All articles by Tynan Barton – Page 60
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Mercer research: Pay regulation creates unlevel playing field in financial services
European and US pay regulations have created an unlevel playing field in financial services, creating a disadvantage in the competition for high-performing staff, according to a survey by Mercer.Its Global Financial Services Executive Incentive Plan Snapshot Survey, shows European banks may have to pay more to attract top talent to ...
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Aon Hewitt research: European pension schemes plan to de-risk
Pension schemes across Europe have placed de-risking at the top of the agenda, according to research by Aon Hewitt.Its Global Pension Risk Survey 2011 found that five times more respondents than in the last survey published in 2009, indicated they are now viewing their scheme over a 20-year period to ...
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Pension Corporation research: Trustees plan to cut equities allocation
Almost three-quarters (73%) of occupational pension trustees plan to reduce their allocation to equities in the next year, according to research by the Pension Corporation.The Future of Pension Funds 2011 survey of trustees found that 22% expect to receive company assets, such as property, in lieu of cash contributions to ...
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Heineken rolls out pre-paid eyecare voucher scheme for staff
Heineken has introduced a pre-paid eyecare voucher scheme for its 2,200 UK staff.The brewer started working with Specsavers in June to provide safety eyewear and visual display user (VDU) vouchers for staff.Heineken has staff in manufacturing roles as well as field- and home-based workers.Olivia Campbell, occupational health development manager, said: ...
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Buyer's guide to off-the-shelf voluntary benefits
Key factsWhat are off-the-shelf voluntary benefits packages?These are prearranged schemes that give employees access to retail offers and discounts. The benefits can be accessed through an online portal, a paper benefits booklet or telephone service. Employees can also purchase reloadable cards for use at various outlets.Where can employers get more ...
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Group Risk Research 2011: Benefits on offer
Critical illness insurance has increased in popularity as a voluntary benefit, while income protection for expatriate staff is also on the rise, says Tynan BartonEmployers are more likely to offer life assurance/death-in-service benefits to staff as a core benefit, rather than through an employee-paid voluntary benefits scheme. This may be ...
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Group Risk Research 2011: Actions taken
Employers continue to seek economies, with many reviewing their providers or advisers and the fees or commission they pay, says Tynan BartonThe economy has put pressure on employers to cut the cost of their group risk benefits, as cited by 48% of respondents. Over half (58%) have reviewed their providers ...
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Group Risk Research 2011: Current issues
Many employers are unconvinced of the effectiveness of fit notes and other government reforms in helping to reduce sickness absence, says Tynan BartonOn 6 April 2010, the Department for Work and Pensions introduced the fit note to replace doctors’ sick notes, switching the focus from what a person cannot do ...
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MetLife research: Employees fail to plan for financial security
Employees are failing to act on fears for financial security by planning for retirement, according to new research by MetLife.Despite the global financial crisis, the MetLife 2011 International Employee Benefits Trends Survey found that many employees across Australia, Brazil, India, the UK and Mexico, under-save, lack retirement planning and irregular ...
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Heineken UK introduces new defined contribution pension scheme
Heineken has introduced a new defined contribution (DC) pension scheme as part of changes to its pension provision for existing and new employees.As part of the changes, the beer and cider firm has also closed its defined benefit (DB) scheme to new employees and stopped future accrual for existing employees.The ...
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Close Asset Management research: Most employers with a low take up of benefits do not offer financial education
Many employers (92%) that suffer from a low take up of benefits do not offer financial education to staff, according to research by Close Asset ManagementThe research, conducted among 2,000 employers in the UK, found that 83% of organisations that suffer from low uptake have not looked at how to ...
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Public sector workers strike over pensions reform
Thousands of public sector workers have gone ahead with strike action today (Thursday 30 June) over plans to reform pay and pensions.The reforms include increasing the contributions that public sector employees pay into their pensions.Prime minister David Cameron said public sector pension reform is essential and would secure affordable pensions ...
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Pensions Management Institute appoints new president
The Pensions Management Institute (PMI) has announced the appointment of Susan Andrews as its new president.Andrews will take over from current president, Mike Sullivan, at the PMI’s annual general meeting on 7 July 2001.Andrews was elected to the PMI council in 2001 and became vice president in 2010. She chaired ...
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IDS research: FTSE 100 directors' pension pots reach £2.8 million
FTSE 100 board directors now receive final salary pensions worth on average £2.8 million, according to research by Incomes Data Services (IDS).The Executive Compensation Review found that, when converted into an annual pension, the £2.8 million pot could buy an employee a pension annuity worth more than £170,000 a year.The ...
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Infoteam introduces voluntary benefits scheme
Infoteam has introduced a voluntary benefits scheme.Working with Personal Group, the electronics repair and remanufacturing firm introduced the scheme in May. It includes discounts on retail shopping and holidays, as well as perks like discounts on magazine subscriptions and breakdown cover.The scheme, which is available to Infoteam's 500 employees across ...
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Globoforce launches employee recognition application for smartphones
Globoforce has launched an HR application for smartphones to enable employers to ensure staff recognition and appreciation keeps pace with behaviour and performance.The application, Globoforce Mobile, allows managers and employees to give, receive, approve and redeem recognition awards anywhere and at anytime.In addition, with Globoforce Mobile, employees who have received ...
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Admiral Group staff share £1.6m bonus pot
Admiral Group has shared a bonus payout of £1.6 million among its 2,500 employees.The payout is made up of dividends paid to staff participating in the car insurance group’s approved share incentive plan (Sip) and a bonus linked to staff holdings in its discretionary free share scheme (DFSS).The bonus is ...
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Aon Hewitt research: UK employers unprepared for auto-enrolment
UK employers are not ready for auto-enrolment as part of the 2012 pension reforms, with a significant proportion yet to start preparations, according to a poll of conference attendees by Aon Hewitt.The poll results found that over a third of the respondents' schemes had yet to undertake pension contribution cost ...
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Mercer launches diversified growth fund for workplace savings
Mercer has launched a diversified growth fund for its workplace savings offering.The fund, which will make up the core of the default offering, will give members access to asset classes and investment strategies not usually open to them.The fund is suitable for defined contribution (DC) schemes, in terms of liquidity ...
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Employee Benefit Summit 2011: Sick pay is a privilege, not a right
Sick pay is a privilege, not a right, according to Dr Sayeed Khan, board member of the Health and Safety Executive.Speaking at the Employee Benefits Summit 2011, Khan, who is also a special professor in occupational health at the University of Nottingham, explained employers should make it a clear policy ...