All articles by Jennifer Paterson – Page 156
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Article
BP launches new communications strategy for DC pension
BP has introduced a new communications strategy for the 3,000 members of its defined contribution (DC) pension scheme.The project, which was run in conjunction with Capita Hartshead, centred on the rationalisation of investment options for the DC scheme. Despite the quantity and complexity of the information communicated to members, the ...
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Article
HMRC launches pay-as-you-earn tool for employers
HM Revenue and Customs (HMRC) has launched a basic pay-as-you-earn (PAYE) tool to help employers run their payroll systems.The online resource replaces HMRC’s employer CD-Rom and includes all the CD-Rom’s interactive features plus an automatic update facility, to ensure the tools are up-to-date with the latest information and figures.Employers which ...
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Article
Shilling research: Majority of staff distrust financial institutions
Just one in 20 employees (5%) believe that financial institutions, including pensions companies, are always honest.According to Shilling Communication: Pension Snapshot, which was carried out by YouGov on behalf of Shilling Communication, levels of cynicism were lowest among young workers. For example, of those aged between 18 and 29, 16% ...
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Article
John Lewis Pensions Trust sells stake in Ocado Group
John Lewis Partnership Pensions Trust has announced the sale of its entire stake of 57,321,150 shares in online grocer Ocado Group.The sale of the stake is being undertaken by the Trust as part of its investment management activities.The scheme had already disposed of approximately half of its stake last year ...
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Article
National Employment Savings Trust starts procurement of retirement income panel
The National Employment Savings Trust (Nest) has started the procurement of its retirement income panel.The panel aims to simplify the process for members to get a good outcome when they take their money out of Nest. Retirement income providers will be able to apply to be a panel member and ...
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Article
CIPD/KPMG research: Pay increase expectations have fallen
Basic pay increase expectations by employers have fallen to 1.3% from 1.5% during the past three months, according to this quarter’s Labour Market Outlook from the†Chartered Institute of Personnel and Development (CIPD) and KPMG.The survey, which polled 750 employers, also found that average pay settlements in the public sector are ...
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Article
Centre for Policy Studies report: Employees will face £10 billion public pension bill
By 2015-16, the taxpayer will have to contribute more than £10 billion per year to make up the difference between pension contributions and pensions in payment in the public sector.In a report for the Centre for Policy Studies, Self-sufficiency is the key: addressing the public sector pensions challenge, Michael Johnson ...
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Article
Harrods Corporate Service launches incentive gift card
Harrods Corporate Service has launched an incentive gift card, which can be used to reward employees or can be incorporated into a benefits package.With a minimum of £2,500 on the card, an employee or group of employees could host a private party for up to 16 guests at the newly ...
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Article
Towers Watson research: Value of enhanced annuity sales rises
The value of enhanced annuity sales in the UK rose to £2.47 billion last year, an increase of 38% on 2009, according to research by† Towers Watson.Sales of enhanced annuities in the second half of 2010 were £1.21 billion, down 4% on the first half of the year.According to the ...
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Article
Cycle to Work Alliance research: Bikes-for-work schemes improve employee engagement
The majority (89%) of employers believe bikes for work is an important tool for improving employee engagement and 98% of employees said they would encourage their colleagues to take part in the scheme.The Cycle to Work Alliance’s Behavioural Impact Analysis, which had over 44,500 respondents, examined the benefits of the ...
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Article
Uniq proposes deal to plug £400 million pensions deficit
Uniq has proposed a solution for the deficit of its final salary pension scheme.The proposal from the chilled convenience food group has been cleared by The Pensions Regulator but is subject to approval by shareholders and the sanction of the High Court.The pension trustee has agreed to release Uniq from ...
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Article
UBS cuts bonus pool
UBS has reduced its bonus pool by 10% for the 2010 financial year compared to 2009.The bank’s board of directors approved a total bonus pool of Swiss francs (CHF) 4,319 million, down from CHF 4,779 million in 2009.Of the total bonus pool for 2010, CHF 1,550 million will be deferred ...
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Article
Friends Provident appoints Colin Williams and Paul McMahon moves to Aegon
Friends Provident has appointed Colin Williams director of corporate.Williams’ predecessor, Paul McMahon, has joined Aegon as group marketing director.In his new role at Friends Provident, Williams will be responsible for the development and implementation of the workplace savings strategy in the corporate benefits market, and will manage the ongoing integration ...
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Article
Financial sector replacing bonuses with increased pay and long-term incentives
Base pay increases, a greater use of deferred compensation and long-term incentives are replacing short-term incentives in the financial sector..According to Mercer's annual Pan-European Financial Services Executive Remuneration Survey, which provides base pay and bonus data for senior executive level positions, decreasing annual variable compensation levels have been balanced with ...
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Article
Shire Pharmaceuticals brings in flexible benefits
Shire Pharmaceuticals is to introduce a flexible benefits scheme for its 500 UK employees this month.The scheme, provided by Vebnet, will include a corporate individual savings account (Isa), financial advice, employee-funded dental cover and a salary sacrifice arrangement for contributions to Shire’s group personal pension (GPP) scheme. These will sit ...
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Article
University of Lincoln launches wellbeing website for staff
The University of Lincoln has launched a wellbeing website that directs staff to contacts and benefits to help them with health and wellbeing issues.The site can be accessed by the university’s 1,500 staff through a desktop icon and has links to NHS sites and benefits such as sports centre membership, ...
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Article
Severn Trent staff pay water bills via salary sacrifice
Severn Trent Water has simplified the way it communicates to staff that they can pay water bills via salary sacrifice.Its Smart Water benefit, which was added to the utility firm’s flexible benefits scheme in January 2010, is open to all its 6,000 staff, but only 3,500 can take it up ...
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Article
New online administration system from Heath Lambert
Heath Lambert is to launch a new online benefits administration system. Its Access2Benefits system will help employers manage benefits, prepare for pensions auto-enrolment, manage costs and improve access to management information.The three-tiered product offers broker and consultancy services around perks, an in-house benefits management and reporting platform, and a flexible ...
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Analysis
Line managers have vital role in motivation
If you read nothing else, read this…Line managers’ role in motivating staff should begin with developing a personal link between the manager and their employees.Informal recognition, such as a simple thank-you, can be more effective than formalised, organisation-wide recognition schemes.The effectiveness of peer-to-peer recognition can also be effective, but can ...
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Article
Pfizer UK offers discounted gym membership
Pfizer UK has expanded on its existing onsite gym facilities by also providing discounted gym membership that can accessed all over the country.†Enrolment for the gym membership closed in December and the benefit was rolled out to staff on 1 January 2011.Provided by Incorpore, Gymflex makes 2,500 health clubs across ...