All Employee Benefits articles in Web Issue – Page 388
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Article
McDonald’s team working on strategy for pension changes
?McDonald’s has created a dedicated team to develop its strategy for the 2012 pension reforms and has looked at ways to mitigate the impact of changes in pensions tax for high earners.The fast-food chain is arranging company-funded sessions with consultancy Towers Watson for the 17 members of its executive team ...
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Analysis
Retirement savings: Sponsor's comment: Utilising workplace savings
An array of savings vehicles is available to employees, and education is needed to ensure they understand the full benefits, says Jonathan Watts-Lay, director of Wealth at WorkEmployees have more control over their savings than they have ever had before. And, with the introduction of new regulations and the additional ...
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Article
Clear Path Analysis research: Interest in bulk annuity transactions growing
UK pension schemes have seen a growth in willingness to enter into a bulk annuity type transaction, according to research from Clear Path Analysis.The research for Clear Path Analysis’ upcoming annual report, Pensions de-risking: longevity hedging and buying out, found that 31% of UK based pension schemes claim preparing for ...
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Analysis
Retirement Savings supplement
Download a PDF of the Retirement savings supplementSponsor’s comment: Utilising workplace savingsInvestment choicesChoosing a fund managerCorporate wrapsCorporate wrap products
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Article
Spinnaker Master Trust appoints HS Admin to administer DC pension
Spinnaker Master Trust, an occupational defined contribution (DC) pension scheme for non-associated employers, has appointed HS Admin to carry out all its administration.HS Admin, which was acquired by Goddard Perry Consulting in October 2010, has confirmed that pricing will range from a 0.25% to 1% annual management charge.Steve Goddard, managing ...
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Article
Global pension fund assets reach record high
Global institutional pension fund assets in the 13 major markets increased by 12% during 2010 to reach a record high of $26 trillion, according to research from Towers Watson.Its Global Pension Assets Study found the UK is the third largest pensions market, accounting for 9% of total pension fund assets ...
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Article
SEI research: Meeting funding goals is top pensions priority in 2011
Formulating a plan for meeting funding goals (75%) and making a scheme design change (73%) are the top two priorities this year for executives overseeing pension schemes for their organisation.According to a poll by SEI on the Top Pension Priorities for Pension Scheme Sponsors in 2011, a further 70% said ...
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Article
Financial sector replacing bonuses with increased pay and long-term incentives
Base pay increases, a greater use of deferred compensation and long-term incentives are replacing short-term incentives in the financial sector..According to Mercer's annual Pan-European Financial Services Executive Remuneration Survey, which provides base pay and bonus data for senior executive level positions, decreasing annual variable compensation levels have been balanced with ...
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Article
Friends Provident appoints Colin Williams and Paul McMahon moves to Aegon
Friends Provident has appointed Colin Williams director of corporate.Williams’ predecessor, Paul McMahon, has joined Aegon as group marketing director.In his new role at Friends Provident, Williams will be responsible for the development and implementation of the workplace savings strategy in the corporate benefits market, and will manage the ongoing integration ...
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Article
UK pension deficits reach £1,334 billion
UK corporate pension liabilities have grown to £1,334 billion, based on assumptions as at 31 December 2010, according to the Xafinity Corporate UK Pension Scheme model.Continuing pressure from longer life expectancies and falling yields has driven these liabilities up by over £500 billion in just two years.December 2010 brought some ...
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Article
New sharesave rates to apply from 27 February
Higher interest rates are to apply to new savings contracts linked to sharesave or save-as-you-earn (SAYE) schemes from 27 February 2011.The rates have been adjusted as the fixed-gap margins between the bonus rates and market reference swap rates were breached on 31 January.The new rate for a three-year savings contract ...
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Article
UBS cuts bonus pool
UBS has reduced its bonus pool by 10% for the 2010 financial year compared to 2009.The bank’s board of directors approved a total bonus pool of Swiss francs (CHF) 4,319 million, down from CHF 4,779 million in 2009.Of the total bonus pool for 2010, CHF 1,550 million will be deferred ...
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Article
Thomas Cook readjusts targets for long-term incentive plan
Thomas Cook has readjusted targets for its three-year long-term incentive plan.Thomas Cook adjusted the targets of its three-year bonus package, which started in 2007 for the travel firm's most senior staff, as a result of the volcanic ash cloud, which caused major disruption for travel operators.In its latest annual report ...
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Article
Nest to recruit employers to sit on panel
Nest Corporation has started the recruitment process for members to sit on its employer and member panelsThe member panel will play a role in representing view of members of the national employment savings trust (Nest) and future scheme members to the trustee. Meanwhile, the employer panel will provide a communication ...
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Article
Transport for London re-appoints corporate actuarial adviser
Transport for London (TFL) has re-appointed Punter Southall as its corporate actuarial adviser following a selection exercise.Punter Southall will continue to provide strategic advice on TFL’s pension arrangements and the impact of any changes in legislation.The TFL pension fund has over 80,000 members with assets of around £5 billion.Punter Southall ...
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Article
Uniq proposes deal to plug £400 million pensions deficit
Uniq has proposed a solution for the deficit of its final salary pension scheme.The proposal from the chilled convenience food group has been cleared by The Pensions Regulator but is subject to approval by shareholders and the sanction of the High Court.The pension trustee has agreed to release Uniq from ...
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Article
Cycle to Work Alliance research: Bikes-for-work schemes improve employee engagement
The majority (89%) of employers believe bikes for work is an important tool for improving employee engagement and 98% of employees said they would encourage their colleagues to take part in the scheme.The Cycle to Work Alliance’s Behavioural Impact Analysis, which had over 44,500 respondents, examined the benefits of the ...
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Article
NA Motors pension scheme transfers to FAS
The NA Motors pension scheme is one of the first to successfully transfer to the Financial Assistance Scheme (FAS).The transfer, completed by Dalriada Trustees, will see the FAS make payments to top up scheme benefits for eligible members.The sponsoring organisation of the NA Motors pension scheme, a Ford car dealership, ...
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Article
Dark haired employees on island resort to be given blonde wigs
It would appear that sex discrimination and gender equality laws have failed to reach a man-made island that is shaped like a high-heeled shoe in the Maldives.Lithuanian firm Oilalia wants to staff the planned luxury resort on the island with only blonde women.But Maldivian laws state that at least 50% ...
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Article
FTSE 100 pension deficits improve by £29 billion
The total deficit of the FTSE 100 pension schemes has improved by £29 billion, according to research from Pension Capital Strategies (PCS).The latest quarterly FTSE 100 report found that the total deficit amounted to 28 billion at 31 December 2010, down from £57 billion 12 months ago.The report also found ...