All articles by Jennifer Paterson – Page 146
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The Pensions Regulator to advise employers on pension reform duties
The Pensions Regulator (TPR) is writing to the UK’s largest organisations, alerting them to their new pension duties that will begin in 18 months.The staged auto-enrolment and compulsory contribution dates begin in October 2012 for organisations with more than 250 employees. TPR is providing a five-point checklist alongside the notification ...
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Cyclescheme launches new website for employers and employees
Cyclescheme has launched a new website aimed at employers which operate, and employees who participate in, bikes-for-work schemes.For participants, Cyclescheme has created a community section where users can access vital cycling information, news and reviews as well as being able to engage with their colleagues. Employees can forecast their mileage, ...
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BT pension scheme recovery plan put on hold by The Pensions Regulator
A review of the BT pension scheme’s (BTPS) funding valuation and recovery plan has been put on hold by The Pensions Regulator (TPR).At 31 March 2011 the pension scheme’s deficit was £1.4 billion compared with a deficit of £5.7 billion at 31 March 2010.The market value of the BT pension ...
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British Airways reaches deal in 18-month cabin crew dispute
British Airways and union Unite have reached an agreement to resolve the 18-month cabin crew dispute.The agreement, which will see the restoration of generous travel concessions and a two-year pay deal which will see wages rise by 4% this year and 3.5% in 2012, will be put to a ballot ...
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Network Rail staff receive 10% pay rise to prevent strikes during the Olympics
Network Rail staff have been handed a 10% pay rise to prevent strikes during next year’s Olympics.The deal gives employees with special duties during the Olympics additional pay of £3.50 per hour. This applies to about 800 staff and worth about £500 over the period.Also part of the agreement is ...
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Government to consult on employment law reforms
The government has announced new areas that it will consider reforming as part of its review of employment red tape. This includes reforming: compensation for discrimination awarded by employment tribunals; collective redundancy consultation periods; and the transfer undertakings protection of employment regulations (Tupe).Edward Davey, employment relations minister, detailed the plans ...
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H2 Bike Run launches fitness club aimed at London commuters
A private members club called H2 Bike Run has opened its doors. Targeted at London commuters who run, cycle or walk to work, it can be included in an organisation’s health and wellbeing offering to its staff.The core idea behind H2 is to find a solution for commuters who care ...
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National Express agrees recovery plan for UK DB pension scheme
National Express UK Bus division has agreed a funding plan for the £68 million deficit of its defined benefit (DB) pension scheme.The West Midlands Pension scheme is a local government scheme that dates from when regional bus organisations were owned by local councils.†In 2008 it was agreed that National Express ...
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Screenetics launches wellness days for employers
Health screening provider, Screenetics has launched a service called Wellness Days to promote health and wellbeing in the workplace.Wellness Days are designed to connect employees with their health through a series of events and activities including: the Juice Bike, an exercise bike that creates fresh juice as the user cycles; ...
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Thomas Cook closes defined benefit (DB) scheme to future accrual
Thomas Cook has closed its defined benefit (DB) scheme to future accrual.The travel agent announced in its half-yearly report, which was published on 9 May, that it had reached an agreement with trustees to close the scheme as of 31 March 2011.From 1 April, members of the DB scheme have ...
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PMI Health Group research: Most employers are unaware of the effectiveness of workplace counselling
More than two-thirds of organisations are unaware of how effective counselling can be in treating work-related stress or depression, according to independent research commissioned by PMI Health Group.Most organisations (85%) surveyed said they would consider offering counselling to staff but 69% do not believe it can tackle stress-related absenteeism on ...
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IDS research: Basic salary for NHS chief executives rises by 4.5%
Median total earnings for NHS trust chief executives in England reached £158,800 last year, reveals the NHS Boardroom Pay report from Incomes Data Services (IDS).According to IDS, 12% of NHS non-medical chiefs earned more than £150,000 last year, while 69% of NHS medical directors earned more than £150,000 over the ...
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Public sector unions challenge government’s CPI switch
Public sector unions have launched a challenge against the government’s decision to adopt the lower consumer prices index (CPI) inflation index, rather than the customary retail prices index (RPI) inflation index, for the purposes of statutory pension increases.The government’s change has been imposed on public sector employees from 1 April ...
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Policy Exchange research: Public sector receive 43% more in pay and pensions than private sector
Public sector staff receive 43% more in pay and pensions than employees in the private sector, according to research from think-tank Policy Exchange.The research, Public and private sector terms, conditions and the issue of fairness, shows that despite the coalition government’s attempt at pay restraint, public sector salaries continued to ...
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Canada Life research: Most employees would move jobs for better benefits
More than half (52%) of employees would take a job at a new organisation if it offered better benefits, according to research from Canada Life Group Insurance.Of those who would move organisations for better benefits, 13% would do so because they value benefits highly, and 19% because of the prospect ...
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Aviva enhances international insurance products
Aviva has enhanced its international insurance products to include increases in the overall benefit limit, newborn lifetime cover limit and chronic conditions cover. The products are available for employers to offer to expatriate employees.The insurance provider has moved a number of benefits into its core cover from its additional cover ...
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Xafinity research: Pension liabilities climb to £1.5 trillion
Pension scheme liabilities have climbed to £1.5 trillion, according to the Xafinity Corporate UK Pension Scheme Model.Based on assumptions as at 30 April, higher asset values have tempered the increase a little, but the aggregate deficit has now reached £430 billion.Hugh Creasy, director at Xafinity Corporate Solutions, said: “The benign ...
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IDS research: Median pay award remains steady at 2.5%
The median pay award in the UK remained steady at 2.5% in the three months to March 2011, according to the latest IDS Pay Report by IDSPay.co.uk.Some 61% of all pay deals were recorded in a range between 2% and 3% inclusive, while 83% of settlements were at 2% or ...
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John Lewis adds smart links to paper total reward statements
The John Lewis Partnership has rolled out total reward statements incorporating a new form of technology for its 75,000 staff in John Lewis and Waitrose stores.The new paper-based total reward statements include quick-response codes. These two-dimensional codes can be scanned using a smart phone to take employees directly to relevant ...
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BlackRock adds to flexible benefits scheme
BlackRock Investment Management has added perks to its flexible benefits plan, switched providers and introduced quarterly enrolment for some benefits.New benefits include the ability to buy up to five days’ holiday a year, discounted gym membership, additional retail vouchers, and payroll giving, which BlackRock matches up to £275. The firm ...