All Employee Benefits articles in Web Issue – Page 423
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Mercer extends workplace savings product with enhanced annuity terms
Mercer has expanded its workplace savings product by offering enhanced annuity terms to scheme members through a partnership with The Open Market Annuity Service.Employees will be able to submit medical information online, by phone, or via a tailored questionnaire to identify the most appropriate annuity on the open market, based ...
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Canada Life research: Employees want to customise their own benefits packages
Employees would like to pick and choose their own benefits, according to new research by Canada Life Group Insurance.The research into flexible benefits found that 41% of employees would like the opportunity to customise their own benefits package, while just 3% have the flexibility to change their existing benefits.Only 12% ...
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Toray Textiles Europe enters into pension buy-out with Pension Insurance Corporation
Pension Insurance Corporation has entered into a pension insurance buy-out agreement with Toray Textiles Europe’s pension scheme.The transaction covers approximately £63 million of liabilities and 800 scheme members.The manufacturer of woven polyester and nylon fabrics is owned by the Japanese organisation Toray Industries. It is the fourth Japanese-sponsored pension insurance ...
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IFF Research: UK faces challenge to embed volunteering culture at work
The UK faces a challenge to embed volunteering in workplace cultures, as research from IFF Research found that just 7% of employees have done voluntary work on paid work time at their current employer.The research, part of IFF Research’s Attitudes to Work study, found that 38% of respondents said that ...
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Employee Benefits Award 2011 winners
The 2011 Employee Benefits Awards took place at the HAC in London on 9 June. Hosted by Stephen Mangan on behalf of Employee Benefits magazine and celebrating the best in benefits, just 21 winners were selected from a massive list of over 100 finalists. This year the awards attracted over ...
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Hertfordshire County Council outsources pensions administration
Hertfordshire County Council has appointed the London Pensions Fund Authority (LPFA) to look after pensions administration and payroll.The contract, expected to make savings of £1.6 million over eight years, covers both the Local Government Pension Scheme (LGPS) and Hertfordshire Fire and Rescue Services pension schemes.Mike Taylor, chief executive of LPFA, ...
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Zenith Provecta introduces bikes-for-work scheme for staff
Zenith Provecta has introduced a bikes-for-work scheme for its employees.The scheme, which is provided by Edinburgh Bicycle Co-op, has been rolled out as part of the organisation’s corporate social responsibility (CSR) policy. It is available through a salary sacrifice arrangement.Through the scheme, employees choose a new bike, which is purchased ...
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City workers raise money for juvenile diabetes research
Employees in the City of London took part in a sponsored lunchtime spin event to raise money for the Juvenile Diabetes Research Foundation (JDRF).The Spin to Cure Diabetes event saw 33 teams of five take part in the eight-minute sprint challenge on static bikes outside the Royal Exchange in London ...
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Edenred launches series of guides to coincide with National Eye Health Week
Edenred is launching a series of guides aimed at helping employers understand their obligations in promoting eyecare to staff.Coinciding with the Vision Matters National Eye Health Week (13-19 June), the benefits provider has also developed a white paper called Developing a Company Eyecare Policy – Your Options and Legal Obligations. ...
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The Royal College of Music appoints Premier Pensions Management
The Royal College of Music’s pension and assurance scheme has appointed Premier Pensions Management to provide pension administration and actuary services.The college offers a final salary pension scheme for staff. The scheme, which has assets of £6 million, is currently closed to new entrants.Read more articles on final salary pension ...
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Aviva UK Health research: Employers struggle to help staff return to work after serious illness
Employers are still finding the timely return to work of absent employees challenging, particularly complex conditions such as cancer, according to new research from Aviva UK Health. The online poll found that 19% of respondents have experience of staff living with cancer. More than half (61%) said their primary concern ...
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ITN adds perks to voluntary benefits scheme
ITN has added dental insurance, health cash plans, gym memberships and travel insurance to its My ITN voluntary benefits scheme.The news organisation has also added a Merlin pass for discounted theme park entry, a dining-out card and a wine club to the online scheme it introduced in 2010.To publicise the ...
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Creative Benefits launches auto-enrolment services
Creative Benefits has introduced services designed to assist employers with the auto-enrolment of staff into occupational pension schemes from 2012.The firm, formerly known as Creative Benefits Solutions, coincided the launch of five services with its rebrand and name change in May.Issues covered by its auto-enrolment services are: strategy and budget, ...
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L’Oreal awarded the Pension Quality Mark
L’Oreal has received the Pension Quality Mark (PQM) for its defined contribution (DC) pension scheme.Awarded by the National Association of Pension Funds (NAPF), the PQM is awarded to employers that meet the following criteria: good quality governance and low charges, clear and ongoing communication with the scheme members, and good ...
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Threadneedle Pensions' portfolio to be provided by Legal and General
Legal and General Workplace Savings has become the product provider for Threadneedle Pensions’ full service group pension portfolio.As a result of the agreement Legal and General Workplace Savings has added several of Threadneedle Pensions funds to its platform.Trustee and pension scheme sponsors offering Threadneedle Pensions’ defined contribution (DC) pensions are ...
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De Montfort University introduces employee assistance programme
De Montfort University has introduced an employee assistance programme (EAP) for its 3,300 employees.Provided by FirstAssist, part of the Capita Group, the EAP offers staff a confidential counselling service via both the telephone and face to face, as well as a legal and financial helpline.Employees will also have access to ...
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JLT Benefit Solutions research: Half of employers unaware of auto-enrolment costs
Half (50%) of employers still do not know how much auto-enrolment will cost them in terms of initial compliance and contributions in the first 12 months.The JLT 250 Club research, by JLT Benefit Solutions, into the 2012 workplace pension reforms is based on the views of 250 employers with workforces ...
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Cisco, Sage, and City and Guilds win hat trick for one adviser at Employee Benefits Awards
Cisco, Sage, and City and Guilds were among the winners at the Employee Benefits Awards 2011.The three organisations, nominated by their adviser Thomsons Online Benefits, took home four awards in total: Cisco won ‘Most effective use of a flexible benefits plan’ and ‘Most effective sickness absence management strategy’; Sage won ...
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Royal Mail decreases pension deficit to £4.5 billion
The Royal Mail Group has cut its pension scheme deficit from £8 billion in 2010 to £4.5 billion in 2011, but still describes it as a disproportionate burden on the business.Its annual results for 2010/11 stated that the decrease in the accounting pension scheme deficit was driven by an actuarial ...
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Ukranian football team have pay docked when they lose
In many industries, reward is closely linked to performance. However, in football, players take home bumper pay packets, regardless of whether they perform on the pitch or score on their own goal during a crucial match.Ukranian football team Dynamo Kiev, however, has taken a new approach to motivating players, which ...