All articles by Nicola Sullivan – Page 31
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Shepherds Bush Housing Group targets DC pension scheme at lower earners
The Shepherds Bush Housing Group has introduced a new trust-based defined contribution (DC) pension scheme as part of its efforts to make saving for retirement easier for staff on lower incomes.From last month, new joiners can choose to join the DC plan or the 80th career average revalued earnings (Care) ...
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Toyota Tsusho to educate staff on pension changes
Toyota Tsusho UK is to introduce financial education sessions to show its employees how their pension is performing after introducing a new pension scheme and switching providers.The resources trading firm introduced a group personal pension (GPP) plan, provided by Aegon, in June after closing its previous defined contribution (DC) scheme ...
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Mozolowski and Murray extends health cash plan cover
Conservatory designer Mozolowski and Murray has extended the coverage of its employer-funded health cash plans for staff.The firm, which introduced cash plans for staff two years ago, has upgraded its offering to include larger cash payments for medical treatments and a greater range of procedures.From last month, employees have access ...
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Interserve Project Services introduces carbon reporting tool
Interserve Project Services (IPS) has introduced a carbon reporting tool for its 1,200 drivers as part of efforts to cut its total fleet CO2 emissions by around 5% a year.The tool, recently launched by mileage and fuel cost management firm TMC, is designed to deliver a 23% cut in annual ...
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Santander launches benefits for working parents
Santander has increased its maternity and paternity leave for employees as part of a package of benefits designed to cater for the needs of working parents.The bank's package Passport to Parenting will provide most employees 14 weeks maternity pay followed by 25 weeks' statutory pay. Fathers-to-be will also be entitled ...
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Nationwide adds health and risk perks to flexible benefits scheme
Nationwide Building Society has added a number of new healthcare and group risk benefits to its flexible benefits scheme and has extended the coverage of some of its existing perks.The bank, which has more than 16,000 staff, has added income protection, critical illness insurance, private medical insurance, wellness assessments, life ...
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Employers receive wild excuses for absence from work
Employees who have ever had the nerve to hold their nose to sound stuffed up with cold or fake a cough while ringing in ‘sick’ will be shocked at the courage and creativity of fellow skivers in the US.A nationwide poll, conducted Harris Interactive, in the US found 30% of ...
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Canada Life adds bereavement counselling to group life perks
Canada Life has added a bereavement counselling service and a probate helpline to its group life schemes.The support services are available for unlimited use and can be used by employees' dependants and close relatives if they suffer a bereavement. Those that call the helpline can speak to a qualified counsellor ...
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Government presses ahead with Nest and auto-enrolment
The government has confirmed it will press ahead with auto-enrolment and retain the national employment savings trust (Nest).In its completion of its review Making auto-enrolment work, the Department of Work and Pensions (DWP) said employees earning more than the personal income tax allowance of £7,475 will be automatically enrolled into ...
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National Trust appoints Punter Southall for pension consulting services
The National Trust has appointed Punter Southall to provide consulting services for its defined contribution (DC) pension scheme.A key part of the project will involve looking at ways to integrate full-time employees who not already in a pension scheme, as well as arrangements for additional seasonal workers.Judith Alborough, assistant director ...
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Court ruling protects BT's pension benefits
The High Court has ruled the government will take responsibility for BT's pension scheme in the event of the company going bust.The long-awaited verdict clarifies uncertainty around a guarantee, put in place when the firm was privatised, that the government would step in and provide protection for members of the ...
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Ukuleles help City workers beat stress
Making music with a miniature instrument is not the most obvious way for suited bankers to escape the pressures of the trading floor.However, for some City workers, playing the ukulele is the ultimate way of beating stress and improving wellbeing. It has been reported that since high profile business men ...
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Government to consult on remuneration tax for bankers
The government will consult on the viability of a financial activities tax on profits and remuneration in the financial services sector.Financial Secretary to the Treasury, Mark Hoban MP said that disclosure on remuneration practices will be scrutinised. The measures were reiterated in an announcement today clarifying details on a bank ...
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CSR: State pension age to rise to 66 by 2020
The government will save £5 billion a year by increasing the state pension age for both men and women to 66 by 2020.The move announced by Chancellor George Osborne in today's comprehensive spending review will free up cash to create a more generous state pension.Currently the female state pension age ...
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Goldman Sachs cuts back on bankers' compensation
Investment bank Goldman Sachs has set aside $13.1bn (£8.3bn) for pay and bonuses for the first nine months of 2010.The remuneration pot is 21% smaller than last year when $16.71bn was ear marked for employees' compensation and benefits.The fall in compensation expenditure comes at a time when the bank announced ...
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Most industrial disputes relate to pay and benefits
More than three quarters of employers are in favour of changing the law to introduce a minimum threshold for industrial action with 47% saying their most recent dispute related to pay and benefits, according to research by DLA Piper.Its survey of 507 employers also showed 13% said their last bout ...
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Employers fear the removal of the default retirement age will increase legal claims
Nearly half of employers (48%) are concerned the removal of the default retirement age in April will lead to an increase in age-related legal claims, according to research conducted by the Confederation of British Industry (CBI) and recruitment firm Harvey Nash.The Gearing up for growth survey of 330 UK employers ...
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Queen cancels Christmas party for staff
It is not often that the pomp and circumstance surrounding the royal household is tampered with to save cash.Members of the royal staff, however, will be disappointed to hear the Queen has cancelled their Christmas bash this year.Buckingham Palace told the Financial Times that the royal household was “acutely aware ...
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Treasury cuts annual allowance to £50,000
The Treasury has confirmed the annual allowance for tax-privileged pension saving will be cut from £255,000 to £50,000.Mark Hoban, financial secretary to the Treasury, also announced the lifetime allowance will be slashed from £1.8 million to £1.5 billion.The move, designed to raise £4 billion per annum to reduce the record ...
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SPC research; Early access to pensions would boost the economy
Around £65 billion could be injected into the economy if employees were granted early access to tax free pensions cash sums from the age of 50, according to a study conducted by The Society of Pension Consultants (SPC).The research also highlighted that a further a £2 billion a year could ...