All articles by Jennifer Paterson – Page 75
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Article
OECD publishes report on DC pensions
The Organisation for Economic Co-operation and Development (OECD) has published a report summarising the challenges that policymakers face around defined contribution (DC) pension schemes.The OECD Roadmap for the good design of DC pension plans, recommends key improvements that can help ensure DC pensions deliver the incomes that individuals need to ...
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Article
Most fathers would consider taking extended paternity leave
More than half (58%) of respondents would consider taking extended paternity leave, according to research by law firm Allen and Overy.The report, Discrimination at work: Paternity rights 2013, which surveyed 1,163 working men, found that 79% of those between the ages of 25 and 34 would consider taking extended paternity ...
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Article
Dairy Crest communicates doctor’s service to staff
EXCLUSIVE: Dairy Crest has rolled out a series of presentations to its 5,300 employees to tell them about the second-opinion doctor’s service that it added to its group income protection (GIP) scheme in 2012.The presentations, which will continue until early May, started with a briefing for 60 staff at the ...
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Article
Childcare voucher changes confirmed
Budget 2013: Chancellor George Osborne has confirmed that the current childcare voucher scheme will be replaced by a new tax-free childcare scheme for working families.The change, which will come in from autumn 2015, will see the government provide working families with 20% of their childcare costs, up to £1,200 for ...
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Article
Childcare voucher schemes set to change
Childcare voucher schemes are expected to change in Autumn 2015, under plans to be unveiled by prime minister David Cameron and deputy prime minister Nick Clegg today.The new system, which will replace the current salary sacrifice arrangements for childcare voucher scheme, will see employees pay 80% of their childcare costs ...
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Article
Employee owners to receive CGT relief
Budget 2013: The government has announced it will fund the introduction of a capital gains tax (CGT) relief on the sale of a controlling interest in an organisation into an employee ownership structure.The government will fund the CGT relief, which it aims to introduce in the Finance Bill 2014 in ...
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Article
Education sector values death-in-service benefits
Two-thirds (66%) of respondents said death in service was the most highly valued benefit in the education sector, according to research by JLT Employee Benefits.Its 2012/13 Survey of employee benefit trends in the tertiary education sector, which polled employers from 73 universities and colleges, found that 25% of respondents said ...
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Article
L&G changes default fund for auto-enrolment
EXCLUSIVE: Legal and General has used auto-enrolment compliance as an opportunity to review and change its stakeholder pension scheme’s default investment fund and reduce its annual management charge (AMC).The scheme’s default fund is currently the L&G UK Equity Index Fund, but this will be changed to the L&G Multi Asset ...
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Article
Friends Life launches auto-enrolment product
Friends Life has launched an auto-enrolment product that includes an online hub, a suite of employee communications and a range of default investment options.The hub will:Enable employers to enroll jobholders into a new or existing Friends Life pension scheme, or a combination of both.Decide which employees are eligible for scheme ...
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Article
AllianceBernstein rolls out new ethical target date funds
AllianceBernstein has rolled out a new range of ethical target date funds to the UK defined contribution (DC) market.The range will be managed using underlying FTSE4Good indices and UK gilts.The Pensions Trust is the first adopter of the funds. It will offer the range to all its DC employer schemes ...
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Article
House of Lords reports on ageing society
More than 10 million people in the UK can currently expect inadequate retirement incomes, according to a report by the House of Lords’ Select Committee on Public Service and Demographic Change.According to the report, Ready for ageing?, the UK will see a 50% rise in the number of people over ...
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Article
Henderson launches retirement advice
EXCLUSIVE: Henderson Global Investors has introduced employer-funded one-to-one financial advice sessions, targeted at employees who are around 15 years away from retirement.Jeremy Mindell, former senior reward and tax manager at Henderson Global Investors, said: “There’s an element of saying: ‘What are you going to do with your money? Is this ...
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Article
BBC's sickness absence not due to stress
The BBC has disclosed that only 0.18% of working days were recorded as lost due to stress, anxiety and/or depression between April 2011 and March 2012.Following a Freedom of Information request by LondonlovesBusiness.com, the Daily Mail reported that the broadcaster spent £130,000 on stress counselling for staff in 2012.A spokesperson ...
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Article
Kingfisher lowers pension deficit by £11m
Kingfisher has lowered its net pension deficit by £11 million since closing its defined benefit (DB) pension scheme to future accrual from 30 June 2012.The retailer, which is the parent company of six organisations, including B&Q and Screwfix, showed in its 2012 Preliminary results that the pension gain includes £27 ...
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Article
NHS trusts spent £1bn on sick pay in three years
NHS trusts in England spent more than £1 billion on sick pay over the past three years, according to research by the Chartered Society of Physiotherapy (CSP).The research, Fit enough for patients? An audit of workplace health and wellbeing services for NHS staff, looked at documents for 163 trusts, which ...
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Analysis
Auto-enrolment tips from Australia and New Zealand
IF YOU READ NOTHING ELSE, READ THIS…The Australian Superannuation Guarantee Fund was introduced 20 years ago as a compulsory scheme.New Zealand’s Kiwisaver, which was launched in July 2007, more resembles auto-enrolment in the UK, with employees allowed four weeks to opt out.Areas where UK employers can learn from both implementations ...
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Article
Equiniti Group rebrands Xafinity businesses
Equiniti Group has removed the Xafinity brand from its pensions businesses.From 28 February 2013, Xafinity Claybrook will become Equiniti Claybrook and Xafinity Paymaster will become Equiniti Paymaster.With 1,000 staff in 10 locations, Equiniti’s pensions division, comprising Equiniti Claybrook and Equiniti Paymaster, makes up 40% of the overall group.Wayne Story, chief ...
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Article
Tune in for live updates from Employee Benefits Connect
The Employee Benefits team will be posting live news stories from Employee Benefits Connect on 1 March.The one-day conference is being held at the Park Plaza Westminster Hotel in London.The event will include conference sessions, networking opportunities, workshops and an exhibition.To follow the event on Twitter, search for EBConnect.For more ...
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Article
European Union agrees cap on bankers’ bonuses
The European Commission and the European Parliament have reached a preliminary agreement on limiting bonus payments in the financial services sector.The cap will limit bankers’ bonuses to one-time salary, or two-times salary if a majority of shareholders agree. There will be some leeway for long-term incentives, although the details of ...
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Article
ITV defined benefit pensions deficit rises
ITV’s total pension deficit has increased by £161 million since December 2011.Its defined benefit (DB) pension schemes had an aggregate IAS 19 deficit of £390 million at 31 December 2011. This had risen to £551 million at 31 December 2012.In its Preliminary results 2012, the media organisation attributed the deficit ...