All Employee Benefits articles in Web Issue – Page 440
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Zenith Provecta employees take part in charity and volunteering programmes
Zenith Provecta employees have taken part in fundraising activities and a local volunteering project.The fleet provider raised more than £1,100 for the automotive industry charity BEN through fundraising activities such as a barbecue, quiz, raffle, and an auction selling unused IT equipment to employees.Ian Hughes, commercial director at Zenith Provecta, ...
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Morgan McKinley research: Dip in starting salaries in financial services
The average salary for employees in the financial services sector securing new roles in July 2011 dipped by 3% compared to salary levels for those starting new roles in July 2010, according to research by Morgan McKinley.The Morgan McKinley Employment Monitor found that the average salary for those securing new ...
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KPMG research: Enhanced transfer value exercises on the increase
Enhanced transfer value (ETV) exercises are increasingly being offered to members of defined benefit (DB) pension schemes, according to research by KPMG. In the past three years, DB scheme members have been offered ETVs to leave their DB schemes, with a further 70,000 expected this year. On average, one in ...
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Jelf Employee Benefits: Most employers are not prepared for auto-enrolment
Most employers (71%) are not yet prepared for auto-enrolling employees into workplace pensions, according to research by Jelf Employee Benefits.The provider suggests that these organisations should consider incorporating their employer brand into their pension and benefits planning ahead of the 2012 pension reforms. The firm reasons that, post-2017 when occupational ...
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Aviva adds to group personal accident, sickness and business travel policy
Aviva has added to its group personal accident, sickness and business travel policy.The 'People and Places' policy is designed to offer employers financial assistance to pay for temporary staff when permanent employees are absent.The additions will cover areas including facial disfigurement, dental and optical expenses, and the risk of suffering ...
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Healix Group employees to cycle 1,550 miles for charity
Employees at Healix Group are completing an 18-day cycling challenge to raise money for the British Heart Foundation.Starting off at Big Ben in London, the employees will cover 1,550 miles, cycling south to Portsmouth, taking an overnight ferry to France, before continuing through the Normandy and Loire regions, following the ...
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XpertHR research: Average pay increases remain at 2%
Average pay increases have remained at the same level recorded a year ago, according to research by XpertHR.The research, based on the details of 99 pay awards settled in the three months to the end of July 2011, showed that the median basic pay increase was 2%.This is lower than ...
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Nice employees finish last when it comes to pay
If you think showing kindness and co-operation with colleagues will be recognised in your pay packet, think again.The study Do nice guys and gals really finish last?, due to appear in the Journal of Personality and Social Psychology, shows that nice male employees are paid 18% less than their nastier ...
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Aviva research: Over one third of employers that offer food to staff do not offer healthy options
Over one third (38%) of employers that offer food to staff do not provide healthy options, according to research by Aviva.The research, Health of the workplace, which surveyed UK employers and employees about issues relating to workplace wellbeing, also found that 43% of employees said their managers encouraged lunch breaks ...
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ITV protects pension scheme from longevity risk
ITV has partnered with Credit Suisse to protect its pension scheme from increasing longevity.Under the contract, the ITV pension scheme will make fixed monthly payments to Credit Suisse. In return, Credit Suisse will make payments to the scheme that broadly match the value of benefits being paid out.The fixed payments ...
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Payroll Giving in Action launches smartphone payroll donation service
Payroll Giving in Action (PGA) has launched a smartphone-friendly payroll donation service called Go Mobile.Owners of smartphone devices, including iPhone, Blackberry and HTC, can access the online giving initiative, which allows employers to create and promote their own payroll giving website to employees.The site can be shared with employees electronically ...
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HSBC and Lloyds Banking Group tackle pension deficits with transfer of hard-to-sell assets
HSBC and Lloyds Banking Group are transferring hard-to-sell assets into their pension schemes in order to help reduce growing fund deficits.HSBC made a payment of £1.76 billion into its pension scheme in December 2010. The sum was made up of illiquid assets ranging from subordinated debt to asset back securities.Lloyds ...
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Headlam Group halves pension scheme deficit
Headlam Group has reduced the deficit of its UK defined benefit (DB) pension scheme from £22.4 million to £11.5 million since March 2008.The reduction follows an enhanced transfer value (ETV) exercise, which offered deferred members of the UK DB pension scheme the opportunity to transfer out on enhanced terms.Since June ...
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Warner Goodman research: Default retirement age legislation tops HR agenda
The removal of the default retirement age is top of the most important issues facing organisations in Hampshire, according to research by Warner Goodman.The study found that 60% of respondents from small to medium-sized enterprises (SMEs) have welcomed the legislation that means employees no longer have to retire at 65, ...
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Vodafone to launch global compensation software programme
Vodafone Group is launching a software programme to manage its fixed and variable compensation for 85,000 employees across 20 countries.The Compensation Cockpit from Excentive International will enable the organisation to manage bonus calculations, long-term incentives, salary reviews and allowances.Bernd Flossbach, head of group reward operations and policies at Vodafone Group, ...
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SuperGroup execs opt out of pay rise and long-term incentives
The three executive directors of FTSE 250 fashion firm SuperGroup have opted out of a pay rise and long-term incentives, claiming that they are incentivised enough by their large shareholding.The organisation’s annual report revealed that the board, led by founder Julian Dunkerton, have frozen their pay and taken themselves out ...
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Employers seek clarification on 2012 pension reforms
Employers preparing for the 2012 pension reforms, including auto-enrolment, are seeking clarification on how to manage employee data and the definition of basic pay.Richard Murray, group pensions manager at First Group, said that he is overwhelmed by the amount of information on the reforms coming from the Department of Work ...
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Coloplast provides free fruit for staff
Medical devices firm Coloplast is providing free fruit to employees in its Peterborough office.The initiative is part of an on-going employee wellbeing programme, and aims to help staff avoid the afternoon lull.Sam Sedwill, HR director at Coloplast, said: “The health and wellbeing of our staff is very important to us."When ...
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Nova Chemicals enters into pension insurance buy-out agreement
Nova Chemicals has entered into a pension insurance buy-out agreement with Pension Insurance Corporation.The buy-out agreement covers liabilities of £30 million and the manufacturer’s 155 pension scheme members.It is the result of a risk management approach taken by the scheme’s trustee, which saw the trustee invest in low-risk assets and ...
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Admiral Group shares £8 million bonus pot with staff
Admiral Group staff will split an £8 million bonus payout from the organisation’s approved share incentive plan (Sip).The employee share scheme will distribute £8 million in shares to 5,700 staff, which works out to £1,500 worth of shares per employee.The payout comes after the firm posted a pre-tax profit of ...