All articles by Jennifer Paterson – Page 58
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Article
LeasePlan updates company car tax guide
LeasePlan UK has published its latest guidance on company car taxation.The inside track: a guide to company car taxation, which has been published in associated with Deloitte, looks at the real-life impact of some of the most recent government announcements relating to company car provision and advises employers how to ...
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Article
DWP publishes call for evidence on DC pensions
The Department for Work and Pensions (DWP) has published a call for evidence on how defined contribution (DC) pension schemes are managed, with a view to setting out standards to protect members.The government has asked the industry for evidence on the current state of pension scheme governance, default options, administration ...
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Article
BMW consults on DB pension closure
BMW Group has launched a consultation into closing its final salary pension scheme to new entrants following several months of negotiations.The group has clarified that the statutory consultation period, which began on 23 July, does not close the door on future discussions.BMW Group employs around 5,000 workers across four UK ...
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Video
VIDEO: David Pitt-Watson: Collective pensions could offer better returns
The UK can have a much better system of collective pension savings, said David Pitt-Watson (pictured), author of Building the consensus for a people’s pension in Britain, during an interview with Clare Bettelley, associate editor at Employee Benefits.Pitt-Watson led a session titled ‘What should a best practice pension system look ...
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Article
Aviva launches PMI product for large employers
Aviva has launched a new private medical insurance (PMI) product for large employers.Its Guidewell product, which is available from 1 July, has been designed to manage the rising costs of claims and to help employers control their healthcare spend.The product includes:Open-referral process, so there will be no shortfall in hospital ...
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Article
L’Oreal to postpone auto-enrolment
EXCLUSIVE: L’Oreal is to postpone auto-enrolment by three months to manage its 2,500-strong beauty adviser population, who have unpredictable spikes in their earnings.This particular group of employees receive added commissions around a new product launch and over the Christmas period, but during the majority of the year would not qualify ...
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Article
Civil Aviation Authority launches DB pensions website
The Civil Aviation Authority Pension Scheme (CAAPS) has launched a new website for the 15,000 members of its defined benefit (DB) pension scheme.The member-facing website, which includes details of predicted outcome, contributions, benefits, pensioner payslips and online benefit statements, can be accessed online at any time.The project, completed with communications ...
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Article
NAPF looks to develop at-retirement services
The National Association of Pension Funds (NAPF) has issued a call for expressions of interest (EOI) on the provision of at-retirement services for those saving in defined contribution (DC) pension schemes.The NAPF is interested in working with advisers, brokers and other parties active in the at-retirement market to develop solutions ...
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Article
NAPF appoints chairs of DC and DB Councils
The National Association of Pension Funds (NAPF) has appointed the chairs of its two new policy-making councils.Lesley Williams (pictured), group pensions director at Whitbread, has been elected chair of the Defined Contribution (DC) Council and Robert Brown, senior investment consultant at Towers Watson, has been elected chair of the Defined ...
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Article
JP Morgan increases mortgage advice
EXCLUSIVE: JP Morgan has increased the number of mortgage advice sessions it offers its 14,500 UK employees.The benefit, which was added to the investment bank’s flexible benefits scheme, Elements, from 1 April 2013, is provided by mortgage broker Charles Cameron and Associates.Adam Brooke, employee benefits manager (UK) at JP Morgan, ...
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Article
BlackRock extends access to target date funds range
BlackRock is to extend access to its range of target date funds to meet a surge in demand arising from the government’s auto-enrolment legislation.Workplace pension schemes that use BlackRock for scheme administration, investment funds and member engagement tools can now access the LifePath range of annual target date funds.These were ...
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Article
Absenteeism at record low
Absence from work in the UK has dropped to a new record low, according to research by the Confederation of British Industry (CBI).The CBI/Pfizer Absence and workplace health survey, which questioned HR managers in 153 organisations employing 850,000 people across the UK, found the average absence rate was 5.3 days ...
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Article
Tui UK and Ireland targets staff absence
EXCLUSIVE: Tui UK and Ireland has hosted a wellbeing day to focus on developing a holistic health and wellbeing programme across the business and to reduce its sickness absence levels.The travel organisation’s first wellbeing day was held in June at its head office, where 1,200 employees could visit benefits suppliers ...
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Article
Siemens UK boosts pensions take-up to 98%
EXCLUSIVE: Siemens UK has seen take-up in its pension scheme rise to 98% since its auto-enrolment staging date.Around 1,000 of Siemens UK’s 13,000 employees were not in its trust-based defined contribution (DC) pension before its auto-enrolment staging date of 1 May.The technology business started communicating auto-enrolment to employees during its ...
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Article
Barclays bonus pool to hit £511m
Barclays Group has allocated £511 million towards staff bonuses in its 2013 Interim results.The £511 million bonus pool includes £94 million of deferred bonus charges.The deferred bonus charge for 2013 remained stable, and there was an expected charge of £1.2 billion relating to future periods for bonus awards granted, but ...
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Article
Sick days cost UK nearly £29bn a year
Sick days are costing UK business nearly £29 billion a year as UK workers take more than four times as many days off work due to sickness as their global counterparts, according to research by PricewaterhouseCoopers (PWC).The research, which is based on data gathered from 2,500 organisations, found that UK ...
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Analysis
Russian rewards
Andrei Murygin, partner in Linklaters’ Moscow office, says: “There is no culture of offering [benefits] to every worker. The penetration levels are very low compared to the European countries.”Tania Bearryman, group director of Ogier Corporate Services, adds: “The understanding of the benefits [employers] can get out of a properly implemented ...
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Article
Yorkshire Water engages staff in wellbeing strategy
Involving employees in health and wellbeing strategies is the best way for employers to see a return on investment.Speaking in a session titled ‘Are health and wellbeing solutions worth investing in?’ at the Employee Benefits Summit in Alicante, Spain on 26 June, Susan Gee, employee health and wellbeing manager at ...
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Article
ATS Euromaster invests in engagement
Tyre manufacturer ATS Euromaster has increased employee engagement, reduced absenteeism and decreased staff turnover following a three-year business turnaround programme.Speaking at the Employee Benefits Summit in Alicante, Spain on 25 June, Irene Stark, HR director at ATS Euromaster, described its programme in a session titled ‘How can engagement drive a ...
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Article
Adidas and Quintiles top UK’s healthiest employers
Quintiles and Adidas UK are among the employers recognised in the 2013 Britain’s Healthiest Company Awards.The awards, which were launched by PruHealth and Mercer, analysed the health and wellbeing strategies oforganisations around the UK.The event is designed to give employers a better understanding of the health and lifestyle of their ...