All articles by Nicola Sullivan – Page 27
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Case Studies
Case study: FirstGroup focuses on age for pension investment strategy
?FirstGroup has designed the investment strategy for its contract-based defined contribution (DC) pension schemes to take account of an employee’s age and appetite for risk.The transport operator, which runs two contact-based DC plans in the UK, has devised a series of investment options based on these criteria and has created ...
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Article
Danish pension provider ATP to launch an alternative to Nest
Danish pension provider ATP will challenge the national employment savings trust (Nest) by launching a pension that is targeted at low to middle income earners.Former Conservative shadow pensions minister Nigel Waterson will be working with ATP ahead of the scheme's launch but it has not been confirmed whether he will ...
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Article
Lorry drivers take their families along for the ride
One of the biggest drawbacks of going to work is that it gets in the way of other things, whether that be watching an entire series of Mad Men in one sitting or spending time with loved ones.A fleet of long-distance lorry drivers, however, has been able to achieve a ...
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Article
Scottish Life changes investment strategy for pension fund
Scottish Life has changed its investment strategy for the Scottish Life Europe Specialist Pension Fund as part of its commitment to provide effective governance.The underlying investment of the provider's pension will now be based on Neptune European Opportunities Fund instead of Artemis European Growth. Lorna Blyth, investment marketing manager at ...
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Article
Honda Group enters in £7 million pension buyout
The trustees of the Honda Group UK Pension Scheme have entered into a pension insurance buyout agreement with the Pension Insurance Corporation.The deal will insure the £7 million Honda Racing Development portion of the £700 million scheme, which covers both deferred and current pensioners. This part of the scheme was ...
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Article
PWC extends childcare voucher incentives to fathers
Accountancy firm PricewaterhouseCoopers (PWC) is to extend its provision of childcare vouchers to fathers who return to work after exercising their new legal right to take more than 12 weeks of paternity leave.The firm already offers mothers returning from maternity leave an extra 20% of their base pay in childcare ...
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Article
Aviva launches online total reward statements service
Aviva has launched online total reward statements to run alongside its group personal pension products to emphasise to employees all benefits provided by their employer.The statements will include details of an employee’s entire benefits package, including salary, bonus, pension, private medical insurance, health screening, life and critical illness insurance, car ...
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Article
Indonesian MPs hold collection to boost president's pay
Politicians often boast how in touch they are with the experience of the common people and despite their manyprivileges they are capable of moaning about pay like the rest of us.This seems to be the case with Indonesian president Susilo Bambang Yudhoyono whose complaints about not receiving a pay rise ...
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Article
Employers not prioritising pension changes ahead of 2012
Two-thirds (60%) of UK organisations do not see making changes to their defined contribution (DC) scheme as a priority in 2011, despite the proposed introduction of automatic enrolment in 2012.According to new research by consultancy Aon Hewitt, a quarter of employers (23%) have yet to consider the implications at all, ...
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Article
Barclays set to overhaul pay
It has been reported that Barclays is planning a radical overhaul of pay as part of a strategic review.Reports from the BBC and the Financial Times said the bank is looking at using convertible bonds, known as CoCos, to pay a large proportion of the bonuses for more than 1,000 ...
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Article
UBS to change prescriptive dress code
News that financial services firm UBS is reducing its 44-page dress code, which stipulates what colour lingerie and stockings are acceptable for female retail employees, illustrates that the submissive perfection of the Stepford wife is unlikely to be adopted by working women.The existing code, which applies to retail employees based ...
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Article
Private sector staff to receive higher bonuses
The private sector employees will receive higher bonus payments this year, according to research by Incomes Data Services (IDS).The IDS Managers Benchmark Pay Report showed more than three times as many private sector firms are expecting to pay higher bonuses in 2011 compared to those who believe they will pay ...
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Article
Most employees do not expect to save enough to retire comfortably
More than half of workers (58%) in the UK believe they will fail to achieve the minimum income necessary to have a comfortable retirement, according to research commissioned by Shilling Communication.The survey Shilling Communication: Pension snapshot, carried out by YouGov, found that 53% of respondents under 30 saw saving as ...
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Article
Employers sustain benefits despite economic climate
Despite difficult economic conditions, 84% of employers believe the value of their benefits package has been maintained over the past 12 months, according to research conducted by industry body Group Risk Development (Grid).The survey of 500 employers also showed 37% are considering increasing their investment in benefits this year, but ...
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Article
Super Trust UK appoints Pitmans Trustees
Multi-employer defined contribution (DC) pension provider Super Trust UK Master Trust has appointed Pitmans Trustees to act as an independent trustee for the scheme, which has around 14 participating employers and assets of around £14 million.Richard Butcher, managing director of Pitmans Trustees, said: "Given the increasing profile and popularity of ...
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Article
Alltrust partners with Bupa International in China
Chinese insurer Alltrust has formed a partnership with expatriate health insurer Bupa International.From 27 January 2011, Alltrust will offer a range of health insurance products for expatriates working in China, which will be administered by Bupa International. Henry Du, chairman of Alltrust, said:“Our partnership concludes a rigorous search for the ...
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Article
National Grid workers vote to strike over pay
Workers at National Grid have voted for industrial action after a dispute over three-year below inflation pay offer.The deal, which consisted of a pay rise of 2.5% in year one and a 2.25% increases in years two and three, was rejected by members of union Unite. Talks over employees' pay ...
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Article
Staff at Fenland District Council set to declare office romances in writing
Dear Sir,I'm writing to notify you that I am romantically attached to Ken - the tall ripped guy with amazing arm muscles (who also has a sensitive side) and works in IT.I can assure you that, although we work together, we will not let our animal attraction (or love of ...
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Article
MPs approve legislation to privatise Royal Mail and give staff 10% of shares
Legislation to privatise the Royal Mail and give 10% of shares to employees has been given the green light by MPs.The Postal Services Bill, which outlines the largest employee share scheme of any privatisation, will now be considered by the House of Lords after being approved by the House of ...
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Article
Employees fail to understand all pension terms
Many people do not understand language and terms relating to pensions, according to research commissioned by the national employment savings Trust (Nest).Of the 1,967 respondents to the survey, conducted by YouGov, just 10% said they completely understood the term open market option, while only 23% said they were fully clued ...