All Employee Benefits articles in Web Issue – Page 293
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Article
Debi O'Donovan, editor, Employee Benefits: Pension commission saving is false economy
As we start a new year, there is still a feeling of trepidation about what 2010 will bring. Last year was one of recession, job losses and cost-cutting. Many of us sincerely hope this year will not bring more of the same.But with increasing consolidation in the market, leading to ...
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Article
TD Waterhouse revamps flexible benefits after acquisition
TD Waterhouse has revamped its flexible benefits and integrated 160 new staff from an acquired companyIn October, the stockbroker acquired OMX Securities, whose staff were given access to all TD Waterhouse perks except its pension scheme and were invited to enrol in last month’s flex window.Anne Barnett, compensation and benefits ...
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Analysis
What Darling's pre-Budget report means for reward
The Chancellor’s pre-Budget report contained a number of measures that will affect reward and benefits. Nicola Sullivan spells out the planned changesChancellor Alistair Darling’s pre-Budget report last month will no doubt be remembered for its measures on bonuses, pensions and public sector pay. But such headline items may have overshadowed ...
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Article
Linklaters closes final salary pension and reviews reward
Law firm Linklaters has closed its final salary pension scheme to future accrual and reviewed its risk benefits as part of a new approach to employee benefits.After reviewing the efficiency of its resources with assistance from broker Aon Consulting, the firm is also removing its death-in-service pension benefit and adding ...
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Article
The Parliamentary Contributory Pension Fund appoints law firm Sackers to advise trustees
The Parliamentary Contributory Pension Fund (PCPF) for MPs and ministers has appointed law firm Sackers to advise its trustees.Sackers was selected after a competitive tender process and will work with trustees to help the PCPF meet its objectives.Robin Simmons, who led the tender on behalf of Sackers, said: “We look ...
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Article
UK workers give away £27 billion of unpaid overtime
Over five million workers across the UK gave away £27.4 billion in unpaid overtime in 2009, according to research by the Trades Union Congress (TUC).The study shows that 5.07 million people regularly worked unpaid overtime in 2009, a decline of 168,000 since 2008. Staff who did unpaid overtime worked an ...
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Article
Personal accounts rebranded as National Employment Savings Trust
The Personal Accounts Delivery Authority (Pada) has announced that National Employment Savings Trust (Nest) will be the new permanent name for the personal accounts scheme, due to come into effect from 2012 under workplace pensions reforms.Nest will be run by a not-for-profit trustee body, the Nest Corporation.Pada developed the new ...
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Article
Wages of Portsmouth FC players delayed
With their luxury lifestyles and bulging pay packets, Premier League football players are not renowned for having problems with remuneration.However, this does not currently apply to Portsmouth FC players whose wages have been delayed three times over the course of four months. On Thursday, the players were finally paid the ...
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Article
Financial services firms move away from short-term incentives
Financial organisations have changed the mix of pay, moving emphasis away from short-term incentive schemes in favour of increased salary, deferred compensation schemes and modified incentive programme design, according to a global survey by consultancy Mercer.The sector is also changing the nature of its short-term incentive schemes, with more focus ...
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Article
Aviva enhances group risk products
Aviva has made several enhancements to its group income protection and group life products.With immediate effect, it has increased the free cover limit formula on its existing and new group life policies from £15,000 to £20,000 multiplied by the number of lives in a scheme, subject to a maximum of ...
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Article
FirstGroup and Apache appoint Mercer
Transport operator FirstGroup and oil and gas exploration and production company Apache have appointed consultancy Mercer to provide implemented consulting services to their pension funds.FirstGroup will use the services for one of its UK pension plans, which has total assets of £35 million. This will provide the fund with investment ...
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Article
The Boeing Company offers medical consultation service to staff
The Boeing Company has expanded its wellbeing programme to include a medical consultation service for its US staff.Employees working at the aerospace company are now entitled to a second medical opinion if they are uncertain about a previous diagnosis or the treatments available to them.The service provided by Best Doctors ...
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Article
Government announces final auto-enrolment regulations
The final rules governing auto-enrolment into workplace pension schemes from 2012 have been announced.From October, 2012 the country's largest businesses (those with more than 120,000 employees) will join the auto-enrolment regime. Employer will then be staged by size from largest to smallest through to 2016, with start up small businesses ...
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Article
BAA Pension Scheme appoints Cardano to advise trustees
The BAA Pension Scheme has appointed Cardano to act as its investment advisor.Cardano will advise the scheme's trustees on all aspects of their investment arrangements, including asset allocation, liability hedging and manager selection.Gordon Dewar, chairman of the BAA trustees, said: “We chose Cardano because we liked their focus on the ...
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Article
FSA to freeze pay and bonuses
The Financial Services Authority (FSA)†has revealed that staff will not receive pay rises this year.The regulator, which has 3,000 staff at offices in London and Edinburgh, said it has not put aside funds for increases this year.The bonus pot is also staying the same as last year, at 15% of ...
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Article
Charities not assessing impact of 2012 pension changes, says survey
Nearly three-quarters of charities have not assessed the impact of pension changes coming into force from 2012, according to a survey.A total of 73% of charities have not yet assessed the impact of changes to legislation on their pension strategies, according to research by the Association of Chief Executives of ...
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Article
DSG International to close final salary scheme to future accrual
DSG International - which owns high street retailers Currys and PC World - will be closing its final salary scheme to future accrual.The firm is currently in consultation with scheme members about the changes which are part of efforts to reduce the costs and risks associated with providing a defined ...
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Article
Canada Life launches early intervention service
Canada Life Group Insurance (CGLI) has launched a new product aimed at helping employees return to work as early as possible following sickness absence.The early intervention service addresses the need to reduce long-term absenteeism and help employees back to work by intervening at the earliest stage of absence, normally assisting ...
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Article
Staff who tell managers what they think of them are less stressed
Employees who are given the opportunity to criticise their boss face to face are likely to have lower stress levels and better health, according to research conducted by the British Psychological Society.However, it is not yet known what impact this kind of transparency might have on the wellbeing of line ...
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Article
Conquering your New Year’s resolutions
This article has been supplied by our channel sponsor, Health Shield.January has long been regarded as a month for making new commitments, breaking bad habits and changing your lifestyle – a fresh start in a new year. But the success rate of New Year’s resolutions is notoriously low. Recent research ...