All articles by Jennifer Paterson – Page 51
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Article
Cobham enters bulk-annuity contract for DB pension
Aerospace and defence organisation Cobham has entered into a bulk-annuity transaction for its defined benefit (DB) pension scheme.The transaction, with insurer Rothesay Life, covers £280 million of pension liabilities.The policy, which is being held as an investment by the trustees, gives the organisation a secure, low-risk asset with additional protections, ...
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Article
NHS Trust hosts benefits and wellbeing fairs
York Teaching Hospital NHS Foundation Trust has hosted a series of benefits and wellbeing fairs for employees at two of its hospitals.More than 1,000 employees attended the first fair at York Hospital in June and 400 employees attended the second fair at Scarborough Hospital in July.Benefits featured at the fairs ...
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ArticleBenefits and pay equality more common in the public sector
Almost two-thirds (63%) of respondents in the public sector provide employees with equal benefits, compared with 40% of respondents in the private sector, according to research by the Chartered Institute of Personnel and Development (CIPD).Its Labour market outlook for summer 2013, which surveyed 1,034 private and public sector employers, found ...
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Article
Barclays Cycle Hire staff strike over pay
Employees of the Barclays Cycle Hire scheme have begun 48 hours of strike action in a row over pay.The employees, who are members of the Rail, Maritime and Transport (RMT) trade union, have cited the imposition of a 2% pay increase for 2013 and an end to overtime as reasons ...
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Article
UK bucks global trend for wellbeing dip
Employee owners are the happiest workers in the UK, according to research by global workplace provider Regus.Its annual Work-life balance report, which is based on a poll of 26,000 professionals across the globe, reveals a worldwide dip in wellbeing over the last year, but the UK bucks this trend, up ...
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Article
Royal Mail reduces DB pension liabilities
Royal Mail Group has reduced the liabilities of its defined benefit (DB) pension scheme from a deficit of £2.7 billion in March 2012 to a surplus of £825 million at March 2013.The group’s Annual report and special purpose financial statements for the year ended 31 March 2013 showed that this ...
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Article
Goldman Sachs to sell stake in pension insurer
Goldman Sach is to sell a majority stake in pension insurer Rothesay Life in the next year.Rothesay Life mitigates the financial and longevity risk of UK organisations’ defined benefit (DB) pension schemes.It was established by the investment banking and securities firm in 2007.A spokesperson from Goldman Sachs said: “The firm ...
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AnalysisHow to green a flexible benefits scheme
If you read nothing else, read this …In October 2013, for the first time, UK quoted companies will have to report their greenhouse gas emissions in their annual accounts.Sustainable and green benefits include bikes-for-work schemes, low-emission company cars, environmental pension investments and opportunities to eco-volunteer.These perks, as part of a ...
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Case Studies
Withers aims to raise CSR profile with green benefits
When it launched its flexible benefits scheme in April 2013, it included a section called Ethics and Sustainability, which is the entry point into its payroll-giving, bikes-for-work and carbon-offsetting schemes.The carbon-offsetting benefit, provided by Pure the Clean Planet Trust, allows staff to enter the details of their carbon footprint online ...
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Case Studies
Accenture UK and Ireland offers green benefits through flex
Camilla Drejer, corporate citizenship lead for Accenture, UK and Ireland, says these benefits are tied to ensuring the sustainable growth of the business.“Fostering environmentally sustainable growth for our organisation and our stakeholders is at the heart of our environmental strategy,” she says. “As a people-based business, all this is underpinned ...
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Article
Recommendations published on benefits tax rules
The Office of Tax Simplification (OTS) has published an interim report as part of its review of the tax rules around employee benefits and expenses.The overall aim of the review, which was announced in January 2013, is to look at opportunities for simplification.The first stage of the review, which covers ...
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Article
Howden acquires Workplace Pension Solutions
Howden Insurance Brokers has acquired employee benefits consultancy and insurance broking service provider Workplace Pension Solutions (WPS).WPS was set up in 2012 by Jon Francis and Robbie Weston, both of whom have experience as independent financial advisers.Weston (pictured), managing director of WPS, said: “Howden is the perfect place for us ...
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The Pensions Regulator appoints interim chief executive
The Pensions Regulator (TPR) has appointed Stephen Soper (pictured) as interim chief executive, with effect from 1 August.Soper, who was previously executive director for defined benefit (DB) regulation, will take charge of TPR until a permanent replacement is found for Bill Galvin, who left his position as chief executive at ...
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Article
Reward not linked to business objectives
Only 28% of respondents have a defined strategy in place that links reward and incentives to business objectives, according to research by Edenred.Its Getting more from employee reward and incentives research, which surveyed 50 HR and benefits managers, found that 23% of respondents track how reward and incentives contribute to ...
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Article
William Grant aligns payroll globally
EXCLUSIVE: William Grant and Sons has completed the first phase of a global alignment of its payroll systems.The distiller, which manufactures drinks brands such as Glenfiddich, Hendrick’s and Tullamore Dew, employs 1,700 employees across Asia, Australia, Europe, the US and the UK.Gary Brewer, head of reward and organisational development at ...
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Auto-enrolled staff have stayed in pensions
More than 90% of employees who have been auto-enrolled into a workplace pension by their employer have stayed in the scheme, according to research by the Department for Work and Pensions (DWP).Its Automatic-enrolment opt-out rates: findings from research with large employers report surveyed 50 employers, 42 of which provided opt-out ...
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InterContinental staff share 33,000 recognition awards
InterContinental Hotels Group (IHG) employees have received more than 33,000 global recognition awards.The hotel group rolled out an international recognition programme for more than 350,000 employees in almost 100 countries in November 2011.The programme, Bravo, which is provided by Globoforce, enables the hotel group to encourage employee behaviour that reflects ...
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Johnson Fleming launches auto-enrolment checklist
Johnson Fleming has launched an auto-enrolment checklist for employers.The pensions and benefits consultancy has designed the checklist to help with both initial project planning and as a final check for employers nearing their staging date.The checklist is broken down into six key sections:Project: Looking at the mechanics of how to ...
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Article
TinyPulse enhances staff motivation product
TinyPulse has enhanced its recognition product by adding in the ability for employees to recognise colleagues and to make suggestions to their employer.The product, which was launched in September 2012, was developed by entrepreneur David Niu to help employers keep their finger on the pulse of employee happiness.Its employer clients ...
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Article
Molson Coors settles pay dispute with staff
Molson Coors has settled a long-running pay dispute with employees at its brewery in Burton-on-Trent.The dispute centred on pay and conditions, as well as proposed new shift patterns for the 455 employees. In May 2013, employees voted in favour of strike action by a margin of 97%.The new deal includes:A ...