All articles by Jennifer Paterson – Page 77
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Spire Healthcare sees 40% benefits take-up
EXCLUSIVE: Spire Healthcare has seen a 40% take-up of its voluntary benefits scheme since it was launched in April 2012.The Your Benefits scheme, provided by Personal Group, was introduced after a 2011 employee engagement survey found that staff were unsure what core benefits were available to them.The scheme includes Spire ...
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BAE Systems insures DB pension plan
BAE Systems has implemented a longevity insurance arrangement for its defined benefit (DB) pension scheme.The arrangement, with Legal and General, insures the BAE Systems 2000 Pension Plan against the financial risk of its 31,000 current pensioners living longer than expected, and covers £2.7 billion of liabilities.Legal and General will retain ...
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Robert Half staff to raise money for charity
Robert Half is arranging a series of initiatives for its staff to help raise money for the British Heart Foundation after selecting the organisation as its charity of the year for 2013/14.The fundraising initiatives will include five-a-side football, quiz nights, fancy dress and client hospitality events. Employee interest groups have ...
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UK workers not prepared for retirement
Employees will run out of savings just seven years into their retirement, according to research by HSBC.The future of retirement: a new reality report found that the average retirement in the UK is expected to last 19 years, however average retirement savings will be used up after a third of ...
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East Thames Group moves to new HR and payroll system
East Thames Group has implemented an online HR and payroll system for its 1,000 employees.The public sector housing organisation previously had separate HR and payroll systems in place. It was looking to move to an integrated web-based system to improve efficiencies in services and in cost.East Thames Group signed a ...
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Mitie staff to participate in charity bike ride
Mitie employees are participating in the London Revolution cycle challenge to raise money for its charity partner City Gateway.More than 350 staff are taking part in the event, which will see up to 2,500 cyclists ride 180 miles around London over two days.The charity helps young people in London by ...
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Glasgow Climbing Centre introduces bike rides
Glasgow Climbing Centre has introduced a weekly bike ride for all staff.The climbing centre, which employs eight full-time staff and 45 part-time staff, holds the bike ride every Wednesday afternoon.Rob Watts, centre manager at The Glasgow Climbing Centre, said: “By nature of what we do, the people I employ are ...
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Grass Roots Group CEO to step down
David Evans is to step down as chief executive officer and chairman at Grass Roots Group.Andy Lister, former managing director of Grass Roots UK, will return to the business as chief operating officer, while David Hackett, Nat Solomon and Richard King have been appointed as non-executive members of the board.Evans ...
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Employers must play role in reducing workplace stress
Almost half (48%) of employee respondents said that stress impacts negatively on their working life, according to research by Canada Life Group.The research, which surveyed 1,613 UK employees, found that, of those who found their anxieties impacted on their working life in 2012, 20% said their employer was understanding, 8% ...
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LinkedIn gives all employees an iPad mini
LinkedIn has awarded each of its 3,500 employees an iPad mini as a reward for beating quarterly revenue targets by more than $25 million.The iPads were handed out at the organisation’s bi-weekly, all-employee meeting.A LinkedIn spokesperson said: “We wanted to acknowledge the hard work and accomplishments of all of our ...
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Wightlink appoints pension consultancy
Wightlink has appointed a pensions consultancy to provide actuarial and administrative services for its £70-million defined benefit (DB) pension scheme.The trustees of the scheme selected Punter Southall following a competitive tender process.Bill Frampton, chair of the trustees at the ferry company, said: “It is clear that [Punter Southall] understands our ...
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Employee-owned firms outperform FTSE firms
Employee-owned organisations outperformed the FTSE all-share companies in the first nine months of 2012, according to research by Field Fisher Waterhouse.The UK Employee ownership index (EOI), published by the law firm’s equity incentives team, monitors the share-price performance of listed organisations, comparing the performance of FTSE all-share companies with organisations ...
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Rolls Royce to change DB financing
Rolls Royce will change the financing of its defined benefit (DB) pension schemes in 2013 so that the post-retirement benefits are calculated on the net surplus or deficit using an AA corporate bond rate.According to the manufacturer’s 2012 Full year results, if this strategy had been effective in 2012, it ...
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Average pay in 2012 on a par with 2003
The average earnings of UK employees in 2012 were roughly the same as 2003 levels in real terms, according to analysis by the Office for National Statistics (ONS).The analysis, which is based on the ONS’s Annual survey of hours and earnings, found that real wages peaked in 2009. Since then, ...
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The White Company launches corporate reward division
The White Company has launched a corporate reward division called The White Company for Business, which enables employers to incentivise and recognise employees.Gift vouchers are available in £5, £10 and £50 denominations, which can be spent online, in-store and via phone. The vouchers can also be remotely activated.The White Company ...
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Barclays Group pension deficits rise
Barclays Group’s total pension deficits increased by £1.1 billion in 2012, from £0.2 billion at 31 December 2011 to £1.3 billion at 31 December 2012.In its Full year 2012 results, the banking group said this reflected recognised assets of £2.1 billion and unrecognised actuarial losses of £3.4 billion.Barclays Group’s main ...
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Wages will not rise until late 2014
Average wages are not expected to rise in real terms until late 2014 after a period of stagnation and decline, according to a report by Resolution Foundation.Its Squeezed Britain 2013 report, is an audit of the economic circumstances of the country’s 10 million adults living on low-to-middle incomes.It found that, ...
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Pension deficits decrease by £33.5bn
The aggregate deficit of UK pension schemes has decreased by £33.5 billion over the month of January, according to research by the Pension Protection Fund.Its PPF 7800 index, which measures the funding positions of 6,316 UK private sector pension schemes, found that the deficit at the end of January 2013 ...
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G1 Group appoints auto-enrolment consultancy
G1 Group has appointed a pensions consultancy to help prepare for its auto-enrolment staging date of August 2013.The Scottish leisure operator, which employs 1,800 staff in bars, clubs and restaurants, will receive a full financial analysis of its pension costs and advice regarding the selection of a suitable pension provider ...
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L&G to launch DB pension monitoring platform
Legal and General Investment Management (LGIM) has partnered PensionsFirst to launch an online analytics and monitoring platform for defined benefit (DB) pension schemes.The partnership combines LGIM’s understanding of the needs of pension schemes with PensionsFirst’s provision of DB risk analytics and reporting.The platform has been designed for use by governance-constrained ...