All articles by Rebecca Patton – Page 5
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OFT launches DC pensions market study
The Office of Fair Trading (OFT) has launched a market study of defined contribution (DC) workplace pension schemes.The study aims to examine whether schemes are set up to provide the best value for money for employees.It will look at:How pension providers compete and how the market develops.Whether there is enough ...
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Employers to reduce DC contributions
Nearly one in three respondents have considered reducing contribution levels to defined contribution (DC) pension schemes that are used for auto-enrolment, according to research by Aon Hewitt.Its survey found that more respondents are considering lowering contribution levels for non-pension scheme members than in 2011, when one in seven were considering ...
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Pension contributions are flatlining
The average combined pension contributions by employers and employees to small organisations’ defined contribution (DC) pension schemes have remained the same since 2010, according to research by the Association of Consulting Actuaries.The ACA 2012 smaller firms’ pension survey found that combined contributions into trust-based schemes have remained static at 9% ...
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Regulator consults on DC pensions
The Pensions Regulator (TPR) has opened a consultation on a regulatory framework that will ensure employees in defined contribution (DC) pension schemes get the best return on savings.Its Regulating work-based defined contribution pension schemes consultation sets out six principles and 31 quality features that occupational DC trust-based pension schemes should ...
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Jelf launches retirement coaching service
Jelf Employee Benefits has launched a retirement coaching service.The service includes coaching for employees on how to make fact-based decisions about retirement and consider financial decisions. It will also cover lifestyle planning issues, such as fitness and diet, as well as managing time and maintaining friendships in retirement.The service is ...
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Childcare vouchers influence return to work
The provision of a childcare voucher scheme may influence employees’ decision to return to work following parental leave or to remain with a current employer, according to a survey by Busy Bee Benefits.The survey, carried out among the organisation’s customers, found that 32% of respondents said childcare vouchers had influenced ...
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Mums work four months to cover childcare costs
Mothers working full-time in the South West and West Midlands need to work for 18 weeks and 15 weeks a year, respectively, before they break cover childcare costs, according to research by Family Investments.This found that UK mothers work up to four months of the year just to pay towards ...
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Simplyhealth launches new cash plan
Simplyhealth has launched a new employer paid health plan.This includes free child cover for up to four children under 18 years old, discounted gym membership, online health risk assessments and a dental accident benefit as part of the new plan.Alongside the core plan, employers can also choose from six additional ...
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Bupa partners Jubilee Insurance in Kenya
Bupa International and Jubilee Insurance, an east African insurance group, have entered into a partnership to offer Bupa’s health insurance products in Kenya.These products include Bupa’s emergency treatment plan, Vital Africa, which enables staff to access emergency treatment anywhere in Africa.Wayne Close, managing director at Bupa International, said: “This partnership ...
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NAPF appoints investment lead
The National Association of Pension Funds (NAPF) has appointed Helen Roberts as lead to work on investment issues across defined contribution (DC) and defined benefit (DB) pension schemes.Roberts’ work will include engaging in debates around low gilt yields and the impact of the current economic climate on asset allocation strategies, ...
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TomTom launches mileage claim app
Navigation product and service provider TomTom has launched an application (app) that allows employers to manage mileage claim administration.Its Webfleet logbook app is designed to produce reliable journey logs to help employers with tax compliance. The app works with Android phones and iPhones, in combination with an employee’s in-car TomTom ...
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Regulator publishes contract-based pension analysis
Analysis by The Pensions Regulator (TPR) shows the Financial Services Authority’s (FSA) contract-based pension rules and guidance align in many ways with its defined contribution (DC) quality features.The analysis was published to coincide with TPR’s consultation on DC standards for occupational trust-based pension schemes, which was launched on 10 January.A ...
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Absence management is top priority
Absence management is the top priority for employer respondents, according to research by Best Doctors.The annual Best Doctors/Canada Life survey found that, with regards to workplace health, respondents are also prioritising communications (18%), cost mitigation (15%) and return on investment (6%).The main objective for respondents’ workplace health benefits programmes was ...
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Wolverhampton College given payroll accreditation
City of Wolverhampton College and Dataplan have been awarded the Chartered Institute of Payroll Professionals’ Payroll Quality Partnership (PQP) accreditation.The PQP recognises organisations that apply best practice in developing their payroll professionals.The CIPP has also re-accredited Carillion, Mouchel, Nottingham University Hospital NHS Trust, the University of Lincoln, West Midlands Fire ...
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Red carpet treatment
Something for the weekend…When starting a new job, it is always nice for employees to find out where they are going to be sitting, who they will be working with and what benefits their new employer offers.One new staff member at Mary Free Bed Rehabilitation Hospital, Grand Rapids, Michigan, however, ...
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Men could lose pension income in rule change
Under the European Union (EU) Gender Directive men will see pension annuity rates fall, while women will see rates rise, according to PricewaterhouseCooper (PWC).The EU directive, which comes into force on 21 December, will ban the use of gender as a factor in pricing for insurance products and annuities.According to ...
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Financial Services Bill gets Royal Assent
The Financial Services Bill received Royal Assent on 19 December.The bill, now an Act of Parliament, will be known as the Financial Services Act and will come into effect from 1 April 2013.It gives the Bank of England responsibility for protecting and enhancing financial stability. It also abolishes the Financial ...
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Women in female-dominated careers are better paid
In countries where men and women tend to work in different occupations, pay inequality between them is lower, according to research by Warwick Business School, the Univerity of Cambridge and Lakehead University in Canada.The study of 20 industrialised nations found that, when women work in careers that are not dominated ...
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Top Right Group appoints new online payroll provider
Top Right Group has switched providers for its online payroll and HR system.The new system, which will be provided by Ceridian, will include online payslips and P11D reporting for 1,200 employees in the UK, and international payroll for 300 overseas employees.Ceridian will also provide the events, information services and business-to-business ...
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Employers benefit from health initiatives
Employers have seen an increase in staff productivity and motivation, and a reduction in sickness absence following the introduction of health-related benefits, according to research by Aviva.Its Health of the workplace 2012 report found that 89% of respondents reported increased staff productivity, increased motivation (88%), reduced sickness absence (83%) and ...