All Employee Benefits articles in Web Issue – Page 479
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Article
Michelin UK appoints pensions consultancy
The trustees of Michelin UK’s pension and life assurance plan have appointed a defined contribution (DC) consultant.†Hymans Robertson will advise the trustees on investment and wider DC issues, and will refresh the communications strategy for the organisation's DC and defined benefit (DB) pension schemes.Chris Wood, chairman of the trustees for ...
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Toshiba and Verizon among employers awarded the Pension Quality Mark
Five organisations have been awarded the Pension Quality Mark (PQM) since the start of 2012.The firms are Cambridge Silicon Group, independent bank C. Hoare and Co, Toshiba, manufacturer Urenco and Verizon.Awarded by the National Association of Pension Funds (NAPF), the PQM recognises defined contribution (DC) pension schemes with minimum employee ...
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Article
A third of employees will go to work ill due to economy
A third (30%) of employees are more likely to go into work ill due to the economic downturn, according to a survey by Nuffield Health.The Wellbeing at work survey, which polled 1,600 UK workers, also found that the group most likely to go into work ill is those earning below ...
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Promoting wellbeing at work through regulation is counterproductive
Efforts to promote wellbeing at work through regulation are likely to be counterproductive, according to research by the Institute of Economic Affairs.According to the report, … And the pursuit of happiness: wellbeing and the role of government, more regulation would see more jobs lost. It also found a strong link ...
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Pay growth down in private and public sectors
Total pay, including bonuses, was down 0.2% on the three months to October 2011, with both the private and public sectors showing lower pay growth, according to figures by the Office for National Statistics (ONS).The Labour market statistics: January 2012 found that regular pay, excluding bonuses, rose by 1.9% on ...
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Increase in Midlands councils’ managers' remuneration
The number of middle management staff at Midlands-based councils that earn over £50,000, excluding pension contributions, has increased by 12% year on year, according to research by Taxpayers Alliance.The Midlands councils’ spending uncovered report found that the number of middle and senior managers earning this remuneration package increased by 759 ...
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Article
Workplace pensions exempt from compulsory unisex insurance pricing
Occupational pensions will be exempt from a European directive which is set to make it compulsory for insurers to adopt the same prices for men and women.In March 2011, the European Court of Justice ruled that gender-based pricing of insurance products was incompatible with human rights.However, in a communication document ...
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Two-thirds of respondents expect pay to rise
Nearly two-thirds of accounting, business support and financial services employee respondents expect pay to rise in 2012, according to two salary surveys conducted by Morgan McKinley.The Accounting, finance and support UK 2012 survey was conducted in November 2011 among 350 HR and operational managers working with accountancy, finance and business ...
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Article
Paradigm Group to launch corporate wrap business
Paradigm Group is to launch a standalone corporate wrap business.The independently-run business will join the consultancy group’s other businesses: Paradigm Partners, Paradigm Pensions and Paradigm Mortgages.Its corporate wrap product will include a group personal pension (GPP) plan, alongside a workplace independent savings account (Isa) and other savings vehicles.The product can ...
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Article
PizzaExpress enters motivation and incentives market
PizzaExpress has entered the corporate incentives market with the creation of PizzaExpress for Business.The reward and motivation division will supply gift cards and electronic rewards to employers across the UK and Ireland for use in employee reward and benefits schemes.The £10 and £15 gift cards will be pre-loaded with the ...
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Article
British Medical Association urges government to reconsider pension plans
The British Medical Association (BMA) has called on the government to urgently reconsider proposed changes to the NHS pension scheme.The decision was taken at a meeting on 18 January following the results of a UK-wide survey, which found that medical staff are greatly opposed to the proposal.The BMA pensions survey ...
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Pensions Regulator to issue statement on recovery plans for defined benefit pensions
The Pensions Regulator will issue a statement in April to help trustees dealing with the valuation and recovery of defined benefit (DB) pension schemes.Stephen Soper, executive director for DB regulation at TPR, has announced it will also publish an annual statement setting out its stance.TPR will consult with the industry ...
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Article
House of Fraser for Business launches e-gift card
House of Fraser for Business has introduced an e-gift card, which can be used by employers in motivation and incentive schemes.The e-gift card can be sent in PDF format via email so it can be printed and used in any House of Fraser store nationwide. The cards can be loaded ...
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Article
Mercer appoints Paul Macro as head of defined contribution
Mercer has appointed Paul Macro head of defined contribution (DC) in its UK retirement business.Macro will be responsible for managing Mercer’s UK DC consulting team.He joins from Towers Watson, where he was senior consultant and a member of the DC management team. He also worked on formulating the consultancy’s response ...
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Health Matters 360 introduces Olympic-themed wellbeing programmes
Health Matters 360 is introducing workplace health and wellbeing programmes aligned to the Olympic and Paralympic Games.The health and wellbeing provider will work with previous Olympics’ athletes to design corporate programmes to help employees achieve physical and emotional wellbeing.The programmes can be tailored to each organisation’s specific needs.Anna Hemmings, the ...
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Friends Life to launch online auto-enrolment product
Friends Life is to launch an online product that will help employers meet their duties under auto-enrolment, which comes into effect from October 2012.The online portal, which is designed to work with the provider's existing platforms, will collect information from employers' payroll and HR systems, and assess it against the ...
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Pensions and life cover some of modern Britain's greatest conundrums
Pensions and life cover are among the 50 greatest conundrums of modern Britain, alongside Stephen Hawking’s theories and Jedward.The 2,000 respondents to research conducted by Puzzler World 2012 were baffled by the difference between life insurance and life assurance, which was the eighth conundrum on the list above the theory ...
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Morgan Sindall Group to introduce new pension scheme for auto-enrolment
The Morgan Sindall Group is to introduce a new pension scheme in order to comply with the forthcoming pension reforms.The scheme, which is provided by B&CE, is designed to cater for the UK construction and regeneration group’s 2,200 operatives, who are paid on a weekly basis, once auto-enrolment commences for ...
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Goddard Perry Consulting launches master trust as auto-enrolment option
Goddard Perry Consulting (GPC) has introduced a master trust to help employers comply with auto-enrolment.The Pensions Master Trust (TPMT) will be priced at an annual management charge of 0.5% with no other regular administrative fees or set-up costs. It offers a wide range of investment funds and allows members to ...
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Article
Wages fell 4.2% in last year
Real wages have fallen 4.2% (equivalent to around £650) over the last year, according to research by independent think tank the Resolution Foundation.Its annual research, Squeezed Britain, found that even if income growth returns to the strong levels seen in the late 19902 and early 2000s, it will take until ...