All articles by Tynan Barton – Page 76
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Analysis
Voluntary benefits: Employers can add value while controlling costs
If you read nothing else, read this …Voluntary benefits can play an important role in overall reward strategy by giving employees a total view of their reward package and the benefits available to them.The savings made through voluntary benefits can be shown as an approximate value on total reward statements.Developing ...
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Article
Interview with Stephen Dumbleton, reward manager at Airbus Operations
Stephen Dumbleton, reward manager at Airbus Operations, has seen his career climb steadily after implementing a flex scheme and other initiatives to prove the value of reward, says Tynan BartonWith a career spanning two decades at Airbus Operations, reward manager Stephen Dumbleton has faced his fair share of challenges in ...
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Article
Employee Benefits Live 2010: Emotional resilience key to wellbeing
Emotional resilience is key to creating a culture of health and reducing stress, according to public services and design consultancy, Amey.Speaking at Employee Benefits Live 2010, Mark Bradshaw HR director, reward, and Helen Knight, wellbeing manager, said Amey’s wellbeing campaign has helped employees build their emotional resilience - the ability ...
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Article
Origen research: SMEs warned on auto-enrolment
More small and medium enterprises (SMEs) are offering their employees access to a pension scheme when they join the organisation, according to Origen Financial Service's Employee benefits survey.The research found 56% of SMEs offer staff immediate access to their pension schemes, compared with 45% in 2009. In addition, 80% of ...
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Article
Puma to launch flexible benefits scheme
Sportswear company Puma is to introduce its first flexible benefits scheme in January 2011.The scheme, provided by AWD Chase de Vere, will include childcare vouchers, bikes for work, critical illness cover, dental insurance, health screening, discount travel insurance, and Gymflex gym membership.Staff will also be able to donate to charity ...
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Article
Legal and General launches two new financial education modules
Legal and General has launched two more interactive modules to help employees gain a better understanding of their finances.As part of its workplace saving platform, WorkSave, Legal and General has released two new true-to-life scenarios featuring the fictional Cash family to help employees manage money and find financial help.The scenarios ...
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Article
GMG Radio to provide healthcare cash plans
GMG Radio has signed a contract with Medicash to provide employees with healthcare cash plans.The cash plans will give the 400 GMG Radio employees a range of benefits, including dental and optical care, as well as access to complementary therapies and discounted gym membership.The national radio business, which encompasses the ...
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Article
Inchcape Fleet Solutions launches salary sacrifice company car scheme
Inchcape Fleet Solutions has launched a salary sacrifice company car scheme with risk elimination following demand from employers.The Justdrive scheme delivers a range of flexible insurances to safeguard employers against unforeseen termination charges if an employee leaves the company.An online portal will help employees in the decision making process with ...
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Case Studies
Case study: Oscar Mayer employees join the voluntary benefits club
Food production company Oscar Mayer launched an employee benefits club in 2000 to give all staff the opportunity to take up voluntary benefits.†The club was initiated by company owner and chairman John Bigwood because, like most similar organisations at that time, benefits were provided for its managing directors and senior ...
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Article
Teignbridge District Council to consider benefits cuts
Teignbridge District Council is to look into potential savings that could be made from reductions in employee benefits.In a meeting on Monday 29 November, the council will consider proposals that include ending essential car allowances, either only for those who travel less than 1,000 miles per year, or for all ...
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Article
Employers believe staff are responsible for own financial education
The majority of employers (83%) believe it is the individual’s responsibility to educate themselves about financial matters, according to a new report from the Pensions Management Institute (PMI) and Standard Life.The DC Pulse research also found that just 34% of employers reported a take-up rate of more than 80% in ...
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Analysis
Is an active or passive default fund best for DC pension schemes?
If you read nothing else, read this...Passively managed default funds are set up to track various indices, for example the FTSE 100. The fund is managed by a computer program linked directly to the stock market that is being tracked.Actively managed funds, using human intervention, aim to outperform indices.Passive funds ...
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Analysis
New accounting standards will affect car lease arrangements
If you read nothing else, read this…A final standard of the lease accounting amendments by the International Accounting Standards Board will be published next year.The amendments will require employers to show leased assets, including cars, on their balance sheets. The changes will affect all employers that account to IASB standards.The ...
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Article
Inmarsat holds health and wellbeing day
Satellite operator Inmarsat will hold a health and wellbeing day on 23 November, when providers, including the firm's private doctor, dental providers and the local gym, will talk to staff about the perks on offer.This is the sixth year Inmarsat has run the event. Many of its 400 UK employees ...
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Article
Scottish Life extends use of Origo's Options tool to pension transfers
Scottish Life has extended the use of Origo’s web-based Options tool to include pension transfers.The move follows the introduction of Options for open market options (OMO) in July 2010.The Options tool, which facilitates the exchange of information between providers, has seen average OMO processing times fall from an industry average ...
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Article
Aegon to sell pensions administration business to Goddard Perry
Aegon UK has agreed the sale of its third-party pensions administration business to employee benefits consultancy Goddard Perry.The sale means 82 jobs will be saved, because Aegon had announced plans to close this business on 28 September 2010 as part of its UK development strategy.Goddard Perry approached the pensions provider ...
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Article
Aon Hewitt research: UK salaries set to grow by less than inflation
UK salaries increases are expected to rise but will still be below current inflationary levels.The Aon Hewitt 2010/2011 European Salary Increase Survey found that the average UK salary is expected to rise from 2.5% in 2010 to 2.7% in 2011.However, salary increases are still far below the 2007 pre-recession levels ...
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Article
Organisational change is a top stress factor for public sector
Organisational change is one of the top three stress factors for public sector workers, according to a new survey from the Chartered Institute of Personnel and Development (CIPD).Its Absence Survey, published in partnership with SimplyHealth, found nearly half (56%) of public sector employers cited organisational change/restructuring as a key cause ...
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Article
Uniq proposes equity swap with pensions fund
Uniq has proposed swapping the majority of its shares with its pension scheme to plug its deficit of £436 million.The chilled food company is seeking approval from the Pensions Regular to implement the deficit for equity swap with a partial share buy-back from the pension fund.The proposal will involve an ...
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Article
CSR: Equitable Life policyholders to get £1.5 bn compensation
In his Comprehensive Spending Review (CSR), Chancellor George Osborne announced that £1.5 billion will be available to compensate Equitable Life policyholders.The full cost of losses to ‘with-profits annuity’ policyholders, which amounts to approximately £620 million, will be covered by the government.Osborne recognised that these policyholders were hit the hardest when ...