All Employee Benefits articles in Web Issue – Page 580
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Article
Police recruits face pay cut
Police reforms set forth by home secretary Theresa May will see pay for police recruits reduced from £22,000 to £19,000.The reforms are part of the government’s response to the Police Arbitration Tribunal’s findings on the recommendations in Tom Winsor’s Independent review of police officer and staff remuneration and conditions.May submitted ...
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Article
Chaucer hosts wellness week
EXCLUSIVE: Lloyds of London insurer Chaucer has launched a wellness week as part of its employee engagement strategy for 2013.The five-day event, which started on 14 January, is being run for 700 employees across the organisation’s Kent and London offices.Healthy breakfasts are on offer in staff cafeteria as well as ...
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Article
Goldman Sachs will not delay bonuses
Goldman Sachs will pay deferred bonuses to its UK employees before April 2013.The bank had been considering giving staff deferred bonuses from 2009, 2010 and 2011 in the form of shares after April 2013 when the top rate of tax will be lowered from 50% to 45%.Its board met on ...
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Article
Fire Brigade raises money through bikes for work
London Fire Brigade has raised £6,400 for The Fire Fighters Charity through its bikes-for-work scheme.Its provider Cycle Solutions made a donation to the charity based on the number of bikes ordered. Since the scheme was launched in July 2012, 900 bikes have been ordered.The scheme will be re-launched in February ...
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Article
FSA publishes incentive guidance
The Financial Services Authority (FSA) has published final guidance to help financial organisations, such as banks, building societies, insurers and investment firms, avoid mis-selling due to incentive schemes.This includes guidance on managing the risks and governance of incentive schemes, as well as guidance on the features of incentive schemes that ...
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Article
Goldman Sachs’ pay and benefits spend up 6%
Goldman Sachs’ 2012 spend on compensation and benefits for its 32,400 global employees is 6% higher than in 2011.The investment bank’s 2012 Annual and fourth quarter results found that its compensation and benefits expenses, including salaries, discretionary compensation, equity awards and benefits, stood at $12.94 billion (£8.1 billion) in 2012, ...
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Article
Long-service awards fit for a Queen
Long-service awards are nearly always welcomed by employees and are a nice way for employers to show their appreciation for staff loyalty.Most often these gifts come in the form of gift vouchers or perhaps a watch, so there are few employees who would expect a llama waiting for them after ...
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DOD’s blog: my week in benefits
This week has seen a raft of government announcements affecting benefits and pay, as well as guidance from the likes of the Financial Services Authority and Office of Fair Trading.There are more such tomes in the pipeline (oh joy!) affecting everything from pensions, share schemes and incentives to the long-term ...
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Article
BITC relaunches staff volunteering day
Business in the Community (BITC) has launched its 2013 Give and Gain Day, the UK’s national day of employee volunteering.Give and Gain Day will be held on 17 May 2013.So far, more than 60,000 employees across 31 countries have participated in Give and Gain Day, which was first introduced in ...
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Article
Government proposes pay cap for unfair dismissal awards
The government has published its proposals to reduce the number of workplace disputes that end up at employment tribunals.The proposals, which were announced by employment relations minister Jo Swinson, include the introduction of a 12-month pay cap on the compensatory award for unfair dismissal, as well as the establishment of ...
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Article
Barnardo’s proposes to close DB pension
Barnardo’s has announced to staff a proposal to close its defined benefit (DB) pension scheme to future accrual from 31 March 2013.Employees at the children’s charity will be offered access to a defined contribution (DC) pension scheme from April 2013, which will be more generous than the government requirements for ...
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Article
FTSE 250 pension deficits reach £9 billion
The total deficit of FTSE 250 pension schemes as of 30 June 2012 is estimated to be £9 billion, up from £6 billion in 2011, according to research by JLT Pension Capital Strategies.The FTSE 250 and their pension disclosures: a quarterly report found that deficit funding has increased in response ...
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Article
Claybrook launches mobile pensions access
Pensions software provider Claybrook has launched a service that enables employees to access their workplace pension information via a mobile phone or tablet.The service is compatible with mobile platforms including Windows Phone, Apple iOS and Google Android.Staff are able to check fund valuation, manage investments online, calculate their estimated pension ...
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Article
Single-tier pension to benefit women and low earners
Reforms to the state pension will particularly benefit women who take time out to bring up a family and low earners, according to figures published by the Department for Work and Pensions (DWP).Its Impact assessment on the single tier, published 18 January, also showed that more than half of over-25s ...
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Article
WH Smith selects auto-enrolment system
WH Smith has selected an administration system to comply with its auto-enrolment obligations from 1 March 2013.The system automatically identifies and enrols relevant employees into the chosen pension scheme, provides communication and administration processes, and handles refunds if an employee opts out.The system is provided by Ceridian UK, which already ...
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Article
Aon to delay bonuses to avoid top-rate tax
Aon has offered qualifying employee the option to defer their 2012 bonus payments so they can benefit from a cut in the top rate of income tax.Bonus payments were scheduled to be handed out in March, but the insurance broker has offered qualifying employees the option to postpone them until ...
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Supplier article
Product guide — health cash plans to suit all shapes and sizes
For more information about our Health Cash Plans call us on 01270 588 555.LinksHealth cash plans to suit all shapes and sizes
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Supplier article
Health Shield set to launch GP helpline as part of product development drive
The 24/7 helpline will be available across its voluntary and company-sponsored Corporate, Tailored and Flexible Benefits cash-plan schemes.The company is also introducing a paperless system. From January, members can opt to receive information and scheme updates via email.Health Shield already operates a Direct Credit system, which enables the organisation to ...
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Article
The Pensions Trust sets charging structure
The Pensions Trust has announced details of the charging structure for funds offered via its auto-enrolment platform, SmarterPensions, which is set to launch on 4 March 2013.The majority of the fund range will have an annual management charge (AMC) set at 0.45%. SmarterPensions, which will be fiully auto-enrolment compliant, is ...
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Article
Inquiry looks for evidence to get Britain cycling
The All Party Parliamentary Cycling Group (APPCG) will start taking verbal evidence for the Get Britain Cycling inquiry on 23 January.The inquiry aims to look at the barriers that are preventing more people cycling in the UK, where only 2% of journeys are made up of cycling compared to 27% ...