All articles by Jennifer Paterson – Page 79
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PQM to set tougher standard on pension charges
The National Association of Pension Fund’s Pension Quality Mark (PQM) is lowering its cap on charges from 1% to 0.75% of pot size per year, which employers must meet before they can qualify for the nemchmark.The change, which will come into effect from 1 April 2013, means that pension schemes ...
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Simplyhealth updates cash plan product
Simplyhealth has updated its voluntary health cash plan product by adding new benefits and increasing the annual limits on a number of existing benefits.The plan, which is available to new clients from 1 February and will be extended to existing employer clients from 1 April 2013, now includes dental accident ...
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Zipcar launches fleet calculator
Zipcar has launched a business calculator, which enables employers to better understand their current fleet usage patterns, assess the costs involved and identify time spent on administration.The tool can collate a report that demonstrates the potential time and cost savings associated with a pay-as-you-drive system, taking into account the organisation’s ...
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HSBC consults on benefits changes
HSBC is consultating with its UK employees on changes to their employment terms and benefits, including the proposed closure of its final salary pension scheme to future accrual, and improvements to the income protection scheme, maternity and paternity pay.The consultation, which will close at the end of March 2013, is ...
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Barclays C&ES launches pensions platform
Barclays Corporate and Employer Solutions (C&ES) division has launched a pensions platform in partnership with Aegon and Zurich.This will provide employers with access to Barclays Wealth and Investment Management’s investment funds, which are suitable for use by employees as default investment options.The offering is being overseen by Katharine Photiou, who ...
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M&C Saatchi awards shares to executives
M&C Saatchi has granted share awards to four of its executive directors under its long-term incentive plan (L-tip), which vested on 31 December 2012.The awards reflect the achievement of targets for both share price performance and total shareholder return conditions.When the L-tip was adopted, each of the participants paid £97,250 ...
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Guide Dogs closes DB plan and prepares for auto-enrolment
EXCLUSIVE: Guide Dogs has closed its final salary pension scheme to future accrual.The charity held a 90-day consultation with its defined benefit (DB) pension scheme members about the closure of the scheme between September and November 2012. The scheme was closed to future accrual on 31 December 2012.Justin Keppler, pension ...
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Employers not trusted to provide financial advice
One in five (19%) respondents do not trust their employer to provide financial advice or planning, according to research by Deloitte.Bridging the advice gap: delivering investment products in a post-RDR world, which surveyed more than 2,000 employees, found that workplace saving could become a growing market for advisers and providers ...
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Computershare to acquire Morgan Stanley’s EMEA shares business
Computershare is to acquire the Europe, Middle East and Africa (EMEA) portion of Morgan Stanley’s global share plan services business.The business provides recordkeeping, administration and trade executive services for corporate shares and option-based compensation plans to a range of EMEA-based employers. It administers accounts for approximately 235,000 employee participants.The acquisition ...
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Tax incentives could control sickness absence
The majority (90%) of employer respondents would like to see tax incentives introduced for all forms of healthcare-related employee benefits, according to research by Jelf Employee Benefits.The research aimed to identify the right benefits for such tax incentives by asking employers which healthcare-related benefits would most assist organisations in managing ...
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Very few MPs use payroll giving
Just nine out of 650 members of Parliament (MPs) currently donate to charity directly from their pay, up from four out of 646 in 2008.The information was gathered through a Freedom of Information request by Geared for Giving.Payroll giving, a scheme introduced in 1987, enables UK employees to donate to ...
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One Housing Group staff face pay cuts
Employees at One Housing Group will be balloted for industrial action following the housing association’s proposal to cut pay for 250 frontline staff.The pay cuts would come into effect from February 2014.One Housing Group has also divided its employees into two zones, those based in inner and outer London, with ...
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Pension deficits rise to £550 billion
Pension deficits rose by more than a third to £550 billion in 2012, according to research by Xafinity Corporate Solutions.The research, which is based on all UK defined benefit (DB) pension schemes using FRS17 and IAS19 accounting rules, found that, despite some brief optimism in September 2012, annual deficits ended ...
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Verbal praise motivates employees
EXCLUSIVE: Giving staff verbal praise can have a significant impact on employees motivation, especially in a year when pay rises may be off the agenda, according to research by employee engagement organisation People Insight.Its research, How cash-strapped businesses can motivate staff without the need for a pay rise, was compiled ...
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Tune in for live news from the Pensions and Workplace Savings Summit
The Employee Benefits team will be reporting live from the annual Employee Benefits Pensions and Workplace Savings Summit at the Four Seasons in Hampshire.The event, which will take place on 31 January and 1 February, will cover the crucial issues affecting workplace pensions and the future of workplace savings.Speakers include: ...
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Tullett Prebon delays bonuses for senior staff
Broker Tullett Prebon has agreed to delay bonus payments for senior executives to enable them to take advantage of the reduction in the higher-rate income tax from 50% to 45% in April.It offered the option to eligible employees following staff requests. Of the eligible group, 5% chose to delay their ...
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Employers should look after health at work
More than two-thirds (68%) of respondents believe their employer should take responsibility for general health at work, according to research by the British Heart Foundation (BHF).The research, published to coincide with the run-up to National Heart Month from 1 February, surveyed more than 1,200 working adults about their views on ...
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Third of FTSE 100 to freeze executive pay
More than a third (38%) of FTSE 100 companies surveyed are planning to freeze salaries for executive directors in 2013, according to research by PricewaterhouseCoopers (PWC).Its research, which surveyed heads of reward, executive board members, HR directors and remuneration committee chairman in 40 FTSE 100 companies, found that salary increases, ...
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Aria Assistance launches travel risk service
Aria Assistance has launched a range of travel risk management services for multi-national employers to provide for expatriate or travelling employees.The service includes a tailored travel risk information portal, which helps users to understand and mitigate the risks they might face when working in an unfamiliar location.Additional medical and security ...
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Younger employees shun payroll giving
The research also found that only 1.9% of under-30s in employment gave through payroll, compared with 4.5% of staff aged between 30 and 49, and 3.9% of those between the ages of 50 and 64.Chantell Mills, senior company relations manager at CAF, said: “The generation gap was pretty big. Older ...