All articles by Tom Washington – Page 13

  • Article

    Pensions research: Types of pension scheme offered

    1 August 2009

    The shift from defined benefit to defined contribution plans continues, and more employers prepare to introduce auto-enrolment, says Tom WashingtonRising costs have seen the shift from defined benefit (DB) to defined contribution (DC) pension schemes gather pace. Some 87% now offer a DC plan to some or all staff, compared ...

  • Article

    JPMorgan Invest renamed Wealth at Work

    1 August 2009

    Financial education and employee wealth management services provider JPMorgan Invest has been renamed Wealth at Work.The change follows the completion of a management buyout backed by Lloyds TSB Development Capital (LDC), the private equity division of Lloyds Banking Group.Wealth at Work provides services which allow employees to maximise the value ...

  • Article

    Molson Coors Brewing Company aims to increase driver safety

    1 August 2009

    Molson Coors Brewing Company is issuing Permits to Drive to more than 1,000 drivers across the company to ensure maximum occupational road risk management compliance.The UK's second largest brewer has teamed up with Fleet Supports Group and will use the latter's web-enabled RiskMaster programme to issue to permits.The company’s 900 ...

  • Article

    CIPD research: Poor reward communication seen as big threat

    31 July 2009

    Poor communication of reward is seen as the most common threat to organisational performance associated with pay and reward, according to a survey commissioned by the Chartered Institute of Personnel and Development (CIPD).Despite the media and regulatory spotlight on the dangers posed by bonuses around encouraging poor behaviour and performance, ...

  • Article

    Pension Protection Fund offers short-term reprieve for large plans

    31 July 2009

    The Pension Protection Fund (PPF) has offered short-term reprieve for large schemes and says it could run a deficit for decades.It announced yesterday that it will delay its plans to make the largest pension schemes provide a bigger share of the money it collects through levies by at least a ...

  • Article

    NSPCC closes final salary pension scheme to existing members

    30 July 2009

    The National Society for the Prevention of Cruelty to Children (NSPCC) is to close its final salary pension scheme to existing members.The move comes in order to mitigate the pension liabilities and the level of financial risk it presented the organisation. The charity said it could not afford to let ...

  • Article

    Gender pay gap widens after 10 years of progress

    30 July 2009

    The gender pay divide is widening again after 10 years of narrowing, according to a report from the Women and Work Commission.Figures for median earnings, which take into account full and part-time work, show that women are paid 22.6% less than men. The commission said that although this figure has ...

  • Article

    Health and wellbeing providers gear up for swine flu

    29 July 2009

    Health and wellbeing providers are gearing up for increased demand caused by swine flu, following government warnings that there could be 100,000 new cases of swine flu each day by the end of August. Furthermore, figures from absence management company FirstCare says employees infected with the virus are taking an ...

  • Article

    Emap outsources benefits, HR and payroll processes

    28 July 2009

    Emap has outsourced all HR, payroll and benefits delivery to NorthgateArinso as part of its wider strategic plan to outsource all IT, finance and HR services, enabling the firm to focus on its objectives for growth.Key elements of the outsourced package include self-service, which enables staff to manage their own ...

  • Article

    London Borough of Hounslow appoints Capita Hartshead

    28 July 2009

    The London Borough of Hounslow has appointed Capita Hartshead to provide administration and advice on scheme regulations for the Hounslow Pension Fund.The fund is part of the Local Government Pension Scheme (LGPS) and the contract will run for ten years.Councillor John Todd, chair of the Hounslow Pension Fund Panel, said: ...

  • Article

    Co-operative Group launches healthcare services for staff

    22 July 2009

    Co-operative Group and Co-operative Financial Services are launching occupational healthcare services for 82,000 employees.Under the programme, staff will have access to pre-employment referrals and absence management services, including physiotherapy and workstation assessments to help improve employee wellbeing and reduce absence.The employers have teamed up with Atos Healthcare to provide the ...

  • Article

    The Royal Mail Group wins award for tackling sickness absence

    21 July 2009

    The Royal Mail Group has won an award after reducing its sickness absence rate by 7% in one year, saving the organisation more than £15 million.Royal Mail's health and wellbeing programme, which demonstrates the value of each employee’s contribution to the organisation, has earned it the accolade of the Business ...

  • Article

    Heyday case on default retirement age returns to court

    20 July 2009

    The Heyday case on the default retirement age (DRA) has returned to the Administrative Court to determine whether or not it is legitimate for UK employers to continue with the current practice of retiring employees when they reach age 65.The hearing, set to end today with a final judgement expected ...

  • Article

    Barclays staff balloted on industrial action over final salary pension closure

    17 July 2009

    Barclays employees are set to be balloted on whether to take industrial action over the bank's decision to close its final salary pension scheme.Trade union Unite says its members are incensed at the pension proposals, which would result in the total closure of Barclays' pension scheme. In a consultative ballot, ...

  • Article

    American Express suspends pension contributions

    16 July 2009

    American Express has suspended employer contributions into its occupational pension scheme in a move to cut costs.The financial services firm, which employs around 6,000 staff in the UK, has announced that it will halt the contributions for up to 18 months from 1 July to maintain profitability in the economic ...

  • Article

    JCB launches eye care vouchers

    15 July 2009

    JCB has launched eye care vouchers for staff to replace an in-house optician service.The manufacturer purchased vouchers for visual display unit (VDU) users and prescription safety spectacles from Specsavers Corporate Eyecare last month for around 4,000 employees.It previously used to provide employees with an optician that came onsite to carry ...

  • Article

    BDO Stoy Hayward boosts cycle to work take-up

    15 July 2009

    BDO Stoy Hayward has increased take up of its cycle-to-work scheme by running an extra enrolment period for the first time.The accountancy firm first launched the scheme to its 3,000 staff in December 2007 when it achieved a 4% take up.It was offered to staff again in December last year ...

  • Article

    Origen research: Age discrimination laws yet to impact on employers

    15 July 2009

    Age discrimination legislation has yet to have an impact on the majority of UK firms, as over 50% do not employ any staff over the age of 65, which rises to 80% in IT telecoms and media, according to research conducted by Origen.The legislation that was implemented in October 2006 ...

  • Article

    Goldman Sachs sets aside big compensation and benefits pot

    15 July 2009

    Goldman Sachs is set to pay out sizeable compensation and benefits this year despite the recession after it announced strong financial results.The US bank reported a net profit of $3.44bn (£2.1bn) for April to June, and has set aside $6.65bn for pay and bonuses in this quarter. This is on ...

  • Article

    BBC suspends directors' bonuses

    14 July 2009

    The bonuses of the BBC's 10 most senior executives have been suspended indefinitely amid public anger over the size of their salaries.Some of the directors were reportedly awarded more than £100,000 in bonuses last year and Sir Michael Lyons, chairman of the BBC Trust, has said that some salaries had ...