All Employee Benefits articles in Web Issue – Page 381
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Dorset County Council appoints JLT to aid investment strategy
Dorset County Council has appointed JLT Benefit Solutions to aid with an asset study following on from the council’s triennial pension scheme valuation which will set out its investment strategy going forward.The council’s pension fund has around £1.5 billion in assets and 51,000 pension scheme members.Nick Buckland, investment manager at ...
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Cordant Group loses case to treat travel expenses as part of minimum wage
The Cordant Group, which employs 30,000 staff in the UK and Ireland, has lost a case in which it challenged business secretary Vince Cable over the 2011 amendment to the national minimum wage regulations.On 1 January, the government amended the national minimum wage regulations, preventing employers from treating travel expenses ...
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National Grid workers vote to strike over pay
Workers at National Grid have voted for industrial action after a dispute over three-year below inflation pay offer.The deal, which consisted of a pay rise of 2.5% in year one and a 2.25% increases in years two and three, was rejected by members of union Unite. Talks over employees' pay ...
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Managers in Ireland expect salaries to stay static in 2011
The majority (63.6%) of managers in Ireland expect salaries in their organisations to stay the same in 2011, according to figures from Morgan McKinley's latest Salary Survey 2010.The company surveyed 723 senior-level operational and HR managers across the finance, technical, office support and IT functions in organisations in Ireland.Karen O’Flaherty, ...
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AllianceBernstein launches target date funds for DC pensions
AllianceBernstein has launched a range of target date funds for defined contribution (DC) pension schemes.The range of retirement strategies funds combines the features of the traditional approaches of lifestyling balanced (diversified growth) strategies and liability-driven investment.The funds are aimed at occupational and contract-based DC scheme members who do not have ...
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Pizza Hut appoints Mercer to de-risk pension plan
The trustees of the Pizza Hut (UK) Investment Plan have appointed consultancy Mercer to provide de-risking services as part of an implemented investment solution for its £50 million pension fund.As part of a review of investment governance arrangements, the trustees considered the overall investment objectives for the plan, with an ...
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Alltrust partners with Bupa International in China
Chinese insurer Alltrust has formed a partnership with expatriate health insurer Bupa International.From 27 January 2011, Alltrust will offer a range of health insurance products for expatriates working in China, which will be administered by Bupa International. Henry Du, chairman of Alltrust, said:“Our partnership concludes a rigorous search for the ...
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Female workers feel they are underpaid
Female workers in the UK continue to feel the effects of the gender pay gap, according to new research from MySalaryChecker.com.The research from the salary comparative site revealed the majority of women (80%) in the UK felt they were being underpaid, a third (38%) of whom thought by as much ...
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Super Trust UK appoints Pitmans Trustees
Multi-employer defined contribution (DC) pension provider Super Trust UK Master Trust has appointed Pitmans Trustees to act as an independent trustee for the scheme, which has around 14 participating employers and assets of around £14 million.Richard Butcher, managing director of Pitmans Trustees, said: "Given the increasing profile and popularity of ...
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Employers sustain benefits despite economic climate
Despite difficult economic conditions, 84% of employers believe the value of their benefits package has been maintained over the past 12 months, according to research conducted by industry body Group Risk Development (Grid).The survey of 500 employers also showed 37% are considering increasing their investment in benefits this year, but ...
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Department for International Development renews investment in staff fitness
The Department for International Development (DFID) London and Scotland has renewed its contract with Energy Fitness Professionals (EFP) for management of its fitness centres.The renewal of the contract has been combined with a re-brand of the centres from Wellbeing Centre to Energise.The re-branded centres were launched in conjunction with DFID’s ...
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Towers Watson and Vebnet partner in Latin America
Towers Watson and Vebnet have announced a formal partnership in Latin America.The partnership combines Towers Watson’s knowledge in benefits, investment and communications consulting with Vebnet’s technology to support organisations that need portal-based flexible employee benefit schemes.The two organisations already have a similar partnership in Asia Pacific.Towers Watson will combine Vebnet’s ...
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Lloyds Banking Group increases bikes for work take up
Lloyds Banking Group has increased take up of its bikes-for-work scheme.The bank, which owns Lloyds TSB and HBOS, set up its scheme through Halfords in 2006.In the first year 146 staff signed up and that has risen to 906 this year, an increase of almost 10% on 2010.The scheme enables ...
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City and Guilds introduces online voluntary discounts
City and Guilds has introduced an online voluntary discount scheme for employees.The vocational qualification awarding body introduced the new scheme when it changed flexible benefits providers to Thomsons Online Benefits in August 2010.The portal, provided by Asperity in partnership with Thomsons, opened to City and Guilds’ 900 UK employees in ...
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Most employees do not expect to save enough to retire comfortably
More than half of workers (58%) in the UK believe they will fail to achieve the minimum income necessary to have a comfortable retirement, according to research commissioned by Shilling Communication.The survey Shilling Communication: Pension snapshot, carried out by YouGov, found that 53% of respondents under 30 saw saving as ...
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Mitie offers staff mental health first aid training courses
Strategic outsourcing firm Mitie is offering free mental health first aid training courses to its 57,000 staff.Mental Health First Aid (MHFA) provides the courses to public and private sector organisations to support them in dealing with staff that experience mental health problems. The course provides comfort and promotes recovery for ...
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Employee Benefits reporter shortlisted for media award
Employee Benefits’ senior reporter Nicola Sullivan made the top three in the ‘Journalist To Watch’ category at WorkWorld Media Awards 2010 last night.The awards, now in their 24th year, are run by the Work Foundation.
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Hay Group research: Pay increases will be higher in 2011
Private sector pay increases in 2011 will be higher than in 2010, at a median 2.5%, while public sector employees will see a rise of only 0.4%, according to Hay Group’s Reward in 2011 report.The majority (82%) of private sector organisations indicated they would increase salaries in 2011. Less than ...
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Private sector staff to receive higher bonuses
The private sector employees will receive higher bonus payments this year, according to research by Incomes Data Services (IDS).The IDS Managers Benchmark Pay Report showed more than three times as many private sector firms are expecting to pay higher bonuses in 2011 compared to those who believe they will pay ...
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Goldman Sachs awards staff £10bn in pay and bonuses
Goldman Sachs is to award its staff nearly £10 billion ($15.38 billion) in pay and bonuses for 2010.The figures, announced yesterday, will see the investment bank’s 35,700 staff around the world handed a compensation package worth an average of £269,000 ($430,000) per employee.Lloyd Blankfein, chairman and chief executive officer, Goldman ...