All articles by Rebecca Patton – Page 16
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Article
Interview with Tim Taylor, group head of reward at TUI Travel
Tim Taylor, group head of reward at TUI Travel, is keen to spread the best aspects of the organisation’s UK-based benefits to its workforce across the globeTim Taylor, group head of reward at TUI Travel, may work for a travel business, but that doesn’t lessen the challenges of providing reward ...
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Case Studies
GE harmonises flexible benefits
GE introduced a flexible benefits scheme for its entire 19,000-strong UK workforce last November in an effort to harmonise the benefits it offers across its four main business divisions (see below).Before the arrival of the scheme, which is called FlexChoice and provided by Vebnet, each of the businesses operating within ...
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Article
Global banks claw back staff bonuses
Almost one-fifth (17%) of banks clawed back compensation payments to staff in 2011, according to research by consultancy Mercer.The Financial services executive compensation snapshot survey found that, prior to 2011, 44% of banks had a clawback provision in place and now a further 18% have introduced the measure.The main reasons ...
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Article
Monday blues are just a myth
The idea that workers hate Monday more than any other day of the week is just a myth, according to research by Gallup and Stony Brook University in New York.The study looked at the effect of each day of the week on positive and negative moods. It found that negative ...
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Newsquest staff call ballot over pay freeze
Newsquest journalists in Yorkshire and the North East have called for a ballot for industrial action over a pay freeze.The ballot follows a letter to staff from Steve Hughes, managing director at Newsquest York, which confirmed that staff pay reviews would not take place this year due to the difficult ...
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Article
You at Work chooses Gresham Computing as technology partner
Employee benefits provider You at Work has chosen Gresham Computing as its cash and transaction technology partner for its benefits programmes.Gresham Computing, a provider of transactions control technology to international financial institutions, and You at Work, have been working together for the past five years on various projects, including the ...
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Article
Employers offering workplace savings
Only one fifth of employers are not making provision for staff to take advantage of tax breaks around workplace savings, according to research by Employee Benefits.The Employee Benefits/Premier pensions and workplace savings research 2012 found the number of employers offering no provision has fallen to 20% from 57% in 2011, ...
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Article
OTS unapproved share review may help unquoted companies
The Office of Tax Simplification’s (OTS) review of unapproved share schemes is likely to be of help to unquoted firms, says Nicholas Stretch at CMS Cameron McKenna.The review is looking at areas of simplification in unapproved share schemes such as long term incentive plans.Stretch says that the areas in which ...
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Article
Women may miss out in retirement
Women’s pension pots are worth 67% of male counterparts, according to research from Bluefin Corporate Consulting.The analysis found that women have pension savings found that this was in part due to lower salaries and lower employee contribution rates of 4.25% for women compared with 4.93% for men.Bluefin Corporate Consulting warns ...
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Article
Workers spend 27 minutes gossiping a day
The average office worker spends 27 minutes and 27 seconds a day gossiping with colleagues, according to research by Mars Drinks Office Connections.This length of time rises for HR professionals who spend on with the average 29 minutes and 26 seconds talking to colleagues about non-work related subjects.The survey, carried ...
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Article
Defined benefit pensions impacting businesses
It would take over one year to repay the defined benefit (DB) pension scheme deficit using all cash generated from day-to-day operations for 29 firms in the FTSE350, according to research by Barnett Waddingham.The study found that over 49 FTSE350 businesses have DB pension deficit contributions that exceed their free ...
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Article
Many higher rate taxpayers do not contribute to a pension scheme
One in four higher rate taxpayers do not contribute to a pension scheme, according to research by Prudential.Nationally, this means 216,000 employees are missing out on up to £438 million per year in pension tax relief.According to the study, of those earning between £42,275 and £149,999, 21% say they cannot ...
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Article
Benefex appoints new chairman
Benefex has appointed Steve Bellamy as chairman.He will take over from current chairman Peter Waller who will become executive director at the online employee reward and benefit schemes provider.Bellamy will also remain as chairman at Becrypt, a cyber-security technology specialist. His previous roles include non-executive director at Advanced Medical Solutions ...
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Article
LCP launches auto-enrolment modeller for employers
LCP, the financial, actuarial and business consultancy, has launched an interactive defined contribution (DC) pensions modelling tool to help employers with their auto-enrolment requirements.The modeller allows employers to review the pension scheme design options that are available to meet the auto-enrolment obligations. Employers can input individual scheme and employee data ...
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Dawson International calls in administrators after inability to pay pension deficit
Textile firm Dawson International has called in administrators after it was unable to reduce its defined benefit (DB) pensions deficit said to be around £50m.Administrators have been appointed to Dawson International its principal trading subsidiary Dawson International Trading and the intermediate UK holding company Dawson International Holdings (UK). However, the ...
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Article
Organisations now planning for real-time information reporting
Planning for real-time information (RTI) reporting of payroll data to HM Revenue and Customs (HMRC) has begun in 86% of organisations, according to a survey by KPMG.Its survey of 42 large businesses in the UK found an increase in the number of organisations preparing for RTI since March this year ...
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Article
Ceredigion County Council replaces payroll system
Ceredigion County Council has appointed Logica to handle the replacement of its payroll system.The mid-west Wales council is replacing the system to ensure it is compliant with HM Revenue and Custom’s real time information (RTI) system for reporting pay, tax and national insurance, which becomes mandatory in April next year.The ...
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David MacLeod to speak at Employee Benefits Live ahead of MacLeod report update
David MacLeod will be a keynote speaker at Employee Benefits Live 2012 ahead of the publication of the MacLeod report update due in October.MacLeod, co-chair of the Employee Engagement Taskforce and co-author of the MacLeod Report on Employee Engagement, will be the keynote speaker on the second day of the ...
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Article
NAPF launches pension saving guides
The National Association of Pension Funds (NAPF) has launched the fifth and sixth online guides in its New rules for pension saving made simple series.The two documents have been produced in association with JLT Benefit Solutions to provide guidance on implementing auto-enrolment for HR professionals and employers. Topics covered in ...
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Article
PMI Health Group launches Advocate service
PMI Health Group, a provider of employee health risk management, has launched an insurance claims administration and management service to help employers maximise their employee benefits investment.The service, which is run by nurses and administration experts, provides employers with regular reports on how different health and group risk policies are ...