All Employee Benefits articles in Web Issue – Page 329
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Employees not doing enough retirement planning
Employees are not doing enough to plan for their retirement, according to new study from the Institute for Employment Studies (IES).Its study Should I stay or should I go? found many employees, particularly those in their early 50s, have done little in the way of forward planning for retirement.It also ...
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Retirement income for DC pension investors decreases
The projected annual retirement income of typical defined contribution (DC) pension investors has decreased since 1 May, according to research from Aon Consulting.The Aon DC Index follows the projected retirement income of individuals at different ages who contribute 10% of a £25,000 salary to a DC arrangement and have an ...
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Pension scheme deficits projected to reach £362 billion
The deficit of all pension schemes eligible for the Pension Protection Fund (PPF) will reach £362 billion by end of December, according to projections by Xafinity.Based on market conditions at the end of May, Xafinity's Corporate Pension Scheme Model, also revealed the predicted deficit is £90 billion less than estimated ...
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Employee Benefits Summit 2010 – speaker slides
Below are the slides from some of the speakers at the Employee Benefits Summit 2010.The Summit took place in Monte Carlo on 9-11 June.Employee engagement and the output of organisations in difficult economic timesNita Clarke, Director, Involvement and Participation Association (IPA)and Deputy Chair, UK Government’s Review on Employee EngagementDownloadNEST (national ...
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Just 6% of public sector staff would link performance with pay
Just 6% of public sector employees see the performance of their organisation as an appropriate factor in determining their pay, compared to a third (35%) of private sector employees.These figures are among the findings of a new report Coping with Less: Pay and pensions in the public sector by the ...
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Employee Benefits Summit: 21% of organisations intend to increase pay by 2.5% to 2.99%
One-fifth of delegates at this year's Employee Benefits Summit intend to implement pay rises between 2.5% and 2.99% in in 2010.Some 21% of delegates said they intended to do so in an interactive vote during last week's summit in Monte Carlo, which brought together 50 reward and human resource managers ...
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Pay increases remain depressed
Pay increases have slowed considerably since the UK entered recession, according to the Economic Review published in today's Economic and Labour Market Review, although they have picked up a little of late.Regular earnings (that is, not including bonuses or arrears) in January-March 2010 were 1.9% up on the same period ...
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Marie Stopes introduces new HR and payroll system
Charity Marie Stopes International has introduced a new integrated HR, payroll and e-recruiter system to centralise its HR and payroll information into a central database.This will enable the organisation to decrease administration, reduce costs, and focus on more strategic HR and payroll tasks.Through the new system, provided by Agresso Business ...
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Majority of employers do not have a communication policy for DC pensions
More than 60% of organisations do not have a communication policy in place for their defined contribution (DC) pension schemes.According to Mercer’s latest DC survey, which analyses the DC pension provision of 354 UK organisations, more than two-thirds (68%) of survey participants rated limited member understanding as one of the ...
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More than half of European staff think they will have to delay retirement
More than half (55%) of Europeans believe they will have to delay their retirement because of the current economic climate.According to Aon Consulting's European Employee Benefits Benchmark, which surveyed more than 7,500 workers from across Belgium, Denmark, France, Germany, Ireland, The Netherlands, Norway, Spain, Switzerland and the UK, the majority ...
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ALC Health launches online purchase for international health insurance
ALC Health has launched an online quote-and-buy facility for organisations to purchase international health insurance on behalf of employees.Employers can also refer staff directly to the website to arrange the cover for themselves. Visitors to the website are able to buy the cover instantly, 24 hours a day.Andrew Apps, director ...
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Increasing personal allowances will redistribute income
A third of organisations believe the government's proposed increase in personal tax allowances is an effective way of redistributing income through the tax system by 33%, according to research by accountancy firm Baker Tilly.Of the 405 respondents to its online survey, a further 23% said the plans, which focus on ...
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Council to recruit wellbeing adviser to ensure staff take tea breaks
Elmbridge Borough Council has not underestimated the importance of the nation’s favourite hot beverage as it seeks to recruit a wellbeing adviser to ensure staff take time out for a tea break at work.At a time when the government is making drastic cuts in public spending, the £30,000-plus post, designed ...
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Employees sense of belonging to their organisation has fallen
Less than half (49%) of employees feel a strong sense of belonging to their organisation, a fall of 10% since 2008. According to the Putting it in Perspective study, by Infogroup’s ORC International division, 68% of employees also reported feeling proud to work for their organisations, compared to 70% in ...
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Mike Tyler to take over from Adrian Norris at Buck Consultants
Buck Consultants has appointed Mike Tyler to lead its health and productivity practice in the UK from 1 July.Tyler will succeed Adrian Norris, who is retiring in September, and will be working closely with him over the next three months to ensure a smooth transition into the role.Tyler is a ...
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Public sector staff receive better pay and pensions than private sector
Public sector workers receive better pay and pension benefits, as well as shorter working hours and earlier retirement than private sector staff.According to analysis by think-tank the Policy Exchange, on an hourly basis, the typical public sector worker is now 30% better paid than the typical worker in the private ...
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Morning Star newspaper agrees two-year pay deal with staff
The Morning Star newspaper has agreed a two-year pay deal with its journalists, avoiding threatened strike action. The dispute was settled after NUJ members of the National Union of Journalists (NUJ) agreed a new two-year pay deal, which is worth £900 this year with the promise of an additional pay ...
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Staff believe more than eight days is ideal holiday length
Three-quarters of employees believe eight or more days is the ideal length of time to take off work as annual leave in order to feel rested and recharged.However, less than two-thirds (60%) plan to go on holiday for more than a week, according to the Time For a Holiday survey ...
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Care Management Group introduces voluntary benefits scheme
Care Management Group has introduced a voluntary benefits scheme to enhance the total reward package for its 1,350-plus care staff.The organisation, which provides specialist support to children and adults with learning and physical disabilities, appointed People Value to provide the scheme.Called Advantage, the scheme includes more than 1,600 discounts and ...
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CBI calls for greater workplace flexibility
The Confederation of British Industry (CBI) has called for greater flexibility in the workplace in order to foster economic growth, but opposes the scrapping of the retirement age.In a new report, Making Britain the Place to Work, the UK business group highlights the importance of the UK’s flexible labour market ...