All articles by Katrina McKeever – Page 4
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Article
Citigroup adds home gas boiler service to benefits selection
Citigroup has added British Gas Homecare to its benefits selection to increase the range of products available to staff.Employees pay for the benefit, which provides service and maintenance for gas boilers, out of net salary at a discounted rate negotiated by the company.The perk is offered as a voluntary benefit ...
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Grimsby Institute monitors wellbeing impact
THE GRIMSBY Institute of Further and Higher Education is researching how health and wellbeing initiatives can impact on sickness absence rates among its own staff.A group of 16 employees in the organisation’s health and social care sector are being monitored for 12 months after being given a “health MOT” when ...
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Article
You at Work launches social networking site for staff
You at Work has launched an online workplace network to encourage employees to socialise and share information with their colleagues.The service is similar to popular public sites, such as Bebo and Facebook, and allows employees to create their own profile, send messages to other people in the organisation, and set ...
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Redundancy support service set up for employers
An end-to-end redundancy support and outplacement service has been set up to assist employers that want to reduce headcounts. Specialist firms Redundancy Assist and CV Masters Careers have teamed up to help plan and carry out headcount exercises, and give practical advice for those made redundant. The service will also ...
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Analysis
Managing DB pension investment strategies in a downturn
After a big drop in the value of defined benefit pension scheme assets last year, employers and trustees may consider reviewing their long-term investment strategies, says Katrina McKeeverLast year's global financial meltdown sparked a rollercoaster ride for defined benefit (DB) pension plans. The UK's 200 biggest privately sponsored pension schemes ...
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Analysis
What to consider when deciding which share plan to offer staff
There are many factors to consider when deciding which share plan to offer, says Katrina McKeeverAll-employee share schemes enable staff to share in the success of their employer, benefiting from any rise in the share price. According to figures from HM Revenue and Customs (HMRC), about five million UK workers ...
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Hymans Robertson launches longevity data club
Hymans Robertson has launched a longevity comparison club for UK pension fund trustees. Club Vita will pool data from various occupational pension schemes on the longevity of their members, enabling trustees to analyse, understand and mitigate their longevity risk. Douglas Anderson, founder of Club Vita, said: "Club Vita combines statistical ...
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Article
Canada Life raise free cover level
Canada Life Group Insurance has increased its free cover level (FCL) maximum to £1.25m assured per member for all schemes of more than 63 lives. The previous maximum was £1m, with an FCL formula of £15,000 times the number of lives. All schemes with an annual revision date on or ...
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Article
Marks and Spencer to change final salary pension scheme to cut costs
Marks and Spencer has announced changes to its final salary pension scheme and early retirement arrangements in a bid to cut costs.The retailer says it will cap employees’ annual increases in pensionable pay to 1%. This will affect 21,000 employees who are active members of the final salary pension scheme, ...
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Article
Employers may face absence claims over holiday clause
Employers could face high levels of staff absence if workers invoke an often little-known clause in their contracts, which allows them to reclaim holidays if they were sick while on leave.The sickness holiday clause is included in the employment contracts of many public sector organisations and and some private sector ...
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Altair launches pre-paid payroll card
Altair Financial Services International has developed a new programme which allows employers to load wages directly onto a pre-paid card through the payroll system.The Essential Pre-paid Mastercard, which was developed for NorthgateArinso, enables employers to pay employees who do not have bank accounts through payroll, reducing the need for cash ...
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Article
HBOS pension trustees seek to delay merger with Lloyds TSB
Trustees of HBOS' final salary pension scheme want to delay the firm's merger with Lloyds TSB until solid guarantees are given to protect the future of the defined benefit pension scheme.They have requested that the Court of Session in Edinburgh withhold approval for the merger after Lloyds TSB declined to ...
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Article
British Chambers of Commerce calls for freeze on minimum wage levels
The British Chambers of Commerce (BCC) has called for a freeze on the national minimum wage (NMW) level until the economy picks up.It says that businesses cannot afford the uplift at present and wants the Low Pay Commission to recommend the freeze.The BCC has calculated that another increase in the ...
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Article
PricewaterhouseCoopers has acquired Halliwell Consulting
PricewaterhouseCoopers (PwC) has acquired executive remuneration consultancy Halliwell Consulting.PwC will absorb the niche reward consultancy, which provides advice on executive remuneration and share schemes to medium-sized organisations, into its mid-tier reward business.Michael Rendell, partner and global head of human resource services, PwC, said the acquisition demonstrates its commitment to working ...
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Fines proposed for employers who breach duty to consult pension scheme members
The Department for Work and Pensions has proposed imposing fines on employers who breach their duty to consult scheme members over changes to aspects of their pension arrangements.It has opened a consultation on proposals which would give the Pension Regulator the power to impose fines on employers who are in ...
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Article
B&Q and Comet stop accepting Kingfisher Gift Vouchers
B&Q and Comet will no longer accept Kingfisher Gift Vouchers after the voucher company temporarily suspended trading following the collapse of Woolworths.Woolworths itself is currently the only retailer accepting the vouchers, largely issued to employees through workplace incentive programmes.The vouchers are issued by Flogistics a wholly-owned subsidiary of Woolworths Group ...
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Paris life models strike nude protest over pay and respect
Nude life drawing models posed naked outside Paris's City Hall's this week to demand better pay and conditions and more respect for their art.Models disrobed outside the City Hall's culture department in the cold light of winter reportedly to demand a pay increase, proper contracts and respect for their craft.Artists, ...
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Kingfisher Gift Vouchers temporarily suspends trading
Kingfisher Gift Vouchers (KGV) has temporarily suspended trading following talks over the future of scheme-member Woolworths.Woolworths shares were suspended on 26 November. KGV also runs Comet and B&Qs voucher schemes.Employees who hold the vouchers under workplace motivation and reward schemes have been encouraged to redeem them while they can.John Sylvester, ...
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Postal workers face pressure over unrealitsic routes says union
The postal workers’ union claims delivery staff are under pressure to complete unrealistic delivery routes due to misuse of a computer programme that maps out their walks.The Communication Workers Union (CWU) says Royal Mail is using the Pegasus software to map unrealistic routes, which require workers to walk at up ...
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PPF calm in face of record GBP 155 bn deficit for DB pension schemes
The Pension Protection Fund (PPF) is keeping calm in the face of a record £155bn total funding deficit for defined benefit pension schemes it covers.Concerns have been raised that the PPF could be put under a significant strain as companies go bankrupt during the downturn.However, a spokeswoman for the PPF, ...