All articles by Nicola Sullivan – Page 33
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Article
Falls in corporate bond yields increases pension scheme liabilities
The accounting measures of the liabilities of defined benefit (DB) schemes in most developed economies have seen marked increases in liabilities due to declining corporate bond yields, according to research by Mercer.The consultancy's research found equity values in most countries with developed financial markets have been volatile throughout 2010, although ...
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Article
Europe faces colossal pensions gap
Employees in Europe face a seriously reduced standard of living once they retire unless they increase their pension savings, according to Aviva's research Mind the gap - Qualifying the pensions gap in Europe.In its assessment of the £1.6 trillion gap between the savings that people retiring in 27 EU member ...
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Romanian fortune tellers given income tax reprieve
Superstition appears to have influenced fiscal policy in Romania where politicians have dropped plans to tax fortunetellers and witches amid fears they will be cursed.The country’s senate rejected a law drafted by officials that demanded tax from psychics and outlined measures to ensure they were held liable for flawed predictions.According ...
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Pay frozen for more than half of FTSE 350 executive directors
More than half of FTSE 350 companies will not increase the salaries of executive directors in 2010, resulting in a two-year pay freeze for many executives.According to the Executive directors' remuneration report by business advisory firm Deloitte, two-thirds of executives were not awarded a pay rise in 2009. Salary increases, ...
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Female breadwinners are more likely to get divorced
Today’s workplaces are a far cry from the misogynist and smoked-filled offices of the notorious ad agency where Donald Draper resides in the television series Mad Men.However, some of the attitudes harboured by the slick-haired male professionals of the 1960s still exist.New research conducted by Western Washington University suggests women ...
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PricewaterhouseCoopers to axe two final salary schemes
The UK arm of PricewaterhouseCoopers (PWC)will be closing two final salary schemes in a move thought to affect 1,100 employees.The accountancy firm confirmed that the schemes, which have already been closed to new joiners, are being closed to future accrual because of the 'challenging commercial reality of funding.' PWC are ...
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Article
Sharing rooms on work trips can be beneficial
As foreign secretary William Hague runs in to difficulties after sharing hotel rooms with a young male aide, cost-conscious employers may be revaluating the pros and cons of allowing staff to ‘double-up’ on work trips.Employers who are happy to let staff share, however, should not make any rash decisions on ...
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Article
Changes to annual allowance will result in lack of faith in pensions
The majority of employers, trustees and high earners prefer the government's plans to changing the annual allowance instead of reducing pensions tax relief for higher rate taxpayers but many fear the move will lead to a lack of faith in pensions.Of the 100 respondents to research conducted by Punter Southall, ...
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Article
Pepsico peps up its perks
Pepsico UK and Ireland has introduced total reward statements, switched flexible benefits providers and plans to introduce new perks relevant to its next generation of staff.The firm, whose brands include Walkers, Tropicana and Quakers, changed its flex provider from Mercer to Vebnet and issued statements detailing the value of employees' ...
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Black and Veatch shakes up flexible benefits scheme
Global engineering, consulting and construction company Black and Veatch is considering reviewing the vendors that provide perks for its flexible benefits scheme in a bid to improve service levels and administration.The firm wants to shop around after its staff and HR department reported problems with administration, payment of invoices, communication, ...
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Article
Credit Suisse to award one-off bonus to managing directors
Credit Suisse is to reward several hundred managing directors in the UK with a discretionary one-off bonus payment as part of its efforts to remain competitive.The investment bank confirmed the cash payment will be deferred over three years and is linked to its financial performance. This also means the payments ...
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Cable and Wireless Worldwide signals salary sacrifice car scheme
Cable and Wireless Worldwide has launched an environmentally friendly salary sacrifice car scheme for its 5,500 UK-based employees.Since the plan was launched at the beginning of August, 1,000 staff have registered to take part. Through the plan, drivers can choose from a range of low-emission brands such as BMW, Mini, ...
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Analysis
Job evaluations lead to fairer reward
If you read nothing else, read this…Organisations that establish a pay grading structure based on job evaluations could reduce the total cost of their pay bill by between 3% and 10%.Job evaluations could help employers address equal pay in the workplace.Employers that link job evaluations with reward can ensure that ...
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Article
Pinch enters perks market
New employee benefits provider Pinch is to offer reward and recognition services, benefits products and analysis of management data.It will offer voluntary and flex schemes, total reward statements, retail discounts and tax-efficient perks.Bruce Rayner, co-founder of Pinch, said it will also focus on getting the right benefits messages to relevant ...
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Simplyhealth research: Employers target staff health and wellbeing
Almost four in five organisations believe they have a responsibility to contribute to society, which is reflected in their benefits.Of the 257 HR respondents to Simplyhealth's Bothered Britain report, in conjunction with Opinion Matters, 75% believe it is important to address all aspects of staff health and wellbeing.Although 37% of ...
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Analysis
Flexible benefits: Interview with Stephen Bevan of The Work Foundation
Flex is here to stay, but must remain relevant to employers’ and employees’ needs, The Work Foundation’s managing director Stephen Bevan tells Nicola SullivanIn 20 years’ time, flexible benefits schemes will still be a key feature of the HR landscape, says Stephen Bevan, managing director of The Work Foundation.As part ...
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Norfolk County Council changes employee assistance programme provider
Norfolk County Council has switched employee assistance programme (EAP) providers in a bid to change staff perception that the benefit should be used only at times of crisis.Since it retendered providers and selected the Validium Group, almost one in 10 staff have turned to the EAP for support - up ...
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Employers may level down pensions to meet auto-enrolment costs
Around 41% of employers are likely to level down pension benefits to meet the cost of auto-enrolment, according to research by the Association of Consulting Actuaries (ACA).The association's survey, conducted as part of its input to the government's review of the national employment savings trust (Nest) and auto-enrolment, also showed ...
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Motivate staff to kick post-holiday blues
As the rain sets in, many employees are reluctantly returning to work after their summer holiday.With many staff struggling to get back into working mode, the debate over how employers should motivate staff to kick the post-holiday blues is underway.Leading commentators on the issue have differing views on how employers ...