All Employee Benefits articles in Web Issue – Page 581
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Article
Managers' pay rises below inflation
Private sector pay awards for managers and professionals are forecast to be an average of 2.6% in 2013, while managerial and professional staff in the public sector will see average pay increases of just 0.7%, according to research by Incomes Data Services (IDS).Its Managers’ benchmark pay report, which surveyed 179 ...
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Article
Vestey Group enters pension buy-in
The Vestey Group has entered into a buy-in arrangement for its Western United Group pension scheme, the defined benefit (DB) scheme for its current and former employees.The transaction, with insurer Rothesay Life, involved a £115 million exchange of UK gilts for a bulk annuity insurance policy to secure a portion ...
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Article
Ladbrokes to launch healthy living programme
Ladbrokes is to launch a healthy living programme for its 15,000 employees.The programme enables employees to set personal health goals and access information about healthy living, as well as monitoring health risks, including diabetes, heart diseases and stress.Employees register with the site and then complete a health risk assessment (HRA). ...
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Article
M&S boosts engagement via ideas scheme
EXCLUSIVE: Marks and Spencer (M&S) has seen participation levels in its latest employee suggestion scheme rise after the scheme was extended to 500 staff in its international sourcing offices.Its Big Idea scheme, which is jointly managed by the retailer and its employee representative network, was introduced in 2010 when an ...
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Supplier article
Health Shield survey reveals most three popular health cash plan benefits in UK
Primary market research carried out by Health Shield has revealed that the vast majority (99 per cent) of members agree dental cover is an important part of their healthcare cover, with optical (98 per cent) and physiotherapy (97 per cent) following closely behind.The survey generated nationwide responses from more than ...
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Supplier article
Health Shield launches cash-plan scheme designed to benefit SMEs
Elements and Elements Plus — available from January 2013 — are claimed to provide SMEs with a cost-effective healthcare benefits option, while providing intermediaries with an alternative scheme for companies with three employees or more.The new products will sit alongside Health Shield’s portfolio of company-sponsored and voluntary schemes, which includes ...
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Supplier article
Laing & Buisson report reveals third successful year for Health Shield
The Health Cover UK Market Report has revealed that, despite continuing economic pressures, which resulted in the volume of demand for UK health cash plans falling by 1.5 per cent in 2011, Health Shield has bucked the trend and increased its overall turnover by £3m.Rising from fifth to fourth place, ...
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Supplier article
Health Shield unveils Flexible Benefits products — with or without dental
The new products, which will be launched for all Flex schemes starting from January 2013, will offer a choice between a comprehensive health cash plan or one that removes the dental benefit. This is said to provide clients with the option of dovetailing the health cash plan with a standalone ...
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Article
Aegon UK launches auto-enrolment product
Aegon UK has launched an auto-enrolment product, SmartEnrol, in time to support its first pension schemes that reach their staging dates this month.The product is available to employers with new and existing Aegon group pension schemes. It will allow employers to manage employee categorisation, communication, new entrants and payment.In February ...
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Article
Lockton Benefits UK launches
Global insurance and risk management company Lockton has officially launched its employee benefits business in the UK.Earlier in January, an agreement was made to transfer the Hymans Robertson risk-broking team to Lockton Benefits UK, under which a small number of Hymans Robertson staff will be Tupe (transfer of undertakings (protection ...
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Article
L&G launches mastertrust forum
Legal and General (L&G) Workplace Savings has launched the Mastertrust Employer Group (MEG), a forum for trust-based pension schemes that use mastertrusts.It held its inaugural meeting on 10 January, which was attended by mastertrust members, including Arcadia Group, Debenhams, Ladbrokes, Marks and Spencer, and Mothercare.The principle aims of the MEG ...
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Article
East Midlands police roll out EAP
EXCLUSIVE: Police authorities in the East Midlands have launched an employee assistance programme (EAP) through a framework agreement.The EAP, which went live on 1 January 2013, is available to staff at Derbyshire Constabulary, Leicestershire Police Authority, Lincolnshire Police, Northamptonshire Police and Nottinghamshire Police through the agreement.It is administered by East ...
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Article
Financial services staff expect pay to remain the same
More than half (57%) of respondents said they expect base salaries for permanent staff to stay the same in 2013, according to research by professional services recruiter Morgan McKinley Financial Services.Its annual Morgan McKinley London employment monitor, which surveyed 500 financial services employees, also found that 67% of respondents expect ...
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Article
Pensions Regulator and FSA will not merge
Pensions minister Steve Webb has ruled out merging the roles of The Pensions Regulator (TPR) and the Financial Services Authority (FSA).Addressing the Department for Work and Pensions (DWP) select committee on 23 January, Webb said: “At a time of massive turmoil, the last thing we want is another regulator shake-up.“There ...
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Article
JLT appoints Margaret Snowdon
JLT Employee Benefits has appointed Margaret Snowdon as an executive in its trustee solutions business.Snowdon will join the organisation at the end of January with responsibility for the administration proposition, client management for larger employers, and supporting some of JLT Pensions Capital Strategies’ de-risking activities, as well as the organisation’s ...
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Article
Online flex popular in legal sector
More than half (54%) of law firms in the Legal 100 provide staff with online flexible benefits, according to research by HR in Law and Portus Consulting.The HR in Law Flexible benefits survey 2013, found that respondents value total reward statements (TRS) more than any other part of a flexible ...
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Article
Cookson Group agrees second pensions buy in
Cookson Group, which de-merged its performance materials division in December 2012 to form Vesuvius, has signed a second bulk-annuity policy for its defined benefit (DB) pension scheme.Employees who retire in each of the next three years will have their pensions agreed on insured terms with provider Pension Insurance Corporation.The first ...
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Article
Job satisfaction up despite pay cuts
Employees remain motivated and satisfied at work despite changes to pay and benefits resulting from the economic downturn, according to research by the Department for Business, Innovation and Skills (BIS).Its 2011 Workplace employment relations study (WERS), which interviewed almost 2,700 managers and 21,000 employees between March 2011 and June 2012, ...
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Article
Slippery slope to success
Staff motivation is an important issue for employers that want to get the best out of their employees, but all-inclusive holiday firm First Choice should have no trouble finding a successful candidate for its slide-tester role.The six-month summer position calls for the tester to travel to the organisation’s SplashWorld resorts ...
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Article
DOD’s blog: this week in benefits
I have had a couple of interesting conversations this week about whether flexible benefits still exists any more (well, one has to find something interesting to chat about when the main item on the agenda is risk insurances - at least both events also had wine!).Given that so many employers ...