All Employee Benefits articles in Web Issue – Page 636
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Interserve employees see £1,000 increase for share save
Interserve employees are to see an average profit increase of £1,122 for their share save scheme.The support services and construction organisation’s share save scheme, which currently has more than 700 UK employees signed up and is administered by YBS Share Plans, has matured to 489.0p, up from 369.8p on maturity ...
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Olympic success boosts TFL commissioner's pay by £319,000
Transport for London (TFL) commissioner, Peter Hendy, received a £319,006 boost to his remuneration package for 2012/13 as a result of two performance-related bonuses awarded in recognition of the employer’s successful service delivery during the London 2012 Olympic and Paralympic Games.The two bonuses of £150,366 and £168,640 are for 2010/11 ...
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Merlin Entertainments launches restaurant and cinema discount card
EXCLUSIVE: Merlin Entertainments has launched a restaurant and cinema discount card for its employees.The Gourmet Society card, which provides employees with discounts at more than 6,000 restaurants in the UK and Ireland and gives staff discounted cinema tickets, is open to more than 8,000 Merlin employees across the UK and ...
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DOD’s blog: Benefits strategies change gear
I have spent this week at the Employee Benefits Summit in Spain, networking with leading reward and benefits managers as well as learning from leading experts and suppliers across a variety of reward disciplines.This annual event allows many of us – employers, sponsors and the Employee Benefits team – to ...
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Top 10 most read stories this week
This week’s top 10 news stories on EmployeeBenefits.co.uk between 21 June and 27 June:E.On raises pensions take-up to 92% after auto-enrolmentAuto-enrolment prompts employers to review their benefits offeringEmployers launch flexible working forumMPs call for mandatory equal pay auditsChris Judge: Lifetime pension allowance limits changingUniversity of Reading launches online reward and ...
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Hardest working man...ever?
Did you wake up feeling tired, dejected and underpaid? Fear not - here is one young man to inspire you.David Day undertakes a staggering five paid positions and six voluntary posts with which he estimates he clocks up 50 hours’ work per week.The 21-year-old, who earns just £500 a month, ...
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Lifetime annuities will retain their popularity
Lifetime annuities will remainthe most popular annuity product, according to research by pensions administration firm Equiniti Paymaster.Its 2013 Annuity survey, which questioned 40 service providers, retirement planning consultants, employee benefit consultants and trade bodies, found that 85% of annuity professionals agreed lifetime annuities will retain their position as the most ...
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Work-life balance policies crucial for talent
Individualisation is driving work-life balance strategies and HR policies, which is crucial if organisations are to achieve the talent they require to grow.Speaking at the Employee Benefits Summit in Alicante, Spain, in a session looking at ‘Workplace flexibility as a tool to boost productivity’, Dr Steven Poelmans, professor and director ...
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Staff could make equal pay claims from different establishments
Employers could face equal pay claims from staff even if they are employed on different terms and conditions, and at different establishments from male comparators, following a landmark ruling from the Supreme Court.In the case of North and others v Dumfries and Galloway Council, the court ruled that the council ...
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SSE receives 3,000 requests for salary sacrifice cars
SSE has received 3,000 requests for cars from employees through a salary sacrifice arrangement since it was launched in May.The energy supplier, which has 20,000 employees, has already received orders for 500 cars.The scheme, provided by Lex Autolease, offers employees a car for a monthly fee, which includes insurance, service, ...
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Top 10 most read stories this week
Tui UK and Ireland targets staff absenceSiemens UK boosts pensions take-up to 98% Tax relief does not encourage pension savingSick days cost UK nearly £29bn a yearISS uses Nest to comply with auto-enrolmentBarclays and Benefex partner for auto-enrolment servicesAbsenteeism at record lowTPR publishes code on trust-based DC pensionsBlackRock extends access ...
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Sick days cost UK nearly £29bn a year
Sick days are costing UK business nearly £29 billion a year as UK workers take more than four times as many days off work due to sickness as their global counterparts, according to research by PricewaterhouseCoopers (PWC).The research, which is based on data gathered from 2,500 organisations, found that UK ...
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Barclays bonus pool to hit £511m
Barclays Group has allocated £511 million towards staff bonuses in its 2013 Interim results.The £511 million bonus pool includes £94 million of deferred bonus charges.The deferred bonus charge for 2013 remained stable, and there was an expected charge of £1.2 billion relating to future periods for bonus awards granted, but ...
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Asda staff to share £61.7m sharesave payout
More than 19,000 Asda employees are to share a payout of £61.7 million under parent organisation Walmart’s three-year sharesave scheme.The payouts will vary from £3,000 to more than £15,000.The supermarket chain’s sharesave scheme allows employees to set aside between £50 and £250 of their salary per month for a three-year ...
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Siemens UK boosts pensions take-up to 98%
EXCLUSIVE: Siemens UK has seen take-up in its pension scheme rise to 98% since its auto-enrolment staging date.Around 1,000 of Siemens UK’s 13,000 employees were not in its trust-based defined contribution (DC) pension before its auto-enrolment staging date of 1 May.The technology business started communicating auto-enrolment to employees during its ...
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Seven-year sharesave schemes to be abolished
Seven-year savings periods under sharesave schemes are due to be abolished from 23 July.HM Revenues and Customs (HMRC) has not made an official announcement of the change, but has informed sharesave providers that the current prospectuses will not apply from 23 July.Seven-year sharesave contracts will remain available under invitations sent ...
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Tui UK and Ireland targets staff absence
EXCLUSIVE: Tui UK and Ireland has hosted a wellbeing day to focus on developing a holistic health and wellbeing programme across the business and to reduce its sickness absence levels.The travel organisation’s first wellbeing day was held in June at its head office, where 1,200 employees could visit benefits suppliers ...
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Absenteeism at record low
Absence from work in the UK has dropped to a new record low, according to research by the Confederation of British Industry (CBI).The CBI/Pfizer Absence and workplace health survey, which questioned HR managers in 153 organisations employing 850,000 people across the UK, found the average absence rate was 5.3 days ...
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BlackRock extends access to target date funds range
BlackRock is to extend access to its range of target date funds to meet a surge in demand arising from the government’s auto-enrolment legislation.Workplace pension schemes that use BlackRock for scheme administration, investment funds and member engagement tools can now access the LifePath range of annual target date funds.These were ...
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JP Morgan increases mortgage advice
EXCLUSIVE: JP Morgan has increased the number of mortgage advice sessions it offers its 14,500 UK employees.The benefit, which was added to the investment bank’s flexible benefits scheme, Elements, from 1 April 2013, is provided by mortgage broker Charles Cameron and Associates.Adam Brooke, employee benefits manager (UK) at JP Morgan, ...