All articles by Nicola Sullivan – Page 68
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Pensions are most popular perk offered through flexible benefits
Pensions, private medical insurance and holiday trading are the most popular benefits to be taken up by employees through their flexible benefits schemes, according to research from Aon Consulting.Its UK benefits tracker, which monitors the take up of benefits included in its clients' flex plans, found that 79% of employees ...
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MoD clarifies benefits with online statements
The Ministry of Defence (MoD) has introduced online total reward statements for its 215,000 personnel to help increase their understanding of its remuneration package.The move comes at a time when the armed forces have faced criticism from members and their families over housing conditions and other elements of their total ...
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Consultation launched on updating Myners Principles
HM Treasury, the Department of Work and Pensions and the Pensions Regulator (TPR), have launched a consultation on updating the Myners Principles, which are designed to improve trustee investment decision-making and the governance of pensions funds.The move follows last year's National Association of Pensions Fund (NAPF) review Institutional Investment in ...
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Racing Post Group outsources payroll after sale
The Racing Post Group has outsourced its payroll to minimise any disruption caused by its split from Trinity Mirror.The organisation's payroll for all employees is now administered by Northgate HR. Mark Francis, finance director at Racing Post Group, said: "The quick and successful implementation of our payroll has helped us ...
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Financial help for people who leave work early due to ill-health
People who have had to stop work early due to ill-health could receive payments from the government's Financial Assistance Scheme (FAS) up to five years before their pension scheme's normal retirement age.A draft consultation document published today on the Financial Assistance Scheme includes a requirement for trustees to provide information ...
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Helena Housing launches employer-paid cash plan
Helena Housing has introduced a fully-funded healthcare cash plan for its 530 staff as part of its ongoing commitment to employee health and wellbeing.The healthcare cash plan will allow employees to claim money back towards the cost of dentist check-ups, eye-tests and new glasses, as well as complimentary therapies and ...
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Public sector employers outsource payroll
A number of public sector employers have taken up a fully-managed payroll service from Logica. These include the Civil Nuclear Police Authority, the National Lottery Commission, the Office of Rail Regulation, The Communities and Local Government, and Government Offices for England.The shared-service model, which Logica developed in conjunction with with ...
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Employers should promote CSR to staff
Employers have an important role to play in promoting corporate social responsibility (CSR) issues to staff.Employers and pressure groups are often seen as the most trusted sources of information on environmental and social issues, according to a survey of 761 BT employees. These were followed by the government, the media ...
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GBP 1 million pay offs for executives leaving large firms in controversial circumstances
Chief executives who left large firms in controversial circumstances last year clocked up more than £10.5 million, according to research carried out by law firm Pinsent Masons.Pinsent Mason's research suggests that chief executives leaving FTSE 250 firms following difficult circumstances received pay offs to the tune of £1 million each ...
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Workplace training to receive accreditation under new scheme
The Employer Based Training Accreditation (EBTA) scheme is being launched today as part of a government-backed initiative that aims raise the status of employer based training.Under the scheme academics will advise employers on workplace learning and the awarding of credits that can contribute to a university award and the development ...
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Utilities sector awards staff above-average pay rises
The utilities sector has been awarding its workers above-average pay rises, according to a survey released by Incomes Data Services (IDS).The highest pay deal so far recorded by IDS across all types of businesses for April is at power station Drax, where staff are set to receive a 7.1% salary ...
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Royal Mail launches health assessment service to tackle absence
The Royal Mail Group has launched a range of health and lifestyle assessment services for its staff as part of its ongoing efforts to combat employee absence.An online health checking and assessment service will enable the 180,000 people working for Royal Mail, Parcelforce Worldwide and the Post Office to examine ...
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John Lewis increases staff bonus to 20% of salary
John Lewis Partnership has increased its staff bonus by 18% so that each employee receives the equivalent of more than ten weeks of pay.The increase to 20% of salary means that the group will pay out a total of £181.1 million in staff bonuses for the year ending 26 January.Group ...
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RH Group appoints Aon to consult on benefits package
The RH Group has appointed Aon Consulting to provide consultancy services as part of efforts to attract and retain employees with an appealing benefits package.Aon will be assisting the road freight network to design a bespoke benefits package and provide consultancy services for it employee benefits arrangements, including its defined ...
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Oil companies face holiday increase for offshore workers
Oil companies will have to provide more holiday for offshore workers following a judgment by an employment tribunal.The Aberdeen employment tribunal found that staff are entitled to paid holiday under the Working Time Regulations (WTR) 1998 proportionate to the time spent working offshore and that field break does not count ...
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Burger King looks to improve pension scheme service
Burger King has appointed Xafinity Consulting to improve pension scheme services for its members.The fast food chain sought consultancy support for its scheme, as part of its evolving pension strategy. It awarded the contract to Xafinity because of its online capabilities and interactive tools, which will be used to deal ...
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John Lewis cuts the time staff must wait to join final salary pension
John Lewis plans to reduce the amount of time staff have to wait before being able to join its final salary pension scheme from five years to three.The non-contributory scheme is fully funded by John Lewis, meaning staff will have a pension based on 1/60th of their final salary for ...
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Employers to save billions if ban on conditional indexation is axed
Employers with final salary pension schemes could save billions of pounds a year if the government decides to pave the way for conditional indexation enabling the removal of index linking if the pension is performing badly.According to research conducted by Standard Life, employees could lose an average of £2,304 a ...
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Voluntary pensions groups are set to join forces
Two voluntary organisations that aim to raise the standards of occupational pensions schemes in the UK are to join forces.Raising Standards of Pensions Administration (RSPA), which promotes the advancement of knowledge and best practice in pensions administration, and Raising Standards of Trustee Education (RSTE), which supports ‘lay’ pension trustees will ...
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Budget 2008: Employers could feel the pinch as gas-guzzlers targeted
Employers could feel the pinch financially as a result of increases in fuel duties,and changes to vehicle excise duty and capital allowances for business cars that penalise gas guzzlers, outlined in Alistair Darling’s Budget report.Business cars will now be subject to emission-based capital allowances. Cars will be placed in one ...