All Employee Benefits articles in Web Issue – Page 368
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Share scheme industry celebrates while Royal Mail heading for massive share ownership plan
The share scheme industry celebrated major milestones for employee share ownership at the House of Commons, Westminster yesterday. The event, hosted by IFS Proshare, took place in the same week that a Parliamentary committee is discussing the bill that will lead to 10% of shares in Royal Mail going to ...
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FSA seeks disclosure on banks’ pay policies
The Financial Services Authority (FSA) has published a consultation document on the disclosure of remuneration of financial services firms.The FSA will ask banks to disclose information on their remuneration policies and pay-outs on an annual basis, according to the requirements of set out in the Capital Requirements Directive (CRD3).Information to ...
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CIPD conference 2010: Astellas Pharmaceuticals focuses on total reward
Astellas Pharmaceuticals has launched a number of total reward initiatives around wellbeing, recognition and flexible working for its 15,000 global employees.Mark Goodlake, senior director in the European HQ of Astellas Pharmaceuticals, spoke about the new initiatives at a session called ‘The pay, performance and engagement equation’ at the 2010 CIPD ...
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CIPD conference 2010: Preparing employers for changes to the pensions landscape
“Pensions is a supertanker and we all have to start to steer it in the right direction,” said Jane Vass, who leads the private sector team at Age UK, during a session called ‘A new age for retirement and pensions’ at the 2010 CIPD Annual Conference and Exhibition.In the wake ...
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Killing classes to take place this weekend
‘Killing classes’ will take place in Slough this weekend for civilians who want to learn military and police close combat techniques.Reality fighting expert Tim Larkin has spent 20 years running close combat training programmes and has trained senior executives at Goldman Sachs, JP Morgan and Credit Suisse.The Target Focus Training ...
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Nuffield Health gains share of corporate fitness sector
Nuffield Health has announced the acquisition of corporate fitness business, Bladerunner.The combined business will provide onsite corporate fitness facilities including memberships to private gyms, and mobile therapists and physiotherapists.Bladerunner’s contracts for almost 100 onsite gym facilities in offices and schools complements Nuffield Health’s corporate wellbeing business, which operates nearly 100 ...
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Dinamiks launches online employee performance management system
Dinamiks has launched an online employee performance management system.The system, called Dinamiks, includes two modules: competencies and values.The competencies module highlights where training is required, while values aligns staff, through behaviour change, to what the brand of their employer organisation represents and how it is perceived.Shirley Barnes, client relationship director ...
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Pensions Regulator statement on employer related investments
The Pensions Regulator has set out its expectations of trustees, employers and advisers involved in making pension scheme investment decisions.Under laws governing employer related investments (ERI) not more than 5% of the current value of scheme assets may be invested in ERI (subject to certain specific exceptions). In addition, some ...
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Asda staff to receive £16m festive bonus
Asda is to present employees with a £16 million festive bonus to thank them for their hard work throughout 2010.The ‘Christmas Thank You’ package includes a £20 Asda gift card, a free festive meal and a 20% discount on a range of Asda products.The package will be available to each ...
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Nest Corporation confirms long-term contracts for scheme and fund administration
Nest Corporation has confirmed its long-term contract with Tata Consultancy Services (TCS) for the administration of the pension scheme until 30 June 2020, with the option to extend for up to five years beyond then.The trustee body of the national employment savings trust (Nest) has also confirmed the 10-year fund ...
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Local government backs higher pension contributions
The majority (75%) of local government pension experts believe there is a strong case for increasing contributions from council staff, according to the National Association of Pension Funds (NAPF).The NAPF’s Local Authority Pensions Poll found 83% of respondents also agreed that Lord Hutton’s proposals in his review of public sector ...
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NHS launches tool to improve staff health and wellbeing
The NHS has launched a new online resource to improve employee health and wellbeing.The resource, which is called ‘NHS well-being at work’, was developed by NHS Employers and is designed to support organisations working in the NHS in reducing staff sickness and absence.Sir David Nicholson, chief executive at the NHS, ...
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Employees see pensions as the best retirement saving tool
Staff increasingly see pensions as the best way to save for retirement and as the most important employee benefit employers can offer, but they have become less confident their pension will deliver.According to the National Association of Pension Funds’ (NAPF) Workplace Pensions Survey 2010, 44% of employees said pensions were ...
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Hitachi Consulting launches harmonised pension plan and flex scheme
Hitachi Consulting has merged two pension plans and introduced a new platform to manage its employee benefits.The Benpal platform, provided by JLT Benefit Solutions, uses a variety of channels to communicate and engage with employees, including presentations and online media engagement from emails to SMS text messaging.Anthea Carter-Savigear, HR director ...
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Lorica adds roadside assistance to flexible benefits
Lorica is adding a roadside assistance and recovery service to its flexible benefits package.The agreement between Lorica and Mondial Assistance builds on the existing partnership between the two firms, including the offering of ‘Mondial Travel Select’ product to Lorica clients earlier this year.‘Mondial Motor Select’ includes national recovery, temporary vehicle ...
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E.On measures staff engagement with flexible benefits plan
E.On has measured employee satisfaction with its flexible benefits scheme using a staff survey.The survey revealed 87% of the energy firm’s employees were satisfied with its My Choice flexible benefits scheme, provided by Benefex, and 74% instantly recognise the branding of the scheme.After implementing total reward statements (TRS) earlier this ...
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WPA launches NHS supplementary insurance plan
Health insurance provider WPA has launched an NHS supplementary insurance plan that employers can offer staff to help pay for extras.Its NHS Top-up plan offers premiums starting at 92p per employee per week and cash back levels up to 100%.The benefits include: optical and dental, NHS car parking, top-up cancer ...
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B&CE and Partnership team up to offer enhanced annuities
B&CE Benefit Schemes has joined forces with Partnership, the provider of financial products for people with health and lifestyle conditions, to offer enhanced annuities.Employers in the construction industry offering benefits provided by B&CE will have direct access to enhanced rates by a one page medical questionnaire, which will enable them ...
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Employers forecast average pay increases of 2.5%
Nearly half (46%) of private sector and 13% of public sector employers reported pay freezes last year.The Personnel Rewards Survey by Croner Reward, which polled 400 organisations and 250 personnel professionals, also revealed that, of those that did see an increase, the average award was 2%. For the coming year, ...
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GSK agrees £900m pension buy-in deal with Prudential
Trustees of two of GlaxoSmithKline’s (GSK) pension plans have entered into bulk annuity contracts with Prudential.The contracts have an aggregate value of approximately £900 million and cover around 15% of GSK’s UK defined benefit pensioner liabilities.Under the terms of the agreement, Prudential will take on responsibility for a portion of ...