All Employee Benefits articles in Web Issue – Page 610
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Stagecoach drivers to receive cycling training
Stagecoach London has developed a training programme for its bus drivers to help them to emphasise with cyclists and understand how to minimise the risk of sharing the road.The programme, in conjunction with Cycle Training UK, follows the implementation of a bikes-for-work scheme by the employer in 2012. A total ...
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Government criticised for state pension changes
The key to the successful implementation of the single-tier state pension lies in the government informing the public as soon as possible about how it will impact individuals, according to a report by the Work and Pensions Select Committee.In its Single-tier state pension: part 1 of the draft pensions bill, ...
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Is this the best office in the world?
Something for the weekend …A ‘helter-skelter’ slide, a grass-covered amphitheater, a yoga area, a pool table, a putting green, a giant swing and a cinema …Is this the best office in the world?Designers Space and Solutions have transformed a former pub in Southampton into office space for technology organisation Peer ...
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DOD’s blog: Tweak while you work
I am pleased to see that the government is consulting on tweaks to its auto-enrolment legislation.Although many of the proposed changes were foreseen many months ago, that is no reason to delay putting them in place now.There are already fears of a provider crunch by the end of this year, ...
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University of Leicester appoints pension adviser
The University of Leicester Pension and Assurance Scheme has appointed Aon Hewitt to provide a range of actuarial advice and pension administration services.The defined benefit (DB) pension scheme has approximately 2,200 members and assets of around £110 million.John Holloway, chairman of the trustees at the University of Leicester Pension and ...
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Round-up of tax and legislation changes coming in from 6 April
A number of tax and legislation changes that come into effect from 6 April 2013 will have an impact on employee benefits.Real-time information (RTI) reporting begins.From 6 April, employers will have to start reporting pay-as-you-earn (PAYE) information to HM Revenue and Customs (HMRC) in real time. Employers with fewer than ...
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Civil servants strike over pay and pensions
Nearly 250,000 civil service employees who work for HM Revenue and Customs (HMRC), the Valuation Office, the Home Office and the UK Border Agency will take strike action today to protest cuts to their pay, pensions and working conditions.This HMRC and Valuation Office members will also hold a half-day strike ...
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BG Group looks to close legacy DB pension schemes
BG Group has proposed closing its legacy UK defined benefit (DB) pension schemes to future accrual from 1 December 2013.In its Annual report and accounts 2012, the utilities company proposed the closure of its BG Pension Scheme (BGPS) and BG Supplementary Benefits Scheme (BGSBS), subject to the outcome of statutory ...
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Stormfront launches computer scheme
Stormfront, the Apple reseller, has launched a computer scheme for employers to offer staff.The scheme, which is available via a salary sacrifice arrangement, offers access to Apple reseller’s range of products, including Mac computers, iPads and iPods. Stormfront will create a bespoke branded website fo employers.Employees can also access Stormfront’s ...
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East Cheshire NHS Trust outsources HR services
East Cheshire NHS Trust has outsourced its HR shared service centre.The trust has awarded a four-year, single-supplier contract to Arvato UK and Ireland, under which Arvato will acquire and operate the trust’s Cheshire HR Service.It will provide payroll administration, learning and development and HR consulting.The deal will enable Arvato to ...
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Pay by performance still common practice
Pay differentiation, the practice of varying pay awards for employees, is common practice in 93% of UK organisations surveyed, according to research by Towers Watson.The research, which surveyed 124 UK organisations, found that base pay rises were 67% higher, on average, for employees identified as high performing.Respondents with pay budgets ...
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Disability charity selects pension consultancy
The Queen Elizabeth’s Foundation (QEF) for Disabled People has appointed Premier to provide actuarial, consultancy and administration services for its defined benefit (DB) pension scheme.Its DB scheme has 600 members and assets of £24.5 million.Gary Allcott, deputy chief executive and finance director at QEF, said: “Premier was selected for a ...
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Young employees plan to save more for retirement
Young employees are more engaged with pensions than older colleagues and plan to save more, according to research by the National Association of Pension Funds (NAPF).The NAPF workplace pensions survey, which had 2,050 respondents, found that more than half (53%) of those aged 25 to 34 intend to increase the ...
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Barclays C&ES develops investment consulting team
Barclays Corporate and Employer Solutions (C&ES) has made two appointments to develop its new pension investment consulting team.Lydia Fearn (pictured) joins Barclays C&ES from consultancy Lane Clark and Peacock, where she advised employers on their investment strategies for both defined benefit (DB) and defined contribution (DC) pension plans for six ...
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Adams Morey switches payroll providers
Adams Morey has switched payroll software providers following a review prompted by the introduction of real-time information (RTI) reporting.The legislation, which came in to effect on 6 April 2013, requires all employers to report pay-as-you-earn (PAYE) information to HM Revenue and Customs (HMRC) in real time.The truck supply firm, which ...
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Emerging technology aids health strategies
Most organisations have a health engagement strategy in place, however, many do not take advantage of emerging technology to communicate this to employees, according to research by Buck Consultants and WorldatWork.The Emerging technology in health engagement research, which polled 400 multinational organisations, looked at the use and effectiveness of emerging ...
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CIPP launches payroll application
The Chartered Institute of Payroll Professionals (CIPP) has launched a payroll application (app).Its Payroll Factapp, which is available on Apple and Android smartphones, contains payroll information, including tax facts and figures relevant to every pay period.The CIPP Factapp also includes:Tax rates, including the new rates in relation to auto-enrolment.Company cars.National ...
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Defined benefit pension deficits rise by £35 billion
The aggregate deficit of defined benefit (DB) pension schemes increased by £35 billion in one month, according to research by the Pension Protection Fund (PPF).The PPF 7800 index estimated that the aggregate deficit of the 6,316 pension schemes in the PPF 7800, which are potentially liable for entry to the ...
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Metroline appoints fiduciary manager to defined benefit pensions
Metroline has appointed SEI as fiduciary manager to its defined benefit (DB) pension schemes.The fiduciary management and investment services provider will manage the Metroline London Northern Pension Scheme and the Metroline Pension Scheme, which have a total of £51.6 million in assets.Metroline made the appointment so that its trustees could ...
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EU-wide pension rules could add £150bn to UK pension funding targets
Proposals for new Europe-wide rules for calculating pension deficits could add £150 billion to funding targets for UK defined benefit pension schemes, according to analysis by the European Insurance and Occupational Pensions Authority (EIOPA).Its Quantitative impact study on institutions for occupational retirement provision (Iorps): preliminary results for the European Commission, ...