All Employee Benefits articles in Web Issue – Page 346
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Article
Pension Protection Fund strategy could impact employer levies
The route by which the Pension Protection Fund (PPF) intends to reach its new long-term strategy of being financially self-sufficient by 2030 could make a big difference to the levies employers pay over the next few years, according to Towers Watson.By 2010, the PPF aims to have protected itself against ...
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Article
Capita Hartshead director to climb Alps for charity
Capita Hartshead director Clive Wickenden and Dave Morris, engagement director for Service Birmingham, (Birmingham City Council's joint venture with Capita Business Services) plan to climb the Alps for charity.The two men are planning a three-day trek aiming to raise at least £5,000 for Macmillan Cancer Support.Wickenden, director of client services, ...
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Article
Only 16% of multinationals feel benefits plans are sufficient
Only 16% of multinational organisations feel their existing governance structures of employee benefits programmes are sufficient to meet current and anticipated future needs.The Global governance of benefit plan survey by consultancy Mercer of 114 multinational organisations also found significant declines in asset values and the dramatic deterioration of defined benefit ...
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Article
Private sector pay freezes continue to fall
Pay freezes in the private sector have continued to fall, according to figures from Incomes Data Services (IDS).In its latest pay report, IDS found pay freezes account for just under 15% of deals between May and July.The report found the median pay settlement across the whole economy for this period ...
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Article
University pension schemes' funding levels drop
The average FRS17 funding level of university final salary pension schemes has dropped from 81% to 73% in the last five years, according to a survey of self-administered trusts (SAT) by Barnett Waddingham.The survey, which is based on data in the published accounts of 26 universities with financial years that ...
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Article
Motivate staff to kick post-holiday blues
As the rain sets in, many employees are reluctantly returning to work after their summer holiday.With many staff struggling to get back into working mode, the debate over how employers should motivate staff to kick the post-holiday blues is underway.Leading commentators on the issue have differing views on how employers ...
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Article
Capita Group acquires National Dental Plan
The Capita Group has acquired the National Dental Plan (NDP) group of companies for a cash consideration of £30 million.NDP designs, distributes, arranges underwriting for and administers dental insurance policies for more than 300 organisations including Lloyds Banking Group, HSBC and BT. It employs around 20 staff.Paul Pindar, chief executive ...
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Article
Shop Direct Group proposes to close Littlewoods' final salary pensions
Shop Direct Group, and sister companies Yodel and Transactis, have announced proposals to close the Littlewoods pension scheme to future accrual.The shopping group has entered into consultations with employees over the proposed changes, which could see Littlewoods’ and the Shop Direct Group’s schemes closed to future service accrual from 31 ...
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Article
Employers may level down pensions to meet auto-enrolment costs
Around 41% of employers are likely to level down pension benefits to meet the cost of auto-enrolment, according to research by the Association of Consulting Actuaries (ACA).The association's survey, conducted as part of its input to the government's review of the national employment savings trust (Nest) and auto-enrolment, also showed ...
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Article
IDS research: Aim directors' pay breaks £200,000 barrier
Directors of Aim-listed organisations received pay rises averaging 6.1% in the last financial year, and have reached an average of £168,8601.The Executive Compensation Review 354 by Incomes Data Services (IDS), shows the average basic salary of Aim chief executive officers (CEO) has broken through the £200,000 per annum ceiling for ...
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Article
One in three FTSE 100 companies unable to meet pension deficits
Almost a third (32%) of FTSE 100 companies are unable to pay pension fund deficits from current discretionary cash flow, according to KPMG’s Pensions Repayment Monitor.The survey shows companies are spending more on deficits than funding pensions for current staff, with £2 out of every £3 in 2009 being spent ...
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Article
Annuity rates hit all-time low
Annuity rates have fallen to an all-time low.The steady fall in rates over the summer months follows re-pricing activity among providers.The latest reductions mean the average male annuity rate has dropped by 45.5% over the last 15 years, while female rates have fallen by 41.8%.The average rate for a male ...
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Analysis
Flexible benefits report 2010
Download a PDF of the flexible benefits supplementFlexible benefits: Interview with Steven Bevan of The Work FoundationFlexible benefits: Scheme structure can be made to measureFlexible benefits: Corporate wrapsFlexible benefits: Benefits take-up boosted by flexFlexible benefits: Linking flex with incentive schemesFlexible benefits: Profile - BG GroupFlexible benefits: Will flex scheme be ...
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Article
Insights adds global benefits brand
Insights Learning and Development has launched a global benefits brand across its offices in the UK, US, Canada, France and Italy.The Viva! brand will be used as a communications tool. In the UK, it was used to launch voluntary benefits for 78 staff, provided by Asperity Employee Benefits. Fiona Boath, ...
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Analysis
How coalition government's measures affect benefits
If you read nothing else, read this...The coalition government has announced a wide range of new measures, policy reviews and consultations, affecting almost every employee benefit, since it came into power in May.One of the biggest changes has been around pensions tax for high earners, with the government looking to ...
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Article
News analysis: Retail vouchers prove a taxing issue
The European Court of Justice's ruling on the VAT status of retail vouchers could have wide implications for salary sacrifice, says Jennifer PatersonLast month, the European Court of Justice (ECJ) ruled that employees must pay value-added tax (VAT) on retail vouchers bought through salary sacrifice arrangements. In the case of ...
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Article
Norfolk County Council changes employee assistance programme provider
Norfolk County Council has switched employee assistance programme (EAP) providers in a bid to change staff perception that the benefit should be used only at times of crisis.Since it retendered providers and selected the Validium Group, almost one in 10 staff have turned to the EAP for support - up ...
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Article
Steve Herbert joins Jelf Employee Benefits
Jelf Employee Benefits has appointed Steve Herbert head of benefits strategy.In his new role, Herbert is tasked with further extending Jelf’s reach in the employee benefits market through a series of seminars and workshops to inform and assist Jelf’s corporate clients, social media, appearances at industry-leading events and media work.Herbert ...
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Article
Debi O'Donovan, editor of Employee Benefits: Boundaries are blurring in delivery of benefits
From time to time, it is useful to step back and look at how things have changed in order to spot emerging trends for the future. Looking back a dozen years (a timescale picked simply because that is when I first joined Employee Benefits), benefits packages were more likely to ...
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Article
Confessions of a benefits manager: Compensation queen
Everyone seems to want Candid's advice, which seems a burden until she realises the true status of being the office oracleThere is one small difference between me and everyone else around here. No, it's not just that I am a tiny bit cynical, and no, it isn't even anything to ...