All articles by Nicola Sullivan – Page 14
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Case Studies
Case study: Towry takes PMI out of flexible benefits
In April, financial services firm Towry removed private medical insurance (PMI) and travel insurance from its flexible benefits scheme after rising premiums, which were paid for by staff using their flex allowance, made it no longer viable.†Richard Higginson, head of reward at Towry, says the benefit, which was taken up ...
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Article
BDR Thermea expands its fleet
BDR Thermea has expanded its fleet under a new three-year contract with Leasedrive.The new contract, covering 550 cars and vans, is for three years with an option for BDR Thermea to extend it for a further two years.Janey McDonald, UK indirect procurement manager at BDR Thermea, said: “When we went ...
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Article
Arqiva extends fleet contract
Arqiva has extended its car rental agreement for a further two years.The agreement is through the rental management division of the Leasedrive Group.It is important for the communications infrastructure and media services organisation, which has sites in the islands around Scotland and the Channel Islands, to have extensive fleet coverage ...
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Analysis
Health cash plans add value
If you read nothing else, read this…Cash plan providers allow employers to tailor their plans according to the healthcare needs of their workforce.Some providers merge optical and dental benefits, allowing employees access to spend more of the cash back on the service they use most.Sharing a cash plan with a ...
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Article
EXCLUSIVE: BT rolls out share plan portal internationally
BT is to roll out its employee share plans portal internationally to around 86 countries to further reinforce its corporate identity.Next year, the firm, which launched the online portal in May 2011 for 75,000 UK staff, will roll it out globally to countries including the US, Mexico, France, the Netherlands, ...
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Article
EXCLUSIVE: FirstGroup to use DB and DC plans in 2012 pension reforms
?First Group has agreed a strategy with trade unions to comply with the 2012 pension reforms by using both its defined benefit (DB) scheme and a new trust-based defined contribution (DC) plan.The last tranche of new members will be able to join the transport operator’s DB pension next April. At ...
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Article
University of Lincoln staff take part in walking challenge
The majority (81%) of employees at the University of Lincoln that took part in a walking challenge reported an improvement in their overall health and 44% said they had an increased ability to handle stress.The activity, organised in conjunction with Global Corporate Challenge, saw participating employees kitted out with pedometers, ...
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Article
News analysis: Easing causes unease
Quantitative easing may be an attempt to stimulate the UK economy, but it does no favours to occupational pension schemes, says Nicola SullivanThe Bank of England’s move to inject £75 billion into the economy through quantitative easing (QE) has a number of implications for occupational pension schemes. It is predicted ...
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Article
Healthcare RM acquires Worcester Physiotherapy Centre
Occupational health provider Healthcare RM has acquired the Worcester Physiotherapy Centre as part of efforts to tackle musculoskeletal problems that lead to absence in the workplace.Of the referrals the provider deals with for employers, 40% relate to musculoskeletal problems.The acquisition will allow employees to have access to treatment that is ...
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Article
EXCLUSIVE: TUI Travel’s focus on sickness absence pays off
TUI Travel has achieved up to a threefold return on investment in its occupational health benefits during a 12-month period.The firm committed to spend over £150,000 on tackling sickness absence by maximising its existing provision and adding new benefits when it began integrating its healthcare benefits in October 2010.It appointed ...
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Analysis
Carlsberg UK wants a healthy workforce
The continuing economic uncertainty has not been good news for the beer industry despite the popular belief that many people still like a drink when times are tough. This year, Carlsberg UK closed its 186-year-old Tetley brewery in Leeds, which resulted in more than 150 redundancies. The Danish firm said ...
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Analysis
How to cope with the rising costs of healthcare benefits
If you read nothing else, read this... The health of the workforce is more important than ever because people are working longer and older workers have a greater chance of being affected by a long-term health condition. Wellness schemes are a good way of keeping employees healthy and can help ...
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Case Studies
Case study: Prevention pays off for Legal and General in sickness absence
Legal and General reduced its sickness absence levels by 15%, saving almost £70,000, after piloting a preventativehealth programme for six months. Between November 2010 and April 2011, the insurer’s sickness absence rates were 15% lower across a pilot group of 1,000 staff, compared with the same period in 2009/10, and ...
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Article
Bank of England official argues that bankers' pay should be linked to return on assets
An official at the Bank of England has argued that banks should link the pay of senior executives to return on assets (ROA) instead of return on equity (ROE).During the Wincott Annual Memorial Lecture in London on 24 October, Andy Haldane, the Bank of England’s executive director for financial stability, ...
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Article
NAPF conference: Pension reforms will create further level of pension provision
The 2012 pension reforms will create a further tier in occupational pension provision, according to Nick Walker, pensions officer at the Union of Shop, Distributive and Allied Workers (USDAW).Addressing delegates attending the National Association of Pension Fund’s (NAPF) annual conference in Manchester, Walker said that employers would hang on to ...
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Article
Taxman urges employers not to refer to employees as 'unknowns'
Employers are clearly not as in touch with their workforce as they claim to be as data sent to HM Revenue and Customs shows.In 2009/10, more than 500 PAYE forms incorrectly claimed to employ A N Other, 128 staff were entered as Mr, Ms or Mrs Dummy, and 40 employees ...
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Article
Inflation rises will see pensions increase next year
Many members of final salary pension schemes can expect to see their pensions increase by around 5% next year after it was announced that both the consumer prices index (CPI) and the retail prices index (RPI) topped this level.The CPI measure of inflation for September stood at 5.2%, up from ...
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Article
Axa asks members of final salary scheme to give up higher pension increases
Pensions provider Axa is offering retired members of its final salary pension scheme the chance to take part in a pension increase exchange.Pensioners that participate will agree to take a higher pension now in return for lower increases in the future. Axa has confirmed that affected members will have free ...
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Article
Metlife Assurance research: Four out of five employees would welcome advice on pensions
More than four out of five employees would welcome advice on pensions in the workplace, according to research by Metlife Assurance.The pensions risk transfer provider’s nationwide survey showed that, when given the option of receiving pensions advice from either their employer, an independent financial advisor (Ifa) or a government-sponsored approach, ...
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Article
Telemetry challenges staff to abseil down its office building
Employers are constantly thinking up ways to get their staff to achieve new heights. But few are as adventurous as Telemetry, which is challenging its employees to abseil down the side of its skyscraper office building.The online video provider, which occupies the 39th floor of Tower 42 in London, considers ...