All Employee Benefits articles in Web Issue – Page 521
-
Article
FTSE 350 pension deficits nearly double since end of 2011
Pension scheme deficits among FTSE 350 companies have nearly doubled since the end of 2011 to £90 billion in May 2012, according to research by Towers Watson.Its Defined benefits pension schemes: the impact on FTSE 350 company accounts at 31 December 2011, analyses the financial reports of 192 FTSE 350 ...
-
Article
Code of practice on enhanced transfer values and pension increase exchanges published
An industry working group has published a voluntary code of practice for incentive exercises on enhanced transfer values (ETVs).The code is made up of seven principles, which include:No cash incentives should be offered that are contingent on the member's decision to accept the offer.For transfer exercises, advice should be provided ...
-
Article
Oliver Valvetek hosts barbecue to reward staff
Oliver Valvetek has hosted a barbecue for staff following its success in the 2012 Queen Awards for Enterprise in the international trade category.Founder and chairman Michael Oliver and his family joined employees at the barbecue.The award was handed out thanks to the firm’s growth in international sales between 2007 and ...
-
Article
House of Fraser closes final salary pension scheme to future accrual
House of Fraser has closed its final salary pension scheme to future accrual.The retailer made the move after its pension scheme deficit nearly trebled, from £31.7 million at the end of January 2011 to £85 million at the end of January 2012.The scheme was closed to new members in 2002, ...
-
Article
Insurers not ready for HMRC's real time information initiative
Only 11% of respondents believe insurers will be ready to implement HM Revenue and Customs’ (HMRC) real time information (RTI) initiative on time, according to a survey conducted by Xafinity Paymaster.The Xafinity Paymaster annuity industry survey 2012 also found that 46% of respondents believe the financial services industry will not ...
-
Article
B&CE appoints independent trustees for The People's Pension
B&CE has announced the appointment of the board of trustees for The People’s Pension.It has selected Pan Governance, an independent trustee firm, and its corporate director and chief executive Steve Delo will be appointed as chairman.Alan Pickering, chairman of BESTrustees, will also join as a director of the board of ...
-
Article
FTSE 100 bosses’ total pay up 10%
The median total remuneration of FTSE 100 bosses increased by 10% last year to £3.7m, according to a survey conducted by Manifest, the proxy voting agency, and the remuneration consultancy MM&K.The survey showed that the rise was five times the increase in average earnings across the economy and came at ...
-
Article
Workplace pensions will play a key role in plugging savings gap
Workplace pension provision will play a key role in closing Britain’s chronic savings gap according to research by the Association of British Insurers (ABI).Time to act: Tackling our savings problem and building our future showed that increasing an annual pension contribution from 8% to 12% can increase a pension pot ...
-
Article
Leasedrive Group staff to take part in charity bike ride
Leasedrive Group employees are participating in a 400-mile, four-day, four-country charity bike ride.The Big Four Charity Bike Ride starts at the fleet management group's Wokingham headquarters and travels through France, Belgium and Luxenbourg.Seventeen employees will be cycling to raise money for a variety of charities, including Leonard Cheshire Disability, Macmillan ...
-
Article
OECD report: Increasing retirement ages and expanding private pension coverage is essential
Governments will need to increase retirement ages gradually to address increasing life expectancy in order to ensure that their national pension systems are both affordable and adequate, according to a report by the Organisation for Economic Co-operation and Development (OECD).The Pensions outlook report 2012 said that over the next 50 ...
-
Article
CSR appoints global share plan administrator
Wireless technology manufacturer CSR has appointed Killik Employee Services (KES) to administer its range of global share plans.The plans, which were previously administered in-house, include a range of option and share-based plans for 2,500 employees in 15 countries.Peter Leach, a director at KES, said “It is a big decision for ...
-
Article
High Court ruling will protect the pension benefits of Urenco employees
A ruling from the High Court on 12 June against nuclear fuel company Urenco will protect the pension benefits of 13,000 former employees of British Nuclear Fuels (BNF) and the UK Atomic Energy Authority (UKAEA).The ruling stated that the pension protection provided by the Energy Act 2004 for the former ...
-
Article
Barclays Corporate and Employer Solutions partners Aegon on corporate protection for SMEs
Barclays Corporate and Employer Solutions has partnered with Aegon to supply corporate protection, including shareholder and partnership protection and loan protection risks, to small and medium-sized employers.The arrangement will also offer employers:An individual pricing facility to enable premiums to be among the best in the market (subject to terms).Immediate cover ...
-
Article
Global organisations have less centralised benefits strategy
The more countries in which an organisation operates, the less centralised its benefits strategy is, according to research by ComPsych.Its Global trends report: global workforce needs are universal found that, among employers based in one to five countries, 72% said the benefits strategy was highly centralised.Among employers based in more ...
-
Article
Number of employees working beyond state pension age has doubled since 1993
The number of older workers has nearly doubled over the past 20 years, according to a report by the Office of National Statistics (ONS).The report found there were 1.4 million employees were working beyond the stage pension age in 2011, up significantly from the 753,000 who were doing so in ...
-
Article
The Pensions Regulator publishes guide on delivering good DC outcomes
The Pensions Regulator (TPR) has published a guide to help employers, trustees and providers deliver good outcomes from defined contribution (DC) pension schemes.The guide, Enabling a good member outcome in DC pensions, includes a list of features that represent its current view of the core components of a DC scheme ...
-
Article
T-Mobile reduces sickness absence using company choir
T-Mobile has reduced its sickness absence rates by 50% since it introduced a motivational choir at its contact centre in Merthyr Tydfil, Wales.The Sing and Inspire programme was introduced in April 2011. More than 200 employees take part in the vocal health training and vocal power course, while 100 employees ...
-
Article
Enterprise management incentive (EMI) limit increase to take effect
The enterprise management incentive (EMI) individual limit increase, from £120,000 to £250,000, will take effect on 16 June 2012.The increase, which was announced in the 2012 Budget, will allow qualifying organisations to grant EMI options to employees over shares with a value up to £250,000.Employers that have already granted EMI ...
-
Article
Centre for Policy Studies report puts forward recommendations for pensions industry reform
Public hostility towards the pensions industry contributes to Britain’s lack of a savings culture, according to a report by Michael Johnson, research fellow at the Centre for Policy Studies.The report, Put the saver first: catalysing a savings culture, puts forward 104 recommendations, including 19 primary proposals, for reform of the ...
-
Article
Family Mosaic introduces online HR and payroll system
Social landlord Family Mosaic has introduced an online HR and payroll system.The system includes a self-service function to suit the organisation’s move towards more flexible working opportunities for its staff, including remote, home and mobile working.The system, ResourceLink Aurora from NorthgateArinso, will also provide greater visibility of live employee data, ...