All Employee Benefits articles in Web Issue – Page 233
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Pay rises set to shrink during the recession
The size of an average pay rise will shrink in 2009 as employers try to keep a tighter reign on pay awards during the recession.According to research released by Labour Market Outlook (LMO), one in eight employers do not plan to make any pay increase at all this year as ...
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Barclays to slash 2008 bonuses by half
Barclays has announced it will halve the amount it pays out in employee bonuses for 2008.It will also review its bonus structure.John Varley, Barclays' chief executive, said the changes reflected the bank's payment for performance policy.He spoke as Barclays posted its annual reports for 2008, which showed a 14.8% drop ...
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International Employee Benefits Senate
International Employee Benefits Senate 2009This event has been postponed. Date to be confirmed.Organised by Employee Benefits MagazineEmployee Benefits is running it’s 2nd International Employee Benefits Senate in London.This senate will give you insight to what top employers of choice are doing, plus current market developments so you can be sure ...
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Nominet holds wellbeing week
Nominet has held a wellbeing week for employees, which was designed to improve their performance at work by boosting health and fitness levels.The organisation, which is the registry for .uk domain names, themed the week around new year's resolutions with activities focused on typical goals such as losing weight and ...
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Consultation on tips for waiters ends
The government consultation into tips and service charges ended on 11 February, amid strong public support for waiting staff to get 100% of their tips.Hotel and restaurant workers want to make it illegal for employers to use employees' tips to top up pay to meet minimum wage levels.A group of ...
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East Midlands Trains launches recognition scheme
East Midlands Trains has launched a new recognition scheme for employees.Through its Stars programme, managers can issue thank you cards to staff who are seen to support the company's values of respect, professionalism, teamwork, honesty and communication.In the second phase of the scheme, employees will be able to nominate colleagues ...
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BT to pay £16.6m into PPF after European ruling
British Telecom (BT) will have to pay the Pension Protection Fund (PPF) £16.6 million.It follows a European Commission decision that a Crown guarantee which exempts BT from paying full levies to the PPF is partially illegal.The guarantee safeguards the pension of BT employees, who were working at the firm at ...
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Sea Containers gains approval for its financial arrangement to support two pension schemes
The Pensions Regulator has approved the financial support arrangements of Sea Containers Limited (SCL) for two of its UK group pension schemes.The two schemes are the Sea Containers 1983 Pension Scheme and the Sea Containers 1990 Pension Scheme.The arrangements formed part of an innovative plan to exit SCL's Chapter 11 ...
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Indian zoo workers strike over pay and healthcare benefits
Employees at an Indian zoo, which breeds tigers, panthers and crocodiles, have launched a strike over pay and health care benefits.According to reports, casual workers said that their job involves risks, so they believe they should receive health and social security benefits.However authorities claim to have arrangements in place should ...
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Pension Protection Fund takes a further three schemes under its wing
In January the Pension Protection Fund (PPF) took a further three pension schemes under its protection.The schemes were: the Project Office Furniture Retirement Benefit Plan; Davies and Newman Pensions Plan and the Newton Derby Pension and Life Assurance Scheme.The Project Office Furniture Retirement Benefit Plan was run by the Workspace ...
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Pension Regulator reappoints non-executive directors
The Pensions Regulator has reappointed two non-executive directors, Alan Pickering and Chris Swinson, for a further four-year term.Pickering and Swinson began their new contract on 8 February, having already served a four-year term as inaugural non-executive directors.David Norgrove, Pensions Regulator chairman, said: "I am delighted that Alan Pickering and Chris ...
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Drop in inflation prompts calls for public sector pay freeze
A drop in inflation has promoted calls by the The Chartered Institute of Personnel and Development (CIPD) for a pay freeze for public sector workers.It comes as the Office for National Statistics (ONS) confirmed that the inflation rate, measured by the Retail Prices Index (RPI), fell to just 0.1% in ...
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Unum revamps its group income protection
Unum has revamped its group income protection (IP) products in order to cut costs and appeal to a wider business audience.The changes came into force on 2 February for new and existing customers and cover both policy conditions and pricing.Changes include an immediate reduction in the pricing structure on all ...
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30% pay drop expected for housing association staff
The economic downturn has had a significant impact on pay budgets in the housing sector, with associations cutting the estimated average pay awards by almost 30% since the autumn.A survey from Smith & Williamson, the accountancy firm, shows that the reward expectations in housing associations have dropped by almost 30% ...
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Employers allowed to renegotiate pension fund deficit payments
Employers battling to repair pensions deficits may be able to renegotiate their repayment plans, according to new guidance issued by The Pensions Regulator (TPR).TPR has recognised that in the current economic climate it needs to apply the scheme funding system pragmatically and may need to renegotiate previously agreed plans.David Norgrove, ...
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ITV freezes pay for senior staff
ITV has frozen pay for its senior employees at a time of falling advertising revenues.The broadcaster has told the board, senior leadership, and all employees earning over £60,000 a year they will not receive a pay rise this year.It has also announced it will impose below inflation pay rises on ...
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RBS Group axes profit-share scheme
RBS Group has axed its profit-share bonus scheme as part of a wider a government agreement over the future of pay and reward at the bank.The existing profit-share share bonus scheme, worth 10% of salary, will not be paid for 2008 and will be axed for all future years.However an ...
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Toyota freezes pay and bonuses
Toyota has frozen pay increases and ruled out management bonuses at its UK operations this year and is discussing further action to reduce labour costs to cope with the downturn in demand.The Japanese car-maker's 4,500 UK employees were informed of the moves this week as the firm reacts to a ...
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Government launches back to work pilot scheme for long-term sick
The government has launched a new £13 million pilot scheme to help people on sick leave get back to work quicker.The Fit for Work pilot programme will test a range of back-to-work support to see what works best.Each pilot test will be personalised and include advice on a range of ...
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Hewlett-Packard cuts pay and benefits
Hewlett-Packard is reducing employee compensation and benefits following a drop in profits.The international technology firm, which employs about 20,000 staff in the UK, plans to cut employee pay by 5%, although for some workers it will be 2.5%.It announced the changes during its first-quarter earnings conference call in which it ...