All articles by Nicola Sullivan – Page 26
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Article
Ortus research: HR professionals' incomes rose in 2010
The incomes of HR professionals’ rose by 12% in last year, according to research by HR recruiter Ortus.The increases were fuelled by higher-than-expected bonus payments with £9,800 paid in bonuses for every HR worker in the city and the south-east. Ortus' survey of almost 900 HR professionals also showed the ...
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Article
Employees waste time at work
Most employees are guilty of wasting time at work, whether they take a few minutes out to trawl Wikipedia in order to prove their colleague wrong about the ingredients found in haggis or remind themselves of all actors cast in the 80s film Lost Boys.Less information-hungry employees may just simply ...
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Article
Maplecroft research: Pension promises will put pressure on the UK
The UK is one of the European countries that is most exposed to fiscal risk due to the pension and health pledges to its ageing population, according to statistics released by Maplecroft.The mapping firm's Fiscal Risk Index - a ranking of 163 countries - showed that the UK, France, Germany, ...
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Article
Deferred bonuses not subject to new tax avoidance rules
HM Revenue and Customs (HMRC) has confirmed that legitimate deferred bonus schemes will not be subject to its new tax avoidance rules.The Finance Bill, published in December, introduced legislation to tackle arrangements that use employee benefits trusts that seek to avoid, defer or reduce tax liabilities. The legislation will ensure ...
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Article
O2 staff vote to increase pension contributions to save final salary scheme
Members of O2's final salary pension scheme have voted to increase their contributions to prevent it from closing.A ballot of employees belonging to the Communication Workers Union (CWU) saw 94% backing proposals which would enable them to retain their final salary pension scheme.A 60-day consultation exercise will now begin, allowing ...
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Article
Russian custom officials broadcast lavish lifestyle on YouTube
In Russia, where luxury imports like cars and wine are notoriously expensive, a mock rap video made by custom officials celebrating the lavish lifestyle that comes with their government jobs has raised some eyebrows.The video posted on YouTube, which shows champagne-quaffing officials surrounded by scantily clad women and driving around ...
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Article
Mercer research: Cost of providing health benefits increases
The cost of providing healthcare and health-related benefits to employees in Europe rose by 3.3% in 2010, a sharper increase in many economies than was seen in salaries and general inflation.According to Mercer's 2010 pan-European survey on employer health benefits, which received responses from 556 employers, companies in the UK ...
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Article
Managers in the financial services sector expect bigger salaries
Nearly two-thirds of financial services managers expect salary offers to rise in 2011, while only a quarter predict higher bonus payouts.According to Morgan McKinley's survey of 200 HR and line managers working across financial services in London, 62% expect basic salary offers to increase in 2011, with 55% expecting the ...
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Article
Freshfields changes holiday year
Freshfields Bruckhaus Deringer has changed its holiday year as part of its efforts to ensure it has the highest numbers of employees working during its busiest periods.The law firm has changed the holiday year from July 1 to June 31 to February 1 to January 31 the following year, which ...
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Article
Barclays increased salaries but reduced bonuses for 2010
Banking giant Barclays has increased salaries for employees but reduced bonuses despite pre-tax profits rising by 32% to £6.1 billion in 2010.Its financial results for the 12 months to 31 December 2010 showed performance awards at a group level in 2010 were down 7% on 2009. Meanwhile such awards for ...
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Article
Dark haired employees on island resort to be given blonde wigs
It would appear that sex discrimination and gender equality laws have failed to reach a man-made island that is shaped like a high-heeled shoe in the Maldives.Lithuanian firm Oilalia wants to staff the planned luxury resort on the island with only blonde women.But Maldivian laws state that at least 50% ...
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Article
Nest to recruit employers to sit on panel
Nest Corporation has started the recruitment process for members to sit on its employer and member panelsThe member panel will play a role in representing view of members of the national employment savings trust (Nest) and future scheme members to the trustee. Meanwhile, the employer panel will provide a communication ...
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Article
Thomas Cook readjusts targets for long-term incentive plan
Thomas Cook has readjusted targets for its three-year long-term incentive plan.Thomas Cook adjusted the targets of its three-year bonus package, which started in 2007 for the travel firm's most senior staff, as a result of the volcanic ash cloud, which caused major disruption for travel operators.In its latest annual report ...
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Article
McDonald’s team working on strategy for pension changes
?McDonald’s has created a dedicated team to develop its strategy for the 2012 pension reforms and has looked at ways to mitigate the impact of changes in pensions tax for high earners.The fast-food chain is arranging company-funded sessions with consultancy Towers Watson for the 17 members of its executive team ...
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Article
Capital One has free gym
Capital One has built an onsite gym as part of its commitment to address staff health and wellbeing.Since the free gym – on the ground floor of the credit card company’s Nottingham head office – opened in January, about 60% of its staff have been inducted. On the launch day, ...
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Article
Live Nation harmonises pensions after merger
Live Nation Entertainment has harmonised pensions for its UK staff following its merger with Ticketmaster Entertainment last April.The entertainment and concert promoter has used its larger 1,500-strong workforce to renegotiate better deals with its providers.Previously, Ticketmaster had three group personal pension (GPP) schemes and Live Nation had one, provided by ...
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Analysis
Retirement savings: Choosing a fund manager
If you read nothing else, read this... Most fund managers specialise in one particular asset class. A fund manager’s risk profile is particularly important for employers trying to minimise the volatility of pension investments. An intermediary or consultant can help employers and trustees identify a manager that best suits the ...
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Analysis
Retirement savings: Investment choices
If you read nothing else, read this... Risk is an important factor to consider when designing an investment strategy for contract-based DC pension schemes. Employers should think carefully about how they will structure their contractbased DC scheme’s default fund because this is where the majority of members will end up. ...
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Case Studies
Case study: Many assets classes reduce pension fund risk for Towry
Towry focused on the diversification of asset classes when designing the investment strategy for its group personal pension (GPP) scheme. After switching its pension provider from Axa to Zurich in 2009, the financial advice firm was able to offer its own funds to scheme members. This means staff can access ...
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Analysis
Update on annuities
If you read nothing else, read this... The government is removing the requirement to select an annuity by the age of 75. Pension schemes are legally required to offer the open market option, but many employees do not exercise theirright to shop around for the best deal. Variable annuity products ...