All articles by Jennifer Paterson – Page 85
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Ocado launches online reward portal
EXCLUSIVE: Ocado is to replace its benefits booklet witth an online reward portal to increase staff perception of the benefits package.Under the overarching umbrella of OcadoRewards, the portal will have three separate streams: OcadoBenefits, which lists the core benefits, such as its pension, share scheme, healthcare, life insurance and critical ...
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Gender pay gap widens for working parents
The average pay gap between men and women is greater in families with one or more children, according to research by the Organisation for Economic Co-operation and Development (OECD).Its Closing the gender gap: act now report found that, in OECD countries men earn on average 16% more than women in ...
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William Russell enhances global PMI products
William Russell has increased the options available on its international private medical insurance (PMI) products.From January 2013, members of its gold and silver plans will be able to claim back the cost of health checks and vaccinations of their choosing. Gold plan members will also be able to claim an ...
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Employees not saving enough for retirement
Only 16% of respondents believe their employees are saving enough for their retirement, according to research by Wealth at Work.Its Rethink retirement survey 2012 found that just 18% of respondents said their employees are aware of the various retirement income options available to them.The research also found that 71% of ...
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PMI popular for expatriate employees
When considering benefits packages for staff overseas, private medical insurance (PMI) was the most popular option, cited by nearly a third (32%) of respondents to research by international healthcare provider Expacare.Its research, Anatomy of an international business, found that share options (30%) and relocation allowance (24%) were also popular benefits ...
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Edenred launches webinars for working parents
Edenred has launched a series of webinars for working parents as the latest addition to its Parent Hub. The hub, which was launched in September 2012, is an online advice channel for employers to offer to working parents. The content of the new webinars is based on feedback from working ...
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Dennis Publishing reviews GPP
EXCLUSIVE: Dennis Publishing has completed a review to ensure its group personal pension (GPP) plan is auto-enrolment compliant, a year ahead of its staging date in January 2014.Alison Hunter, HR director at Dennis Publishing, said: “We’ve done a lot of compliance work with our pension scheme to make sure it ...
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Employers would welcome return of default retirement
Just over half (54%) of respondents would welcome the return of the default retirement age (DRA), which was removed in April 2011, according to research by law firm Irwin Mitchell.The research, which surveyed 421 UK organisations, found that, of those that said the DRA should be reintroduced, 60% would set ...
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Pension Investment Platform confirmed
Autumn Statement 2012: Chancellor George Osborne has confirmed that the Pension Infrastructure Platform (PIP) will launch in the first half of 2013.The PIP is an initiative that aims to increase the investment by UK pension schemes in UK infrastructure.The government, the National Association of Pension Funds (NAPF) and the Pension ...
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Only one-fifth of employees aware of RDR
One-fifth (21%) of respondents are aware of the retail distribution review (RDR), according to research by Canada Life Group.The research, which surveyed 1,635 employees in October 2012, found that awareness was slightly higher among men (25%) than women (19%).Under the RDR, which takes effect from 1 January 2013, pension providers ...
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ICAP selects auto-enrolment system
ICAP is to launch a pensions system in order to comply with auto-enrolment requirements ahead of its September 2013 staging date.Around 1,000 of the interdealer broker’s 1,600 employees will be covered under the new system, which manages pensions administration and communications issues. The remaining 600 staff are already in the ...
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O2 adds health cash plan to flex
O2 has added a health cash plan to its flexible benefits scheme following a review.The cash plan is offered on a voluntary basis to the telecommunications company’s 12,000 employees.The plan, One Fund, provided by Engage Mutual, offers a choice of six premiums, which provide an annual fund of up to ...
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Invensys uses rail sale to plug pension deficit
Invensys will sell its rail division to Siemens as part of plans to provide a long-term solution to its pension scheme deficit.Siemens will assume responsibility for the Invensys Railways Pension Scheme, a defined benefit (DB) plan, which had an IAS 19 deficit of £181 million at 30 September 2012.The sale, ...
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Fire service cuts cost of physiotherapy
The West Yorkshire Fire and Rescue Service saved 23% on its physiotherapy spend in six months by replacing its face-to-face service with a dedicated advice line.The service also reported a 68% reduction in staff who needed hands-on physiotherapy because employees were able to self-manage their condition.The advice line, provided by ...
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Employee owners are happier and healthier
More than two-thirds (78%) of respondents who work for employee-owned businesses (EOBs) said their organisation had very good policies on health and wellbeing, according to research by the Employee Ownership Association (EOA).Its research, Fit for work? Health and wellbeing of employees in employee-owned business, sponsored by John Lewis Partnership, found ...
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M&S lowers amount needed to fund DB deficit
Marks and Spencer (M&S) has agreed a 10-year funding plan to tackle its defined benefit (DB) pension scheme deficit.The funding plan includes cash contributions of £28 million per year from 2013/14 to 2016/17, a reduction on the previously agreed £60 million per year until 2017/18.The retailer said it expects the ...
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Vodafone and Asda awarded for share plans
Vodafone, Asda and Stagecoach Group were among the winners at the 20th annual IFS Proshare Awards.The awards, which were held on 28 November at the Grand Connaught Rooms in Covent Garden, London, were attended by nearly 500 representatives of the employee share ownership industry.The full list of winners:Best new share ...
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Concerns over consultancy charges and auto-enrolment
Pensions minister Steve Webb has expressed concerns about the way consultancy charges might interact with auto-enrolment.In a letter to Otto Thoresen, chair of the Association of British Insurers (ABI), he said: “They should only be deducted from an individual’s pot where there is a tangible benefit to that individual. I ...
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Mills and Reeve relaunches flex communications
EXCLUSIVE: Mills and Reeve has re-launched its flexible benefits communications strategy to incorporate a range of new methods.The communications began in September with a general teaser campaign, which provided details of the scheme’s enrolment dates and the benefits available.The law firm followed this with specific emails about each benefit on ...
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Guidance to promote workplace fitness
Employees should be encouraged to keep fit by incorporating walking and cycling into their everyday lives, according to the National Institute for Health and Clinical Excellence (Nice).The report, Walking and cycling: local measures to promote walking and cycling as forms of travel or recreation, puts forward guidance to help the ...