All articles by Tynan Barton – Page 83
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Catlin adds bicycles and discounts to voluntary benefits
Catlin has introduced new voluntary benefits after a full market review and benchmarking exercise.To offer a package to better meet the needs of its 739 staff, the insurer and reinsurer has added a cycle-to-work scheme, an online retail discount scheme and negotiated discounts for health screening. It has also switched ...
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Buyer's guide to voluntary benefits (July 2010)
Key factsWhat are voluntary benefits packages?A package of products and services offered to workforces, that benefit from group discounts. They are cheap to run and the benefits are paid for by staff. They are commonly offered online by a third-party provider.Where can employers get more information?See more articles and news.Who ...
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BA enters into £1.3bn buy-in deal for defined benefit pension scheme
British Airways (BA) pension trustees have signed a buy-in deal with Rothesay Life for one of the airline's defined benefit (DB) schemes.The life insurer, a subsidiary of Goldman Sachs, will insure £1.3 billion of pension liabilities of the Airways Pension Scheme.The transaction is a buy-in deal under which trustees will ...
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Baby boomers face shortfall in retirement income
The baby boomer generation may experience a shortfall in retirement finances.Aviva as found that over half of 55s who currently earn between £20,000 and £30,000 a year have saved less than £30,000 for their retirement, which translates to an income of £165 per month.Clive Bolton, ‘at retirement’ director for Aviva ...
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Employees intend to work beyond state retirement age
More than 68% of UK adults intend to work beyond their current standard retirement age, and one in ten believe they will not ever stop working, according to research from Aviva.The Real Retirement Report (May 2010) found that UK workers' attitudes to retirement have shifted somewhat from when the research ...
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Jaama offers free trial of fleet management software
Jaama is offering a free three-month trial of its new fleet management software specially designed for businesses running small fleets.The fleet management software provider launched its web-based fleet system to assist employers in coordinating and managing fleet data while reducing operating costs.FleetAssistant also targets managing the duty of care for ...
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Employers welcome flexible working legislation
Over half of employers (55%) welcome the government's plans to introduce legislation requiring them to offer flexible working to all employees, according to research from recruitment firms Hays.The survey found that 70% of employers expect an increase in requests for flexible working and 40% are preparing for a resulting impact ...
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Financial education needed earlier
Some 84% of employers provide financial education, access to financial advice, or both, to support staff when they reach retirement, but just 38% offer education on more general topics.However, Wealth at Work’s report Is the financial wellbeing of your employees important? shows 76% of employers think this is likely to ...
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Scope renews vehicle management contract with Leasedrive Velo
Disability charity Scope has renewed its vehicle management contract for a further three years with Leasedrive Velo Group.The new agreement will include contract provision for new vehicles and ongoing fleet management of 225 vehicles, as well as accident management services and short-term vehicle rentals.Roddy Graham, commercial director, Leasedrive Velo, said: ...
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Cars remain powerful attraction and retention tool for multinational employers
Car benefits remain an important component of employee pay packages for multinational employers, according to a new study from Mercer.Its International Car Policies report found that prevalence of company cars, purchase price, annual allowance paid in lieu of a car or to subsidise car-related expenses, eligibility and frequency of additional ...
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McCarthy and Stone Group appoints new fleet supplier
McCarthy and Stone Group, the retirement property builder, has appointed Alphabet to supply vehicles and accident management for its 200 strong car fleet.As part of its health and safety compliance procedures, McCarthy and Stone will use Alphabet’s driver licence checking service for all drivers and authorised users of company vehicles.The ...
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Axa research: Financial worries prompt stress related absence
A high proportion of UK employees suffer physical and mental stress over financial worries, according to a new report from Axa.The Money sickness syndrome report found that as many as nine out of ten adults suffer symptoms arising from stress, one of the most common causes of workplace absence.The study ...
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BT cuts pension deficit by £1.4 billion
The BT Pension Scheme (BTPS) has reduced its deficit by more than £1.4 billion due to an increase in assets by £2.8 billion.The pension scheme’s annual report revealed that at the end of 2009 the deficit had fallen from £9 billion to £7.6 billion.The BTPS saw an overall investment return ...
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Panasonic to launch flexible benefits scheme
Panasonic is to introduce a flexible benefits scheme and total reward statements.The electronics company is to launch its flex plan on 1 August in order to offer more choice around benefits for staff. The scheme will include a group personal pension (GPP) plan, cycle-to-work scheme and childcare vouchers, all of ...
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Staff expect more employers to invest in health and wellbeing
Over half (56%) of employees expect their employers to invest in their health and wellbeing but just 16% of workers say their organisation has done so.According to research by Bupa, Workplace Health: A Worthwhile Investment, 15% of employers offer private medical insurance to employees, 12% of employers provide advice and ...
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Judgement on Pilots’ pension deficit case brings clarification for employers
The High Court judgement on the Pilots’ National Pensions Fund (PNPF) deficit case brings clarification for pensions schemes on what is classified as an employer with regards to pension liabilities.Following the ruling, employers that believed they were free of obligations to contribute to under-funded schemes may still be eligible for ...
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Barratt launches payroll Isa
Barratt, the house builder firm, has introduced a company individual savings account (Isa) for employees.The Barratt Isa, which is provided by Legal and General, will offer employees the same tax efficiency as a personal Isa, but with lower management charges and the ability to make payments via payroll deductions.The Barratt ...
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Mercer to acquire ORC Worldwide
Mercer has signed an agreement to acquire ORC Worldwide, to further strengthen its services as a global provider of human resource intelligence.Mercer and ORC are both known for their employee mobility information and related administrative applications, international talent management consulting, and compensation and workforce data.Ilya Bonic, senior partner and global ...
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Government announces independent review of auto-enrolment
The Department for Work and Pensions has announced plans for an independent review to look at how to make auto-enrolment work.Secretary of state for work and pensions Iain Duncan Smith and pensions minister Steve Webb plan to ‘fundamentally reform and repair’ Britain’s pension system.Duncan Smith said: “Britain used to have ...
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Halfords employees take part in charity bike challenge
Over 400 Halfords employees took part in a cycle relay challenge across the UK to raise money for Macmillan Cancer Support.The Halfords Charity Bike Challenge commenced on 14 April in Halfords most northerly store in Elgin, Scotland, and was completed on 31 May in Penzance, the most southerly store.Each of ...