All Employee Benefits articles in Web Issue – Page 369
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Article
City management consultants receive £30,000 retention bonuses
City management consultants are receiving retention bonuses averaging £30,000, according financial services recruitment firm Astbury Marsden.The bonuses (which are paid on top of annual bonuses) are being introduced to try and halt the increasing turnover of staff between management consultancies, caused by a boom in the sector.Mike O'Kane, manager at ...
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Siemens rewards employees with one-off special payment
Siemens intends to award its employees for their performance during the financial and economic crisis with a one-off special payment.A total of €310 million (£267 million) will be paid out to the company’s worldwide workforce.Peter Loscher, president and chief executive officer at Siemens, said: “The company came through the crisis ...
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Article
Doctor's benefits to include sausages
Complimentary sausages are not something many job seekers would expect to see on a job advertisement.However, this is one of the perks promised to the successful applicant who becomes the doctor in the small German village of Lette.Residents are so desperate to find a replacement for their local GP who ...
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Article
Rise in expected annual pension for UK workers
Retirement income for UK employees has improved in the past month, according to Aon Hewitt's DC Index.The index showed an increase in projected annual pension, especially for 30 year olds who have seen a £403 increase to the retirement income they can expect to receive.However, although 30 year olds’ average ...
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Article
Tesco gives staff Christmas perks worth £55 million
Tesco is giving its 280,000 UK staff Christmas benefits worth £55 million as a thank you.Each employee will receive up to £20 in vouchers as well as a booklet containing exclusive money-off vouchers worth a further £120.The retailer is also giving an additional day’s holiday to all employees which represents ...
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Article
HSBC launches Workplace Retirement Services business
HSBC is launching a new Workplace Retirement Services business which will offer employers a range of defined contribution (DC) pension products.This will include contract-based group personal pensions (GPPs) and stakeholder schemes in conjunction with employee benefits consultants and corporate independent financial advisors (IFAs). In addition, the service will offer a ...
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Article
Healthcare RM and The Adventure Company launch fitness holidays
Health risk and absence management consultancy Healthcare RM has teamed up with The Adventure Company to offer a fitness and stress reduction programme.The package encourages employers to include The Adventure Company's (part of TUI Travel) range of activity holidays in employee wellness and rehabilitation programmes. These include trekking holidays to ...
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Article
PensionsFirst research: DB deficits set to increase
Defined benefit (DB) pension deficits of the top 100 UK companies are set to increase by more than £25 billion within one month.According to PensionsFirst's PF Risk Report, over a year this could result in an increase of around £100 billion in the total deficit, bringing the current deficit of ...
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Article
Interim managers willing to take pay cut to work at SMEs
Directors and senior managers are willing to take a pay cut of up to 50% to work at a small or medium-sized enterprise (SME), according to a survey of interim managers by Interim Partners.The research found interim managers are willing to take a cut from the £757 per day they ...
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The Work Foundation research: Align employees' priorities with benefits
A deeper understanding of individual employee's priorities and needs may afford employers a degree of scope to change formal employee benefits arrangements as long as these do not alter the core component of the employment deal.Understanding the Deal, the fourth report in the Future of HR series by The Work ...
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GlaxoSmithKline switches voluntary benefits provider
GlaxoSmithKline (GSK) has changed its voluntary benefits provider to bring more simplicity to its reward offering.The pharmaceutical organisation has switched its scheme provider to Next Jump, which will give employees access to discounts at major brands and retailers.Staff will also have the option to save through direct discounts or a ...
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Article
Origen to sell healthcare business to Towergate Healthcare
Independent financial advice (IFA) firm Origen has announced the sale of its healthcare business to Towergate Healthcare.The move will see Origen's book of private medical insurance business transferred to Towergate Healthcare, which will manage healthcare services for all of its clients.Through the partnership, Origen’s clients will have access to a ...
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Educating scheme members top pensions communication issue
Educating pension scheme members about defined contribution (DC) pension schemes and investments was voted the biggest pensions communications issue for 2011 according to a poll by Shilling Communication.Building trust and confidence in pensions, chosen by 32% of respondents, was the second most important topic, followed by communication of legislative changes ...
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Article
Nest Corporation reduces contribution charge to 1.8%
The annual management charge for members of the national employment savings trust will be 0.3%, while the charge on contributions has been reduced to 1.8%.This follows the government's announcement earlier this year that Nest would operate with both a annual management charge of 0.3% and a contribution charge of around ...
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Article
The Institute of Directors awarded NAPF pensions quality mark
The Institute of Directors (IOD) has awarded a Pensions Quality Mark Plus by the National Association of Pension Funds (NAPF) for its defined contribution (DC) pension scheme.The IOD’s director-general, Miles Templeman, said: “We are delighted to have been awarded the Pensions Quality Mark Plus for our staff pension scheme. It ...
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Brunel University promotes workplace fitness
More Energy, the fitness centre based at Brunel University, held a Green Travel Day to encourage its staff, students and the general public to improve their carbon footprint, become more environmentally friendly and be healthier.One of Brunel University's aims is to promote the health aspects of walking or cycling to ...
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Staff engagement linked to growing reward perception gap
Employee engagement levels have slipped back to lower than pre-recession levels due to a growing ‘reward perception gap’.Mercer's Employee Rewards, Benefits and Savings survey, which compiled responses from 79 UK organisations and 1,000 employees, found a striking disconnect between employers and employees on the perception and value of their organisation’s ...
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Scapa Group appoints Mercer to de-risk defined benefit pensions
The trustee of the Scapa Group’s pension schemes has appointed Mercer to provide investment services including de-risking for its two defined benefit (DB) schemes.The global adhesive tape manufacturer’s schemes have a combined fund value of around £80 million.Before undertaking a complex investment and liability hedging review, Scapa’s trustee evaluated the ...
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Staff should not expect lavish festive workplace celebrations
In this age of austerity employees may be wise not to expect much from festive workplace traditions such as the Christmas party.Research conducted by shopping website VoucherCodes.co.uk found that despite all their hard work, less than half (46%) of employees will be treated to a work Christmas shindig this year.The ...
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Analysis
2012 Pension Reforms
Download the PDF of the 2012 Pension Reforms supplement†Get into gear now for a new era in workplace pensionsStart getting up to speedSix steps to complianceHow to budget for auto-enrolmentProtection of the Nest