All articles by Jennifer Paterson – Page 40
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Article
QVC reduces group risk costs by 63%
EXCLUSIVE: QVC has reduced its group income protection (GIP) costs by 63% over the past three years.The home shopping channel, which has 2,000 employees, had historically provided full-term GIP for the 600 members of its defined contribution (DC) pension scheme.It consulted with Towers Watson’s healthcare and risk consulting practice to ...
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McCarthy and Stone raises pensions take up by 45%
EXCLUSIVE: McCarthy and Stone has increased take up in its pension scheme by 45% since it launched a workplace savings platform three years ago.The platform, provided by Hargreaves Lansdown, includes access to a self-invested personal pension, independent savings account and investment account.Since the retirement homes developer launched the platform in ...
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41% have not discussed retirement plans with partners
More than two-thirds (41%) of respondents have never discussed how they will turn their pension savings into income in retirement, according to research by Prudential.Its research, which surveyed 1,996 adults over the age of 40 who currently live with their spouse or partner, found that 19% have discussed this but ...
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26% say their employer has no post-maternity return-to-work policy
Around a quarter (26%) of respondents work for employers with no return-to-work policy for mothers returning to work after having a child, according to research by Mumsnet.Its research, which surveyed more than 1,000 users of the parenting website, found that 22% said their employer did not have a phased return-to-work ...
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Article25% of pensions not compliant with DC code of practice
A quarter (25%) of pension trustees surveyed believe their scheme is not at all compliant with The Pension Regulator’s (TPR) new code of practice for trust-based defined contribution (DC) pensions, according to research by law firm Sackers.Its research, which surveyed 44 pension trustees at the 2013 National Association of Pension ...
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Article
16% would call in sick to avoid childcare costs
Around one-sixth (16%) of respondents would call in sick to work to avoid the costs of childcare during half term, according to research by Vouchercloud.Its research, which surveyed 1,612 working parents, looked into childcare arrangements over the half-term period.More than a quarter (27%) intended to use nursery or some other ...
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Article
UK university staff to strike over pay
Employees at UK universities and colleges are striking over pay on Thursday 31 October. Members of the University and College Union (UCU), Unison and Unite are protesting a 2013/14 pay rise of just 1%.The unions are demanding a basic pay rise of at least 3.2% to match inflation. The University ...
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Online flexible benefits on the rise in legal sector
EXCLUSIVE: More than a quarter (26%) of respondents offer online flexible benefits schemes, up from 15% in 2011, according to research by employee benefits organisation Portus Consulting.Its HR in law employee benefits survey 2013, which took data from 122 legal firms, found that, among the top 100 law firms, the ...
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ArticleLow pay tops reasons for unhappiness at work
The key sources of workplace unhappiness are low pay (36%), little or no variety in job role (25%) and unpaid overtime (22%), according to research by workforce management organisation Kronos.The Forgotten Workforce survey, which questioned more than 2,500 employees, found that feelings about low pay vary by sector, with 42% ...
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Article65% of HR professionals feel their pay and bonuses are fair
Nearly two-thirds (65%) of HR professionals are certain that their overall remuneration package is fair considering current market conditions, according to research by recruitment organisation Carlton Senior Appointments.However, its Salaries and bonuses: a comprehensive review, human resources research, which surveyed 140 HR professionals, found that less than half (43%) of ...
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Article
Lloyd’s Superannuation Fund insures DB pension
The Lloyd’s Superannuation Fund (LSF) has concluded a pension insurance buyout for its defined benefit (DB) pension scheme.The transaction, in conjunction with provider Pension Insurance Corporation, covers £40 million of pension liabilities.The LSF is a multi-employer pension scheme that was established in 1929.Its members are employees and former employees of ...
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FTSE 350 pension deficit decreases
The pension deficits of the FTSE 350 reduced from £115 billion at 31 July 2012 to £58 billion at 31 July 2013, while aggregate market caps increased from £1,800 billion to £2,100 billion over the same period, according to research by Hymans Robertson.Its annual FTSE 350 pensions analysis report found ...
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Innocent Drinks staff share £19m bonus payout
Innocent Drinks employees have received a £19 million payout from a long-term bonus share plan following the organisation’s acquisition by Coca-Cola in April.Around 250 staff have benefited from Coca-Cola’s increased investment in the organisation.The drinks organisation agreed a deal with Coca-Cola in the spring, which followed its initial investment in ...
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Lorica adds master trust to auto-enrolment product
EXCLUSIVE: Lorica Employee Benefits has partnered Now: Pensions to add a master trust to its integrated auto-enrolment and pensions product, Littleblue.Littleblue, which also includes a group personal pension (GPP) plan, is designed to suit employers with between five and 250 employees, but can be used by both larger and smaller ...
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ArticleLess than 25% have received incentives in past two years
Less than a quarter of respondents have received a reward or incentive from their employer in the past two years, according to research by global payments organisation Ixaris.Its 2013 Study of rewards and incentives, which surveyed 4,800 employees in the UK, US, Canada, France and Germany, found that more than ...
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Pension Protection Fund reports £1.8bn surplus
The Pension Protection Fund (PPF) has reported a surplus of £1.8 billion in its 2012/13 annual report.It also stated the probability of meeting its long-term funding target by 2030 has increased to 87%, an increased from 84% at 31 March 2012.According to the PPF report, its performance owed much to ...
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JLT to implement new management structure
JLT Employee Benefits is to implement a new management structure, which focuses on developing closer direct relationships with its employer clients.Under the new structure, which will take effect on 1 January 2014, Malcolm Reynolds, managing director, will be responsible for existing relationships with employers across key products and services, including ...
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Multinationals unprepared for expatriate tax and payroll issues
Multinational employers do not have the adequate procedures in place to track tax, payroll and immigration issues for employees on formal or informal overseas assignments, according to research by EY.Its Your talent in motion: global mobility effectiveness survey 2013, which questioned 264 senior global mobility professionals, found that, despite this, ...
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Average salary up by 0.6%
The average advertised annual salary grew 0.6% between August and September 2013, to £34,005, the second consecutive monthly rise, according to research by Adzuna.co.uk.However, its UK Job market report found that the average advertised annual salary is 0.3% lower than in September 2012.In real terms, pay has fallen £1,020 in ...
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Aon Hewitt appoints Stephen Hackett head of health and risk
Aon Hewitt has appointed Stephen Hackett (pictured) head of health and risk.In his new role, he will advise employers on how to assess and address the costs of ill health on their businesses and developing an effective employee risk management strategy.Hackett has nearly 30 years’ experience in health, wellbeing and ...