All Employee Benefits articles in Web Issue – Page 281
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Xafinity Paymaster launches straight through processing service
Xafinity Paymaster has started live trading with its fund managers after launching its straight through processing (STP) service.The organisation has automated the investment process using two practices called the Altus Instruction Gateway and ViaNova. The latter allows pension administrators to send investment instructions to fund managers electronically over a secure ...
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CIPD to close defined benefit (DB) pension scheme
The Chartered Institute of Personnel and Development (CIPD) has announced it is to close its defined benefit (DB) pension scheme and replace it with a defined contribution (DC) plan.The HR and development professional body, which employs around 300 staff, said its existing DB scheme has suffered from unpredictable swings in ...
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Cigna introduces child rates on dental plans
Healthcare provider Cigna has introduced child rates on its small corporate dental plans.From 1 October, child dependants will be charged at half the price of the full benefit but they will still beentitled to a full benefit allowance.Cigna’s head of product management, Kirsty Jagielko, said: “We recognise that materials, equipment ...
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Ellipse enters group risk market
A new insurer, Ellipse, has entered the group risk market and will focus on providing group life cover through a limited number of major employee benefit consultancies.Part of the Munich Re Group, but operating separately to its UK reinsurance businesses, Ellipse will later add group income and critical illness contracts ...
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City bonuses bounce back by fifty per cent
The bonus payout by the City for 2009 – to be paid at the start of 2010 – is forecast to rise to £6.0 billion, an increase of 50% compared with payments made earlier this year, according to data from the Centre for Economics and Business Research (CEBR).†However, this amount ...
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Research: Age still a sticking-point for employers
Many employers are nervous of discussing age issues with workers as they approach retirement, according to research by the Institute for Employment Studies (IES) and the Policy Studies Institute.However, the An Ageing Workforce - The Employer's Perspective study showed that many businesses are open to making adjustments to the workplace ...
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Mercer research: Employers offer staff choice of benefits
Almost half of UK employers now give employees some form of choice in the benefits they receive, and a quarter of the remainder are also considering doing so, according to research by Mercer.The global survey, of more than 1,700 organisations, showed that the trend to offer benefit choice was notably ...
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Olympic chief defends £250,000 salary for three-day-week
The London 2012 Olympic Games has been praised for the role it will play in regenerating East London - one of the poorest areas in the UK.However, thoughts of the deprived and less advantaged in society did not filter into the consciousness of chair of the Olympic Delivery Authority John ...
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P&MM launches experience voucher
P&MM has launched an incentive voucher that allows employees to choose what travel or experience they want based on the value of the reward they have earned, and decide when, where and how they want to use it.The U-Choose voucher is awarded by employers to staff who then have access ...
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Article
Lloyds Banking Group sells Employee Equity Solutions
Lloyds Banking Group has announced that it has concluded a strategic review of its Employee Equity Solutions (EES) business, resulting in an agreement to sell it to Computershare for up to £40 million.EES offers a complete share plan service to over 400 companies in 100 different countries. This includes a ...
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Employers must ensure staff value life assurance perks
Employers must ensure that workers value life assurance as a benefit and should review their rates to ensure they are getting the best value cover, according to Aon ConsultingAon Consulting's Employee Benefits and Trends Report 2009 found that 95% of companies offer some level of group life assurance to their ...
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Happiness is more important than money for UK employees
Achieving personal happiness and contentment is a top priority for many UK employees and nearly three in five (58%) have said they would choose to earn less money if they could work for a firm that provides them with the time to pursue their interests.According to the O2 Values Working ...
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DWP and Pada publish personal accounts consultation summary
The Department for Work and Pensions (DWP) and the Personal Accounts Delivery Authority (Pada) have published a summary of responses to the joint public consultation on the personal accounts scheme.The document summarises stakeholders’ views to the consultation questions and provides the government’s and Pada’s response.Earlier this year, the DWP and ...
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BA cabin crew face allowance cut
Cabin crew at British Airways face having their compensation allowance cut as the airline continues its efforts reduce employment costs.The airline has proposed to scrap staff allowances - which are paid for days spent away from home and cover food and laundry costs while overseas - in favour of single ...
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Employers urged to do more to get staff to cycle to work
The Department for Transport has set up a new voluntary scheme as part of its efforts to ensure employers provide the right facilities for staff to cycle for work.By signing up to the Cycle-to-Work Guarantee scheme, public and private sector employers are committing to provide their staff with safe bike ...
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Ministers call for evidence on the default retirement age
Ministers are calling for businesses and individuals to submit evidence on the default retirement age to feed into the review taking place next year.The government is asking for evidence including:- The operation of the default retirement age in practice;- The reasons that businesses use mandatory retirement ages;- The impacts on ...
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Number of employees in final salary schemes continues to fall
The number of employees in final salary schemes in the private sector continued to drop last year, according to data from the Office for National Statistics (ONS).The Occupational Pension Schemes Annual Report 2008 reveals that the number of workers in private-sector run final salary schemes has fallen to a record ...
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Lazy postman raises questions about staff motivation
Royal Mail’s HR team could be forgiven for thinking it has one of the toughest jobs going as it attempts to manage militant postal strikes over pay.However, they should spare a thought for the employer of a postman in Poland, who took so long to deliver letters to a village ...
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BBC to trim senior management remuneration
The BBC Trust has endorsed a new pay strategy that will see it cut the amount it spends on paying its senior managers by 25% over the next three and a half years.It has also agreed to a proposal to freeze the pay of executive board directors for a further ...
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InterGlobal allows customers to buy private medical insurance online
International private medical insurer (PMI) InterGlobal has enhanced its website to allow clients and brokers to buy international PMI products online.The new transactional capability is being rolled out in stages. From the outset intermediaries and expatriates wishing to buy InterGlobal’s individual Ultracare and International Student plans can buy online. Further ...