All articles by kscott – Page 75
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Article12% regret not being more engaged with their pension savings
More than one in 10 (12%) of respondents regret not being more engaged with their pension savings, wishing they had either joined their workplace pension scheme or moved out of their pension scheme’s default fund, according to research by Aegon.Its survey of 824 adults also found that 14% of retired ...
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ArticleThe Post Office completes £450m pensions buy-in
The Post Office has completed a £450 million bulk annuity buy-in transaction for its section of the Royal Mail Pension Plan.The buy-in transaction, completed with Rothesay Life, will cover the scheme’s deferred members and includes all benefits accrued since the Royal Mail Pension Plan started in 2012.The pension scheme’s trustees ...
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ArticleSainsbury’s proposes pay increase for 130,000 store employees
Retail organisation Sainsbury’s has proposed to increase its base rate of pay for 130,000 store employees, from £8.00 an hour to £9.20 an hour for UK employees or £9.80 an hour for staff based in zones one and two in London.To fund the pay increases, which total £100 million, Sainsbury’s ...
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ArticleMachin joins Daily Mail and General Trust as head of reward
John Machin has joined media organisation Daily Mail and General Trust (DMGT) as head of reward.During the course of his career, Machin has undertaken global performance-based salary and bonus review processes, the implementation and design of annual and long-term incentive plans, total reward statements, job evaluation and grading and the ...
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Article
Parker starts at STERIS Corporation
Healthcare and life sciences organisation STERIS Corporation has hired Elaine Parker as senior manager, compensation and benefits, Europe.Parker, who has 20 years' experience in employee benefits, specialises in implementing reward strategies and recognition programmes, designing salary structures, benchmarking and job evaluation.Previously, Parker worked as reward manager, Europe, Middle East and ...
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ArticleNational Trust to give 4.5% pay rise
Image credit: National TrustEmployees at conservation organisation the National Trust who are members of the trade union Prospect, have voted to accept a 4.5% pay increase.The 4.5% pay rise will be effective from 1 April 2018 and will benefit 8,000 employees.Prospect initiated talks regarding pay increases in summer 2017 and ...
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OpinionAmy Richardson: Tesco is in the firing line over equal pay claims
It seems like a week cannot go by without gender pay being in the news, and this time it is the turn of Tesco to be in the firing line.The huge equal pay claim that Tesco is facing will look at a comparison between shop employees, who are predominantly female ...
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ArticleUK ranks 25th in Europe for gender pay gap
The United Kingdom (UK) has been ranked 25th out of 30 European countries analysed for gender pay gap, according to research by Spotahome.Its gender pay gap analysis, which uses data from the Eurostat Gender Pay Gap Statistics across 30 countries, with high scores indicating a small gender pay gap, shows ...
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ArticleCourt of Appeal rules in favour of Air Products in long-term incentive plan age discrimination case
The Court of Appeal has allowed an appeal by industrial gas and chemical retailer Air Products, finding that the organisation can objectively justify retirement at a specific age as a good leaver reason within its long-term incentive plan.The case, Air Products v Cockram, regards employee Michael Cockram, who resigned from ...
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AnalysisIs there a need for better targeted pensions education for female employees?
Need to know:Research published by Aon in 2016 indicates that women have lower levels of financial confidence than men. This has a domino effect on how they then make decisions around saving for retirement.A pensions education programme that discusses retirement savings in relation to taking time away from work to ...
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OpinionJames Walsh: UK should take a leaf out of Australia's book to increase pensions understanding
The pensions sector needs to think afresh about how best to communicate with savers, especially women. A Pensions and Lifetime Savings Association (PLSA) survey, published in May 2017, showed that millennial women feel more financially anxious than their male peers. If even this group, which has the smallest male-female pay ...
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Case StudiesHays addresses gender pay differences as part of pensions education
Recruitment organisation Hays has run pensions education presentations for its 3,200 UK employees to ensure that staff understand the basic concepts of how their workplace pension works.Improving employees’ fundamental knowledge of pensions can help them to pinpoint wider issues that may impact their retirement savings, for example, the potential impact ...
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ArticleKingfisher reports a 9.6% mean gender pay gap
Retailer Kingfisher Group has reported a 9.6% mean gender pay gap for fixed hourly pay across its 34,000 UK employees as at 5 April 2017.The organisation has reported its gender pay gap data across its four legal entities in line with the government’s gender pay gap reporting regulations and ahead ...
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ArticleMorrisons to face legal action over equal pay
Retailer Morrisons is to face legal action over equal pay from current and former female store-based employees who claim they are paid less than male staff working at the retailer’s distribution centres.The equal pay claims regard the disparity in earnings between female employees working across Morrisons’ 498 UK stores compared ...
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ArticleFTSE 350 defined benefit pension deficit falls to £72bn
The accounting deficit for defined benefit (DB) pension schemes at the UK’s top 350 organisations has decreased by £1 billion, from £73 billion at the end of January 2018 to £72 billion at the end of February 2018, according to research by Mercer.Its research, which analyses pension deficits calculated using ...
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ArticleThree promotes Davidson
Telecommunications organisation Three has promoted Jenny Davidson to director of people propositions.Davidson, who has experience across a variety of industry sectors, specialises in remuneration committee advice, sales incentive plans, executive and non-management short-term incentive plans, mergers and acquisition processes, European pensions design and legislation and employee benefits programmes.Previously, Davidson was ...
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ArticleWestern Power Distribution employees accept two-year pay deal
Employees who work for electricity distribution organisation Western Power Distribution, and who are members of the trade union Unite, are to receive a two-year pay deal effective from April 2018.The pay deal, which will benefit 6,000 employees based across the South West, Midlands and Wales, includes a 4.2% pay increase, ...
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ArticleAsda reports a 12.5% mean gender pay gap
Retail organisation Asda has reported a 12.5% mean gender pay gap for fixed hourly pay across its 149,000 UK employees as at April 2017.The organisation has reported its gender pay gap data in line with the government’s gender pay gap reporting regulations and ahead of the private sector submission deadline ...
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ArticleBjorn Borg holds compulsory exercise hour for Swedish employees
Something for the weekend: Sports clothing retail organisation Bjorn Borg holds a weekly mandatory exercise hour for 212 Sweden-based employees in order to increase employee productivity.Every Friday between 11am and 12pm, the Stockholm-based office is closed for business as employees attend a nearby gym for a specially arranged exercise class ...
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ArticleEasyjet hires Bennett
Airline organisation Easyjet has hired Ella Bennett as its group people director.Bennett, who will begin in her new role on 21 May 2018, has experience in both the UK and internationally. She specialises in reward, remuneration, talent development, large-scale change and digital transformation.Currently, Bennett is working as HR director at ...