All articles by Jennifer Paterson – Page 54
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Article
Consultation published on variable pay for bankers
The European Banking Authority (EBA) has launched a consultation on the instruments that can be used by banks to satisfy the standards of its bankers’ bonus cap legislation.The EBA’s draft Regulatory Technical Standards, which includes the requirement for banks to pay 50% of variable remuneration in non-cash instruments, is expected ...
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Article
Average annual salaries down by 2.1%
The average advertised annual salary in June 2013 stood at £33,414, 2.1% lower than in June 2012, according to research by Adzuna.co.uk.Its UK Job market report, which collected online job vacancies and analysed data in real time, found that this equates to a drop of more than £700 over the ...
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Article
More than £35bn paid into FTSE 350 pensions
FTSE 350 organisations have paid more than £35 billion into their pension schemes over the last three years with little effect on overall deficits, according to research by pension consultancy Barnett Waddingham.The research, which highlights the impact defined benefit (DB) pension schemes are having on FTSE 350 organisations, found that ...
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Article
Zenith launches wellbeing seminars for staff
Zenith has extended its employee wellbeing programme with lunchtime seminars for employees.The seminars will cover a range of topics, including stress awareness, building resilience, positive thinking, and the link between nutrition and mental health.The fleet management organisation, which has 210 employees, has added the seminars to its package of wellbeing ...
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Article
Workplace flexibility in the spotlight
The Flex Factor report, published by think-tank RSA and Vodafone UK in July, found that UK employers could see cost reductions and productivity gains worth up to £8.1 billion by optimising their approach to flexible working.Dr Steven Poelmans (pictured), professor and director of the Coaching Competency Centre at the EADA ...
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Article
Lifting Nest restrictions should create a level playing field
The pensions industry, including Nest, has widely supported the move. Logan Anderson, head of customer relations at The Pensions Trust, said: “The removal of Nest’s restrictions is a good thing, because these act as a barrier to encourage greater savings among employers and their employees. [Prior to lifting the restrictions] ...
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Analysis
How to review a default investment fund
If you read nothing else, read this …Default funds should be reviewed about once a year.Reviews should start by looking at the profile of the membership and the objectives of the fund.Employers should also examine the market to see what types of investment fund are available.David Harris, managing director at ...
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ArticleAuto-enrolment opt-out rates as expected
David Tildesley, director of client partnerships at Capita Employee Benefits, said: “When the project first started for auto-enrolment, all sorts of financial modelling assumptions were made by employers. They started off with assumptions of opt-outs of around 50% of the workforce, but I don’t think any of them ended up ...
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AnalysisCalculating the cost of auto-enrolment
If you read nothing else, read this ….Employers should complete a cost-impact assessment to determine their expected costs.With increasing contributions, ongoing administration and penalties for non-compliance, employers should be prepared for short-term and long-term costs.An investment is being made, so make sure there is value in that investment by communicating ...
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Article
Nationwide's remuneration report voted in
Nationwide Building Society members have voted overwhelmingly in favour of changes to the building society’s remuneration report.The vote, which took place at the organisation’s annual general meeting on 23 July, saw nearly 93% of members, its version of shareholders, vote in favour of its Report of the directors on remuneration, ...
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Article
Mercer adds Aegon to workplace savings panel
Mercer has added Aegon UK to its workplace savings panel.The Mercer Workplace Savings (MWS) panel, which launched in the UK in 2011, already includes Friends Life and Zurich.The MWS panel allows organisations to select the investment and savings products and services they provide to employees. The range covers trust and ...
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ArticleCompensation levels rise for US SmallCap CEOs
Median total compensation levels for chief executive officers (CEOs) in the US SmallCap 600 increased by 4.6% from 2011 to 2012, according to research by US-based executive remuneration data provider Equilar.Its 2013 S&P SmallCap 600 CEO pay strategies report provides a broad-based compensation analysis of 395 CEOs within the SmallCap, ...
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Article
National Grid aligns global recognition
EXCLUSIVE: National Grid employees have shared more than 13,000 recognition moments globally.It initially launched the pilot recognition programme for 3,000 UK employees in April 2012. In April 2013, the programme was rolled out to the rest of the utilities firm’s 15,000 UK and US employees.Following the merger between its UK ...
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Article
NHS staff in England took 9.5 days sick in past year
NHS workers in England took an estimated 9.5 working days off sick in the past 12 months, according to a report by the Health and Social Care Information Centre (HSCIC).Its report, which looked at the last four financial years and approximately 1.05 million full-time NHS workers in England, compares this ...
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ArticleThird of over 55s have no pension
Almost a third (30%) of respondents within ten years of the state pension age (over-55s) still have no active pension plan in place, according to research by Aegon UK.Its UK retirement readiness survey, which polled 1,191 employees of all ages across the UK, found that, two-thirds said they had no ...
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Article
Support for performance-related pay for teachers
Almost two-thirds (61%) of respondents support the government’s plans to introduce performance-related pay for teachers, according to research by Populus.Its research, which questioned 1,723 people, found that only a quarter (28%) of respondents believe that two teachers in the same job with the same length of service should always receive ...
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Article
2.3m pension members in schemes with poor data
More than two million (2.3) pension members remain in schemes where the common data standards are not measured or significant improvements are needed to meet a level of at least 95% of present accurate data, according to research by The Pensions Regulator (TPR).Its Scheme record-keeping report, which looked at a ...
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Article
Fire authority to launch new HR and payroll system
Merseyside Fire and Rescue Service has signed a five-year deal to have its HR, payroll, finance and procurement systems hosted and delivered by managed services provider Advanced 365.The finance and procurement applications will go live in August, followed by HR and payroll in the following months.The new contract will include ...
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ArticleUS pay budgets remain static
North American employers expect to work with the same pay budgets for increases (around 3%) as 2012, according to research by Kenexa.Its 2013 Compensation outlook survey, which questioned 1,497 organisations in the US and Canada, found that 17% of respondents have budgeted more than 10% of payroll for variable pay, ...
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Article
Network Rail incentive plan approved
Network Rail has approved a new long-term inventive plan (L-tip) for executive directors at its annual general meeting.The majority (86%) of members, the organisation’s equivalent of shareholders whose job it is to hold the board to account, approved the new plan on 18 July.The L-tip will recognise outstanding and exceptional ...