All Employee Benefits articles in Web Issue – Page 438
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Record number of employers offering approved share schemes
A record 12,500 UK organisations operated at least one of the four tax-advantaged government share schemes last year, according to the Employee Share Ownership Centre’s (Esop) annual analysis of statistics from HM Revenue and Customs (HMRC).The report, Employee share schemes statistics for 2009-10, published by HMRC on 30 June, showed ...
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Cookson offers enhanced transfer values to reduce pension scheme liabilities
Cookson will offer deferred members of its UK final salary pension scheme an enhanced transfer value (ETV) as part of efforts to reduce liabilities.The arrangement will see members that choose to participate leave the final salary pensions scheme to join a defined contribution (DC) pension scheme at an enhanced value, ...
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VocaLink research: Take-home pay down £1,200 since 2008
Employees are taking home more than £1,200 less pay compared to three years ago, according to research by VocaLink.The VocaLink Take-home pay index shows that both public and private sector pay outlooks are fragile, while overall take-home pay has fallen by £1,212 since the end of 2008.Income after tax and ...
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The Isle of Man government appoints Xafinity Claybrook for pension administration
The Isle of Man government has appointed Xafinity Claybrook to administer a variety of public sector pension schemes using its Compendia software.The software will be installed to support 15,500 employees in a number of schemes covering public sector workers in the civil service, health service, teachers and police.Ian Murray, pensions ...
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Badenoch and Clark research: Public sector would rather have pay cut than lose pension
Nearly half (45%) of public sector workers said they would rather see their pay cut than their pension, according to research by recruiters Badenoch and Clark.The research, Re-branding the state: the public sector brand in an age of cuts, stikes and reforms, which polled over 1,000 public sector workers, also ...
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Addiction to gadgets causes disruption in the office
Blackberrys, mobile phones, and laptops dished out by employers to help boost productivity may actually result in a disruptive workplace addiction.Signs of a gadget addict include: sending text messages and accessing social networking sites in meetings, and continuing to take calls and listening to messages even after their boss has ...
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IM Group appoints pension scheme actuary
The trustees of UK-based motor vehicle importer and distributor IM Group have appointed Barnett Waddingham to provide an actuarial service to its pension scheme.IM Group, which is currently the UK distributor of Subaru, Daihatsu and Isuzu cars, appointed Barnett Waddingham after a series of shorter-term projects.Gary Hutton, director of administration ...
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Xafinity Pension Trust appoints Bridge Trustees
The Xafinity Pension Trust has appointed Bridge Trustees as its professional trustee.Under the new arrangement Bridge Trustees will independently address all governance aspects on the behalf of participating employers.The appointment follows the publication of The Pensions Regulator’s (TPR) response to enabling good member outcomes from defined contribution (DC) arrangements in ...
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High Pay Commission report: Most FTSE 350 executive directors have formal pension arrangements in place
More than 97% of executive directors in FTSE 350 organisations have formal employer-sponsored pension arrangements in place, yet only one-third of UK private sector employees receive an employer-sponsored pension.The report, Directors’ pensions: in it for themselves?, was compiled by Incomes Data Services for the High Pay Commission using the latest ...
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Airwave Solutions receives Pension Quality Mark Plus
Airwave Solutions has received the Pension Quality Mark (PQM) Plus from the National Association of Pension Funds (NAPF) for its group stakeholder pension scheme.The provider of communications to the emergency services has had the pension scheme in place since 2007, when it was de-merged from the O2 group of organisations.The ...
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Consultation on Modern Workplaces: Concerns raised over plans to introduce gender pay audits
The government’s plan to introduce gender pay audits has raised concerns among business groups.The proposal was outlined in the Consultation of Modern Workplaces, which is due to close today after seeking views on a number of changes to employment law, including flexible working and parental leave.The EEF argued that gender ...
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Adecco research: Employers confused about implications of Agency Workers Regulations
Many employers are confused about the implications of the forthcoming Agency Workers Regulations (AWR), according to research by Adecco.The survey of nearly 500 HR professionals found that respondents were particularly unclear about the impact of temporary workers’ benefits, including holidays and bonus eligibility.Employers are also unclear who is ultimately responsible ...
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Source Pensions launches flexible fund platform
Source Pensions has launched an online fund platform designed to increase flexibility for both employers and employees around workplace defined contribution (DC) schemes.The platform, Root, is designed to allow employers and employees to control their pension scheme, access information and contact their independent financial advisors (IFAs) quickly and easily.Employees have ...
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Employers advised on how to support staff affected by riots
Employers are being advised on how to support staff working in organisations blighted by the London riots, which have now spread to other parts of the UK. Numerous businesses all over the capital, including those based in Tottenham, Hackney, Peckham and Croydon, have suffered from violence and looting. So far, ...
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Nottingham City Council makes savings with holiday purchase via salary sacrifice
Nottingham City Council is expected to save more than £154,000 in its first year of offering a scheme to allow employees to purchase additional holiday via a salary sacrifice arrangement.The scheme, which was introduced in January, and is due to be launched again in September, is provided by P&MM. It ...
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NAPF research: £120 billion wiped off UK pensions value
Stock market volatility has caused more than £120 billion to be wiped from the value of UK pensions in the past month, according to figures from the National Association of Pension Funds (NAPF).The figures take into account the fall in value of defined benefit (DB) and defined contribution (DC) workplace ...
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Employers urged to consider the legalities of managing workers' pay after riots
Employers need to consider the legal implications of making changes to workers’ pay and managing their return to work following the riots to avoid disputes.Law firm Eversheds said that employers will have to pay employees absent from work because of the riots, unless there is a specific clause in an ...
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Alexander Forbes forms partnership with Staffcare
Alexander Forbes has teamed up with Staffcare to use its benefits communication and administration software, as part of a new strategic partnership.The benefits administration software will be used as part of Alexander Forbes’ new benefits offering which is set to be launched over the coming weeks.It will offer a suite ...
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Office Angels research: Office managers see 3.6% salary growth
Officer managers were one of the few roles to record positive annual salary growth last month, up 3.6%.The figures, from the Office Angels salary watch report by Office Angels and Mysalarychecker.com, found the average salary for an office manager in July was £29,448, while receptionists recorded the lowest average salary ...
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Mercer appoints new UK head of human resources
Mercer has appointed Mark Moorton UK head of HR.Moorton joins Mercer from Specsavers, where he has been international HR director since 2009.Previously, he held the position of HR and engagement director at Axa PPP Healthchare for nine years, and HR director at Centaur Communications.Read more articles on careers in the ...