All articles by Tynan Barton – Page 80
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Article
Catlin adds total reward statements in US and sharesave in Malaysia
Insurance firm Catlin has launched online total reward statements in the US and extended its sharesave scheme to employees in Malaysia.The company launched the US statements at the beginning of August, following the UK launch in April 2010. It is now working on rolling statements out in Europe later this ...
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Article
Proposed reform of local government pensions
The London Pensions Fund Authority (LPFA) has set out proposed measures to reduce the costs associated with the Local Government Pension Scheme (LGPS).LPFA's recommendations include linking pension payments to the consumer prices index (CPI), rather than retail prices index (RPI), increasing the retirement age to 66 from 2016 and changing ...
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Article
Alliance Boots offloads pensions liabilities
Alliance Boots has outsourced multi-million-pound pension liabilities to the Pension Insurance Corporation (PIC) as part of efforts to ensure the long-term security of benefits accrued in its final salary scheme.As part of the buy-out arrangement the trustees of the Alliance UniChem UK group pension scheme, which has around 3,000 members, ...
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Article
Employers increasingly recognise value of company cars
More employers are recognising the importance of company cars and giving drivers more choice.The latest Company Car Trends Survey by GE Capital Fleet Services revealed nearly half (42%) of fleet managers recognise the importance of company cars as a key recruitment and retention tool, compared to just one in three ...
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Article
Aon Consulting to launch benefits management platform
Aon Consulting is to launch a benefits management and broking software platform, The Benefits Solution (TBS).The platform will allows Aon and employers to manage employee benefits on a single system. The Benefits Solution consists of a member administration database with procurement tool, a workflow system, a document repository and a ...
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Article
Friends Provident launches absence tracking system
Friends Provident has launched a new absence tracking system that aims to help employers monitor absence trends and calculate the cost of employee absence.The system evaluates absence by department, reason and days of the week, and includes a cost of absence calculator.It can work alongside an employer’s existing absence management ...
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Analysis
Ethical investment of pension funds
If you read nothing else, read this...Ethical investment funds enable staff to invest pension contributions in companies that have ethical practices.More employers are offering an ethical pension fund option.A fund can actively seek to invest in organisations considered to be ethical, or screen out those considered to be involved in ...
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Article
Bluefin to launch flexible benefits product for SMEs
Bluefin is to launch an off-the-shelf flexible benefits product aimed at small and medium businesses.The Blueprint product, which is designed for employers with 300 or less employees, will cost less than a bespoke flexible benefits scheme due to its pre-packaged nature.It works on a pre-built website and includes a predetermined ...
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Analysis
Flexible benefits: Profile - BG Group
Oil and gas company BG Group has a far-flung workforce, which presented challenges when implementing a flex scheme, says Tynan BartonImplementing a flexible benefits scheme takes time, money, effort and huge commitment from everyone involved, but it will pay dividends in improving staff retention and engagement.BG Group is a great ...
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Article
Annuity rates hit all-time low
Annuity rates have fallen to an all-time low.The steady fall in rates over the summer months follows re-pricing activity among providers.The latest reductions mean the average male annuity rate has dropped by 45.5% over the last 15 years, while female rates have fallen by 41.8%.The average rate for a male ...
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Article
One in three FTSE 100 companies unable to meet pension deficits
Almost a third (32%) of FTSE 100 companies are unable to pay pension fund deficits from current discretionary cash flow, according to KPMG’s Pensions Repayment Monitor.The survey shows companies are spending more on deficits than funding pensions for current staff, with £2 out of every £3 in 2009 being spent ...
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Article
Shop Direct Group proposes to close Littlewoods' final salary pensions
Shop Direct Group, and sister companies Yodel and Transactis, have announced proposals to close the Littlewoods pension scheme to future accrual.The shopping group has entered into consultations with employees over the proposed changes, which could see Littlewoods’ and the Shop Direct Group’s schemes closed to future service accrual from 31 ...
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Article
Private sector pay freezes continue to fall
Pay freezes in the private sector have continued to fall, according to figures from Incomes Data Services (IDS).In its latest pay report, IDS found pay freezes account for just under 15% of deals between May and July.The report found the median pay settlement across the whole economy for this period ...
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Article
Capita Hartshead director to climb Alps for charity
Capita Hartshead director Clive Wickenden and Dave Morris, engagement director for Service Birmingham, (Birmingham City Council's joint venture with Capita Business Services) plan to climb the Alps for charity.The two men are planning a three-day trek aiming to raise at least £5,000 for Macmillan Cancer Support.Wickenden, director of client services, ...
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Article
AstraZeneca staff set pensions strike dates
Employees at AstraZeneca’s Macclesfield factory have set dates for strike action over a pensions dispute.GMB union members will stage two-hour strikes on 8 September, followed by four-hour strikes on 15 September, and for 24 hours beginning at 6am on 22 September.The decision to strike was made after it emerged that ...
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Article
Number of final salary pension schemes falls
The number of FTSE 250 companies that provide defined benefit (DB) pension schemes to all employees has drastically fallen, according to research from Pension Capital Strategies (PCS).The FTSE 250 and Their Pensions Disclosures report found only 15 companies (6%) in the FTSE 250 still provide DB benefits to a significant ...
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Article
New guidance to support return to work for long-term sick
New guidance has been launched to help managers support people returning to work after long term sickness.Manager Support for Return to Work Following Long-Term Sickness Absence, which has been produced by the British Occupational Health Research Foundation (BOHRF), the Chartered Institute of Personnel and Development (CIPD), Healthy Working Lives and ...
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Article
BBC pension deficit to cost licence payers extra £100 million
The BBC has predicted an increase in payments into its defined benefit (DB) pension scheme of £100 million to fill the fund’s deficit.The broadcaster currently pays around £140 million per annum into the scheme, which represents 3.5% of the licence fee.The contribution is expected to rise to around 5% or ...
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Article
Benefits help staff vote Gratterpalm great place to work
Advertising agency Gratterpalm’s latest annual staff survey has revealed that employees voted it a great place to work, partly due to its benefits provision.Gratterpalm’s benefits include private healthcare, childcare vouchers and flexible working.Employees also have the chance to spin the ‘wheel of fortune’ to win prizes that include an extra ...
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Article
Asos.com raises £10,000 since relaunching workplace giving scheme
Asos.com employees have raised more than £10,000 since relaunching its workplace giving scheme in November last year.†The online fashion retailer won the Best Use of Payroll Giving award at this year’s Institute of Fundraising National Awards for the relaunch.Asos.com worked with fundraising organisation Workplace Giving UK to relaunch the scheme ...