All Employee Benefits articles in Web Issue – Page 416
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TUI Travel finalises funding plan for defined benefit pension schemes
TUI Travel has finalised its funding and management plans for its defined benefit (DB) pension schemes.The travel firm’s interim results stated that it had reached an agreement with trustees and unions to cap the rate of future growth of pensionable pay for its UK DB schemes to a maximum of ...
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Grid research: Public sector workers suffer more from stress
Public sector workers suffer more from stress than their private sector counterparts, according to new research from Group Risk Development (Grid).The Group Risk Employer Research, conducted among 500 employers, found that stress is the biggest cause of long-term absence amongst public sector employees, running at almost three times the level ...
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Office for National Statistics research: Total pay and bonuses on the rise
Total pay and bonuses rose by 2.3% for the three months to March 2011, according to the Labour market statistics from the Office for National Statistics.Annual growth rate for regular pay, excluding bonuses, was 2.1% for the three months to March 2011, down from 2.2% for the three months to ...
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London Underground makes five-year pay offer
London Underground (LU) has made a revised five-year pay offer to trade unions which would see staff get a 4.5% pay increase this year, followed by a rise of inflation plus 0.25% increase in the four subsequent years.A further guarantee has also been given that London Underground would not take ...
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Mercer research: Mental health issues have become primary cause of staff absence
Mental health has overtaken musculoskeletal issues as the primary cause of staff absence in the UK and Europe, according to data gathered by Mercer.Data gathered by the consultancy from Unum and Canada Life also reveals that mental health issues were the primary cause of income protection claims by UK employees ...
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Dental care provided to prison guard dog
Employers might be surprised to discover that dental benefits are not only appreciated by the human members of their workforce.In Australia, a prison guard dog called Axel has been fitted with titanium teeth after he shattered his real teeth while biting into his bed board.Not only does the four-legged employee ...
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Aegon UK announces job cuts in its life and pension business
Aegon UK has announced 213 job cuts across marketing, IT and personal assistant support roles in its life and pension business.The cuts are part of the latest developments relating to the firm's restructuring programme and its aim to reduce operating costs by 25% at the end of 2011.Aegon UK also ...
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DWP reviews auto-enrolment legislation prior to finalisation of Pensions Bill
The Department for Work and Pensions (DWP) is reviewing the draft regulations relating to auto-enrolment prior to the finalisation of the Pensions Bill.The DWP is consulting informally on the regulations with a view to a formal consultation once the bill receives royal assent.For employers that operate variable pay, the DWP ...
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Barnett Waddingham research: Employers and trustees doubt sustainability of PPF
Sponsors and trustees continue to have doubts about the sustainability of the pension protection fund (PPF) as a standalone entity, according to research conducted by Barnett Waddingham.Many of the respondents to the actuarial and consultancy firm's third annual PPF survey said that the methods for assessing the levy are not ...
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EEF research: Manufacturing pay returns to historic level
Manufacturing pay has risen to 2.5% in the three months to the end of April 2011, but is a return to historic levels according to data from the manufacturers' organisation EEF. The May 2011 Pay Bulletin, from the EEF and Jam Recruitment, found that the average pay settlement for the ...
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Government unveils plans to increase the number of employees using payroll giving
The government has unveiled plans to significantly increase the proportion of employees who make donations through their employers' payroll.In its white paper on charitable giving and volunteering, the government announced that it will run a year-long national profile-raising campaign.As part of the campaign, the government will work with the Institute ...
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DC Leisure to offer health assessments
DC Leisure, a firm which develops and manages leisure facilities in partnership with local authorities, will provide health assessments as part of its wellbeing and health services.The health assessments will be introduced as a result of a three-year deal with Capita HR Solutions, which will provide a range of HR ...
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Pensions minister Steve Webb urges for crackdown on enhanced transfer values
Pensions minister Steve Webb has urged for a crackdown on the use of enhanced transfer values (ETVs) when employees move from final salary pensions to defined contribution schemes.Webb, who met with industry representatives and The Pensions Regulator this week, is concerned about employers offering staff large cash lump sums or ...
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3663 launches employee lottery scheme for charity
Food service distributor 3663 has launched an employee lottery scheme to raise money for its nominated charity Hospitality Action.Employees have the chance to take part in the monthly Big Prize Draw by contributing as little as £1 a week in a bid to win 50% of all contributions tax-free, with ...
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Debi O’Donovan: Health benefits march to a different tune
“Our show begins in five minutes,” booms the tannoy announcement over the upbeat music ahead of the 8:30am opening session of WorldAtWork’s Total Rewards 2011 conference.The two thousand-seater ballroom at the San Diego Convention Centre is filling up with coffee-clutching, Blackberry-wielding reward managers ready for two-and-a-half days of inspiration on ...
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WorldAtWork Total Rewards 2011: Abbott Laboratories roll out total reward statements to Ireland
US-headquartered Abbott Laboratories has seen a 36% take up of the total reward statements (TRS) it launched to its 4,000 Ireland-based staff last October. This compares to the current over-90% take-up rate among its 32,000 US staff.Speaking at WorldAtWork’s Total Rewards 2011 conference in San Diego, Denise Johansen, director of ...
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Debi O’Donovan: Are sales people coin-operated?
Tell the average line manager that sales people are ‘coin-operated’ and you are likely to get a wry but knowing smile. It is a common assumption that if you stop paying the sales force commission, they will stop selling.But this assumption is wrong, according to Daniel Pink, business writer and ...
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Axa PPP Healthcare adds medical case management to international health insurance
Axa PPP Healthcare has enhanced its international health insurance plan with the introduction of a personal medical case management service.The service, provided by Medix Medical Services, will enable employees who may require surgery or treatment of a number of serious medical conditions to secure expert guidance, supervision and support.A dedicated ...
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Marks and Spencer reduces pension scheme deficit
Marks and Spencer's pension scheme has moved into surplus following the introduction of assets as part of its funding plan.The retailer’s full-year results for 2010/2011 showed that at 2 April 2011 the net retirement benefit surplus was £168.5 million, compared to a previous deficit of £366.5 million.The fall in liabilities ...
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BGL Group launches monthly prize draw for staff
The BGL Group has launched a monthly prize draw for its 2,150 employees across the UK as part of efforts to create a fun working atmosphere.The insurance intermediary’s first ten winners were announced in April, and took home prizes ranging from luxury weekend breaks to shopping and holiday vouchers. Each ...