees plan to save more for retirement
Young employees are more engaged with pensions than older colleagues and plan to save more, according to research by the National Association of Pension Funds (NAPF).The NAPF workplace pensions survey, which had 2,050 respondents, found that more than half (53%) of those aged 25 to 34 intend to increase the ...
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Stormfront launches computer scheme
Stormfront, the Apple reseller, has launched a computer scheme for employers to offer staff.The scheme, which is available via a salary sacrifice arrangement, offers access to Apple reseller’s range of products, including Mac computers, iPads and iPods. Stormfront will create a bespoke branded website fo employers.Employees can also access Stormfront’s ...
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Round-up of tax and legislation changes coming in from 6 April
A number of tax and legislation changes that come into effect from 6 April 2013 will have an impact on employee benefits.Real-time information (RTI) reporting begins.From 6 April, employers will have to start reporting pay-as-you-earn (PAYE) information to HM Revenue and Customs (HMRC) in real time. Employers with fewer than ...
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Is this the best office in the world?
Something for the weekend …A ‘helter-skelter’ slide, a grass-covered amphitheater, a yoga area, a pool table, a putting green, a giant swing and a cinema …Is this the best office in the world?Designers Space and Solutions have transformed a former pub in Southampton into office space for technology organisation Peer ...
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Computershare Voucher Services launches voluntary benefits
Computershare Voucher Services (CVS) has partnered Salary Exchange to offer supplementary voluntary benefits to its employer clients.Computershare Salary Extras was created in response to employers repeatedly asking CVS for extra benefits to support their employees.The new benefits are designed to be available via salary sacrifice arrangements.From 1 March 2013, the ...
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Pimlico Plumbers decorates fleet with Thatcher
Something for the weekend…Cards and flowers are usually used to show affection for a recently deceased loved one, but Pimlico Plumbers’ 200-strong fleet carried an image of Baroness Margaret Thatcher as a mark of respect on the day of the former prime minister’s funeral.The plumbing organisation was founded by patriotic ...
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HMRC confirms VAT payable on contract-based pensions
Consultants that advise and assist employers with the setting up and administration of contract-based defined contribution (DC) pension schemes, including group personal pension (GPP) plans, stakeholder schemes and group self-invested personal pensions, must charge standard-rate value-added tax (VAT) to employers on services provided to them in return for consultancy charges ...
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Close Brothers launches default pension investment funds with Scottish Widows
Financial services provider Close Brothers Asset Management (CBAM) has launched a range of default investment funds in partnership with Scottish Widows. The SW Close Governed Portfolio Funds range builds on CBAM’s existing corporate pension products, with the aim of making workplace pension investing as simple and as affordable as possible.All ...
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Defined benefit pension schemes reduce exposure to equities
Defined benefit (DB) pension schemes are relying less on equities for generating growth, according to research by Aon Hewitt.The UK findings of the consultancy’s Global pension risk survey 2013, which questioned more than 240 DB pension schemes representing around £300 billion in assets, showed that 41% of respondents expect to ...
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Nest to launch auto-enrolment guidance site
The National Employment Savings Trust (Nest) is to launch an auto-enrolment website giving guidance for employers and advisers on 6 May 2013.The online help centre will include:Information on employer duties, including employer guides.Guidance to help with employer preparation and online set-up of a Nest pension.Information about the key tasks of ...
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Stansted Airport staff given new pensions
Manchester Airports Group (MAG) has launched two new pension schemes for the 1,200 London Stansted airport employees who became part of the organisation following an acquisition in February 2013.The arrangements, a defined benefit (DB) pension scheme and a trust-based defined contribution (DC) pension plan, have been designed to replicate the ...
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Legal and General adds face-to-face counselling to GIP
Legal and General has added free face-to-face counselling sessions to its group income protection (GIP) product.Employees covered by a Legal and General GIP policy can have up to five face-to-face counselling sessions if needed.The sessions are offered as part of Legal and General’s enhanced employee assistance programme (EAP), which is ...