All articles by Nicola Sullivan – Page 57
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Article
Most employees will benefit from auto-enrolment into workplace pensions in 2012
The majority of the population will benefit from auto-enrolment into occupational pensions under 2012 pension reforms, according to a government report.The Department for Work and Pensions (DWP) study, shows that even after taking inflation into account, over 95% of people will get back more than put in.Furthermore, 70% of pension ...
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Article
Heinz introduces salary sacrifice to pension plans
Heinz has introduced pensions salary sacrifice for its defined benefit (DB) and defined contribution (DC) plans.The food manufacturer brought in the changes last month. The 1,500 staff belonging to the DB scheme, which is closed to new members, pay 6% in employee contributions. The 600 members of its trust-based DC ...
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Article
Bucks County Council launches EAP for staff
Buckinghamshire County Council has launched an employee assistance programme (EAP) for its 14,500 employees.The confidential service provides employees and their dependants access to advice on debt, childcare and relationships.The EAP is free for employees to use and will be integrated with the organisation's existing healthcare benefits. Employees can also be ...
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Article
Morrisons launches employee assistance programme
Morrisons has launched an employee assistance programme (EAP) to help support its 117,000 employees during the recession.Through the EAP, which was introduced last month, employees can contact a free and confidential helpline with personal, family, home, health, finance or work-related problems.Provided by Retail Trust, the helpline can signpost employees to ...
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Article
Inchcape adds voluntary perks
Car retail firm Inchcape has launched childcare vouchers offered via salary sacrifice after switching providers for its voluntary benefits scheme. The vouchers have been added to its voluntary benefits plan this month.Inchcape may also add a salary sacrifice cycle-to-work scheme to its voluntary benefits plan. Currently, 5,000 employees can access ...
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Article
TUI Travel unveils staff discount plan
TUI Travel is to launch a new concession scheme offering discounted package holidays and flights for the 19,000 staff working in its UK and Ireland division in April. The move is part of a benefits harmonisation exercise following the 2007 merger of First Choice Holidays and the tourist division of ...
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Article
Marcus Underhill joins Thomsons from Vebnet
Marcus Underhill is to join provider Thomsons Online Benefits from technology firm Vebnet. He will take on the role of global reward director in order to further strengthen Thomsons' international consulting team. Underhill said that the appointment would offer him the opportunity to create global reward strategies for some of ...
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Article
Phil Austin moves to BBC
The BBC has appointed Phil Austin as reward manager, where he will be largely responsible for managing reward in the broadcaster's commercial arm, BBC Worldwide. Austin joins the BBC from Nationwide Building Society, where he spent 21 years, most recently as reward consultant.
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Analysis
Enhanced transfer values
Employers that want to incentivise staff to move out of a defined benefit pension scheme by offering them an enhanced transfer value deal must be aware of the potential pitfalls, says Nicola SullivanAs the credit crunch increasingly wipes the value off of pension scheme assets, many employers offering defined benefit ...
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Analysis
Using cognitive behavioural therapy to tackle work-related stress
Work-related stress is a notoriously difficult problem to deal with, but the growing availability of cognitive behavioural therapy means employers may be able to do more to help, says Nicola SullivanCognitive behavioural therapy (CBT), often associated with acute mental health conditions, is finding its way into the workplace, where it ...
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Article
Inducements to flex out of pensions may breach Pensions Act 2008
Employers that offer pension contributions through a flexible benefits plan could fall foul of the Pensions Act 2008 if they offer inducements for staff to 'flex' out of the pension scheme.Employers could be in breach of the legislation if they offer an inducement for the sole or main purpose of ...
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Case Studies
Employer profile: TUI Travel
TUI Travel set itself tight timescales to harmonise benefits for staff following a merger, despite the tough economic climate, says Nicola SullivanTimes are tough for the UK travel industry. Last year, it appeared as though the holiday was over for many travel firms and airlines, which were faced with issues ...
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Article
Hotbed switches PMI provider
Private equity and fund management firm Hotbed has switched private medical insurance (PMI) providers to cut the cost of the perk by underwriting some of the associated risk itself.The firm has transferred its 41 recipients of PMI, which comprise employees and dependants who were previously covered by Bupa Select, into ...
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Article
Government clarifies car tax relief
The government has published a technical note that explains in detail how changes to the capital allowance regime for business fleets will take effect as part of an HM Treasury consultation on business fleet tax reforms, which closes on 27 February.The document, Modernising tax relief for business expenditure on cars: ...
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Article
Security breach on Busy Bees' website
Busy Bees has apologised to clients after some of its customers' confidential data was left exposed to other users during an upgrade to its website.The childcare voucher provider said the data was exposed to other users overnight on 11 February but affected parts of the site were taken down the ...
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Article
Educating staff about annuities
Employers can help staff choose their annuities but there are risks in doing too much, says Nicola SullivanEmployers that have gone to great lengths to promote the value of saving into occupational pensions to their staff may also be keen to ensure employees select the right annuities. On reaching retirement, ...
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Article
Abbey and Age Concern executives share leadership skills
Abbey and Age Concern have teamed up on a mentoring programme that allows employees from the charity to learn skills from the bank's key staff.The programme is open to Abbey's London-based senior executives, who will share their experience of managing change following the Santander Group acquisition in 2004. It follows ...
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Article
Pension deficits could affect companies' credit ratings
Pension deficits borne by some of the UK's largest companies could begin to affect their credit ratings, global credit agency Moody has warned.According to its report, Pension Deficits: Back on the Agenda, falling asset prices could place pressure on the sponsoring employers of some of Britain's biggest funds, which may ...
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Article
Equal Pay and Flexible Working Bill receives second reading in the House of Lords
The Equal Pay and Flexible Working Bill has received its second reading in the House of Lords.The Bill seeks to extend the right to request to request flexible working to parents of children under 16. Currently it is only available to parents whose children are disabled or aged under six.It ...
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Article
NAPF says half private sector DB pensions could close to new joiners.
More than half of the defined benefit pensions schemes in the private sector are set to close to new joiners in the near future, according to research released by the National Association of Pension Funds (NAPF).The result of the Pension Provision and the Economic Crisis survey, conducted with 100 pension ...