All Employee Benefits articles in Web Issue – Page 439
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Auto-enrolment staging dates for smaller employers in multiple pension schemes set to be pushed back
The government has proposed that smaller employers should be given more time to prepare for the 2012 pension reforms.New guidance released by The Pensions Regulator (TPR), Getting ready: first steps to prepare for new employer duties, proposed that smaller employers which share pay-as-you-earn (PAYE) schemes with larger businesses should have ...
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Sharesave schemes rise in popularity
The number of employees investing in sharesave schemes rose by 5% last year to 1.4 million, according to research by IFS Proshare.The survey of 445 UK organisations, including 79 of the FTSE 100, also revealed that 44% of eligible employees are participating in at least one sharesave scheme, an increase ...
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Grass Roots Group and Cyclescheme staff to cycle for charity
Grass Roots Group and Cyclescheme employees will be raising money for the Willow Foundation by doing a 100-mile bike ride.Setting off from Cyclescheme’s head office in Bath on 19 August, the employees will finish the charity bike ride at Grass Roots Group head office in Tring, Hertfordshire.Daniel Gillborn, head of ...
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Baring Asset Management research: 38% of British adults do not have a pension
More than one-third (13.6 million) of British adults do not have a pension, according to research by international firm Baring Asset Management (Barings).The research, conducted online by ICM research on behalf of the firm, surveyed 1,589 working UK adults.It found that 1.4 million aged 55 and older do not have ...
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Commuters in Beijing urged to get into punch-ups on their way to work
When on a packed commuter train, many of us will be familiar with the feeling of wanting to punch something or someone while navigating ill-placed bags, perilous cafe lattes and frayed tempers.However, in Beijing, stressed-out commuters are being urged to work off their frustrations on the way to work.Luckily, their ...
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Towers Watson research: FTSE 350 pension deficit rises £2 billion a day
Pension deficits of FTSE 350 organisations have increased at an average rate of more than £2 billion a day during August, according to research by Towers Watson.The firm calculated that the aggregate deficit in FTSE 350 firms' defined benefit (DB) pension schemes has increased by £21 billion so far this ...
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The impact of the plummeting global markets on pension schemes
Pensions experts have this week been widely lamenting the hit pension schemes have taken as global markets plummet.Figures from the National Association of Pension Funds (NAPF) revealed that more than £120 billion has been wiped from the value of UK pensions in the past month.Research by Towers Watson has found ...
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JLT Pension Capital Strategies research: Fewer firms have high equity exposure in their pension schemes
IAG, BT and BAE Systems are among FTSE 100 firms with the highest equity exposure within their pensions schemes, according to research by JLT Pension Capital Strategies (PCS).Despite finding that FTSE 100 firms with high equity exposure within their pension schemes fell by an average of 26%, The FTSE 100 ...
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Trinity Mirror cuts pension deficit by £43.6 million
Trinity Mirror has reduced its pension fund deficit by £43.6 million, which means it has fallen from £117.5 million to £73.9 million.The reduction, which took place over the first six months of 2011, was published in the newspaper group’s half yearly report.In 2010, which saw Trinity Mirror close a number ...
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Employers advised on how to engage disenfranchised younger workers after the riots
While unemployment and lack of opportunities for young people are cited as some of the societal reasons behind last week’s riots, it has also emerged that younger generations feel disenfranchised in the workplace.Claire McCartney, an adviser at the Chartered Institute of Personnel and Development (CIPD), said that the economic climate ...
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Goddard Perry Consulting acquires KKW Pensions Management
Employee benefits consultancy Goddard Perry Consulting (GPC) has acquired KKW Pensions Management.The acquisition follows GPC’s acquisition of HS Administrative Services from Aegon in 2010.Steve Goddard, managing director of GPC, said: “KKW is a valuable addition to our group and brings additional resources and weight to our proposition, especially in the ...
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RSA appoints new group reward and pensions director
Global insurer RSA has appointed Leigh Harrison as group reward and pensions director.Harrison begins her new role in October, and replaces Tim Rolfe who has moved to Prudential.Harrison joins RSA from Sainsbury’s, where she was head of executive and corporate reward.In her new role, Harrison will manage the Board Remuneration ...
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Hymans Robertson research: Buoyant return for pension scheme risk transfer market
The pension scheme risk transfer market has seen its busiest quarter since the credit crisis of 2008, with £1.4 billion deals completed, according to research by Hymans Robertson.The Managing pension scheme risk report Q2 2011 revealed that the second quarter of 2011 saw five providers each completing in excess of ...
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Barnett Waddingham research: FTSE 350 pension scheme deficits were down in 2010
The aggregate pension scheme deficit for FTSE 350 organisations was £48.3 billion in 2010, down from £58.1 billion the previous year, according to research by Barnett Waddingham.The research, Impact of pensions schemes on UK business, which collected data from the 221 FTSE 350 organisations, that have a defined benefit (DB) ...
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DWP launches consultation on contracting-out regulations
The Department for Work and Pensions (DWP) has launched a consultation on the proposed changes to contracting-out regulations.Pension scheme trustees, their advisers, employers that sponsor contracted-out occupational pension schemes, and the general public have been asked to submit their views on the proposals, which are:To increase the amount of the ...
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Marshall Aerospace sees rise in bikes-for-work scheme take-up
Marshall Aerospace has seen the highest take-up of its bikes-for-work scheme since it was launched two years ago.Take-up rose by 63 employees in June, bringing the number of staff using the scheme to 275, around 17% of the aircraft manufacturer’s 1,600-strong workforce.The scheme, provided by Halfords, enables employees to pay ...
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iGlobalFitness re-brands and launches new health and wellbeing workshops
Personal wellness training firm iGlobalFitness has re-branded as iGlobalWellness, and has launched workplace health and wellbeing workshops.The Wellness for Life workshop educates employees about behaviours necessary to lead healthier lifestyles, focusing on four key areas of physical, nutritional, emotional, and spiritual wellbeing.Paul Tomlin, chief executive officer of iGlobalWellness, said: “Wellness ...
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Hargreaves Lansdown launches smartphone app for corporate wrap platform
Hargreaves Lansdown has launched a smartphone app to assist employees using its corporate wrap product in managing their savings and investments.The free iPhone and Android application allows employees to view their individual savings account (Isa) and self-invested personal pension (Sipp), as well as trade funds, shares and investment trusts, exchange ...
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Leeds Metropolitan University saves £75,000 a year by tackling workplace stress
Leeds Metropolitan University has saved £75,000 a year by implementing a scheme to tackle workplace stress. John Hamilton, head of safety, health and wellbeing at the university, put the scheme in place over two years ago in reaction to bullying and harassment issues that had surfaced.The scheme is based around ...
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EEF research: Manufacturing pay settlements remain steady
Pay settlements in the manufacturing sector remain at normal levels, according to research by EEF and Jam Recruitment.The data for the three months to the end of July revealed that the average pay settlement for the period was 2.7%, up from 2.5% for the three months to the end of ...