All articles by Nicola Sullivan – Page 60
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Case Studies
Employer Profile: Abbey
Abbey’s takeover by Santander has enabled the bank to broaden its horizons when it comes to benefits, says Nicola SullivanAbbey is one of few banks that appear to be weathering the economic storm. It is part of the Banco Santander Group, the fifth largest bank in the world by profit. ...
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Analysis
Interview with Willl Cavendish, director of health and wellbeing at the Department of Health
Will Cavendish, director of health and wellbeing at the Department of Health, believes employers can improve the nation's health while also helping themselves, says Nicola SullivanEmployers can play an important role in tackling some of the UK's most prevalent health problems while at the same time improve their own financial ...
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Article
Pre-Budget Report: Fuel duty to increase and vehicle excise duty reforms scaled down
Chancellor Alistair Darling has minimised the impact of vehicle excise duty reforms, but maintained his decision to increase fuel duty offsetting the 2.5% temporary decrease in value added tax (VAT).In his pre-Budget Report, the Chancellor confirmed that the planned 2p rise in fuel duty, first announced in April, will be ...
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Article
FSCS confirms protection for SAYE scheme deposits.
The Financial Services Compensation Scheme has conformed today that it will protect money deposited in SAYE †schemes.It said the that money deposited into banks and building society via standard SAYE schemes will be protected in the same way as any other deposit.This protection applies to schemes where the deposit is ...
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Article
House of Lords rejects compulsory annuitisation
The House of Lords has voted to keep the age of compulsory annuitisation at 75 during its debate of the Pensions Bill.The House of Lords rejected amendments made by the Liberal Democrats to the Pensions Bill for annuitisation extension for people aged 85 to 80. An earlier amendment tabled by ...
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Article
NXP revamps voluntary benefits
NXP has revamped its voluntary benefits programme to add perks that cater for grass roots employees working in its manufacturing sites.All 950 staff at the firm, which was part of Philips until 2006, will have access to a range of voluntary benefits including retail vouchers and discounts on days out ...
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Article
Pensions Regulator urges pension trustees to make 'sound decisions'
The Pensions Regulator has urged trustees to continue to focus on making 'sound decisions' in the long-term interest of pension scheme members during a time of uncertain market conditions.In a statement issued to trustees of all work-based pension schemes, the regulator asked trustees to remain vigilant and keep the position ...
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Article
ITV to review reward criteria for future senior executives
Television broadcaster ITV will be reviewing the way it rewards senior executives in the future as part of a normal business review.The television broadcaster has confirmed that it will be assessing the criteria of its long term incentive plan (LTIP), which sets executive performance targets. The current scheme was put ...
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Article
BBC and Royal Mail pension schemes are hit by falls in the stock market
Pension schemes at Royal Mail and the BBC are among the latest to have been hit by turbulent market conditions in the last few months.Royal Mail's pension accounting deficit has increased by more than £1bn from £2.9bn to £4bn since March as a result of heavy falls in the stock ...
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Article
European Parliament increases rights for agency workers
Temporary employees will be given increased rights after the European Parliament passed the The European Directive on Agency Workers.Employers will have to treat agency workers the same as permanent staff after completing 12 weeks on the job, meaning they will receive equal pay and working conditions. Agency workers, however, will ...
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Article
Government cracks down on new buyout models
The government has tabled amendments to the Pensions Bill that would introduce measures to protect pension members' benefits against risks associated with new models of pension buyouts.The government's aim is to adapt the Pensions Regulator's powers to an evolving pensions market, which has seen the emergence of new alternatives to ...
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Article
Marks & Spencer upholds dismissal of whistle blower
An employee from Marks & Spencer who was fired for blowing the whistle on the firm's plans to slash redundancy pay has lost an internal appeal against his dismissal.It was announced that Tony Goode, represented by the GMB union, had been unsuccessful in his appeal yesterday (October 15), more that ...
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Article
NAPF conference: PPF unveils long-term pension levy proposals
The principles underpinning the future of the pension protection levy have been unveiled by the Pension Protection Fund's (PPF) director of financial risk Martin Clark.Addressing delegates at the National Association of Pension Fund's (NAPF) annual conference and exhibition in Glasgow, Clark outlined long-term levy proposals that aim to make the ...
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Article
NAPF conference: Fears allayed over online personal accounts plans
Plans to administer and manage elements of Personal Accounts online have prompted fears about technical problems experienced by the NHS and other public sector organisations.But Tim Jones, CEO of the Personal Accounts Delivery Authority (PADA), reassured delegates at the NAPF annual conference in Glasgow who expressed concerns over technical problems.Jones ...
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Article
NAPF conference: Advice on pensions is key to 2012
Companies who provide financial advice to employers will outshine their competitors after auto-enrolment into pensions schemes is introduced in 2012.Andrew Dickinson, senior business development manager at Standard Life told delegates at the National Association of Pension Funds' (NAPF) conference in Glasgow that auto-enrolment was an opportunity.He said: "Auto-enrolment works and ...
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Article
Jeannie Drake new acting chairman to Personal Account Delivery Authority
Jeannie Drake has been appointed acting chair of the Personal Account Delivery Authority. She will take over from Paul Myners, who resigned earlier this week to take up a role with the Government.Secretary of State for work and pensions James Purnell revealed Drake's appointment at the National Association of Pension ...
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Article
NAPF Conference: Barclays stands by pensions
A Barclays reward professional urged employers to view pensions as a useful reward tool rather than a burden.David Fitch, reward manager at Barclays, was addressing delegates attending the conference session Payback or payload? The place of pensions in today's reward package at the NAPF conference in Glasgow.He said that offering ...
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Article
NAPF conference:Purnell wants consensus on personal accounts
James Purnell, secretary of state for work and pensions, has called for continued consensus around personal accounts.He told delegates at the National Association of Pension Funds's (NAPF) annual conference and exhibition in Glasgow today (9 October) that the delivery of auto-enrolment and personal accounts would be a "significant challenge."Speaking at ...
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Article
NAPF conference: Employers remain committed to pensions despite rising costs
Employers remain committed to workplace pension schemes despite soaring costs. But change is on the horizon according to research conducted by the National Association of Pension Funds (NAPF).The survey -34th National association of Pension Funds' Annual Survey of UK Pensions Funds 2008 - a study of 327 fund managers - ...
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Article
Lehman Brothers' staff to receive no redundancy pay
Lehman Brothers employees who were made redundant after the bank collapsed will receive no redundancy pay from the firm.The 750 staff who lost their jobs have been paid their last month's salary, but will receive only statutory redundancy pay.Administrator PriceWaterhouseCoopers (PWC) confirmed that most of the redundancies came from the ...