All articles by Nicola Sullivan – Page 59
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Article
Taxpayer-funded banks' pay and remuneration policies under the spotlight
The new finance body set up to guard taxpayers' interests in government funded banks will scrutinise pay and remuneration policies to ensure they do not reward failure or encourage excessive risk.The UK Financial Investments Ltd (UKFI), was set up to be a commercial guardian of taxpayers' interests following the government's ...
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Article
MEPs vote to scrap opt-out from the 48 hour working week
The European Parliament has voted to scrap the option to opt-out of the Working Time Directive and force employers across Europe to stick to a 48 hour working week, averaged over a year.The UK won the right to opt-out of the directive in 1993 saying flexibility was vital to business ...
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Article
Tax exemption on health screening confirmed
HM Revenue & Customs (HMRC) has confirmed that employer-provided annual health screening and medical checks will be exempt from tax from 6 April 2009, bringing to an end months of uncertainty.The government will include legislation in the forthcoming Finance Bill to allow the provision of these perks to be exempt ...
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Article
Woolworths' defined benefits pension scheme is likely to be assessed by PPF
Woolworths' administrators have said it is likely that the retailer's defined benefits pension scheme will be assessed by the Pension Protection Fund.However, the Pension Protection Fund has maintained that it is equipped to deal with the retailer's pension scheme, currently still in the hand of the trustees, should it have ...
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Article
What to consider when selecting a voluntary benefits provider
Cost, communications expertise and the provision of management information services are among the factors to be considered when choosing a voluntary benefits provider, says Nicola SullivanTo read the full Employee Benefits Voluntary Benefits and Salary Sacrifice 2008 supplement, Click hereMain article:Voluntary benefits schemes are often seen as the icing on ...
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Article
Simons joins EC Harris
EC Harris has appointed Tobias Simons as head of international HR and reward. He was previously based in Milan working for Italian oil company Eni, where he was responsible for global mobility and international HR.
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Article
New role for Paul Farley
Lloyds TSB’s reward and employment policy director, Paul Farley, has taken on the role of human resources integration director to help oversee the bank’s merger with HBOS. At the same time, Tim Fevyer, head of pay, policy and employee benefits, was made acting reward and employment policy director.
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Article
Buyer's guide to group income protection (December 2008)
Group income protection products have undergone much development in recent years, providing more flexibility, says Nicola SullivanThe past few years have seen a number of changes in the way employers offer group income protection, as well as much product development, with providers adding options such as rehabilitation services to schemes. ...
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Article
IES appoints Brown
Duncan Brown has joined the Institute for Employment Studies as director of HR development. He was previously a director in PriceWaterhouseCoopers’ reward practice for two years. Brown said that he is looking forward to his new role, which has been specially created for him after 20 years in the field. ...
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Analysis
Employers look to identify savings on pay and benefits
The looming recession has prompted employers to look into identifying savings on pay and benefitsAS THE COUNTRY heads towards recession, the need to reduce or control costs has prompted many organisations to examine areas where cutbacks can be made and a number are now reviewing their pay and reward structures. ...
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Japanese employers urged to give employees more time to reproduce
Key employers in Japan are tackling the country's demographic crisis head on with new work life balance strategies aimed to encourage employees to have more sex and spend time with the family.The country's leading employers have reportedly established family weeks and are encouraging employees to actively participate in boosting the ...
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Article
Pay assured for Woolworths' staff but fears remain over pension.
Woolworths' administrators have reassured the store's employees that they will be paid until after Christmas but said it was too early to talk about the future of the firm's defined benefits pension scheme.A spokesman for administrators Deloitte said no decision has yet been taken about the retailer's final salary scheme. ...
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Article
The Pensions Bill receives Royal Assent
The Pensions Bill has received Royal Assent, providing the legal framework for personal accounts and compulsory employer pension contributions.First introduced in December 2007, the act states that from 2012 employers must auto-enrol employees, aged over 21 and earning above £5,000, into a workplace pension scheme or the new personal accounts ...
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Article
Emap switches flexible benefits provider
Emap is switching its flexible benefits provider to improve HR efficiency and make the scheme more accessible for staff.The publisher will outsource its flex provision for 1,400 eligible employees to NorthgateArinso, which also administers its HR and payroll, from 1 January to give staff access to benefits and HR on ...
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Article
Government gives green light to Dame Carol Black's fit note
The government will implement the fit note and has proposed a series of other measures that will help to ease the burden of managing sickness absence for employers as part of its response to Dame Carol Black’s report into the health of the working age population.James Purnell, work and pensions ...
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Article
Employers risk losing experienced executives if they cut pay and reward
Employers risk losing some of their most experienced executives at the point when they need them most if they cut back on compensation and reward packages.A Watson Wyatt survey of 4,800 executive directors and senior managers from FTSE 100 companies found that 31% of chief executives over the age of ...
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Article
Fidelity International to axe hundreds of jobs
Fidelity International has announced it will be making "several hundred" staff members redundant as a result of prevailing market conditions.The asset management services company - an employer of 2100 people in the UK - has confirmed that the redundancies will occur across its business internationally. Staff will be given more ...
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Article
TUI Travel completes first phase of its journey to benefits harmonisation
TUI Travel has completed the first phase of its move towards benefits harmonisation 12 months after it was created following a merger between First Choice Holidays and the tourist division of TUI, owner of Thomson Holidays.Harmonisation of the terms and conditions of the 19,000 employees in the company's UK and ...
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Article
J Sainsbury issues all staff with total reward statements
J Sainsbury has sent total reward statements to all its staff to highlight the benefits they are entitled to.In the past, total reward statements were only distributed to the store’s 1,246 senior management staff but in October, it sent the statements out to all 150,000 employees.The paper-based statements contain details ...
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Article
Regulatory change helps build case for group Sipps
Restrictions on self-invested personal pensions (Sipps) have been lifted to allow protected rights pension pots to be invested in the schemes. This means people who contracted out of the state earnings-related pension scheme (Serp) in the 1990s can now move their pension pots into Sipps.The change to pensions regulations came ...