All Employee Benefits articles in Web Issue – Page 285
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Third of manufacturing firms still offer final salary pension
Nearly a third of manufacturing firms (32%) still have a defined benefit (DB) pension scheme for at least some of their employees, according to research from the manufacturing employers association EEF.The EEF/CPH Consulting Employment Survey 2009 found that a significant proportion (62%) of DB schemes are now closed to new ...
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Punch Taverns appoints consultant for pensions administration
Punch Taverns has appointed Hewitt Associates to provide pensions administration and pensions manager support services.Punch Taverns’ £320 million pension scheme, which includes both defined benefit and defined contribution members, has more than 11,000 lives including both active and deferred members.Simon Belton, group pension manager at Punch Taverns, said: “We were ...
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Pay freezes could end in 2010
Pay freezes could come to an end next year as employers sense renewed optimism about the state of the economy, according to Mercer’s Salary Indicator (MSI) report, which monitors the remuneration of major UK blue chip organisations on a quarterly basis.The survey began in the first quarter (Q1) of 2009 ...
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Fujitsu Services staff set to strike over pay, pensions and jobs
Employees at IT firm Fujitsu Services are to go on a three-day strike next week following a dispute over pay, pensions and jobs.The strike is set to commence on 12 November following around 700 of the firm's 1,596 union members voting in favour of industrial action.Unite is protesting at plans ...
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Motorised bed used to motivate staff
Even the most dedicated employees' loyalty to their employer hangs in the balance during those critical few minutes after the alarm clock goes off, when staying in bed over earning a living can seem like a viable option.Now employers can recognise the daily challenge of getting up in the morning ...
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Trinity Mirror to close defined benefit pension to existing members
Trinity Mirror has announced plans to close its defined benefit pension plan to existing members claiming it can no longer afford to provide the scheme.The publishing group is entering a two-month consultation period with employees over its proposal to close the scheme to future accrual. About 3,000 of its 7,000 ...
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More than a third of all sick leave is taken on a Monday, says Mercer
More than a third of all sick leave is taken on a Monday, according to new sickness management research by Mercer.January is the month with the highest level of sickness absence, with sick leave averaging half a day per person for the month. On 3 and 4 January, nearly 5% ...
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FTSE 250 firms change executive pay faster than FTSE 100 firms
FTSE 250 companies have reacted more decisively to recessionary pressures than their FTSE 100 counterparts when dealing with executive remuneration, according to a Hewitt New Bridge Street report.The FTSE 250 Directors' Remuneration 2009 report, released today by one of the UK's leading executive remuneration specialists, revealed that 80% of FTSE ...
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Cigna launches oral health risk assessments
Cigna has launched online interactive oral health risk assessments.By answering questions on issues such as age, their oral health routine and dental history, employees will receive a result judging how at risk they are of dental cavities or gum disease.The results are designed for individuals to use and employees are ...
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Pauline Sibbit elected as chairman of the Association of Pension Lawyers
Pauline Sibbit, partner at Sacker and Partners, has been elected as chairman of the Association of Pension Lawyers (APL) for a two-year period.Sibbit, who became a partner at Sackers in 1990, officially takes up the position following the 25th APL AGM on Friday 6 November. Her election comes following several ...
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Workers confused over UK retirement age
Only a third of workers think that they will work until they are over 65 and just one in ten believes they will still be working in their 70s, according to research by Croner.The survey, which questioned almost 1,400 UK working adults, found that 22% see themselves working until 60 ...
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PPF announces levy calculation changes
The Pension Protection Fund (PPF) has published proposals for the 2011/12 pension protection levy year which improve the way it assesses the insolvency risk for sponsoring employers of pension schemes that pay the levy.These proposals reflect industry feedback and a review of methodology and insolvency probabilities carried out by Dun ...
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Logica UK pulls out of running for personal accounts administration
The Personal Accounts Delivery Authority (Pada) has confirmed that Logica UK has withdrawn from the competitive dialogue process for scheme administration services.Tim Jones, PADA chief executive, said: "We wish to thank Logica and its key sub-contractors for their engagement with us. They are impressive organisations. We enjoyed working with them ...
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FirstCare acquires Active Health Partners
Absence management provider FirstCare has acquired Active Health Partners (AHP), increasing the number of employees it services by 80%.The increased volume of real time absence management data – over 100,000 employees – gives FirstCare the ability to build on specialist knowledge and use data to help large businesses reduce sickness ...
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Bumper pay packets for partners at law firms
Partners at leading law firms earned close to £900,000 this year despite an average decline in profits for the top 100 firms of 30%, according to research conducted by PricewaterhouseCoopers (PWC).PWC's survey shows that average profits per partner of the top 10 firms at £872,000 were almost twice that of ...
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Simon Cowell is highest-paid man on US prime time TV
In the television world, it is sometimes baffling how celebrities who display what some might consider as deplorable traits are so generously compensated.This couldn’t be truer than in the case of Simon Cowell, who has been named the highest-paid man on American prime-time television, after raking in $75 million (£45 ...
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Gender pay gap narrows
The pay gap between male and female workers in full-time employment has narrowed in the past year. According to figures from the Office for National Statistics (ONS) the median hourly rate for men in full-time employment was £12.97 compared to £11.39 for women.This means the gender pay gap stands at ...
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NAPF warns companies to curb pay
The National Association of Pension Funds (NAPF) has written to the chairmen of Britain’s top 350 companies urging executive pay restraint and making it clear that company remuneration should be aligned with the long-term interests of shareholders, including pension funds.The NAPF said that boards should pay close attention to how ...
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Philip Dixon’s university role
Sheffield Hallam University has appointed Phillip Dixon as HR director with responsibility for pay and benefits, employee health, learning and development, and the university’s staff discount scheme,Having been with the organisation for seven years, he has been acting HR director since 2008 and has now been appointed to the role ...
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Tom Russell departs Cancer Research
Tom Russell is leaving Cancer Research UK on 4 December after more than five years with the organisation.In his most recent role as director of HR performance programmes,Russell was responsible for employee reward and recognition, among other HR duties. Prior to this, he held the role of director of strategic ...