All Employee Benefits articles in Web Issue – Page 425
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Employee Benefits Summit 2011: Decent pay rises are back on the agenda
Just over a third (37%) of delegates at the Employee Benefits Summit 2011, are are now offering staff decent pay increases although these are not as high as pre-recession levels.A further 33% said they were only able to give some staff good pay increases, while the majority of the workforce ...
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Staff use internet to flirt at work
Employers that provide staff with access to social networking sites at workcould unknowingly be giving them the tools they need to flirt or start anaffair with a fellow colleague.While access to sites like Facebook and Twitter, might be consideredas a ‘fringe’ workplace perk, when their usage is combined with ever-longerworking ...
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Mercer launches diversified growth fund for workplace savings
Mercer has launched a diversified growth fund for its workplace savings offering.The fund, which will make up the core of the default offering, will give members access to asset classes and investment strategies not usually open to them.The fund is suitable for defined contribution (DC) schemes, in terms of liquidity ...
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Aon Hewitt research: UK employers unprepared for auto-enrolment
UK employers are not ready for auto-enrolment as part of the 2012 pension reforms, with a significant proportion yet to start preparations, according to a poll of conference attendees by Aon Hewitt.The poll results found that over a third of the respondents' schemes had yet to undertake pension contribution cost ...
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Bluefin launches service to help trustees manage pension scheme risk
Bluefin, in collaboration with consultancy firm Redington,†has launched a product to give trustees an understanding of the risks of their pension scheme.The offering, designed for defined benefit (DB) schemes with assets up to £300 million, also offers a number of solutions and consultancy services to eliminate unrewarded risk.Eamonn O’Connor, head ...
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NAPF research: Young staff would save more if they knew what to expect from state pension
Half (47%) of those aged between 18 and 34 would save more for retirement if they knew how much state pension they would get.That number fell to 38% among those aged 35 to 44, and 33% for those 45 to 54, according to figures from a Populus survey for the ...
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XpertHR research: Pay in manufacturing sector on the rise
Employees in the manufacturing sector have seen a median pay increase of 3% compared to 1.5% of those in the service sector, according to research by XpertHR.The findings, based on 309 pay awards effective in the three months to the end of May 2011 and covering more than 3.7 million ...
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BMS World Mission awarded Pension Quality Mark
BMS World Mission has been awarded a Pension Quality Mark (PQM) from the National Association of Pension Funds (NAPF) for offering its staff around the world a high-quality defined contribution (DC) pension.The charity won the accolade for providing good employer-funded contribution rates, which are clearly communicated to employees.David Locke, director ...
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Employee Benefits Summit 2011 – speaker slides
Below are the slides from the conference programme at the Employee Benefits Summit which took place near Sintra, Portugal on 22-24 June.Click on the name of the speaker to download the Power Point slides.What is the Future of Reward Strategy?Helen Murlis, Author, Reward Management – A Handbook of Remuneration Strategy ...
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Admiral Group staff share £1.6m bonus pot
Admiral Group has shared a bonus payout of £1.6 million among its 2,500 employees.The payout is made up of dividends paid to staff participating in the car insurance group’s approved share incentive plan (Sip) and a bonus linked to staff holdings in its discretionary free share scheme (DFSS).The bonus is ...
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Rok reports £90m defined benefit pension deficit
Rok has revealed a £90 million deficit in its defined benefit (DB) pension schemes.The firm, which carries out maintenance and building repairs, collapsed in November 2010 with 3,800 employees and debts of £360 million.In a progress report from the period from 8 November 2010 to 7 May 2011, Rok’s administrators, ...
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Government to address regulatory differences in pension schemes
The government will put forward proposals later this year to address short-service refunds, small pension pots and transfers.Regulatory differences of pension funds, including the use of short-service refunds rules have been scrutinised in a call for evidence.Short-service refunds mean that employees who leave their job in less than two years ...
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Globoforce launches employee recognition application for smartphones
Globoforce has launched an HR application for smartphones to enable employers to ensure staff recognition and appreciation keeps pace with behaviour and performance.The application, Globoforce Mobile, allows managers and employees to give, receive, approve and redeem recognition awards anywhere and at anytime.In addition, with Globoforce Mobile, employees who have received ...
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Government plans to reform state pension could lead to national insurance hikes for employers
The government’s proposals to reform the state pension will lead to employers with occupational pension schemes paying higher national insurance contributions (NICs), according to analysis conducted by the Pensions Policy Institute (PPI).The PPI’s report, An Assessment of the Government’s Options for State Pension Reform, released in conjunction with the National ...
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Infoteam introduces voluntary benefits scheme
Infoteam has introduced a voluntary benefits scheme.Working with Personal Group, the electronics repair and remanufacturing firm introduced the scheme in May. It includes discounts on retail shopping and holidays, as well as perks like discounts on magazine subscriptions and breakdown cover.The scheme, which is available to Infoteam's 500 employees across ...
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IDS research: FTSE 100 directors' pension pots reach £2.8 million
FTSE 100 board directors now receive final salary pensions worth on average £2.8 million, according to research by Incomes Data Services (IDS).The Executive Compensation Review found that, when converted into an annual pension, the £2.8 million pot could buy an employee a pension annuity worth more than £170,000 a year.The ...
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Pensions Management Institute appoints new president
The Pensions Management Institute (PMI) has announced the appointment of Susan Andrews as its new president.Andrews will take over from current president, Mike Sullivan, at the PMI’s annual general meeting on 7 July 2001.Andrews was elected to the PMI council in 2001 and became vice president in 2010. She chaired ...
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Eversheds’ staff volunteer on community projects
International law firm Eversheds has participated in its third annual Give and Gain Day.The UK’s national day of employee volunteering, managed by Business in the Community (BITC), saw more than 20,000 volunteers from 527 organisations donating hours worth £2.4 million into community projects.More than 330 employees from across Eversheds’ international ...
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BHSF to launch flexible benefits product
Provider BHSF is to launch a flexible benefits product for employers to offer to their employees.The product, FlexSme, is aimed at small to medium-sized enterprises (SMEs).Brian Hall, marketing director at BHSF, said: “FlexSme will bring together a section of core benefits, BHSF’s own voluntary benefits and eight slots for flexed ...
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Public sector workers strike over pensions reform
Thousands of public sector workers have gone ahead with strike action today (Thursday 30 June) over plans to reform pay and pensions.The reforms include increasing the contributions that public sector employees pay into their pensions.Prime minister David Cameron said public sector pension reform is essential and would secure affordable pensions ...