All Employee Benefits articles in Web Issue – Page 463
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Analysis
How to run a Europe-wide fleet
If you read nothing else, read this...In the European alignment of a fleet policy, employers should embrace differences, as well as similarities.Fleet standards, tax issues and manufacturer preference differ from country to country across the European Union, so take this into consideration.If possible, a single person should be made responsible ...
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Article
NHS organisations to offer total reward statements
A number of NHS organisations will begin providing total reward statements in 2012, as part of efforts to get staff to understand the full value of their benefits package during a time of pay restraints, pensions reforms and a diversifying labour market.The reward statements will outline pensions, pay and the ...
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Article
Now Pensions introduces pension product in preparation for 2012 reforms
Now Pensions has unveiled details of its new auto-enrolment offering in preparation for the 2012 pension reforms.Backed by Danish pension scheme ATP, the multi-employer trust has revealed that its scheme will have a £1.50 per month administration charge, and a 0.3% annual product investment charge.The scheme has one investment strategy, ...
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Article
Scottish Widows research: Gender pay gap affecting women's pension pots
The number of women saving for retirement has risen to 50% in 2011, compared to 43% in 2010, according to research by Scottish Widows.The Scottish Widows women and pensions report 2011, which surveyed 5,200 UK adults, found that, despite this rise in the number of women saving, men are still ...
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Article
The Orchid Group named best pub employer at hospitality awards
The Orchid Group has been named the best group bar/pub employer at the Best Employers in Hospitality Awards 2011 for Scotland.The pub group was also named in the overall list of the 25 best hospitality employers in Scotland, coming 22nd.The Orchid Group operates a range of schemes and initiatives to ...
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Article
Morrisons considers Swedish derogation model to mitigate impact of Agency Workers Regulations
Morrisons has held talks with recruitment agencies on using the Swedish derogation model, which removes the supermarket’s responsibility of offering temporary workers the rights to benefits.†The Agency Workers Regulations, which came into force on 1 October, mean that after 12 weeks of employment, temporary staff are entitled to equal treatment ...
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Article
Government sets out offer on public sector pensions
Chief secretary to the Treasury Danny Alexander has set out details of the government’s offer on public sector pensions. The offer includes:An 8% increase in accrual rate, from the 1/65ths offered in October to 1/60ths.Anyone within ten years of their pension age on 1 April 2012 will be protected, meaning ...
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Article
Secondsight delivers 350 textbooks to Kenyan school
As a direct result of its fundraising campaign at Employee Benefits Live, Secondsight has arranged for the delivery of 350 textbooks to the Showers of Blessings school in Watamu, Kenya.The employee benefits provider agreed to fund one textbook for every enquiry form completed at its stand during Employee Benefits Live ...
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Article
Grid research: Mental health one of most common causes of sickness absence
Stress-related mental health is one of the most common causes of long-term sickness absence, according to research by Group Risk Development (Grid).The research, conducted among 500 employers, found that stress-related mental health was the second most common cause, cited by 15% of respondents, behind home and family issues, cited by ...
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Article
Aon Hewitt research: Almost half of employers have closed DB schemes to accrual
Over 40% of organisations have closed their defined benefit (DB) pension schemes to future accrual or are currently in the process of doing so, according to research by Aon Hewitt.The Pension benefit design survey polled 300 organisations with DB arrangements, predominantly in the private sector.Where organisations are closing to future ...
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Article
Mövenpick Hotels and Resorts rewards staff with trip to Switzerland
Mˆvenpick Hotels and Resorts has flown a group of employees to Switzerland for an all-expenses-paid four-day trip.The international firm rewards high-performing employees from Asia, Africa and the Middle East with a trip every year to recognise their contribution to the business.During the trip, the group of 45 employees visited the ...
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Article
Polestar Group to wind up pension scheme
Polestar Group will wind up its pension scheme following approval from The Pensions Regulator (TPR).TPR concluded that full funding of the scheme over any reasonable period was unlikely and that the scheme should be wound up in the interests of its members and the Pension Protection Fund (PPF).After receiving professional ...
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Article
Pensions Bill receives Royal Assent
The Pensions Bill has received Royal Assent.Starting from October 2012, employers will begin to automatically enrol eligible employees into a qualifying pension scheme and contribute to that pension. Measures in the Pensions Bill include:Organisations will be allowed to defer auto-enrolment for up to three months.The scheme certification process will be ...
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Article
Barclays, Ericsson and Pearson among winners at the Employee Share Ownership awards
Barclays, Ericcson and Pearson were among the winners at the Employee Share Ownership Awards 2011.In the category of organisations with 1,500 employees, Barclays, Ericsson and Pearson were the top winners.Barclays was commended for its Global Sharepurchase scheme, which allows employees to buy shares of up to £1,500 per year in ...
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Article
Nest Corporation issues auto-enrolment guide for employers
Nest Corporation has published a guide to auto-enrolment, designed to inform employers what they need to consider ahead of the upcoming pension reforms.The guide, How Nest can help you meet your duties, provides an overview of the key requirements around auto-enrolment, as well as setting out what the national employment ...
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Article
Christmas party organised for one-man bands
Raucous and fun Christmas parties certainly subscribe to the theory the ‘more the merrier’.After all, it can't be much fun for a one-man start-up sitting alone in a pub with no one to pull a cracker with except the bartender.However, help is at hand for small firms and one-man bands ...
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Article
Southend University Hospital signs up to payback discount benefit
Southend University Hospital has signed up to an employee reward scheme that enables staff to earn reward points.The MyMoney scheme, provided by Corporate Rewards, enables the NHS trust’s employees to earn points through, for example, shopping as normal in their high street or online, that can be redeemed for rewards.Keith ...
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Article
London School of Economics research: Senior executives' pay clearly linked to corporate performance
Senior executives’ pay is clearly linked to the success of an organisation, according to research by the Centre for Economic Performance and the London School of Economics.The study, Firm Performance and Wages: Evidence from Across the Corporate Hierarchy, found that when an organisation’s performance improves, so does pay, but it ...
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Article
Towers Watson research: FTSE 100 pension deficits grew by £27 billion in one week
The aggregate deficits of FTSE 100 organisations’ pension deficits grew by £27 billion in one week, according to data from Towers Watson.The consultancy estimates that the deficits of the defined benefit (DB) schemes stood at £8 billion at the beginning of last week, but had increased to £35 billion when ...
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Article
Alexander Forbes research: Annuity rates fall across the board
Annuity rates are falling across the board, according to the latest figures from Alexander Forbes Annuity Bureau.This month saw across-the-board falls in male single life annuities as providers again cut their rates. Table topper Aviva reduced its rate by £90 to £5,720 per annum, while second placed Canada Life cut ...