All Employee Benefits articles in Web Issue – Page 415
-
Article
Clare Varndell: Total Reward Statements are the key to employee retention
Even now, when times are hard, most employers are spending between 10% and 30% of their salary bill on employee benefits. This is a staggering amount of money, but do employees fully appreciate and recognise the value of the extras they are getting?So many employees think the grass is greener ...
-
Article
H2 Bike Run launches fitness club aimed at London commuters
A private members club called H2 Bike Run has opened its doors. Targeted at London commuters who run, cycle or walk to work, it can be included in an organisation’s health and wellbeing offering to its staff.The core idea behind H2 is to find a solution for commuters who care ...
-
Article
Government to consult on employment law reforms
The government has announced new areas that it will consider reforming as part of its review of employment red tape. This includes reforming: compensation for discrimination awarded by employment tribunals; collective redundancy consultation periods; and the transfer undertakings protection of employment regulations (Tupe).Edward Davey, employment relations minister, detailed the plans ...
-
Article
University employers agree proposed changes to pension scheme
University employers have agreed changes to its pension scheme.The Universities Superannuation Scheme (USS) Joint Negotiating Committee (JNC) has agreed proposed changes to the scheme, which include the implementation of a career average revalued earnings (Care) structure for new entrants.The University and College Union (UCU) has warned that universities could face ...
-
Article
Network Rail staff receive 10% pay rise to prevent strikes during the Olympics
Network Rail staff have been handed a 10% pay rise to prevent strikes during next year’s Olympics.The deal gives employees with special duties during the Olympics additional pay of £3.50 per hour. This applies to about 800 staff and worth about £500 over the period.Also part of the agreement is ...
-
Article
Linklaters follows Allen and Overy with ban on associate pay rises
Linklaters has become the latest law firm to freeze its associate salary bands for the 2011-12 financial year, holding them at the same level for a second consecutive year.As reported in Employee Benefit’s sister title The Lawyer, associates at the firm will continue to move through the pay bands as ...
-
Article
British Airways reaches deal in 18-month cabin crew dispute
British Airways and union Unite have reached an agreement to resolve the 18-month cabin crew dispute.The agreement, which will see the restoration of generous travel concessions and a two-year pay deal which will see wages rise by 4% this year and 3.5% in 2012, will be put to a ballot ...
-
Article
BT pension scheme recovery plan put on hold by The Pensions Regulator
A review of the BT pension scheme’s (BTPS) funding valuation and recovery plan has been put on hold by The Pensions Regulator (TPR).At 31 March 2011 the pension scheme’s deficit was £1.4 billion compared with a deficit of £5.7 billion at 31 March 2010.The market value of the BT pension ...
-
Article
Mind research: Employers should make staff wellbeing a corporate priority
Organisations of all sizes should make staff wellbeing a corporate priority and introduce workplace mental health policies that promote wellbeing for all staff, tackle work-related mental health problems and support staff who are experiencing mental distress.According to mental health charity Mind's Taking care of business campaign, which surveyed over 2,000 ...
-
Article
Towers Watson research: FTSE 100 firms preparing for 2012 pension reforms
The majority of FTSE 100 firms are preparing for the 2012 pension reforms, according to research by Towers Watson.The annual FTSE 100 Defined Contribution Pension Scheme Survey found that 90% of the FTSE 100 have already considered the impact that changes will have on their businesses and employees.The survey found ...
-
Article
Cyclescheme launches new website for employers and employees
Cyclescheme has launched a new website aimed at employers which operate, and employees who participate in, bikes-for-work schemes.For participants, Cyclescheme has created a community section where users can access vital cycling information, news and reviews as well as being able to engage with their colleagues. Employees can forecast their mileage, ...
-
Article
High Pay Commission research: Executive pay is grossly unequal
Wage disparity between the UK’s high earners and the rest of the working population is grossly unequal, according a report from the High Pay Commission.Its report More for less: what has happened to pay at the top and does it matter? found that the top 0.1% of UK earners will ...
-
Article
NAPF publishes new guide to help pension funds understand foreign exchange
The National Association of Pension Funds (NAPF) has published a guide to help pension funds better understand foreign exchange and how to cope with its risks. Many pension funds hold investments outside the UK, particularly in Europe, the United States and the far East. These can provide higher returns, but ...
-
Article
Prudential research: Retirement income gender gap has reduced
The retirement income gap between men and women has shrunk by £900 to £6,500 since last year, according to new research from Prudential.The Class of 2011 study, which surveyed employees planning to retire this year, found that the average woman expects an annual income of £12,900 compared with an average ...
-
Article
The Pension Protection Fund to adopt new levy framework
The Pension Protection Fund (PPF) will adopt a new framework which will see it fix levy rules for three years and average funding levels so that short-term volatility in the financial markets is not reflected in the measure of underfunding risk.In addition, investment risk will be reflected in the levy ...
-
Article
The Pensions Regulator to advise employers on pension reform duties
The Pensions Regulator (TPR) is writing to the UK’s largest organisations, alerting them to their new pension duties that will begin in 18 months.The staged auto-enrolment and compulsory contribution dates begin in October 2012 for organisations with more than 250 employees. TPR is providing a five-point checklist alongside the notification ...
-
Article
Towers Watson research: Pay issues are most important HR priority in financial services sector
A third of HR professionals from the financial services industry view pay issues as the most important HR priority, according to a poll conducted by Towers Watson.The Towers Watson Global Financial Services HR Study 2011, which involved 130 HR professionals from over 60 of the largest global banking and financial ...
-
Article
Standard Life suspends Gerry O'Neil and James Verner
Standard Life has suspended Gerry O’Neil, managing director of corporate solutions, and James Verner, sales director at Vebnet, pending further investigation.The firm says it is unable to disclose the reason for the suspension at this time but adds that O’Neil had been relieved of his role after the launch of ...
-
Article
CIPD/KPMG research: Pay inflation may rise in next twelve months
Pay inflation may rise over the next twelve months, as new research from the Chartered Institute of Personnel and Development (CIPD) and KPMG has found that more employers have forecast that they will increase salaries.This quarter’s Labour Market Outlook found that average pay award expectations across all sectors has risen ...
-
Article
Unum keeps group critical illness business
Unum has confirmed that, while it is withdrawing from the individual critical illness market, it will continue to provide group cover.Unum is withdrawing its individual critical illness cover product to allow increased focus on income protection.A statement from Unum said: “We will continue to provide group critical illness cover products ...