All articles by Nicola Sullivan – Page 61
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Article
Maternity plan delayed
The government has postponed plans to extend additional maternity and paternity leave and pay to 2010. HM Revenue and Customs has said it will no longer implement the changes for babies due on or after April 2009, but will do so for babies due on or after April 2010. Under ...
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Article
Sharesave bonuses up
HM Treasury has increased the bonus rates payable on sharesave schemes. The new rates are effective for employees who signed up to sharesave contracts on or after 1 September 2008. Staff who signed up to plans with a three-year saving period will now receive a 4.23% bonus rate instead of ...
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Article
Royal Mail wrong to dock workers' pay
An employment tribunal has ruled that Royal Mail must reimburse pay it docked from postal workers last August after wrongly penalising them for carrying out unlawful industrial action by working slowly.The ruling, made by the Croydon Tribunal Office at the beginning of September, means Royal Mail must pay 27 workers ...
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Article
Risk-sharing consultation may be too little, too late
PROPOSED measures to share pension scheme risks more evenly between employer and employee have been criticised for being 'too late' and difficult to communicate by pensions experts responding to the Department of Work and Pensions' consultation on pension risk-sharing.The consultation, which ran from 5 June to 28 August, looked at ...
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Article
New company to source financial and lifestyle perks
A new company has been set up to enable employers to source legal, financial and lifestyle benefits for their staff.Life & Legal, which launched on 1 October, has teamed up with a variety of providers to offer access to a range of benefits, including insurance, counselling and advice services, as ...
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Article
Kent County Council staff to gain tax-free bus travel
Kent County Council is looking to introduce a salary sacrifice arrangement that will enable employees to save tax and national insurance on bus travel.The local authority, which employs 46,000 staff, hopes to launch the scheme in the new year and is currently negotiating deals with bus companies.Employees who take part ...
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Article
Employee Benefits Live: Employers should promote total value of benefits
Employers have been advised to promote the total value of the reward package to employees instead of focusing on the cash elements of the reward offering in order to maximise the positive impact that perks have on the workforce.Tony Morgan, head of sales and client management, UK outsourcing at employee ...
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Article
Employee Benefits Live: Benefits audit helps employers manage international perks
An audit of benefits can help organisations with a global remit reduce the complications associated with managing benefits for employees based abroad and integrating a common corporate philosophy.Addressing delegates at Employee Benefits Live, held between September 30 and October 1 at the Business Design Centre in Islington, Ian Wright, †director ...
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Article
CIPD slams the government for sending out the' wrong message' on flexible working
The Chartered Institute of Personnel and Development (CIPD) has said suggestions the government it may back track on its plans extend the right to request flexible working to parents of older children "send out the wrong message" to employers.It believes announcements made by business secretary Peter Mandelson that the government ...
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Analysis
The future of traditional company car schemes
Tax changes may have made most company cars less attractive as a perk, but corporate manslaughter legislation has left employers in a quandary over alternative arrangements, says Nicola Sullivan.†Traditionally, employers have regarded company cars as one of the most valued perks they can offer, but changes in tax rules mean ...
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Article
Global banking and stock market crisis hits benefits
The global banking and stock market crisis has had significant fallout for pensions and other benefits.THE CRISIS hitting the financial services sector is not only set to result in a review of bonus structures in the City, but is also likely to hit defined benefit (DB) pension schemes and other ...
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Article
Nomura to review compensation package after buying Lehman Brothers
Shortly after buying parts of Lehman Brothers in Europe and Asia Japanese bank Nomura has confirmed plans to make its remuneration package more competitive.A spokesman at Nomura refused to confirm reports that investment bankers at Lehman Brothers will receive the same cash bonuses as they did last year on the ...
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Article
Role of mortality assumptions in pension scheme funding to be reduced
The Pensions Regulator has announced that mortality assumptions will not play a primary role in the funding of pensions schemes.The regulator's response document to the consultation Good practice when choosing assumptions for defined benefit pension schemes with a special focus on mortality said that mortality assumptions will only be scrutinised ...
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Article
Simply Health extends Weight Watchers programme for staff
Simply Health has extended its Weight Watchers programme from six to 12 weeks after splitting the cost of sessions with employees.The company first introduced an employer-funded six Weight Watcher's programmes in April but now has more than 30 employees taking part in a 12-week dietary advice programme after they agreed ...
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Article
IPC to roll out total reward statements to more managers
IPC plans to increase the number of managers who receive company-branded total reward statements .The media firm, which publishes titles such as Marie Claire, will extend its coverage of total reward statements from 60 to 400 managers across the business in December.Strait Logics has been appointed to provide and brand ...
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Article
Cardif Pinacle introduces employee discount scheme
Cardif Pinacle and sister company FTS have introduced an online employee discount scheme and are offering staff reductions on the price of disability aids.The discount scheme, provided by Next Jump, was introduced to the companies' 620 employees in August, shortly after French parent company BNP Paribas implemented the perk for ...
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Article
European Court paves the way for UK to keep compulsory retirement age
The Advocate General at the European Court of Justice has paved the way for UK employers to continue to enforce compulsory retirement for employees aged 65 years and over.Issuing an opinion on the age discrimination case between Heyday, a branch of Age Concern, and the Secretary of State for Business ...
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Article
TI in £250 million bulk annuity buy-in with Paternoster
Engineering firm TI has insured the benefits of 4,000 members belonging to its group pension scheme in a £250 million bulk annuity transaction with Paternoster.The buy-in has resulted in the transfer of around 20% of the plan's assets to Paternoster, who in return will make regular payments into the scheme.Members ...
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Article
HR salaries rise
HR professionals are receiving bigger salaries and higher bonuses but are working longer hours. The Annual Croner Reward and Chartered Institute of Personnel and Development (CIPD) 2008 reward survey of more than 5700 HR professionals shows that salaries within the industry increased by an average of 3.25% in 2008. Those ...
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Article
Lehman Brothers' staff to receive one month's salary
Staff at Lehman Brothers who lost their jobs after the bank collapsed will be paid one month's salary.The bank's administrator, PricewaterhouseCoopers (PWC) has confirmed that employees who continued to report to work as the investment bank went into administration will be paid by 30 September.However, Helga Breen, partner of the ...