News – Page 40
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ArticleCarlsberg UK relaunches flexible benefits scheme
EXCLUSIVE: Carlsberg UK has relaunched flexible benefits scheme for more than 1,700 employees .The brewing organisation, which employs more than 40,000 people globally, has rolled out the scheme following its benefits review in 2014.It carried out the review in order to simplify its benefits administration and to boost take up ...
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ArticleArup boosts benefits take up among generation Y staff
EXCLUSIVE: Arup has seen increased take up of the benefits it offers to cater for generation Y employees.The organisation takes on around 200 to 300 graduates a year, which has changed what employees want from the firm.As a result, the professional services firm has seen take up of new benefits, ...
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ArticleCommission must be included in holiday pay
Employers must take commission payments into account when they calculate holiday pay, an employment tribunal has ruled.In the case of Lock v Brititsh Gas, the tribunal ruled that the Working Time Regulations should be read to ensure commission is brought into the calculation for holiday pay in line with the ...
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ArticleBudget confirms extended pension freedoms
Busget 2015: Chancellor George Osborne (pictured) has confrmed that the pension freedoms have been further extended to remove the restrictions on buying and selling existing annuities.From April 2016, pensioners with an annuity will be able to trade it in without a tax penalty. This means that approximately five million pensions ...
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ArticleVospers relaunches voluntary benefits plan
EXCLUSIVE: Vospers Motorhouse has relaunched its voluntary benefits scheme for all 550 members of staff.It now includes access to over 7,500 national retail discounts, cashback offers and the option of local discounts, which employees can access via a unique login.The family-run motor organisation wanted to replace its previous scheme which ...
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ArticleWolseley UK to introduce mobile technology for flex
Wolseley UK is looking to implement mobile technology within its flexible benefits scheme to improve its employee engagment levels and take up of benefits. The heating and plumbing organisation is hoping to implement the technology this year so that employees can make flex choices via their mobile and tablet devices.Speaking ...
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ArticleWolseley UK to discuss future of flexible benefits
Wolseley UK will embrace the flexible benefits technology of the future to help drive employee engagement.Speaking in a session titled ‘The future of flex’ at Employee Benefits Connect on 4 March at the Lancaster London, Neil McCawley (pictured), head of reward, benefits and policy at Wolseley UK, will discuss how ...
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ArticleMorrisons consults on closure of DB pension schemes
Morrisons is to consult with staff on the closure of its defined benefit (DB) pension schemes.The retailer’s proposed changes would mean that members of its career average revalued earnings (Care) schemes would stop building up benefits through that scheme. Benefits already accrued by staff will remain in the scheme until ...
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ArticleDWP publishes pot follows members update
The Department for Work and Pensions (DWP) has published more details on its plans to introduce automatic transfers of small pots when pension scheme members move jobs.Its Automatic transfers: A framework for consolidating pension savings report includes how the government will role out the programme and which schemes are in ...
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Article76% of employers notice pensions auto-enrolment admin burden
More than three-quarters (76%) of staged employers are now noticing an administrative burden caused by the impact of pensions auto-enrolment, according to research by Close Brothers Asset Management. Its latest Business barometer survey, which surveyed more than 400 UK employers, found that this is an increase of 7% since September ...
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ArticleTennants Consolidated reviews pensions administration
Tennants Consolidated has reviewed its pensions administration to boost the value of services for its members of its defined benefit (DB) and defined contribution (DC) pension schemes. The chemicals distribution and wholesale organisation’s pension schemes has more than 1,200 members and approximately £130 million of assets.The Tennants Pension Trustees wanted ...
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ArticlePenguin Random House boosts flex perks
EXCLUSIVE: Penguin Random House is to introduce a number of new flexible benefits during its next annual enrolment window to boost its current offering for employees. The publisher will introduce salary sacrifice home technology purchasing for tablets and mobile phones, a will writing service, skin screening clinics and a financial ...
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ArticleABP Food Group cuts costs by revamping HR and pay systems
ABP Food Group has achieved annual cost savings of £150,000 by centralising its HR and payroll processes as part of its compliance with pensions auto-enrolment.The beef processing firm implemented a new system, provided by Advanced Business Solutions.ABP’s previous infrastructure was no longer suitable because all of its 16 sites used ...
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ArticleManchester Airports prepares for pension flexibilities
Manchester Airports Group has updated its defined contribution (DC) pensions administration to address the ongoing freedom and choice pension reforms. The organisation will now offer member administration and member technology services to engage employees with the new pension changes, which come into force in April 2015.The programme will also include ...
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ArticleNAPF updates corporate governance policy
The National Association of Pension Funds (NAPF) has updated its corporate governance policy and voting guidelines, which aim to assist its members in promoting the success of the organisations in which they invest, and ensuring the board and management of these organisations are held accountable to shareholders.The guidelines have been ...
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Article31% have not heard of pension charge cap
Nearly a third (31%) of respondents have not heard of the pensions charge cap that will come into force in April 2015 or have not been informed of this by their provider or adviser, according to research by Close Brothers Asset Management.Its Business barometer survey, which questioned more than 900 ...
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ArticleZurich proposes closing DB pension to future accrual
Zurich is proposing to overhaul pension and reward arrangements for all of its UK employees, which may include closing the defined benefit (DB) section of its pension scheme to future accrual in 2015. The proposed changes, which would affect 7,200 employees, aim to help safeguard Zurich’s long-term future as a ...
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Buyer's guide to group personal pensions
Under a group personal pension (GPP), an employer agrees to make monthly contributions into the scheme, but the contract is between the employee and the pension provider. Currently, a GPP ends when the member retires and buys an annuity with the proceeds, so there is no obligation on the employer ...
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ArticleThe Pensions Regulator issues first auto-enrolment fines
The Pensions Regulator (TPR) has issued its first fines to employers for failing to meet auto-enrolment duties.It has issued three fixed penalty notices were issued, each levying fines of £400 on employers, according to the TPR’s latest automatic-enrolment Compliance and enforcement bulletin.TPR has not revealed details of the nature of ...
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ArticleHyde Group to add new perks to flexible benefits
EXCLUSIVE: The Hyde Group is to introduce a number of new flexible benefits during its next annual enrolment window to reflect staff preferences.Following feedback from employee surveys, the organisation will introduce dental insurance, an individual savings account (Isa), critical illness cover and salary sacrifice arrangements for mobile phone and technology, ...