All articles by Nicola Sullivan – Page 45
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Article
Number of employees in final salary schemes continues to fall
The number of employees in final salary schemes in the private sector continued to drop last year, according to data from the Office for National Statistics (ONS).The Occupational Pension Schemes Annual Report 2008 reveals that the number of workers in private-sector run final salary schemes has fallen to a record ...
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Employers urged to do more to get staff to cycle to work
The Department for Transport has set up a new voluntary scheme as part of its efforts to ensure employers provide the right facilities for staff to cycle for work.By signing up to the Cycle-to-Work Guarantee scheme, public and private sector employers are committing to provide their staff with safe bike ...
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Article
Happiness is more important than money for UK employees
Achieving personal happiness and contentment is a top priority for many UK employees and nearly three in five (58%) have said they would choose to earn less money if they could work for a firm that provides them with the time to pursue their interests.According to the O2 Values Working ...
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Olympic chief defends £250,000 salary for three-day-week
The London 2012 Olympic Games has been praised for the role it will play in regenerating East London - one of the poorest areas in the UK.However, thoughts of the deprived and less advantaged in society did not filter into the consciousness of chair of the Olympic Delivery Authority John ...
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Xafinity Paymaster launches straight through processing service
Xafinity Paymaster has started live trading with its fund managers after launching its straight through processing (STP) service.The organisation has automated the investment process using two practices called the Altus Instruction Gateway and ViaNova. The latter allows pension administrators to send investment instructions to fund managers electronically over a secure ...
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City workers set to spend bonuses on plastic surgery
Signs of economic recovery may not only be apparent in the rise of the FTSE but also in the inflated chests, flatter tummies and botox-paralysed faces of city workers.Sleepless nights over plummeting share prices might not be the only reason why some employees look tired out during a recession as ...
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Article
Babcock International Group conducts second longevity swap
Babcock International Group has entered into a longevity swap for a second defined benefit (DB) pension scheme.The firm implemented the first ever longevity swap for a UK pension scheme earlier this year.The new 50-year swap agreement, with Credit Suisse, hedges out mortality risk for an additional 7,00 pensioners, as well ...
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Article
Danish pension fund provider pulls out of running for personal accounts administration
Danish pension fund and administration provider Arbejdsmarkedet Tillaegspension (ATP) has pulled out of the race for the personal accounts administration contract.The Personal Accounts Delivery Authority (PADA) confirmed that ATP had withdrawn from the bidding process on the grounds that providing services for personal accounts does not fit with its "commercial ...
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Boris Johnson grills Jeremy Paxman about pay
Jeremy Paxman’s defensive behaviour in response to Mayor of London Boris Johnson’s persistent questioning about his reputed £1 million salary suggests he won’t be the first employee to whole-heartedly embrace the ethos of the forthcoming Equality Bill, which will make it easier for workers to discuss what they earn with ...
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Article
British Airways to lower wages for new cabin crew
British Airways is to grant voluntary redundancy for 1,000 employees and reduced hours for a further 3,000 more workers, and has confirmed it will recruit new cabin crew on lower wages, as part of continued cost-cutting.The changes, due to come into force in November, will represent a reduction of 1,700 ...
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Article
Senior public sector staff could face pay freeze
The government has proposed a pay freeze for senior public sector staff along with rises of less than 1% for hospital doctors, dentists and non-senior civil servants.Chancellor Alistair Darling will write to the independent pay review bodies in a bid to get them to impose the changes, which would come ...
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Article
Google appoints Mercer to act as benefits advisor
Search engine Google has appointed consultancy firm Mercer to act as an advisor for its employee benefits provision in the UK.Mercer will advise the firm on how to manage its contract-based pension scheme and associated risk, as well as its medical arrangements.In addition, Mercer will broker benefits on Google's behalf, ...
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Employees want gossip breaks and dating service at work
Imagine an office where female workers are granted official gossip breaks, such as the ones unofficially enjoyed by their smoking colleagues, and male employees are allowed to watch the football on plasma screen TVs during working hours.Meanwhile, amorous employees make eyes at each other during internal meetings after being introduced ...
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Article
Canada Life launches services to help employers tackle absence
Rising absence levels and a 22% increase in group income protection claims over the past year have prompted Canada Life Group Insurance (CLGI) to launch a range of services designed to help employers prevent workplace absence and reduce the number of staff off on long-term sick.CLGI's Working Well package includes ...
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Article
West Sussex County Council increases healthcare provision
West Sussex County Council has appointed Atos Healthcare to provide a range of health services for its 22,000 employees and support a further 5,000 employees working at its partner organisations.Under a three-year partnership, staff will be provided with a range of on and off-site services that will include pre-employment, management ...
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Article
Killik launches workplace guide to money matters
Killik Employee Services has launched a workplace financial education service designed to complement the Financial Services Authority's national financial capability initiative.Online serviceThe online service, Money in Mind, gives guidance on matters such as pensions, budgeting, savings and insurance.Staff can access interactive and planning tools such as virtual financial education tutorials ...
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Article
Room for improvement in the standard of employers' retirement literature
Research conducted by the Pensions Regulator has found that 30% of UK employers have allegedly failed to disclose adequate guidance to their employees on defined contribution (DC) pensions.A review of retirement information, which looked at 97 DC schemes, found that 30% had alleged legislative breaches of retirement disclosure regulations, while ...
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Article
Computershare Voucher Services launches online childcare system
Computershare Voucher Services has launched an new online operating system as part of a £3 million investment programme for its childcare voucher customers.The new online system allows parents and registered carers to effectively have their own account, which can be accessed online and used to pay and redeem childcare vouchers.It ...
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Case Studies
Case Study: Deloitte
Case Study: Salary sacrifice savings add up for DeloitteBack in February, accountancy and business advisory firm Deloitte introduced a salary sacrifice-based company car scheme for its 12,000 UK employees.Since then, about half that number have registered for a quote and 400 confirmed orders have been taken. Mike Moore, director of ...
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Childcare vouchers campaign gathers pace
The campaign against the government's decision to abolish tax relief on childcare vouchers has gathered pace with childcare providers lobbying politicians on the issue and a petition set up against the plans attracting more than 20,000 signatures.In addition, a Facebook site dubbed 'Save childcare vouchers' has 410 members, while the ...