All Employee Benefits articles in Web Issue – Page 506
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Article
Most respondents feel unsupported by their employer
Nine out of 10 (90%) employees who have recently struggled with personal problems did not receive support in dealing with them from their employer, according to research by Canada Life Group Insurance.The research found that 45% of respondents struggled with personal or health problems over the past three years, yet ...
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The Pensions Regulator publishes details of alternative staging dates
The Pensions Regulator (TPR) has published details of the alternative auto-enrolment staging dates available to employers.Employers with staging dates in October and November 2012 can bring the date forward to as early as July 2012. Employers with later staging dates can chose a date from October 2012.An employer’s auto-enrolment staging ...
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Halcyon Software employees to take on Three Peaks Challenge
Halycon Software is sponsoring a team of 10 employees who will attempt the Three Peaks Challenge on 29 June 2012.The annual challenge, a 3,000-metre climb up Ben Nevis in Scotland, Scafell Pike in England and Snowdon in Wales, takes place over just 24 hours.Donnie MacColl, technical services director at Halcyon ...
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Article
Powys County Council appoints provider to AVC pension arrangement
Powys County Council has appointed Prudential to provide an additional voluntary contribution (AVC) pension arrangement to its 7,000 employees.The council has made the appointment to educate its staff about how additional contributions are a cost-effective, tax-efficient way to increase their pension savings. Only a small percentage of the council’s pension ...
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Engine employees enjoy lickable lift
It would seem that Willy Wonka has kidnapped the reward and benefits manager at communications firm Engine, where employees are enjoying a lickable lift.The lift in the firm’s office on Great Portland Street, London is covered in 1,325 McVitie’s Jaffa Cakes.Phillipa Tilley, senior brand manager from McVities’s Jaffa Cakes, told ...
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Jelf Employee Benefits launches online assessment for auto-enrolment
Jelf Employee Benefits has launched an online assessment to help employers better understand how prepared they are for pensions auto-enrolment.It provides an assessment of the key areas, including financial, organisational or administrative issues that employers will need to consider in order to comply with auto-enrolment.A microsite is being launched in ...
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West Midlands Integrated Transport Authority completes £272m pensions buy-in
West Midlands Integrated Transport Authority (WMITA) has completed a £272-million pensions buy-in.The authority, carried out the move with the support of Prudential, Mercer and law firm Squire Saunders.Geik Drever, director of pensions at the West Midlands Pension Fund, said: “This transaction forms an important part of the WMITA fund’s risk ...
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Acas publishes guide on mental illness at work
Advisory, Conciliation and Arbitration Service (Acas) has published its first guide to tackle mental illness in the workplace.Acas has compiled the guide with NHS agency Workways, which specialises in advising on mental ill health at work.The guide shows employers and managers how to:Spot the early signs of mental ill health.Raise ...
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B&Q managers to receive £45,000 each as share scheme matures
B&Q store managers will be able to cash in shares worth £45,000 when a £9 million sharesave scheme matures on 24 April.The 300 managers were given shares in parent company Kingfisher in April 2009 as part of a scheme designed to maintain consistently high store-operating standards.Under the terms of the ...
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Article
Group risk premiums rose by 2.9% in 2011
Group risk premiums rose by 2.9% in 2011, reversing the negative trend of the past two years, according to research by Swiss Re.Its Group risk 2012 report showed premiums increased across all product lines, including death benefits (up by 4.1%), long-term disability (up by 0.1%) and critical illness insurance (up ...
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Article
Friends Life launches auto-enrolment microsite
Friends Life has launched a dedicated auto-enrolment microsite, where employers, employees and advisers can find out more about the pension reforms.The site includes news from the industry, including regulatory updates, an overview of Friends Life’s auto-enrolment product, a terminology jargon-buster, frequently asked questions, and a range of guides and checklists.A ...
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Ellipse employees walk on fire for charity
Ellipse employees walked on fire in Bermondsey Square in London for charity on 11 April.Led by the group risk insurer’s chief executive officer John Ritchie, the employees walked across 20 feet of burning coals at a temperature of 1,236 degrees fahrenheit, to raise money for charity Winston’s Wish, which provides ...
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Hundreds of Qrops delisted following legislation change
HM Revenue and Customs (HMRC) has taken hundreds of qualified recognised overseas pension schemes (Qrops) off its register following the enforcement of new legislation this month.HMRC’s most recent register, published on 12 April, showed that around 310 schemes, which had appeared on the previous register, had been dropped. Jurisdictions affected ...
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EXCLUSIVE: Just-Eat sees 60% take-up for voluntary benefits scheme
Just-Eat has achieved 60% take-up of its new voluntary benefits scheme, since it was launched on 30 March.The scheme, Just-Treats, includes employee discounts, a health cash plan and a bikes-for-work scheme.The scheme was communicated, in conjunction with provider Asperity Employee Benefits, using a teaser campaign, with cryptic hints dropped in ...
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East Midlands Trains to reduce employees’ DB pension contributions
East Midland Trains will reduce its employees’ pension contributions, after an independent pension valuation.FromJuly 2012, employees will be paying less into their final salary pension scheme.However, members of the Associated Society of Locomotive Engineers and Firemen (Aslef) voted to take strike action on 1, 3, 8, 10, 15 and 17 ...
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UK employees may need to work at least 11 more years for adequate retirement
Almost half (45%) of employees over the age of 50 may need to work and save for 11 or more years to achieve their target replacement rate of retirement income, according to a study by the Pensions Policy Institute.However, the report, Extending working lives, also found that if employees aged ...
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BAA pension scheme goes from surplus to deficit
The BAA Airports defined benefit (DB) pension scheme has moved from a surplus of £38.7 million at 31 December 2011 to a deficit of £103.3 million at 31 March 2012.The airport operator, which includes Aberdeen, Glasgow, Heathrow, Stansted and Southampton airports, reported the funding change in its first quarter results.It ...
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Supreme Court case ruling could allow employers to set own retirement age
The Supreme Court has rejected an appeal made by an employee at law firm Clarkson Wright and James who was told he had to retire at 65.The judges upheld the previous decision taken by the Court of Appeal that the business reasons behind the employer’s decision to retire Leslie Seldon ...
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The Legitas Group pilots Nest for temporary staff
The Legitas Group is piloting the national employment savings trust (Nest) with a group of temporary staff in response to the incoming pension reforms.The professional services provider to temporary employees began piloting the scheme in February, a full year ahead of its staging date in February 2013.The group has also ...
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Employees want to snooze on the job
News that nearly half of office workers would willingly swap their lunch break for an afternoon nap may encourage employers to offer sleep-inducing perks, such as bean bags or pillows, in the workplace.Of the 1,000 employees surveyed by website Dealjungle.com, 46% believed that a nap at lunchtime would improve their ...