All articles by Tynan Barton – Page 53
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Article
MetLife Assurance research: Employers could cut back on recruitment to fund auto-enrolment
Employers may cut back on recruiting new staff to fund auto-enrolment, according to research by MetLife Assurance.Although nearly two-thirds (63%) of finance directors have not addressed the issue, 16% among organisations with more than five employees said they would cut back on recruitment in order to fund the new legislation.The ...
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Article
DWP to consult on auto-enrolment earnings threshold
The Department for Work and Pensions (DWP) has announced a consultation on the auto-enrolment earnings thresholds for 2012/2013.The consultation, open until 26 January 2012, seeks views from employers and the employee benefits industry to inform the DWP how to take the review of the figures forward for the first year ...
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Article
Government proposes abolition of short-service refunds for defined contribution pensions
The Department for Work and Pensions (DWP) has proposed the abolition of short-service refunds for defined contribution (DC) pensions in order to protect the pension pots of people who move jobs often.Short-service refunds allow individuals to get their pension contributions back, but leave them without a pension.The DWP has published ...
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Article
Croner research: Significant pay gap between directors at small and large organisations
Directors of small organisations have seen a drop in their pay, while those in large organisations have seen an increase, according to research by Croner.The Directors’ rewards research found that the average 2011 annual pay for directors of small firms, with a turnover of less than £5 million a year, ...
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Article
CBI/Towers Watson research: EU pension regulations would increase costs for UK employers
A proposed European Union (EU) regulation will increase costs for UK employers managing defined benefit (DB) pension schemes, according to research by the Confederation of British Industry (CBI) and Towers Watson. A view from the top – the CBI/Towers Watson pensions survey 2011 found that two-thirds (69%) of employers are ...
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Article
Glassdoor research: US employees prefer cash bonuses to Christmas parties
Employees in the United States would prefer to receive cash bonuses rather than a work Christmas party, according to research by job-listing firm Glassdoor.An online survey revealed that 72% of US employees cited a cash bonus among their top choices for an employer-funded seasonal perk, followed by a pay rise ...
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Article
Electricity Supply appoints pension administration provider
Electricity Supply has appointed Capita Hartshead to provide central administration services for its pension scheme.From 9 January 2012, the pension provider will take over the functions currently provided by Electricity Pensions Services. It will be responsible for overseeing all the central activities required to run the the pension scheme, including ...
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Article
Department of Health announces pension contribution freeze for lower-paid NHS staff
The Department of Health has announced a freeze on pension contributions for more than half a million lower-paid NHS staff.The deal, which affects 630,000 employees, will see the threshold for freezing pension contributions raised from £15,000 to £26,557 for 2012/13.The increases in employee contributions have been distributed among higher earners ...
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Article
Coloplast introduces flexible benefits scheme for staff
Medical devices company Coloplast has introduced a flexible benefits scheme for employees.The scheme aims to give staff a chance to improve their health and wellbeing by offering discounted gym membership, health screening, and dental insurance.The scheme also includes the opportunity to buy or sell holiday, and make changes to certain ...
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Article
Association of Consulting Actuaries publishes paper on public sector pensions
The Association of Consulting Actuaries (ACA) has published a discussion paper on bridging the gap between private and public sector pensions.In the paper, Placard, which was published on 28 November, Michael Johnson, research fellow for the Centre for Policy Studies, said market-linked pensions should be adopted for the entire public ...
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Article
Bank of England tells banks to curb bonuses
Mervyn King, governor of the Bank of England, has urged banks to curb bonuses in order to protect themselves and businesses from the eurozone debt crisis.In the Financial Stability Report, published 1 December 2011, the Bank of England’s interim Financial Policy Committee (FPC) recommends that distributions – payments of dividends ...
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Article
London School of Hygiene and Tropical Medicine signs deal to replace personnel and payroll system
The London School of Hygiene and Tropical Medicine (LSHTM) has replaced its personnel and payroll system.The national school of public health will use Northgate Arinso's ResourceLink Aurora system for HR, payroll, self-service and web reporting for its 3,000 staff.The system will also ensure LSHTM meets HM Revenue and Customs (HMRC) ...
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Article
Bupa research: HR teams take measures to tackle winter absence
Over three quarters (78%) of human resources professionals have implemented policies to try to reduce staff absence in December, according to a poll by Bupa.The Bupa December survey found one-third (33%) of organisations call staff in for questioning if they have more than three isolated days of sickness absence in ...
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Article
Simplyhealth research: Tax breaks on PMI provision will ease burden on NHS
Over half (55%) of senior managers with HR responsibilities believe organisations should be given tax breaks to provide all staff with private medical insurance (PMI) and ease the burden on the NHS, according to research by Simplyhealth.The research findings follow Dame Carol Black and David Frost’s review into sickness absence, ...
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Article
Autumn Statement 2011: Government plans to cut health and safety rules for small employers
Health and safety regulations for smaller employers will be cut.In the Autumn Statement 2011, Chancellor George Osborne announced that the government has accepted the recommendations of Professor Lofstedt’s Reclaiming health and safety for all review, which was published yesterday.The recommendations include:exempting self-employed people posing no risk to others from health ...
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Article
Autumn Statement 2011: Public sector pay increases to be capped at 1% for two years
In his Autumn Statement 2011, Chancellor George Osborne announced that pay increases for public sector employees will average 1% for each of the two years after current pay freezes end.The announcement comes the day before thousands of public sector workers plan to strike over changes to their pensions.Delivering the statement, ...
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Article
Rolls-Royce agrees pension longevity swap
Rolls-Royce and the trustees of its pension fund have agreed a longevity swap to provide additional security to members of its final salary scheme.The deal with Deutsche Bank reduces the risk on approximately £3 billion of the fund’s liabilities and covers around 37,000 Rolls-Royce pensioners.Under the longevity swap, if pensioners ...
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Article
Buyer's guide to healthcare trusts
Focus on factsWhat is a healthcare trust?Healthcare trusts are a method of providing self-funded medical cover to employees. An employer will typically appoint a third-party administrator to manage a trust. The claims fund is based on the estimated value of an employer’s claims over a year, and will pay out ...
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Analysis
Long-service awards still have value
If you read nothing else, read this…Long-service awards are considered one of the most important forms of recognition because they reward staff for loyalty to the business.Awards may be offered after three, six or 12 months at organisations that recognise staff may not be in a role for long and ...
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Case Studies
Case study: Asda staff check out regular rewards
Asda ensures long-service awards are well celebrated. As well as celebrating one year’s service, the supermarket rewards staff at five year intervals.After completing one to 10 years’ service, employees receive a certificate and a pin badge recognising their loyalty. After 15 and 20 years’ service, they are given a monetary ...