All articles by Tom Washington – Page 15
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Article
Age discrimination laws yet to impact on employers – say Origen
Age discrimination legislation has yet to have an impact on the majority of UK firms.According to the seventh annual Employee Benefits Survey conducted by Origen, this is because over 50% do not employ any staff over the age of 65, which rises to 80% in sectors such as IT, telecoms ...
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Analysis
Do Sipps spell an end for GPPs?
Self-invested personal pensions are putting the popularity of GPPs under pressure as employers and employees seek greater flexibility in their investment options, says Tom WashingtonIf you read nothing else, read this…- Group personal pensions (GPPs) are a contract-based defined contribution occupational pension vehicle.- Their popularity was threatened in 2001 with ...
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Article
Cars most at risk from cuts
Cost-cutting remains high on many employers' agendas, with one in four financial decision-makers prepared to cut all types of employee benefits.According to the Employee Rewards survey published by Lloyds TSB Autolease, just under a quarter (23%) of the 200 financial decision-makers questioned said they would not offer any form of ...
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Article
AWD Chase de Vere enhances financial awareness product
AWD Chase de Vere has enhanced its financial awareness product by providing UK employers with regional consultants clued up on their benefits packages.Employees can call upon the regional consultants, all of which have been trained on individual company benefits structures, to assist them in engaging their workforce with financial perks.Details ...
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Article
The You Company launches workplace wellness system
The You Company has developed a wellness system for workplace use with support from medical professionals.Key to Life is a tailored system for organisations, which employees can use to monitor and record their own wellness through an online assessment.It provides results in the form of a traffic light system – ...
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Article
Asperity moves voucher and gift card operation in-house
Asperity Employee Benefits has moved its voucher and gift card operation, from order to despatch, in-house.The re-vamped voucher shop on Asperity’s Reward Gateway voluntary benefits platform means that orders for discounted retail vouchers and cards placed before 11 am will now be dispatched the same day.The product range includes paper ...
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Article
FTSE 100 firms increase life expectancy assumptions
FTSE 100 companies have increased the life expectancy assumptions used in valuing their pension scheme liabilities for the third consecutive year.Mercer’s UK IAS19 Assumptions Survey showed that over 2008, the average life expectancy assumption for employees who have already retired increased by around seven months. This is approximately equivalent to ...
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Article
The Voucher Shop launches communications support package
The Voucher Shop has launched a marketing communications support package for users of its flexible benefits scheme.ŒMaintaining Momentum has been created to assist clients in the launch and ongoing communication of a Spree-flex scheme to employees in order to encourage increased participation and take-up.Among the suggestions included in the package ...
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Article
Kellogg's introduces total reward statements
Kellogg’s has introduced personalised Total Reward Statements for its 2,000 staff for the first time.The statements feature some of Kellogg’s best-loved characters to grab employees’ attention and shout about the benefits they receive. Bright, bold and jargon-free, they spell out the reward offering for employees at a glance.It is one ...
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Article
More than a third of adults are without pension
More than one third (36%) of adults in Great Britain, who are not already retired, do not have a personal or company pension in place, according to YouGov research commissioned by employee benefits adviser Foster Denovo.The survey also highlighted that more than a quarter (28%) of people aged between 25 ...
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Article
Babcock International Group conducts first pensions longevity swap
International law firm Pinsent Masons has advised the trustee of one of Babcock International Group's pension schemes on the first ever longevity swap with a UK pension scheme.The longevity swap is in the form of a derivative contract, with Credit Suisse, to provide longevity protection for certain of the scheme's ...
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Article
Employee Benefits Awards 2009 winners announced
The winners of the Employee Benefits Awards 2009 were announced last Friday during a glittering lunch ceremony at the Park Lane Hilton Hotel.The capacity event, attended by more than 650 high-level industry professionals, saw trophies presented to the winners by leading Welsh comedian Rhodd Gilbert.Among the winning employers was Ladbrokes, ...
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Article
Tower Perrin and Watson Wyatt merge to form Towers Watson
Tower Perrin and Watson Wyatt merge to form Towers WatsonConsultancy firms Towers, Perrin, Forster & Crosby and Watson Wyatt Worldwide have announced they will merge, creating a new global firm called Towers Watson & Co.Towers Watson will focus its operations on three segments: benefits, talent and rewards, and risk and ...
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Article
Swinton appoints Friends Provident to provide stakeholder pension
High street insurance retailer Swinton has appointed Friends Provident to supply a new group stakeholder pension scheme for its 4,700 employees.The new stakeholder scheme replaces the existing scheme provided by Winterthur Life and provides Swinton employees with a bespoke pension solution tailored to meet the specific requirements of the UK ...
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Article
Oprah Winfrey treats staff to 10-day cruise
Employers that thought they were generous for allowing staff to leave work ten minutes early on a Friday may be shocked to discover there are even more kind-hearted bosses out there.Chat show queen Oprah Winfrey has bucked the trend of cost-cutting in the recession by treating her employees and their ...
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Article
7,000 BA staff apply for voluntary pay cuts
Nearly 7,000 British Airways staff have applied for voluntary pay cuts in support of the airline's cost reduction programme.Of its 40,000-strong workforce, 6,940 employees had volunteered for unpaid leave, part-time working or unpaid work by June 24. Their actions will save the company up to £10 million.Willie Walsh, British Airways' ...
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Article
BBC top earners' salary and expenses to be revealed
Salary and expenses details of the BBC's top 100 executives and decision makers are set to be published on a quarterly basis from September amid pressure for more transparency.Following a Freedom of Information request, the expenses and salaries of the BBC's 50 top-earning managers have been revealed on its website. ...
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Article
Two thirds of FTSE 100 firms offer flexible working
Two-thirds of FTSE-100 companies keep favour with workers by offering flexible working arrangements.A survey of working practices among the FTSE 100 by ntl:Telewest Business, revealed more than two-thirds (69%) had already taken steps to accommodate the needs of parents, carers and part-time workers ahead of the government introducing extended flexible ...
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Article
Pension Protection Fund makes announcement on 2010/11 levies
The Pension Protection Fund (PPF) has confirmed it intends to stick with its original plan to collect £700million in levies during 2010/11 rather than increasing it.Any employer which has a defined benefit pension scheme, even if this is closed, must contribute towards the finance of the PPF via the levy.PPF ...
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Article
The Pensions Regulator issues statement on recovery plan flexibility
The Pensions Regulator has published a statement emphasising the importance of prudent funding levels for pension schemes, stating that where sponsors are in difficulty, flexibility is available in recovery plans.Following a series of funding workshops, the regulator is setting out its approach to scheme funding valuations and the importance of ...