All articles by Nicola Sullivan – Page 58
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Article
Unemployment rises to 1.92 million
The number of people out of work in the UK rose to 1.92 million in November and now stands at 6.1%, with redundancies at their highest levels since 1995.Latest figures from the Office of National Statistics (ONS) show the number of unemployed people in the UK rose by 131,000 over ...
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Article
Europe rules employees accrue holidays while on long-term sick leave
The European Court of Justice (ECJ) has ruled that employees on long-term sick are entitled to take all holiday they have accumulated.Judges ruled that under the Working Time Regulations, holiday continues to accrue while an employee is off sick, bringing a long running saga over holiday accrual closer to a ...
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Article
Babs International Pension Scheme transfers to PPF
The Pension Protection Fund (PPF) has announced it has taken the Babs International Pension Scheme under its wing, bringing an extra 121 people into its compensation scheme.The addition of the office equipment firm's scheme in December brings the total number of funds in the PPF to 68, with 20,750 members ...
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Article
PADA begins search for personal accounts administrator
The Personal Accounts Delivery Authority (PADA) has launched the start of its procurement process and is looking for an administrator to deliver personal accounts when they are implemented in 2012.PADA is expected to announce which firm has been awarded the contract to provide pension administration services for personal accounts and ...
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Article
Aegon to pass on NI savings from salary sacrifice option
Aegon UK has given its employees the option to sacrifice part of their salary and contribute it to one of the financial services company's two staff pension schemes.The firm has decided to pass on most of the national insurance (NI) savings it makes from salary sacrifice to those staff in ...
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Article
Split pension overruled
A high court judgment has allowed an employee to claim his full pension at age 60 years despite accruing thepayment on split terms. The case, Foster Wheeler v Hanley, referred to an employee whose defined benefit (DB)pension accruals were split, part age 60 years and part age 65, following the ...
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Article
Employer-paid health checks to be tax-free
HM Revenue & Customs (HMRC) has confirmed that employer-provided annual health screening and medicalchecks will be exempt from tax from 6 April 2009, bringing to an end months of uncertainty. The governmentwill include legislation in the forthcoming Finance Bill to allow these perks to be exempt from tax even ifemployers ...
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Article
Maternity leave salary sacrifice warning
EMPLOYERS have been warned that staff who are about to go on maternity leave may decide to increase the amount that is being sacrificed from their salary for pension contributions in the hope that the payments will continue to be met by the organisation.The warning follows amendments to the Sex ...
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Article
Sentences toughened for health and safety offences
BUSINESS drivers and line managers who fall foul of the forthcoming Health and Safety (Offences) Act 2008could face tough fines or even a prison sentence. The act, which comes into force on 16 January, applies to a broad range of motoring offences and, unlike the Corporate Manslaughter and Corporate Homicide ...
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Case Studies
Employer profile: T-Mobile
In the fast-paced, highly competitive telecommunications industry, T-Mobile is shaping its perks to attract and keep the brightest talent, says Nicola SullivanAs the UK’s fourth-largest mobile phone network operator based on revenue, T-Mobile is holding its own in what is a fast-paced competitive marketplace. During its 15 year history, the ...
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Case Studies
Case study: Tesco
Case study: Tesco perks are all-inclusiveTesco strives to offer benefits that appeal to all its 275,000 staff, many of whom are on low salaries.All staff are entitled to the same core benefits, including a defined benefit pension plan, sharesave scheme, staff discount card, and a range of voluntary benefits. Louise ...
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Case Studies
Case study: Henderson offers sharesave and share incentive plan
Case study: Henderson offers both optionsAsset management firm Henderson Global Investors offers both a share incentive plan (Sip) and sharesave scheme to its 750 UK staff.Under sharesave, it offers the maximum 20% discount on the starting share price at maturity, while through its Sip, staff can obtain two-for-one matching on ...
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Analysis
Using benefits to support low-paid staff
Lower-paid staff can be particularly vulnerable during a recession, but carefully targeted benefits can help them cope, says Nicola SullivanTimes of economic crisis pose financial challenges for many, however, those on low salaries are often the most likely to feel the pinch. Employers can make a number of provisions through ...
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Article
Waterford and Wedgwood pension shortfall cause for concern
The collapse of Waterford Wedgwood has cast doubt over future pension provision for some of its current and former employees, with estimates showing a pension scheme shortfall of more than £100m.The firm's interim financial results for 2008 showed the defined benefit pension scheme had a deficit of 147.9m EUROS (£137m), ...
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Article
No statutory redundancy pay for Woolworths' Channel Islands employees
Woolworths' employees based in the Channel Islands have been dealt a further blow after learning they will not receive statutory redundancy pay.The retailer’s administrator Deloitte has confirmed that staff members in Jersey and Guernsey are not offered the same level of protection from the Redundancy Payment Office as workers in ...
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Article
FTSE 100 pension scheme assets fell by GBP65bn in 2008
The credit crunch wiped £65bn off the value of pension scheme assets of the UK's largest 100 companies in 2008 according to Deloitte.The business advisory firm estimated that FTSE 100 pensions schemes were in deficit by £130bn at the close of 2008, and warned that problems could deepen in a ...
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Article
Calls for reduced working hours to save car industry
The government faced calls for creative action such as reduced working hours to help the UK's car industry, as unions branded its £2.3bn support package as too little too late.Tony Wolley, joint general secretary of Unite the Union, suggested a government subsidised short working week would help the industry, and ...
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Article
Buyer's guide to carbon offsetting (January 2009)
Employers can enhance their green credentials by helping staff to offset their personal carbon footprints, says Nicola SullivanCarbon offsetting enables organisations and employees to counterbalance their carbon footprint, which is usually calculated by totting up the amount of greenhouse gases produced by factors such as car journeys, flights and the ...
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Article
Edexcel revamps its voluntary benefits
Edexcel has revamped its voluntary benefits scheme for its employees and switched providers from You at Work to Logbuy.The qualifications awarding body launched the new scheme in December, to allow its staff who number more than 1,200 access to discounts from more than 150 retailers in time for Christmas.Employees obtain ...
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Article
Hogg Robinson launches voluntary benefits
Travel services firm Hogg Robinson has launched a voluntary benefits scheme for its UK-based employees.The scheme, provided by Peoplevalue, allows staff to have access to thousands of discounts in products or services from a number of different retailers and suppliers. Staff obtain the discounts by logging onto a company-branded website.David ...