All Employee Benefits articles in Web Issue – Page 464
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Oracle is awarded Pensions Quality Mark
Oracle has been awarded the National Association of Pension Fund's (NAPF) Pensions Quality Mark (PQM) for its new group personal pension.The mypension@oracle scheme, which was installed and communicated by Secondsight in November 2010 through to March 2011 to Oracle's 4,700 UK employees, has been identified as one of the leading ...
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Mercer research: UK employers anticipate below inflation pay rises in 2012
UK employers anticipate pay rises at 3% which is below inflation, according the Mercer’s TRS Quarterly Pulse Survey.The survey also found that organisations in Western Europe predict that their employees will be given pay rises that average 2.7%; the lowest increase across the Europe, Middle East and Africa (EMEA) region.Inflation ...
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ComRes research: City workers believe their colleagues are overpaid
Employees in the financial services sector believe that City bond traders, FTSE 100 chief executives and stock brokers are paid too much, according to a survey conducted to mark the 25th anniversary of the ‘Big Bang’ of financial deregulation.The report Value and values: Perceptions of ethics in the City today, ...
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Aegon UK set to close final salary scheme to future accrual
Aegon UK is planning to close its own employee defined benefit (DB) pension scheme to future accrual on 31 March 2013 and remove the link to final salary for calculating pension entitlement from that date.The changes, which are due to be consulted on with employees and unions, are part of ...
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ABI research: UK employees unsure about employers' sickness absence benefits
The majority of employees (77%) that have been off sick for more than three months have received, or are currently receiving, NHS healthcare, according to research by the Association of British Insurers (ABI).The ABI Quarterly Consumer Survey found that employers have paid, or are currently paying for 9% of respondents ...
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Allen & Overy employees stage opera at Sadler’s Wells
Allen & Overy staff have staged a production of Bizet’s Carmen at Sadler’s Wells in London to an audience of 1,200.The event raised over £15,000 for the British Red Cross and three East London primary schools: Christ Church, Sir John Cass and Stepney Greencoat.More than 100 members of staff and ...
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Animal Health Trust reduces costs with bundled pension and insurance plan
Animal Health Trust will bundle together its pension and life assurance benefits to reduce management costs.Its adviser, Creative Benefits will provide the animal charity with advisory and consultancy services for the bundled scheme, provided by insurance firm Aviva.Animal Health Trust previously closed its defined benefit (DB) pension scheme to future ...
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EXCLUSIVE: Jelf research: Half of employers will offer voluntary benefits because of welfare reforms
Almost half (48%) of employers expect to offer more voluntary benefits as a result of government welfare reforms, according to research by Jelf Employee Benefits.The survey, which was conducted in October among 169 small- to medium-sized enterprises (SMEs), found that the reforms introduced in the Welfare Reform Bill 2011, may ...
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EXCLUSIVE: Toshiba Information Systems rolls out employee discount scheme
Toshiba Information Systems has introduced an employee discount scheme as part of ongoing efforts to improve the benefits on offer to its 250 UK staff.Following an employee survey in April 2011, the consumer electronics firm learned that employees were interested in having access to discounts through the benefits package.The scheme, ...
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B&CE targets lower paid, transient workers with new auto-enrolment pension
B&CE has introduced a pension scheme, 'The People's Pension', that will assist employers with auto-enrolment duties, particularly those with low to moderate earners and transient workers.The People’s Pension is available across all industry sectors and is designed to offer a low-cost, portable pension.It offers:A range of online tools and systems ...
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Fujitsu to implement pension scheme accounting software
Fujitsu and DHL have implemented new pension scheme accounting software.The software, Aviary, is supplied by Profund Solutions, part of JLT’s UK employee benefits business.Katherine Terry, head of pension operations at Fujitsu UK and Ireland, said: “Our incumbent system was not specific to pension fund accounting and we felt there was ...
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Headteachers' union backs strike over public sector pensions
Headteachers have voted for industrial action in response to the government’s plans for public sector pensions.More than three-quarters (76%) of the National Association of Head Teachers (NAHT) that took part in a ballot on 9 November voted in favour of strike action.It is the first time in the union’s 114-year ...
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ABI research: Bulk-insured pension fund assets reach £30 billion
Bulk-insured pension providers have reported that pension funds under management totaled £30 billion at the end of 2010, according to research by the Association of British Insurers (ABI).The pension schemes of over 600,000 members are now covered by these bulk buy-outs.In response to increased interest, the ABI and the National ...
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Lorica launches online portal for auto-enrolment
Lorica Employee Benefits has partnered with Staffcare to launch an online portal to assist employers to auto-enrol staff into workplace pensions from 2012.The portal, called Simplicity3, can be linked to any pension scheme provider. It will manage administration of the entire process, ensuring that each employee is opted in or ...
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Ferrier Pearce launches online rewards portal
Ferrier Pearce has introduced an online rewards portal that enables employees to access and interact with all their benefits, even if they are from different providers.The Works - My Total Rewards Hub allows employees to tailor their benefits through personalised resources and interactive tools.The Works, which is accessible from home ...
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Specsavers research: One-fifth of employers have no eyecare policy
One-fifth (20%) of employers have no eyecare policy in place, according to research by Specsavers Corporate Eyecare.The research, conducted among 223 organisations in both the public and private sectors, found that 42% of employers use the option of reimbursing eyecare costs through expenses, and 33% purchase eyecare vouchers.Additional findings include:77% ...
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Government to consult on introduction of protected conversations between employers and staff
The government will consult on introducing protected conversations that would allow employers to discuss issues such as retirement plans and work performance with employees without fear of being referred to an employment tribunal.The consultation will also address employers’ fears of a tribunal by increasing the qualifying period for unfair dismissal ...
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York Dungeon hands out free deodorant to help staff deal with smelly visitors
Deodorant has become an important health and wellbeing benefit for staff at York Dungeon.Employees were given the antiperspirants to hand out to visitors after actors, performing horror shows at the venue, complained that the smell of fear coming from their audiences was overwhelming.Free deodorant would have been a good perk ...
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TUC research: Institutional investors greatly oppose remuneration reports
Remuneration reports draw the greatest opposition from institutional investors, according to a survey by the Trades Union Congress (TUC).However, the TUC’s ninth annual fund manager fund voting survey found that bank remuneration reports were widely supported.A sharp divide in voting stances was reported, as four out of the 22 fund ...
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Hymans Robertson research: 2011 set to be record year for pension scheme risk transfer deals
This year looks set to be a record year for pension scheme buy-ins, buy-outs and longevity swaps, according to research conducted by Hymans Robertson.The Managing Pension Scheme Risk Report Q3 2011 found that the third quarter of 2011 saw over £2 billion of risk transfer deals completed, comprising buy-ins, buy-outs ...