All Employee Benefits articles in Web Issue – Page 373
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DWP drops plans to prevent transfer of full pension from DB to DC schemes
After a three-month long consultation, the government is to drop plans which would have prevented members of defined benefit (DB) pension schemes from transferring their full pension to UK defined contribution (DC) arrangements.Draft legislation published by the Department of Work and Pensions in June would have prevented the transfer of ...
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Thames Water re-appoints pension scheme administrator
Thames Water has re-appointed Capita Hartshead as administrator to its two pension schemes.The renewed contract will run for six years from January 2011.The two schemes, which are both defined benefit (DB) arrangements, have a combined membership of around 13,000.As well as administration, Capita Hartshead will be providing pension payroll and ...
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Hutton review reveals 20,000 public sector workers earn £117,523
Around 20,000 employees of the six million-strong public sector workforce earn more than £117,523 a year, according to a review conducted by Will Hutton.The Hutton review of fair pay in the public sector: interim report showed that 4,000 of those in the top percentile of wages are in public managerial ...
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Historic Scotland to implement HR self-service system
Historic Scotland has signed a five-year contract with NorthgateArinso for a combination of systems and outsourcing services.The Scottish Government agency responsible for Scotland’s historic environment will adopt NorthgateArinso’s ResourceLink Aurora system including the HR self-service modules, from an anticipated implementation date of March 2011.The system will also include an interface ...
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Dentistry and your employees
Many health problems have early-warning signs in the mouth, which are detectable by a dentist, including heart disease, stroke and diabetes.The earlier the signs can be detected, the greater the chance of successfully treating the problem. This white paper explains how good dental health supports the overall wellbeing of employees, ...
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Dental plans as an employee benefit
NHS dentistry in the UK has been a topic of much discussion and debate in the media over recent years. Both companies and employees recognise the issues in accessing an NHS dentist at present, with 81% of company decision makers and 67% of employees aware of difficulties regarding access. This ...
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Reward First People Consulting launches mentoring programme for reward professionals
Reward First People Consulting has launched a programme to provide reward decision makers with one-to-one mentoring programme for reward decision makers to help them address the challenges associated with restricted budgets.The structured programme, Reward First, enables HR professionals, faced with calls for greater accountability around pay and bonuses, to improve ...
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Defined benefit deficits grow despite record company contributions
The aggregate accounting deficit for large multi-national organisations stood at €160 billion (£135 billion) at the end of September 2010, up from €150 billion at the end of last year, according to Lane Clark and Peacock's (LCP) European Pensions Briefing 2010.The increase comes despite companies pumping a record €40 billion ...
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BBC reaches possible deal in pensions dispute
An agreement to end a dispute at the BBC over changes to its pension scheme has been reached following a meeting with union representatives.Negotiators from the National Union of Journalists (NUJ) and the BBC came close to resolving the dispute, which resulted in strike action earlier this month, during discussions ...
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Asperity Employee Benefits acquired by Inflexion
Asperity Employee Benefits has been acquired by private equity investor in a £25.5m buy-out deal.The move will enable Asperity to accelerate its plans to expand into international markets, which have been spurred on by clients' cross-border demands.Glenn Elliott, founder and managing director of Asperity Employee Benefits, said: "Everyone at Asperity ...
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Government launches consultation into annual allowance charges
The government has proposed allowing any individuals that exceed the annual allowance to pay the tax charge from their pension pot, rather than their salary.In its latest consultation, HM Treasury suggest the minimum size for tax bills that individuals can elect to pay from their pension benefits be set between ...
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Workers in Kabul given Thurdays off until the spring
During the winter months, workers in the Afghan capital Kabul have been given Thursdays off each week to help cut pollution, but will have to make up the hours when spring arrives.Kabul is set among mountains that are snow-capped for most of the year but also trap fumes from the ...
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Sainsbury’s and Employers for Carers support carers in the workplace
Sainsbury’s and Employers for Carers have teamed up with Carers UK to support three million carers in the workplace.Launched on Carers Rights Day 2010, the Carers UK initiative is calling on employers to regularly review HR policies to ensure carers are recognised.Employers are also urged to consider additional measures to ...
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Co-operative Employee Benefits launches bikes-for-work scheme
Co-operative Employee Benefits is launching a new bikes-for-work scheme to run alongside its existing childcare voucher product.Bikes for work, the government-supported initiative, allows employers to purchase a bike and accessories as chosen by an employee who then hires it from the employer over 12 or 18 months.The payment comes directly ...
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Xafinity Pension Trust receives Pension Quality Mark
The Xafinity Pension Trust (XPT), a mastertrust defined contribution (DC) pension product, has been awarded the Pension Quality Mark (PQM).XPT provides members with access to a DC pension arrangement. All communications can be tailored to fit with an organisation’s brand.The PQM standard was launched in 2009 by the National Association ...
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Private sector employers asked to publish gender pay data voluntarily
Employers with more than 250 employees will not have to publish gender pay data, as previously proposed under the Equality Act 2010.Instead, they will be asked to do so on a voluntary basis.As part of the government’s Equality Strategy, which was announced 2 December by Equalities Minister Lynne Featherstone, the ...
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V launches volunteering tool for employers
Independent charity, v, has launched a web-based tool to enable employers to offer, implement and measure volunteering opportunities to staff.Key features of its Volunteering Works tool include built-in social marketing for employees to share their experiences, and real-time reporting to enable HR managers to set targets for the volunteering programme ...
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HMRC publishes consultation on PAYE system
HM Revenue & Customs (HMRC) has published a consultation document called Improving the operation of Pay As You Earn: Collecting Real Time Information.Pay as you earn (PAYE) real time information means employers will send HMRC information about tax and other deductions from employees’ pay when the employee is paid, rather ...
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Northumbrian Water cuts pension deficit
Northumbrian Water has announced a reduction in its defined benefit pension deficit from £133.1 million at the end of March to £106.6 million in September.The cut in the deficit is due to a reduction in the liabilities of the scheme (£52.9 million), which has more than offset a reduction in ...
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Trustees unsatisfied with advisers’ behaviour
Trustees are unsatisfied and suspicious of advisers’ behaviour, according to a poll carried out by pensions adviser Hamish Wilson.The poll revealed that only 45% of trustees are satisfied advisers are not feeding them a subjective view, while 85% of trustees believe the best decisions are made by themselves.Hamish Wilson suggests ...