All Employee Benefits articles in Web Issue – Page 321
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One in 10 FTSE 100 firms have pension deficits that threaten the business
Almost one in ten blue-chip FTSE-100 companies face pension scheme deficits so large they pose a threat to the future of the business, according to research conducted Pension Capital Strategies in association with JP Morgan Cazeenove.The report the FTSE-100 and their pension disclosures revealed that only five pension funds are ...
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Tesco staff embark on charitable wellbeing initiative
More than 1,700 Tesco employees across the UK started a 125-day virtual walk as part of the Global Corporate Challenge.Each of the 245 teams of seven will be expected to walk a distance equivalent to travelling around the world (8,616 miles), monitoring their distances with pedometers.Colin Williams, occupational health manager ...
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JLT Benefit Solutions launches iPhone pension modeller application
JLT Benefit Solutions has launched a pensions modeller application for use on the iPhone and iPod Touch.The defined contribution (DC) modeller, which will be available for download on iTunes from 7 June, is a personalised pension modelling tool for organisations that use JLT's BenPal system as its pension and benefits ...
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Naked Office TV series raises questions about reward
The return of the television show The Naked Office raises questions about what benefits should be provided for employees that come to work in the buff.Seat warmers, fake tan and dress-up Fridays are just a few perks that may be appreciated by nude staff members.On the other hand, employers might ...
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Almost half of employees had pay docked due to ash cloud restrictions
Almost half (43%) of employees affected by the ash cloud travel restrictions, had their pay docked or their annual leave entitlement diminish last month.According to a survey by recruitment firm Badenoch and Clark, almost a quarter (24%) of employers allowed their staff to work remotely, while a third (32%) allowed ...
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Bank of England reports pay freezes are thawing
Pay freezes have shown signs of slowing and pay rises could be on the increase, according to the Bank of England’s Agents’ summary of business conditions for May.The report revealed the number of pay freezes for the period from late March 2010 to late April 2010 were lower than reported ...
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Workplace Options introduces new travel cover for employees
Workplace Options has launched new benefits cover for employees travelling outside the country.Its Global Assurance plan will ensure any current work-life or employee support benefits will follow an employee when they travel for work. Employees are covered for up to 30 days, and additional expatriate or extended global coverage services ...
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The Pensions Trust chooses ITM to manage data analysis software
The Pensions Trust has appointed Independent Transition Management (ITM) to implement its data analysis software, Daart.Maurice Titley, director at ITM, said; “It is great to see schemes, like The Pensions Trust, demand better data quality for their members as many other schemes struggle daily with issues caused by poor data ...
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Employers still cautious about pay rises
Many employers are still operating a cautious approach to pay, with only 3% planning to make an above-inflation pay award, according to a new report from the Confederation of British Industry (CBI) and Harvey Nash.Picking up the pace: the CBI/Harvey Nash employment trends survey 2010 showed that after months of ...
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Renishaw appoints new defined benefit pensions administrator
The trustees of the Renishaw pension fund have appointed Barnett Waddingham to administer its defined benefit (DB) pension scheme.Barnett Waddingham will provide a full range of pension administration services to the manufacturer of metrology equipment and systems.Carole Ward, partner at Barnett Waddingham, said: “Online access for the pension scheme members ...
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Chartered chemical engineers pay rises by 5%
The average salary for chartered chemical engineers in the UK and Ireland has risen by 5% since 2008.According to the Institution of Chemical Engineers’ 2010 UK and Ireland salary survey, the median salary for a chartered chemical engineer is now £60,400 compared to £57,500 in 2008.A chartered chemical engineer aged ...
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Energizer appoints Buck to provide pension services
Energizer Trust has appointed Buck Consultants to provide actuarial, administration, consulting and investment consulting services for the Energizer UK pension plan.The consumer goods company, whose portfolio includes brands such as Wilkinson Sword, Banana Boat and Hawaiian Tropic, appointed Buck Consultants following an intensive selection process.The fund has just under 1,000 ...
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Protected retirement funds perform well
The only protected funds available to UK group pension schemes have captured strong performance in their first year, with gains of over 32% locked in.HSBC's Protected Retirement Funds, which launched on 20 May 2009, are a series of target date funds, which aim to deliver growth from global equity markets ...
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Queen’s Speech outlines plans affecting benefits
The Queen has outlined the Conservative/Liberal Democrat government’s plans to reassess the changes to national insurance contributions (NICs), phase out the default retirement age, review the intended increase in the State pension age, and introduce flexible working for all employees.National Insurance Contribution billThe National Insurance Contribution bill will overturn the ...
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BT switches share scheme administrators
British Telecom (BT) has switched providers for the administration of its employee share plans including the management of the 100,000 UK and 10,000 international employees in its sharesave and share incentive plans (Sips).The company has moved from Computershare (formerly HBOS Employer Equity Solutions) to Equiniti. The latter has had a ...
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Aviva research: Half of employers offer at least one group risk benefit
Around half of employers (51%) offer one or more group risk benefits to staff despite pressures to cut costs in the challenging economic environment..Of the 200 employers that responded to Aviva's annual Health of the Workplace survey, almost a third (31%) said they offered private medical insurance.Around 29% offer life ...
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Kent County Council to train staff on new pay structure
Kent County Council is training its managers as part of efforts to ensure its performance management processes complement its new pay and reward structure.Earlier this year, the council removed the annual incremental pay points from its pay grades and the introduction of annual percentage increases assigned to each appraisal rating.In ...
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De La Rue to close final salary pension scheme
Governmental banknote printer De La Rue is to close its final salary pension scheme to future accrual and instead offer employees access to a defined contribution scheme.The final salary scheme will be closed to future accrual for all employees from 1 April 2013 but pension benefits up until this date ...
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Personalised pension communications most effective
Employers should personalise their pensions communications to staff as much as possible according to the 2010 Pensions Communications Project.The research identifies how UK pension schemes can improve their communications and achieve greater engagement with defined contribution (DC) scheme members.The research, which was sponsored by six pension industry firms and the ...
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European cities among top for quality of living
European cities are among the best in the world for quality of living, with 16 among the top 25 ranked globally, according to Mercer’s Quality of Living survey.Vienna is the top ranked city for the second year running, followed by Zurich and Geneva in second and third position.At number 39, ...