All articles by Jennifer Paterson – Page 52
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FTSE 100 pension deficits at £43bn
Pension deficits in the FTSE 100 stood at £43 billion at 30 June 2013, compared to £42 billion in 2012, according to research by financial and actuarial consultancy Lane Peacock and Clark (LCP).Its 20th annual Accounting for pensions report provides an analysis of FTSE 100 defined benefit (DB) pension schemes ...
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Kier Group appoints Mark Bradshaw
His previous roles in the industry include: director of reward and recognition at Tata Steel Europe; HR director, reward and engagement at Amey; UK pensions and benefits manager at National Grid; and pensions administration and projects manager at Siemens.In 2012, Bradshaw was chosen as one of Employee Benefits’ Hot 100 ...
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Jenny Davidson sets up reward consultancy
The consultancy will work on pension and reward projects, including auto-enrolment, the redesign of incentive plans and review of global benefits.Previously, Davidson had been director of compensation and benefits, Europe, Middle East and Africa (EMEA), at CSC since January 2006.Her other previous roles include: pensions consultant at Alliance Boots; head ...
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Royal Mail offers eye screening for staff
Royal Mail has offered an eye-screening programme to employees at its Southampton Mail Centre.The aim of the event, which tested the vision of 500 staff, was to encourage non-desk-based employees to get their eyesight tested and to be referred to a qualified optician for a full eye exam. Some of ...
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Man City FC to launch recognition programme
EXCLUSIVE: Manchester City Football Club is to roll out a recognition scheme in October, which will align with a new framework of values it has developed.The three values, which will be known collectively as City Spirit, are Involving, Game-changing and Driving.The football club’s 380 employees will be able to nominate ...
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DWP publishes final proposals on pension disclosure rules
The Department for Work and Pensions (DWP) has published its final proposals around the disclosure of information for workplace and personal pension schemes.The occupational and personal pension schemes (disclosure of information) regulations 2013 report presents an analysis of the responses to the DWP’s consultation, which was open between February and ...
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Saving for retirement not a priority
Only 10% of respondents said saving for retirement is a priority and just 2% prioritise saving into a pension, according to research by Capita Employee Benefits.The research, which surveyed 3,000 employees through Research Now, found that Britons are prioritising day-to-day living costs (46%), repaying debt (32%), saving for a holiday ...
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Love2reward launches new voluntary benefits product
Love2reward has launched a new voluntary benefits platform that aims to help employees make savings on everyday expenses.The scheme, Everyday Benefits, was developed after the provider researched what employers and their employees were looking for in a voluntary benefits package.Its findings highlighted discounts on supermarket shopping, meals out and high-street ...
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UPS staff donated 1.8m volunteer hours in 2012
UPS employees donated a record 1.8 million volunteer hours in 2012.According to the global logistics organisation’s Corporate sustainability report 2012, which was published in July, employee volunteers logged 309,520 hours in October 2012 during Global Volunteer Month, which took the year’s total number of volunteer hours to a new record ...
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TPR investigating 89 employers for auto-enrolment non-compliance
The Pensions Regulator (TPR) has opened 89 investigations into possible non-compliance of auto-enrolment by large employers.Its Automatic-enrolment: Commentary and analysis report includes information on the first six months of auto-enrolment, between October 2012 to the end of March 2013.The investigations, which numbered 89 at 31 March 2013, are focused on ...
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Standard Life partners LEBC for SME auto-enrolment
Standard Life has partnered LEBC to provide a packaged auto-enrolment product to LEBC’s small and medium-sized employer clients. The package includes:Access to online resources for employers to administer their scheme and for employees to join and manage their pension.A suite of member communications to help promote the benefits of the ...
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One in seven do not plan to retire
One in seven (14%) respondents do not plan to retire, according to research by Baring Asset Management. This is 12% up on the proportion of respondents that said the same in 2012 and the 10% in 2011, according to Barings’ annual research, which surveyed 1,581 non-retired UK adults. The research ...
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VIDEO: Susan Gee: It is shortsighted not to invest in staff wellbeing
It is shortsighted not to invest in employee health and wellbeing, said Susan Gee, employee health and wellbeing manager at Yorkshire Water, in an interview with Debbie Lovewell, deputy editor of Employee Benefits.She added: “When you employ someone, they have got skills that are going to help you achieve your ...
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Man United and FA receive Pension Quality Mark Plus
Manchester United and football’s governing body, The Football Association (FA), have become the latest employers to receive the Pension Quality Mark (PQM) Plus for their defined contribution (DC) pension schemes.Manchester United is the first football club to attain the standard for its £578 million trust-based pension scheme, which has around ...
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Gerald Eve sees increase in pensions take-up
Gerald Eve has seen an 11% increase in its pension membership and almost a quarter (24%) of employees have increased their pension contributions since it introduced a workplace savings platform in May.The platform, which is provided by Hargreaves Lansdown, provides the national firm of chartered surveyors and property consultants’ employees ...
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HSBC to launch new global employee share plan
HSBC is to introduce a new international all-employee share plan in the third quarter of 2013.Its Interim report 2013, published on 5 August, stated that the new plan would replace its previous global plan, HSBC Holdings Savings-Related Share Option Plan: International.It will continue to offer its UK employees a sharesave ...
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PQM to explore setting standard for default funds
The Pension Quality Mark (PQM) is to explore setting tough new minimum standards for default investment funds.The PQM, which is a benchmark for good-quality defined contribution (DC) pension schemes, was introduced by the National Association of Pension Funds (NAPF) in 2009.It wants to add default funds to its list of ...
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VIDEO: Deborah Hargreaves: Pay ratios are a useful exercise
Employers should consider the pay ratio between the top executive and the average employee, said Deborah Hargreaves, director at the High Pay Centre, in an interview with Debbie Lovewell, deputy editor of Employee Benefits.She added: “I really think that’s a useful figure for them to look at.“That is not to ...
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The Pensions Trust consults on DB pension closure
The Pensions Trust is consulting with employees about closing its career average defined benefit (DB) pension scheme to future accrual.The consultation began on 1 July and will run until the end of September.The scheme has been closed to new joiners for the past two years.If it is closed, the scheme’s ...
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Government consults on tax-free childcare
The government has launched a consultation into its new tax-free childcare scheme.The consultation sets out new detail on eligibility for the scheme, for example, stating that parents who are not working because they are on parental leave or because they are carers will be able to claim. The consultation closes ...