All Employee Benefits articles in Web Issue – Page 280
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Few private sector employees see pensions as best retirement option
Fewer than half of private sector employees regard pensions as the best way to save for retirement, despite employers' attitudes that pension provision is a core part of their reward package.According to research carried out by the Chartered Institute of Personnel and Development (CIPD) and BlackRock, only 28% of private ...
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Employees divided on changes made to reward
Employees are divided on how they receive changes to their reward package during the recession, according to research by PricewaterhouseCoopers (PWC).The study surveyed over 700 UK workers who have been impacted by changes to their reward (pay, benefits and bonuses), working hours or who work for organisations that have made ...
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Aer Lingus proposes pay cuts and pension changes
Aer Lingus has outlined proposals to cut employees' pay for those earning above €35,000 per year and introduce a new defined contribution pension scheme for the future service of all employees as part of a 'transformation plan' designed to significantly cut costs.The first stage of the plan is aimed at ...
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Boris Johnson grills Jeremy Paxman about pay
Jeremy Paxman’s defensive behaviour in response to Mayor of London Boris Johnson’s persistent questioning about his reputed £1 million salary suggests he won’t be the first employee to whole-heartedly embrace the ethos of the forthcoming Equality Bill, which will make it easier for workers to discuss what they earn with ...
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Employer pension contributions vary by sector
Financial services employers are the most generous when it comes to contributing to employees’ defined contribution (DC) pension pot, while those in the leisure/travel industry are the least generous, according to research by Aon Consulting.The 2009 Aon Benefits and Trends Survey, which polled 650 organisations across 13 sectors in the ...
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NAPFconference: Employee confidence in pensions returning
Employee confidence in pensions has improved since the end of last year, when the economy went into recession, according to the National Association of Pension Funds (NAPF).Confidence stood at 11% at the end of September this year, up from 7% in March and its low point of 1% at the ...
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Financial services workers expect bonus despite recession
Most financial services professionals (82%) in London expect to receive a bonus in the forthcoming 2009/10 round, despite the economic downturn, according to research by Morgan McKinley.Furthermore, the survey showed that almost eight out of ten (79%) of these individuals expect to receive a similar (40%) or higher (39%) bonus ...
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Volkswagen, Daily Mail and RNLI awarded pension quality mark
Volkswagen Group, the Royal National Lifeboat Institution (RNLI), International Power, the Wood Group and the Daily Mail and General Trust are the latest employers to be awarded Pension Quality Marks by the National Association of Pension Funds (NAPF).The awards, which were made at this year’s NAPF conference, are intended to ...
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Article
Employers could integrate time flexibility into flexible benefits plans
Time flexibility is a future trend for flexible benefits, according to new research by Hewitt Associates.Its report, Flexible benefits in the UK: a compelling solution, found that in terms of longer-term development, 51% of the participants suggested time flexibility was likely to be integrated with flexible benefits.Martha How, head of ...
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UK boardroom pay drops 10%
UK plcs have squeezed senior executive pay and benefits in response to the recession, according to new figures from global management consultancy Hay Group.Hay Group’s Executive Compensation Report 2009 is based on analysis of salaries and incentives paid to almost 12,000 senior executives at close to 500 organisations during the ...
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National House Building Council selects Zenith Provecta for fleet management
The National House Building Council (NHBC), the warranty and insurance provider for new homes in the UK, has outsourced its 650-strong vehicle fleet to Zenith Provecta.Zenith Provecta will be responsible for all aspects of NHBC’s fleet management, including online quoting, ordering, maintenance, accident management, hire car, risk and re-marketing management ...
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Danish pension fund provider pulls out of running for personal accounts administration
Danish pension fund and administration provider Arbejdsmarkedet Tillaegspension (ATP) has pulled out of the race for the personal accounts administration contract.The Personal Accounts Delivery Authority (PADA) confirmed that ATP had withdrawn from the bidding process on the grounds that providing services for personal accounts does not fit with its "commercial ...
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Babcock International Group conducts second longevity swap
Babcock International Group has entered into a longevity swap for a second defined benefit (DB) pension scheme.The firm implemented the first ever longevity swap for a UK pension scheme earlier this year.The new 50-year swap agreement, with Credit Suisse, hedges out mortality risk for an additional 7,00 pensioners, as well ...
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Cancer charity appoints Jane Vivier
Cancer Research UK has appointed Jane Vivier as reward and recognition manager.Vivier, who left her previous position as senior reward manager at the UK Border Agency at the end of August, started work at Cancer Research UK in September.She previously worked at Kent County Council as a reward adviser.
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Arsenal sign Trevor Saving
Arsenal Football Club has appointed Trevor Saving as head of people and operations. Saving has previously held senior management positions at several organisations, including Marsh and McLennan.He has also co-ordinated global HR functions and organisational strategy for Pepsi Co, Revlon, Levi Strauss and Dunlop International.Saving joined Arsenal about the same ...
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Bill O'Shaughnessy joins BA
British Airways has brought Bill O’Shaughnessy on board as head of industrial relations strategy.O’Shaughnessy joined BA in September after spending just over a year as deputy HR director at the Department of Transport.Prior to this, he was deputy director of employee relations and reward at the UK Border Agency.
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New guidance on flexible working launched
The Equality and Human Rights Commission has launched new flexible working guidance aimed at improving employee productivity, lowering business costs and meeting the needs of modern families.Working Better: The managers’ guide to flexible working was launched by Commission chair Trevor Phillips at the Greater Manchester Chamber of Commerce’s Annual General ...
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Vauxhall workers face two-year freeze on pay
Almost 5,000 UK employees at car manufacturer Vauxhall are to face a two-year pay freeze as the company looks to make savings of £265million across Europe.Employees will not receive their regular pay rise as part of the cost-cutting drive, which has been agreed by Vauxhall, the company’s owners Magna, trade ...
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City workers set to spend bonuses on plastic surgery
Signs of economic recovery may not only be apparent in the rise of the FTSE but also in the inflated chests, flatter tummies and botox-paralysed faces of city workers.Sleepless nights over plummeting share prices might not be the only reason why some employees look tired out during a recession as ...
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Agency Workers Regulations delayed
Employers have now been given until autumn 2011 to comply with the Agency Workers Regulations, it was announced by the government today.The delayed legislation seeks to give temporary and contract workers the same rights after 12 weeks as permanent employees in areas of benefits such as pay and performance bonuses, ...