All articles by System Administrator – Page 48
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Online crash guide for company car drivers
An free online information guide for company car drivers telling them what to do if they are stopped by the police or are involved in a collision, and who to notify in the event of a crash, has been launched by fleet risk firm, Fleet Risk Consultants.The step-by-step guide for ...
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Corporate manslaughter bill becomes law
The Corporate Manslaughter and Corporate Homicide Act has received royal assent. From 6 April 2008, organisations whose gross corporate failures in health and safety lead to the death of individuals will face prosecution for manslaughter and an unlimited fine.
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Alphabet launches online company car ordering system for fleet drivers
Fleet provider Alphabet has launched an online company car ordering system for fleet drivers. The website only gives drivers access to information about the cars they are entitled to under the scheme. Drivers can use the website to compare vehicle prices and specifications and can store their favourite cars in ...
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Microsoft trials mileage reports to monitor fleet CO2
Microsoft is trialling mileage reporting devices in company cars in a bid to educate its drivers about the number of miles they drive and the amount of carbon emissions they create.The move will also give the software company an idea of the amount of damage its 4,000-strong fleet does to ...
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Confessions of a benefits manager
Candid: India is the place to be in business. Like supermodels sporting the latest handbag, every company has to have a call centre there. Not wishing to be left out in the rush to exploit low-cost labour, my company has bought a call centre in Bangalore. Just like that: prêt-a-porter. ...
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Alastair Kendrick: New partner at Bourne
Alastair Kendrick has joined Bourne Business Consulting as a partner, after the tax consultancy firm merged with his own company, LDK. Kendrick formed LDK with two fellow partners after leaving accountancy firm Wilder & Coe earlier in the year. Kendrick said the move would allow him to carry out more ...
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Pensions - definitions - Trust-based pension scheme
A trust-based pension scheme is a scheme that is managed by a board of trustees. The trustees have full responsibility for the management, administration and investment of the plan. The trustee’s fiduciary duty is to act in the interests of members and while they can delegate tasks to various specialists, ...
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Pensions - definitions - Specialist funds
Specialist funds are actively managed funds come in many flavours such as technology, smaller companies, special situation and income. They are all considered high risk.
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Pensions - definitions - Property funds
Property funds invest directly in commercial property such as offices, shops and factories. The investments earn money from rent and the increasing capital value of the properties. Commercial property has done spectacularly well in the last few years. However, values can also fall just as sharply. Property fund investments can ...
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Pensions - definitions - Pension protection fund (PPF)
The Pension Protection Fund was established to pay compensation to members of eligible defined benefit pension schemes, when there is a qualifying insolvency event in relation to the employer and where there are insufficient assets in the pension scheme to cover Pension Protection Fund levels of compensation.See: http://www.pensionprotectionfund.org.uk
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Pensions - definitions - Personal accounts
In 2012 the UK government will introduce a new system of pensions savings accounts called ‘Personal Accounts’ which is a basic, inexpensive pension plan that employers can use, unless they wish to offer staff a different form of pension scheme that is no less favourable than Personal Accounts.In 2012 a ...
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Pensions - definitions - Overseas funds
These are funds that invest in the shares of foreign companies by country such as the US, Japan or regions, such as Europe. They come in various styles including trackers and specialist but they all carry the important additional factor of currency risk.
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Pensions - definitions - Occupational pension
This is a scheme organised by an employer to provide pension benefits for their employees. Common types of pension schemes in the UK include: defined benefits (for example: final salary, career average) and defined contribution (for example: group personal pension, money purchase and stakeholder pensions). From 2012 a new scheme, ...
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Pensions - definitions - National pension savings scheme (NPSS)
In 2012 the UK government will introduce a new system of pensions savings accounts called ‘personal accounts’ into which all UK employees will automatically be enrolled unless they are already members of an occupational pension scheme which has contribution rates above those of the new NPSS. The legislation was introduced ...
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Pensions - definitions - Money purchase pension
A money purchase scheme is a trust-based defined contribution scheme. The size of the employee’s pension is determined by the size of the contributions to their pension, the performance of the investments in the scheme and the cost of an annuity (annuity rate) when they retire.
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Pensions - definitions - Managed funds
Managed funds are made up of a mixture of different types of investment such as equity, bonds and cash and possibly property and overseas equities. The spread reduces risk but can make these funds unexciting performers.
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Pensions - definitions - Lifestyle funds
Lifestyle have a strong if not a 100 per cent focus on equities in the early years, typically in global funds. These have taken the place of managed funds as the preferred default investment option under a defined contribution plan. NAPF figures show that in 2004, 56 per cent of ...
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Pensions - definitions - Hybrid scheme
A hybrid scheme is a scheme that is a combination of a defined benefit and defined contribution scheme.
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Pensions - definitions - Final salary pension scheme
A final salary scheme is a pension scheme that provides pension benefit to employees by using a formula that takes into account an employees salary at or near retirement and length of service. Although final salary schemes are highly valued by members, many have closed to new members in recent ...
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Pensions - definitions - Ethical funds
Ethical funds are a wide range of funds that either screen out ‘bad guys’ such as arms manufacturers and tobacco companies or pick ‘good guys’ for their ethical credentials, such as good employment or environmental practices. In 1999, just five per cent of defined contribution funds offered ethical funds, in ...