All articles by Nicola Sullivan – Page 13
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High Pay Commission report: Tackling high pay is in the public interest
Executive pay should be radically simplified to halt spiralling high pay creating inequalities last seen in the Victorian era, according a report from the High Pay Commission.The report, Cheques and balances: Why tackling high pay is in the national interest, was released on 22 November after a year-long inquiry. It ...
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Essex County Council appoints adviser for DB pension scheme
Essex County Council has appointed Barnett Waddingham to advise on its defined benefit (DB) pension scheme.The local authority administers a pension scheme for staff employed by all the councils in Essex. The DB scheme has 43,728 active members and a fund valued at £3.1 billion as of March 2010.Graeme Muir, ...
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London's best dressed banker wins posh clobber
Best-dressed employee competitions might be a good way for employers to show their workforce they are on trend and know how to have a bit of fun.In some instances, however, such competitions may reinforce perceptions of cultural stereotypes associated with some industries and highlight employees’ assets in ways they might ...
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TUC research: Public sector pension reforms will hit the lower paid
Government assurances that changes to public sector pensions will not hit low-paid public sector workers earning less than £15,000 a year are misleading, according to research from the Trades Union Congress (TUC).More than 750,000 public sector employees are earning less than this, the overwhelming majority of whom are women, will ...
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Servisair employees get bonus for identifying excess baggage
Servisair employees working at John Lennon airport in Liverpool are being offered a bonus for every Ryanair passenger they catch with excess baggage. Staff working for baggage handler Servisair are reportedly given a bonus for every bag they flag as too heavy, but are only eligible for the payment once ...
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CIPD research: Reward professionals are concerned about reward risks
The majority (78%) of reward professionals continue to be concerned about their organisation's ability to manage reward risks, according to research conducted by the Chartered Institute of Personnel and Development (CIPD).In particular, employers are concerned about achieving the balance between affordability and the need to offer competitive reward packages, as ...
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Hays research: Employees concerned about pay and benefits offered by SMEs
Small organisations may be losing out on the most talented employees due to concerns among jobseekers around pay and benefits, according to research by Hays.Almost half (49%) of those surveyed believe salaries are not as competitive as at larger organisations, and over half (55%) believe smaller businesses are not able ...
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Hymans Robertson research: 2011 set to be record year for pension scheme risk transfer deals
This year looks set to be a record year for pension scheme buy-ins, buy-outs and longevity swaps, according to research conducted by Hymans Robertson.The Managing Pension Scheme Risk Report Q3 2011 found that the third quarter of 2011 saw over £2 billion of risk transfer deals completed, comprising buy-ins, buy-outs ...
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York Dungeon hands out free deodorant to help staff deal with smelly visitors
Deodorant has become an important health and wellbeing benefit for staff at York Dungeon.Employees were given the antiperspirants to hand out to visitors after actors, performing horror shows at the venue, complained that the smell of fear coming from their audiences was overwhelming.Free deodorant would have been a good perk ...
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Lorica launches online portal for auto-enrolment
Lorica Employee Benefits has partnered with Staffcare to launch an online portal to assist employers to auto-enrol staff into workplace pensions from 2012.The portal, called Simplicity3, can be linked to any pension scheme provider. It will manage administration of the entire process, ensuring that each employee is opted in or ...
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Headteachers' union backs strike over public sector pensions
Headteachers have voted for industrial action in response to the government’s plans for public sector pensions.More than three-quarters (76%) of the National Association of Head Teachers (NAHT) that took part in a ballot on 9 November voted in favour of strike action.It is the first time in the union’s 114-year ...
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Aegon UK set to close final salary scheme to future accrual
Aegon UK is planning to close its own employee defined benefit (DB) pension scheme to future accrual on 31 March 2013 and remove the link to final salary for calculating pension entitlement from that date.The changes, which are due to be consulted on with employees and unions, are part of ...
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ComRes research: City workers believe their colleagues are overpaid
Employees in the financial services sector believe that City bond traders, FTSE 100 chief executives and stock brokers are paid too much, according to a survey conducted to mark the 25th anniversary of the ‘Big Bang’ of financial deregulation.The report Value and values: Perceptions of ethics in the City today, ...
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Oracle is awarded Pensions Quality Mark
Oracle has been awarded the National Association of Pension Fund's (NAPF) Pensions Quality Mark (PQM) for its new group personal pension.The mypension@oracle scheme, which was installed and communicated by Secondsight in November 2010 through to March 2011 to Oracle's 4,700 UK employees, has been identified as one of the leading ...
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Alexander Forbes research: Annuity rates fall across the board
Annuity rates are falling across the board, according to the latest figures from Alexander Forbes Annuity Bureau.This month saw across-the-board falls in male single life annuities as providers again cut their rates. Table topper Aviva reduced its rate by £90 to £5,720 per annum, while second placed Canada Life cut ...
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Christmas party organised for one-man bands
Raucous and fun Christmas parties certainly subscribe to the theory the ‘more the merrier’.After all, it can't be much fun for a one-man start-up sitting alone in a pub with no one to pull a cracker with except the bartender.However, help is at hand for small firms and one-man bands ...
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Polestar Group to wind up pension scheme
Polestar Group will wind up its pension scheme following approval from The Pensions Regulator (TPR).TPR concluded that full funding of the scheme over any reasonable period was unlikely and that the scheme should be wound up in the interests of its members and the Pension Protection Fund (PPF).After receiving professional ...
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Mövenpick Hotels and Resorts rewards staff with trip to Switzerland
Mˆvenpick Hotels and Resorts has flown a group of employees to Switzerland for an all-expenses-paid four-day trip.The international firm rewards high-performing employees from Asia, Africa and the Middle East with a trip every year to recognise their contribution to the business.During the trip, the group of 45 employees visited the ...
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NHS organisations to offer total reward statements
A number of NHS organisations will begin providing total reward statements in 2012, as part of efforts to get staff to understand the full value of their benefits package during a time of pay restraints, pensions reforms and a diversifying labour market.The reward statements will outline pensions, pay and the ...
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DHL to overhaul default fund for DC pension scheme
EXCLUSIVE: ?DHL is overhauling the default fund for members of its trust-based defined contribution (DC) pension schemes as part of efforts to reduce risk and achieve better returns for medium earners.But its changes to the default fund, which would limit its exposure to equities, have stalled because of the latest ...