All Employee Benefits articles in Web Issue – Page 644
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3i Group to reverse bonus plans
Private equity organisation 3i Group, which owns organisations such as fashion retailer Hobbs, has proposed to change its executive director’s pay policy following shareholder discontent.It made the move following a revolt by concerned shareholders held at 3i Group’s annual general meeting (AGM) after it announced it intended to change the ...
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Network Rail incentive plan approved
Network Rail has approved a new long-term inventive plan (L-tip) for executive directors at its annual general meeting.The majority (86%) of members, the organisation’s equivalent of shareholders whose job it is to hold the board to account, approved the new plan on 18 July.The L-tip will recognise outstanding and exceptional ...
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Recession has stopped Britain from saving
More than a quarter (28%) of respondents stopped saving in light of the recession and have not saved since, according to research by Now: Pensions.The survey, which was conducted by OnePoll and questioned 2,000 people, found that a quarter (25%) blame frozen wages and rising bills for their lack of ...
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ArticleUS pay budgets remain static
North American employers expect to work with the same pay budgets for increases (around 3%) as 2012, according to research by Kenexa.Its 2013 Compensation outlook survey, which questioned 1,497 organisations in the US and Canada, found that 17% of respondents have budgeted more than 10% of payroll for variable pay, ...
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Fire authority to launch new HR and payroll system
Merseyside Fire and Rescue Service has signed a five-year deal to have its HR, payroll, finance and procurement systems hosted and delivered by managed services provider Advanced 365.The finance and procurement applications will go live in August, followed by HR and payroll in the following months.The new contract will include ...
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2.3m pension members in schemes with poor data
More than two million (2.3) pension members remain in schemes where the common data standards are not measured or significant improvements are needed to meet a level of at least 95% of present accurate data, according to research by The Pensions Regulator (TPR).Its Scheme record-keeping report, which looked at a ...
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Support for performance-related pay for teachers
Almost two-thirds (61%) of respondents support the government’s plans to introduce performance-related pay for teachers, according to research by Populus.Its research, which questioned 1,723 people, found that only a quarter (28%) of respondents believe that two teachers in the same job with the same length of service should always receive ...
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ArticleThird of over 55s have no pension
Almost a third (30%) of respondents within ten years of the state pension age (over-55s) still have no active pension plan in place, according to research by Aegon UK.Its UK retirement readiness survey, which polled 1,191 employees of all ages across the UK, found that, two-thirds said they had no ...
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Supreme Court overturns Nortel and Lehman pension ruling
Administrators for Nortel Networks and Lehman Brothers have won a case in the Supreme Court, after it ruled that The Pensions Regulator’s (TPR) does not have priority rights to the assets of insolvent companies.The Supreme Court overturned the decision of the Court of Appeal and held that financial support directions ...
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Confessions of a benefits manager: Unwanted advice
I don’t know what came over me. I never accept event invitations from pension advisers. To accept is to tick a box that says: please bore me to death for several hours in some ghastly hotel while several consultants try to sell me services over a rather indifferent dinner.Oh no, ...
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Metro cleaners protest for living wage
Transport cleaners on the Tyne and Wear Metro are to protest for the living wage.The employees, who are backed by the National Union of Rail, Maritime and Transport Workers (RMT), will gather outside a meeting of the Churchill Tyne and Wear Integrated Transport Authority at the Newcastle Civic Centre on ...
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NHS staff in England took 9.5 days sick in past year
NHS workers in England took an estimated 9.5 working days off sick in the past 12 months, according to a report by the Health and Social Care Information Centre (HSCIC).Its report, which looked at the last four financial years and approximately 1.05 million full-time NHS workers in England, compares this ...
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IG Group to review exec remuneration
IG Group is to conduct a complete review of its executive remuneration policy.The decision, which was outlined in the derivitave trader’s Preliminary results for the year ended 31 May 2013, was taken to reflect a realistic view of the medium-term growth prospects of the organisation.The report also disclosed that employee ...
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National Grid aligns global recognition
EXCLUSIVE: National Grid employees have shared more than 13,000 recognition moments globally.It initially launched the pilot recognition programme for 3,000 UK employees in April 2012. In April 2013, the programme was rolled out to the rest of the utilities firm’s 15,000 UK and US employees.Following the merger between its UK ...
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Top 10 most read stories this week
1. Seven-year sharesave schemes to be abolished2. Wilkinson to close final salary pension3. William Grant funds pay rises with PMI savings4. Pension engagement linked to communication5. Network Rail incentive plan approved6. 3i Group to reverse bonus plans7. Supreme Court overturns Nortel and Lehman pension ruling8. Edenred to launch mobile discounts ...
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DOD's blog: HR can affect UK's economic growth
Yesterday the UK’s revised economic growth figures were revealed to be just 0.6%. Better than previously announced, but a long way from where we should be.But running alongside that is the issue that UK employees have had below-inflation-rate pay increases for years. So effectively a pay cut.Read: Pay rises by ...
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Royal baby would mean lower pay rise for staff
Something for the weekend …As the hubbub around the royal baby continues, it’s time to take stock and reflect upon our new prince.Isn’t it great we have a future king? Aren’t we all pleased for the Duke and Duchess of Cambridge?But, according to research by Aalborg University in Denmark, the ...
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ArticleCompensation levels rise for US SmallCap CEOs
Median total compensation levels for chief executive officers (CEOs) in the US SmallCap 600 increased by 4.6% from 2011 to 2012, according to research by US-based executive remuneration data provider Equilar.Its 2013 S&P SmallCap 600 CEO pay strategies report provides a broad-based compensation analysis of 395 CEOs within the SmallCap, ...
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Thomsons enhances benefits platform
Thomsons Online Benefits has launched a new version of its Darwin employee benefits platform.The New Darwin Reward Centre tool is aimed at tablet users and provides employees with greater access to information, with the aim of engaging the workforce and enabling employees to make more informed decisions around their benefits, ...
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Mercer adds Aegon to workplace savings panel
Mercer has added Aegon UK to its workplace savings panel.The Mercer Workplace Savings (MWS) panel, which launched in the UK in 2011, already includes Friends Life and Zurich.The MWS panel allows organisations to select the investment and savings products and services they provide to employees. The range covers trust and ...