All Employee Benefits articles in Web Issue – Page 513
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Babcock International to pay £93m into DB schemes
Babcock International will pay total cash contributions of £93 million into its defined benefit (DB) pension schemes in 2012/13.In its full year results for the year ended 31 March 2012, published on 15 May, the engineering firm said that £56 million of the total is in respect of the cost ...
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EXCLUSIVE: AYMTM introduces summer boot camp and relaunches bikes-for-work scheme
Motivation firm AYMTM has introduced a summer boot camp, a monthly social gathering, and re-launched its bikes-for-work scheme to reinforce its health and wellbeing commitment to staff.The bikes-for-work scheme, provided by P&MM Employee Benefits, has been in place for four years. The re-launch incorporates the option for staff to participate ...
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CIPD conference: University of Cambridge to add benefits to encourage staff to work longer
The University of Cambridge is to look into adding new benefits to help its employees prepare to work longer.The additional benefits could include a voluntary benefits scheme, with products geared towards welfare, such as disability benefits, dental insurance and life insurance.The university will also consider introducing contributions towards long-term care, ...
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CIPD conference: G4S structures pay policy from the top down
Executive employees at security services firm G4S have proposed a pay freeze for themselves during 2012.This is the second time they have done so, following a previous freeze in 2009, demonstrating the organisation’s top-down approach to pay policy, said Matthew Davies, group compensation and benefits manager at G4S.Speaking at the ...
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SMEs support tax breaks for health benefits
Many small and medium-sized enterprises (SMEs) support tax breaks for health benefits, such as therapies and gym membership, according to research by the Institution of Occupational Safety and Health (IOSH).The report, Safety in numbers, was commissioned by the polling and research consultancy ComRes to investigate employer needs and attitudes to ...
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Globoforce introduces recognition and performance tool
Employee recognition provider Globoforce has introduced a tool that links employee recognition and performance.The tool, Talent Maps, aims to help HR and business leaders keep track of their top performers by allowing them to use peer-to-peer recognition data to visually map out employee and team performance.The data can then be ...
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Mercer appoints Daniel Hibbert to develop public sector pay and reward practice
Mercer has appointed Daniel Hibbert to develop the company’s pay and reward consulting services in the UK’s public sector.Hibbert has more than 15 years of experience in advising organisations on aspects of reward management, including employee relations, performance-related pay, incentive scheme design, job evaluation, equal pay reviews and pay-cost modelling.Prior ...
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iGlobalWellness launches health and wellness programme for over-55s
Wellness services provider iGlobalWellness has launched a health and wellness programme for employees aged over 55.The programme, Age Busters, will focus on fitness, staying active and living a healthier lifestyle. The programme offers personalised activity and nutrition coaching, an advanced monitoring system, regular interactive support and motivational goal setting.David Moorcroft, ...
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Female Network Rail staff to launch claim for back-pay
Thirty-four female middle managers at Network Rail are to confront the firm with an equal pay claim.The claim, which is due to be filed before the end of May, will ask for back-pay of £25,000 for each claimant.The rail union, the Transport Salaried Staffs’ Association (TSSA), have backed the claim. ...
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Education secretary backs reform of teachers' pay
Education secretary Michael Gove has submitted evidence to the School Teachers' Review Body (STRB), which sets out a strong case for reform to the current system of teachers' pay.Gove has set out a number of possible options for reform, including:Varying levels of prescription in national pay arrangements.Setting a minimum and/or ...
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FTSE 350 pension deficits up by £30bn in May
The collective pension deficits of the UK’s FTSE 350 organisations have increased by £30 billion since the beginning of May, according to research by Towers Watson.The report found that the total deficits are estimated to have gone from £62 billion at the end of April to £92 billion by 16 ...
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Civil service pension scheme appoints provider
The government's mutual joint-venture arrangement, My Civil Service Pension (MyCSP), has appointed Prudential to provide a defined benefit (DB) pension scheme for its 500 UK-based staff.MyCSP was launched in April 2012 as the first cross-government shared service.Martyn Bogira, head of corporate pensions at Prudential, said: “We are thrilled to have ...
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Lloyds Banking Group and Eversheds among employers volunteering in Give and Gain Day
Lloyds Banking Group, Eversheds and Arqiva are among 191 organisations taking part in Give and Gain Day on 18 May.More than 9,000 employees across the UK are taking part in the annual event, volunteering their working hours to community groups and local charities.Give and Gain Day, which aims to connect ...
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Royal Mail Group appoints EFP to manage 39 onsite gyms
Royal Mail Group has appointed Energy Fitness Professionals (EFP) to manage all 39 of its onsite gyms.The corporate health provider has managed 18 of Royal Mail Group’s gyms since 2003. The enhanced contract includes 12 gyms that were previously managed by other suppliers.Rob Radford, director at EFP, said: “We are ...
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Banking executives learn how to tackle challenges of the corporate jungle in luxury spa
It is hard to imagine that the serene and peaceful environment of a luxury spa would provide the setting to teach a group of hard-nosed executives how to be more effective in the corporate jungle of high finance.This was the tactic of Lloyds Banking Group, which sent a group of ...
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Half of employers have confirmed providers for auto-enrolment
More than half (54%) of the UK’s largest employers have confirmed their providers for auto-enrolment, according to research by the Nest Corporation.The research, which surveyed 707 pension decision makers at UK organisations, found that a further 34% of respondents have an idea of the provision they will implement and only ...
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Executives prefer less risk-averse pay packages
Most executives would prefer less risk-averse pay packages, rather than deferred bonuses and complex incentive schemes, according to a report by PriceWaterhouseCoopers (PWC) and the London School of Economics (LSE).The Psychology of incentives report, which surveyed 1,100 executives, found that most respondents would prefer a smaller but more certain reward ...
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Report on employment law to be published
A report on employment law, known as the Beecroft report, will be published this week.The report, written by venture capitalist Adrian Beecroft and commissioned by prime minister David Cameron’s former chief policy adviser Steve Hilton, is likely to include the following proposals: Delaying the pension reforms, which would force employers ...
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Less than half of respondents are saving enough for retirement
Only 46% of UK employees are saving enough for retirement, down five percentage points since 2011 and a fall of eight percentage points since 2009, according to research by Scottish Widows.The Scottish Widows Pension report 2012 surveyed 5,200 UK employees. It has been published annually since 2005.The report found that ...
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Avanti Travel Insurance staff bungee jump for charity
Avanti Travel Insurance employees bungee jumped for local charity Parc Essex on 7 May.Staff at the travel insurance firm raised £500 for the charity, which creates outdoor adventure playgrounds and indoor resource centres for children with disabilities, by jumping from 100 feet up at The Orange near Braintree in Essex.Avanti ...