All articles by Jennifer Paterson – Page 174
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Towers Watson research: Staff require pensions of 65% of salary to retire
The average employee expects to need a pension of around 65% of their salary before retirement, according to research from Towers Watson.Around 13% expect to need less than half their final salary, 25% expect to need around half their final salary and 27% expect to need a retirement income of ...
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NHS Employers launches retirement resource pack for staff
NHS Employers has published a resource pack that will help all NHS trusts provide a range of retirement options to their staff.The resource pack sets out how the NHS pension scheme can be used to attract and retain skills.This enables employers to explore a range of retirement options for staff ...
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Only 4% of staff would approach boss with health concerns
Only 4% of employees would approach their boss with a health concern, according to new research from Aviva UK Health.The ‘Health of the Workplace’ study also showed that only 5% would confide in a colleague, while 1% would trust their problems to the HR department. By comparison, 60% said they ...
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Unite calls off strike action after reaching pay deal with BAA
Threatened strike action at six UK airports has been ended as BAA reached an agreement with Unite yesterday.BAA staff and their union, Unite, voiced concerns that a 1% increase on basic earnings plus an additional 0.5% conditional on changes to its sickness agreement fell short of employee expectations.A ballot of ...
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Sodexo Motivation Solutions partners with Cycle Solutions
Sodexo Motivation Solutions has teamed up with Cycle Solutions as the next step in its development of a range of flexible benefits offerings.Sodexo is aiming to raise the profile of the government’s cycle-to-work scheme through the partnership.Kevin Harrington, director of Sodexo Motivation Solutions, said: “Our association with Cycle Solutions is ...
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HMRC clarifies tax rules on end of cycle-to-work scheme hire period
Her Majesty’s Revenue and Customs (HRMC) has clarified how employers must calculate the fair market value of a bicycle at the end of a cycle-to-work scheme's hire period.It is common for cycles provided under salary sacrifice arrangements to be sold or transferred to employees after the end of a period ...
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Computacentre launches reward and recognition programme
Computacentre has launched an online reward and recognition programme for its 4,000 employees.Incentive and motivation agency AYMTM will deliver the scheme under the firm’s recognition awards called ‘Excellence in Action’.Among the available recognition applications are personalised ‘Moonpig’ style cards from colleagues to colleagues, to a more formal thank-you from line ...
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Majority of BAA staff vote for strike action over pay dispute
Almost two-thirds (74%) of BAA staff members who belong to the union Unite have voted for strike action in a dispute over a 1% pay rise offer.BAA has also informed all staff that they would not receive their annual airport incentive payment of £700 for 2010.Unite balloted 6,185 staff including ...
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Majority of investment and pension business is placed through platforms
The majority (62%) of investment and pension business is placed through platforms, says research from Defaqto.The independent financial research company found that 76-100% of investment and pension business is placed through a platform for 38% of IFAs, while 51-75% is placed through platforms for 24%. Only 3% of IFAs do ...
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Leeds City Council among employers offering corporate wellbeing programmes
Leeds City Council is among the organisations offering staff access to corporate wellbeing coaching, wellness incentive days and onsite massage.Previous organisations to take advantage of the offering, from KK Wellbeing, include Barclays and Manchester Airport.Kay Kirkby, director of KK Wellbeing, said: “Boosting staff morale has a positive effect on any ...
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HSBC bank managers face changes to their sickness absence pay
HSBC bank branch managers face having their sickness absence pay reduced to a maximum of 26 weeks.The announcement was made to staff on Tuesday as part of a plan to increase the number of bank branches open on a Saturday from 330 to 500. This change will affect 1,500 branch ...
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Sainsbury's increases take-up of cycle-to-work scheme
Since Sainsbury’s launched a cycle-to-work scheme at the end of June, over 100 staff members have taken advantage of it and that number continues to grow.The scheme was introduced so that its 150,000 employees, based at over 850 locations across the UK, will be able to get fit and be ...
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Portus Consulting launches new online business
Portus Consulting has launched a new business Portus Online.The site offers flexible benefits, total reward statements, voluntary benefits, reward and recognition programmes, and benefit communication solutions.It is designed to help employers create reward and benefits solutions to meet the lifestyle needs of their employeesPortus Online can be accessed through the ...
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Newsquest to close final salary pension scheme to future accrual
Newsquest has announced plans to close its final salary pension scheme to future accrual.The scheme was closed to existing staff in 2007, when employees’ contributions were also increased from 6% to 10%.Some scheme members received the news about the changes on Friday 6 August and others received a letter to ...
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Hewitt New Bridge Street research: Executive directors’ bonuses rise
While FTSE 100 organisations have continued to demonstrate some restraint when setting executive salaries, the 2010 FTSE 100 Directors’ Remuneration report from Hewitt New Bridge Street shows that bonuses have increased.The annual report shows the median total remuneration for the highest paid director in the FTSE 100 is just under ...
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Cycle-to-work alliance launched
An alliance has been launched between Halfords, Evans Cycles and Cyclescheme to promote the benefits of cycling to work as a way to encourage healthier lifestyles, reduce carbon emissions and improve employee engagement.The Cycle to Work Alliance will work with the new government, parliament and the wider policy-making community.Dominic Church, ...
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A tenth of FTSE 100 pension plans greater than market value
One in ten FTSE 100 organisations have pension plans that are greater than their market value.According to research from Pension Capital Strategies (PCS), a division of insurance broker Jardine Lloyd Thompson, over the last 12 months, the total disclosed pension liabilities of the FTSE 100 have risen from £378 billion ...
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IPP research: Pay freezes will push public sector staff to the private sector
Nearly two-thirds (64%) of respondents think the two-year public sector pay freeze for staff with a salary of more than £21,000 will encourage movement towards the private sector, says a survey from the Institute of Payroll Professionals (IPP).The research also found nearly half (46%) of respondents feel the pay freeze, ...
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Willis introduces online voluntary benefits
Insurance broker Willis has introduced an online voluntary benefits scheme for its 3,000 UK employees.The firm is also offering the scheme to its insurance customers as part of its corporate insurance packages. For example, employers that purchase public liability insurance from Willis will also be offered access to the employee ...
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Lorica partners with LogBuy to offer voluntary benefits
Lorica has partnered with LogBuy to offer a range of voluntary benefits to its clients' employees.The new brand, Marketplace, is are available to all employers offering flexible benefits through Lorica's Cube platform.Staff can access more than 800 discounts at retailers such as Thomas Cook, Strada and Sainsbury's through online deals, ...