All articles by Jennifer Paterson – Page 101
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More public sector staff in pension schemes than private sector
A higher proportion (82%) of employees in the public sector belonged to a workplace pension scheme than their private sector counterparts (32%) in 2008/10, according to figures from the Office of National Statistics (ONS).Its Wealth and assets survey found that the median value of current workplace pension wealth of employees ...
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Iceland Foods and The Perfume Shop recognised for employee engagement
Iceland Foods and The Perfume Shop have been recognised for their focus on employee engagement. The retailers were presented with employee engagement awards at ORC International’s annual employee engagement conference.Both employers insist on the importance of both listening to employees and acting on feedback, and making it clear how staff ...
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Two-thirds of respondents see no link between pay and performance
Two-thirds (66%) of respondents cannot see a clear link between performance and pay at their organisation, according to research by Towers Watson.Its Global workforce study, which surveyed 32,000 employees across 29 countries including 2,628 UK employees, examined how the work environment is changing in response to shifts in business operations, ...
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Half of female respondents save less than £100 a month into a pension
Nearly half (48%) of women save less than £100 per month into a pension, according to research by YouGov.The research, which surveyed 2,014 UK adults, found that this saving is around one-fifth of the amount men invest in a pension scheme.The research also found:58% of women admitted to finding pensions ...
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10% of respondents to offer flexible working during Olympics
Only one in 10 respondents said their employer is allowing flexible working to attend the London 2012 Olympic and Paralympic Games, according to research by the Chartered Institute of Payroll Professionals (CIPP).The research, How will the Olympics affect businesses, found that 10% of respondents said their employer is permitting staff ...
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EXCLUSIVE: Republic sees 40% take-up in employee discounts scheme
Fashion retailer Republic has seen a 40% take-up in its employee discounts scheme over the past six months.Its Backstage Pass scheme, which was introduced at the end of 2011 and is provided by Asperity Employee Benefits, is aligned with the firm's recognition scheme, Recognition Rocks.Packs were handed out to employees ...
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64% of respondents do not offer retirement support to staff
Almost two-thirds (64%) of employers do not offer tailored retirement support to employees, according to research by Aviva.Its Real retirement report, which surveyed 13,610 UK employees aged over 55, found that, among those 36% who did receive support, 70% found it useful.Nearly a quarter (23%) said it played an important ...
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Specsavers launches sight check application
Specsavers Corporate Eyecare has launched an application (app) called Sight Check, which is designed to help employees engage with their eye health.The app, which is free to download, includes a series of tests. If the employee requires a full eye examination at the end of the test, they †can book ...
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National Audit Office publishes report on the regulation of DC pension schemes
The National Audit office has published a report on the regulation of defined contribution (DC) pension schemes, which has concluded that there is insufficient accountability to ensure that the regulatory system delivers value for money.The report:Highlights the taxpayer’s substantial interest in the effectiveness of pension regulation. The trend towards DC ...
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Southern Railway staff accept Olympic bonus
Southern Railway employees have voted to accept a recognition and reward deal, which will see staff receive a basic bonus payment of £300 during the Olympics.The total reward package, which includes an additional £28 per day available for rest day and Sunday working and £50 for additional late night turns, ...
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Administration is key auto-enrolment concern
A majority (92%) of employers said the administration of auto-enrolment is a key concern in relation to the incoming pension duties, according to research by Staffcare.The research, which surveyed both employers and advisers, found that 70% of advisers plan to use a specialist external system to handle the ongoing administration ...
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Aon Minet enters into pension insurance buy-in
Insurance brokers Aon Minet has entered into a pension insurance buy-in agreement with the Pension Insurance Corporation (PIC).The £100-million transaction covers around 25% of its pensioners’ liabilities.Robert Dickinson, chairman of the trustees at Aon Minet, said: “This buy-in agreement with PIC is very important to us as we move to ...
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Land Securities proposes to clawback executive pay structure
Land Securities has proposed to withdraw its discretionary and additional bonuses after a full review of its executive remuneration policy.The commercial property group, which announced the proposals in its 2012 annual report, undertook the review with independent advisers New Bridge Street.The firm’s current policy for discretionary bonuses is up to ...
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Edenred acquires Japanese and Brazilian voucher providers
Edenred has acquired two voucher providers, growing into Japan and expanding its position in Brazil.The employee benefits provider has acquired Barclay Vouchers, a Japanese meal voucher provider, and Comprocard, a Brazilian food voucher provider.Barclay Vouchers works with more than 600 employers. Laurent Pellet, chief operating officer for Edenred Asia-Pacific, said: ...
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Carey Pensions launches master trust pension scheme
Carey Pensions has launched a master trust defined contribution (DC) pension scheme ahead of auto-enrolment.The pension provider, which already offers a master trust self-invested pension plan (Sipp) administers pensions for more than 10,000 members.Read also The appeal of master trust pension schemesRead more articles on master trust pension schemes
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The Takeover Panel publishes proposals to protect pensions during acqusitions
The Takeover Panel has published a consultation on proposed changes to the Takeover Code, which would compel organisations that launch a takeover bid to disclose their plans for the target organisation’s pension scheme.The proposals would ensure that the provision of the Takeover Code, which relate to the employees of the ...
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Quorum Business Park awarded for sustainable travel benefits
Quorum Business Park has been recognised at the Business in the Community’s (BITC) Awards for Excellence in the Ways2Work category, for its promotion of better ways of working and better ways of traveling to work.The Newcastle-based business park, which includes organisations such as Balfour Beatty, Convergys, HM Revenue and Customs, ...
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FTSE 350 DB pension deficit increased in June
The accounting deficit of defined benefit (DB) pension schemes in the UK increased marginally over the month of June, according to research by consultancy Mercer.Its Pensions risk survey found that the estimated aggregate IAS 19 pension deficit for the DB schemes of FTSE 350 companies stood at £73 billion at ...
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National Union of Mineworkers de-risks pension scheme with buy-in
The National Union of Mineworkers’ (NUM) has entered into a pension insurance buy-in to manage the risk of its defined benefit (DB) pension scheme.The transaction, which will secure pensioner liabilities and reduce risk for the scheme, was advised by trustee Barnett Waddingham and conducted by Metlife Assurance.The NUM scheme’s investment ...
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UK rises in European earnings league table
The UK has risen from 18th to 14th place in the European earnings league table over the last year, according to research by the Federation of European Employers (Fedee).Its latest review of pay, Pay in Europe 2012, which covers 47 European countries and territories, found that the median gross hourly ...