All Employee Benefits articles in Web Issue – Page 472
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OECD report: Gap between high and low earners continues to grow
The gap between the highest and lowest paid has reached its highest level in over 30 years, according to a report by the Organisation for Economic Co-operation and Development (OECD).The report, Divided we stand: why inequality keeps rising, found that the average income of the richest 10% is now about ...
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Siemens adds cancer checks to flexible benefits scheme
Siemens has added breast exams and skin checks to its flexible benefits scheme, My Choice, for 2012, as part of a wider approach to health and wellbeing.Isy Raza, My Choice specialist at Siemens, said: “As a company, we are aware of the rising incidence of breast and skin cancer, and ...
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North East Ambulance Service reduces absence with physiotherapy scheme
North East Ambulance Service (NEAS) has reduced its long-term sickness absence since it rolled out a physiotherapy scheme for staff.Because musculoskeletal disorders are an occupational hazard for ambulance staff, NEAS investigated the options available to minimise the impact of these injuries.The organisation launched a pilot scheme with physiotherapy provider Physio ...
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Coloplast introduces flexible benefits scheme for staff
Medical devices company Coloplast has introduced a flexible benefits scheme for employees.The scheme aims to give staff a chance to improve their health and wellbeing by offering discounted gym membership, health screening, and dental insurance.The scheme also includes the opportunity to buy or sell holiday, and make changes to certain ...
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NAPF research: Pension funds could be more engaged in companies they invest in
A third (31%) of pension funds think they could be more actively engaged in the companies they invest in, according to research by the National Association of Pension Funds (NAPF).More than half (55%) of respondents to the NAPF’s annual Engagement survey, said they have signed up to the stewardship code, ...
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Morgan McKinley research: Expectations still high in the City for bonuses
Two-thirds (67%) of employees in the financial services sector still expect to receive a bonus in the 2011/12 round compared to 88% last year, according to research by Morgan McKinley.The Bonus expectations survey found that 14% think their bonus will be higher than last year, while 32% expect it to ...
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Government opens consultation on bank bonuses
The government has introduced a consultation aimed at tackling unacceptable bank bonuses by improving pay transparency within large banks.The proposals would extend transparency arrangements at the largest UK banks and the UK banking operations of large foreign banks by requiring the eight highest-paid non-board executives to disclose their remuneration arrangements.Mark ...
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Department of Health announces pension contribution freeze for lower-paid NHS staff
The Department of Health has announced a freeze on pension contributions for more than half a million lower-paid NHS staff.The deal, which affects 630,000 employees, will see the threshold for freezing pension contributions raised from £15,000 to £26,557 for 2012/13.The increases in employee contributions have been distributed among higher earners ...
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ONS research: Managers and senior staff not paid for overtime
Full-time managers and senior staff work 7.6 hours per week more than they are paid, according to figures from the Office for National Statistics (ONS).By comparing data from the Annual survey of hours and earnings, which looks at paid hours, and the Labour force survey, which collects data on total ...
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Supreme Court dismisses dispute over holiday entitlement
The Supreme Court has dismissed an employment case from a group of Transocean employees who argued that their entitlement for annual leave should be taken from their time spent offshore rather than onshore.The oil and gas rig workers are contracted to work a pattern of two weeks offshore and two ...
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Defined benefit pension scheme de-risking company to launch
Former chairman of The Pensions Regulator David Norgrove is to launch an insurance company called Long Acre Life, which will deliver de-risking solutions to UK defined benefit (DB) pension schemes.The firm is targeting schemes with liabilities in excess of £500 million, with the aim of delivering cost savings of up ...
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Government plans to end national pay rates for civil servants, teachers and prison officers
National pay rates for teachers, civil servants and prison officers could be scrapped under plans announced by the government.Chancellor George Osborne has written to independent pay review bodies asking them to recommend how public sector salaries can be brought in line with the private sector.According to HM Treasury, public and ...
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Electricity Supply appoints pension administration provider
Electricity Supply has appointed Capita Hartshead to provide central administration services for its pension scheme.From 9 January 2012, the pension provider will take over the functions currently provided by Electricity Pensions Services. It will be responsible for overseeing all the central activities required to run the the pension scheme, including ...
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Glassdoor research: US employees prefer cash bonuses to Christmas parties
Employees in the United States would prefer to receive cash bonuses rather than a work Christmas party, according to research by job-listing firm Glassdoor.An online survey revealed that 72% of US employees cited a cash bonus among their top choices for an employer-funded seasonal perk, followed by a pay rise ...
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The Retail Data Partnership to launch pension scheme in preparation for auto-enrolment
The Retail Data Partnership will introduce a pension scheme from 1 January in preparation for auto-enrolment.The scheme will be provided by Now Pensions.Stephen Burnett, chief executive officer at The Retail Data Partnership, said: “While we are a small organisation with just 19 employees, I firmly believe that it is important ...
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Fashion houses warned about unpaid interns
HM Revenue and Customs (HMRC) has written to a number of fashion houses and designer labels warning them about non-payment of the national minimum wage to interns.The letters were sent to fashion houses that exhibited at London Fashion Week in September 2011 and are expected to do so again at ...
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HR staff are most likely to snog a colleague at a work Christmas party
HR staff are most likely to snog a colleague at the work Christmas party according to research by TGI Fridays.The poll of 2,000 employees showed that 55% of HR employees have kissed a colleague at a work party, although this is somewhat reserved when compared to the drunken antics of ...
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CBI/Towers Watson research: EU pension regulations would increase costs for UK employers
A proposed European Union (EU) regulation will increase costs for UK employers managing defined benefit (DB) pension schemes, according to research by the Confederation of British Industry (CBI) and Towers Watson. A view from the top – the CBI/Towers Watson pensions survey 2011 found that two-thirds (69%) of employers are ...
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Mercer research: Employer pension scheme contributions frozen at 7.2%
Employer pension scheme contributions have been frozen at an average of 7.2% since 2009, according to research by Mercer.The research analysed the defined contribution (DC) pension scheme offerings of more than 300 UK organisations, representing some 1.3 million employees and £14.3 billion in assets.It also found that pension scheme member ...
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Government publishes draft legislation on changes affecting transfers into Qrops
The government has published draft secondary legislation for consultation on changes to the system for transfers of pension savings into qualifying recognised overseas pension schemes (Qrops) together with a draft explanatory memorandum.The draft legislation, which is among the clauses and tax updates in the government’s draft Finance Bill 2012 published ...