All articles by Jennifer Paterson – Page 74
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HMRC warns employers about RTI
HM Revenue and Customs (HMRC) is reminding employers about real-time information (RTI) reporting, one month before the legislation takes effect on 6 April.From that date, employers will be required to move to a new way of reporting pay-as-you-earn (PAYE), doing so each time employees are paid rather than annually.HMRC suggests ...
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Salaries expected to rise in 2013
Three-quarters (74%) of employer respondents are expecting to increase salaries in 2013, according to research by global management consultancy Hay Group.Its Reward in 2013 report surveyed 125 organisations, representing more than a quarter of a million UK employees.It found that 51% of respondents are expecting to increase salaries by up ...
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ICR enters into pension insurance buy-in
The Institute of Cancer Research (ICR) Pension Scheme has entered into a pension insurance buy-in to cover £30 million of liabilities for its defined benefit (DB) pension scheme.The buy-in was concluded by Pension Insurance Corporation (PIC). The trustees were advised by Punter Southall and Towers Watson.John Roberts, chair of the ...
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Towers Watson launches DB pension app
Towers Watson has launched an application (app) for iPads to help employers and trustees understand the factors that affect the size of their defined benefit (DB) pension deficits.The Funding Illustrator App allows employers and trustees to engage with the possible outcomes from actuarial valuations much earlier in the valuation process, ...
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Buck Consultants launches auto-enrolment system
Buck Consultants has launched an auto-enrolment system, which is designed for small and medium-sized employers.Enrolment Pro can be integrated with employers existing systems or used as a standalone platform. It includes modules that guide employers through each stage of auto-enrolment, from auditing existing systems through to assessing ongoing governance.The modules ...
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Hotel group considers global framework vital
EB Connect 2013: It is vital to consider framework and processes when implementing a global reward infrastructure, said Nicos Nicolaides, director, compensation and benefits, Europe, Intercontinental Hotels Group (IHG) at Employee Benefits Connect on 1 March.Speaking at a session on what to consider when building a global reward infrastructure, he ...
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Employers change contribution structure for auto-enrolment
EB Connect 2013: Employers need to consider their pension contribution structure when complying with auto-enrolment to ensure that it is future-proof.During a panel session at Employee Benefits Connect on 1 March, pensions and benefits profiessionals from Heineken, British Airways (BA) and Marriott Hotels Europe discussed the lessons they have learned ...
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JP Morgan to launch family homecare scheme
JP Morgan is to launch a family homecare scheme, which includes up to six weeks at-home assistance in the event of an accident or unforeseen illness.The Insured Family Homecare scheme, which will go live on 1 April 2013, includes personal care, domestic help, meal preparation, and transport to and from ...
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Saving for retirement not top priority
Only one-fifth (21%) of respondents said that saving for retirement was their top financial priority, according to research by Friends Life.Its survey of 1,600 employees over the age of 50, found that this age group is more focused on making ends meet (23%), saving for holidays or leisure activities (15%) ...
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Premier launches online retirement service
Premier has launched an online retirement service for both employers and trustees.The web-based service, Gateway2Retirement, is aimed at helping employees understand all of their pension options, and guiding them to the right one for them, whether it is an annuity, a drawdown pension or a phased retirement.For instance, if annuity ...
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Wealth at Work launches retirement options service
Wealth at Work has launched a retirement income option service, which is designed to ensure employees maximise their retirement income.The service includes:Financial education, which will ensure employees understand the retirement income options available to them.Internet support tools to help support employees on all aspects of retirement which are easily accessible ...
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Killik launches wealth management service
EXCLUSIVE: Killik Employee Services, a division of Killik and Co, has launched a wealth management service aimed at helping senior executives achieve full value from equity participation in their employer.The service, called Encompass, focuses on ways that share participation, whether through share schemes or direct acquisition, can be used to ...
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JLT Wealth Management launches retirement service
JLT Wealth Management has launched a range of services to ensure that employers can provide their workforce with effective pre and at-retirement advice.The service, called Road to Retirement, supports employees in both defined benefit (DB) and defined contribution (DC) pension schemes.It includes:A pre and at-retirement information pack for all employees ...
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Sergeant review of financial products published
An independent steering group set up by the government has published its final recommendations, Sergeant review of simple financial products, on simplifying financial services products, such as life insurance products and savings accounts.While the report does not immediately change anything for employers, it does indicate that they should play a ...
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Unpaid parental leave extended
The right to unpaid parental leave for parents with children under the age of five will be extended from 13 to 18 weeks from 8 March.The change is being made under the revised Parental Leave (EU Directive) Regulations 2013, which were originally due to come in to effect from March ...
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FTSE pension schemes invest mainly in equities
More than three-quarters (79%) of average asset allocations for FTSE 100 and FTSE 250 defined contribution (DC) pension schemes are in equities, according to research by asset management firm Schroders.The DC default research, which looked at 16 FTSE 100 companies and nine FTSE 250 companies, found that global equities, including ...
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Employers do not monitor wellness strategies' outcomes
Only 9% of employer respondents actively monitor and measure specific outcomes of their workplace wellness strategy against original objectives, according to research by Buck Consultants.Its Working well: a global survey of health promotion and workplace wellness strategies report, found that 74% of respondents do not measure the impact of their ...
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TR Fleet partners Specsavers for driver risk management
Fleet consultancy TR Fleet has formed a partnership with Specsavers Corporate Eyecare to tackle the issue of poor eyesight and driver safety.Employers that use TR Fleet’s DriveSecure risk-management programme issued with Specsavers vouchers for free eye tests for their staff.The system will identify the drivers who are considered to be ...
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Social investment fund is most popular default
More than three-quarters (77%) of respondents would prefer to contribute to a social investment fund rather than a conventional fund when selecting the default fund for a defined contribution (DC) pension scheme, according to research by Standard Life Investments.Its research, Identifying new ways to engage with savers in defined contribution ...
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Mercer launches new DC pension and workplace savings division
Mercer has created a new defined contribution (DC) pension and workplace savings division.The consultancy has also appointed Brian Henderson (pictured) as UK leader for the division. Henderson has been a partner at Mercer since 2008, most recently as DC leader for investments in the UK. He has also been a ...