All Employee Benefits articles in Web Issue – Page 312
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P&MM launches recognition guide for employers
Employee motivation specialist P&MM has launched a guide for employers on how to launch an effective recognition scheme, which is based around a treasure map concept. The guide includes details on the importance of setting motivation programme objectives, living the company values, designing a programme structure and identifying which rewards ...
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HBOS hands bulk of pension scheme management to Legal and General
HBOS pension trustees have handed the bulk of the management of its multi-billion pound pension scheme to Legal and General.Since Lloyds TSB's takeover of HBOS, there have been a number of structural changes to HBOS' and Lloyds TSB's pension and fund management arms, including the sale of Insight, the HBOS ...
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Article
Pension contributions decrease during recession
Almost half (45%) of independent financial advisers (IFAs) have seen a reduction in pension contributions among employers during the recession.According to Aegon's latest IFA Insights research, which interviewed 100 IFAs that deal with corporate clients, 45% have also seen increased use of salary sacrifice arrangements around pension contributions.†A further 60%, ...
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Most effective employer brand is supported by employee rewards
Integrating employer branding and reward strategy can help position companies positively for the upturn, according to a new report from the Chartered Institute of Personnel and Development (CIPD) and consultancy Mercer.The report, Employer Branding and Total Reward, draws from a survey of 44 organisations, a panel discussion and nine case ...
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Benefits cost can be reduced by shopping around
Employers could save up to 20% of the cost of their insured benefits by shopping around for a better deal.According to research by consultancy Mercer, employers could save between 10 and 15% of their premium costs in cases where the benefits remain with their existing provider, but they can secure ...
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Johnson Service Group introduces new payroll and HR system
Johnson Service Group (JSG) has introduced a new payroll and hosted HR system for the 2,500 employees within its textile service division.JSG has signed a five-year contract with NorthgateArinso to supply its ResourceLink Aurora, which is accessible online.Avi Kar, financial director at JSG, said: “We needed a firm to provide ...
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Three employers awarded payroll quality accolade
Irish business process outsourcing and IT service provider Equiniti ICS and car dealer group Listers Group have been awarded a Payroll Quality Partnership (PQP) accreditation by the Institute of Payroll Professionals (IPP).Payroll service provider ADP has also been re-accredited two years after being the first organisation to achieve the payroll ...
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Article
Lorica launches actuarial and risk management division
Lorica has set up an actuarial and risk management division to give employers advice and support on how to manage, reduce or eradicate the risks associated with operating defined benefit (DB) pension schemes and other trust-based arrangements. Sean Gilfeather, who will head up the new division, said many employers have ...
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Article
AA patrol staff vote to strike over pension scheme
AA patrol staff have voted to strike in a dispute over proposed changes to the company's pension schemes, raising the threat of the first walkout in the motoring organisation’s 105-year history. The first of a series of two-day strikes will begin on 2 May.A consultation on the proposed changes, which ...
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Article
Clifford Chance lifts pay freeze for London lawyers
Law firm Clifford Chance is to lift the freeze on salaries for London-based lawyers it imposed last year.Clifford Chance, one of the ‘Magic Circle’ law firms, has said salaries will rise from 1 May to reflect increased seniority. In addition, the firm will be paying bonuses as part of the ...
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Stephen Watson promoted at Alexander Forbes
Stephen Watson has been named head of defined contribution (DC) delivery for Alexander Forbes Financial Services. Before his appointment Watson held the position of new business consultant with the company since 2006.In 2001, Watson founded a specialist risk management company in Johannesburg, South Africa called Fusionry, which he headed as ...
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Shoosmiths appoints Suzanne Burrell as pensions specialist
Suzanne Burrell has joined the law firm Shoosmiths as a partner and pensions specialist.Moving over from Mayer Brown International, where she was most recently a senior associate, Burrell brings with her experience advising trustees and sponsoring employers of occupational pension schemes.While advising companies on pensions matters, such as the issues ...
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Marks and Spencer staff to share £80mn bonus pot
More than 50,000 Marks and Spencer employees will split an £80 million bonus pot.Depending on the hours worked, staff at the retail chain will receive between £200 and £500 each in bonus payments.Announced as part of the final trading update from Sir Stuart Rose, who is due to step down ...
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Air hostesses strip off in wages protest
Air hostesses who haven’t been paid for up to nine months after their airline folded have responded by adopting a carefree approach to dress codes – by wearing nothing at all.Nine flight attendants from now-defunct Spanish carrier Air Comet have dared to be bare for a charity calendar to “continue ...
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Bank of Ireland aims to halve pension deficit
The Bank of Ireland has made changes to it 18,000 member-strong pension scheme in order to halve its €1.6bn deficit.Under the plans, there will be no pension increases for future retirees for three years from their date of retirement, although this will be phased in for those close to retirement.The ...
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Sterling McCall and Carey Pensions UK team up for pension service
Financial adviser firm Sterling McCall has added Carey Pensions UK, part of the Carey Group, as the administer and trustee of its bespoke workplace pension discretionary service.The discretionary fund will be managed by Sterling McCall via its platform partners, Newscape and Praemium.Steve Moseley, operations director at Sterling McCall, said: “We ...
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Chief executives of NHS trusts receive 6.9% pay increase
Chief executives of NHS trusts received an average pay increase of 6.9%, earning close to £600,000 last year.According to a report on NHS boardroom pay published by Income Data Services (IDS) the median salary for a chief executive of a NHS foundation trust stood at £157,500 for the year to ...
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Finalists announced for Employee Benefits Awards 2010
Boots UK, Centrica and Virgin Media are among the top employers that have been listed as finalists for the Employee Benefits Awards 2010.The winners will be presented with their prizes at a glittering awards ceremony which will take place on June 25 at the London Hilton on Park Lane.The award ...
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Article
K2 puts 'athlete at work' programme online
K2 Performance Systems has launched an online version of its athlete at work programme.The online format is based on the athlete at work high performance coaching programme, which was launched in 2003 and is designed to improve work performance through K2’s sports psychologists, health and fitness experts, and successful business ...
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More people planning to save for pensions, says research
The number of people planning to save for a pension has risen by 12% since 2009, according to the MoneyMood Survey from Legal and General.One third (32%) of approximately 940 people polled in 2010 intend to save for a pension, a significant rise from the 20% who were considering it ...