All Employee Benefits articles in Web Issue – Page 678
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Article
UK university staff to strike over pay
Employees at UK universities and colleges are striking over pay on Thursday 31 October. Members of the University and College Union (UCU), Unison and Unite are protesting a 2013/14 pay rise of just 1%.The unions are demanding a basic pay rise of at least 3.2% to match inflation. The University ...
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Royal Mail calls off strike over pay and pensions
Royal Mail employees have called off their planned strike for 4 November as a result of an agreement being made on changes to pay, pensions and job security between the Royal Mail Group and the Communication Workers Union (CWU).A statement from the two parties said they had made progress in ...
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FTSE 100 directors' total earnings up by 14%
Directors of FTSE 100 companies have seen their total earnings rise by 14% over the past 12 months, according to research by Income Data Services (IDS).The IDS Executive compensation review, which analysed the pay of FTSE 100 company directors, found that the increase was driven by a 58% rise in ...
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Article
16% would call in sick to avoid childcare costs
Around one-sixth (16%) of respondents would call in sick to work to avoid the costs of childcare during half term, according to research by Vouchercloud.Its research, which surveyed 1,612 working parents, looked into childcare arrangements over the half-term period.More than a quarter (27%) intended to use nursery or some other ...
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Article25% of pensions not compliant with DC code of practice
A quarter (25%) of pension trustees surveyed believe their scheme is not at all compliant with The Pension Regulator’s (TPR) new code of practice for trust-based defined contribution (DC) pensions, according to research by law firm Sackers.Its research, which surveyed 44 pension trustees at the 2013 National Association of Pension ...
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26% say their employer has no post-maternity return-to-work policy
Around a quarter (26%) of respondents work for employers with no return-to-work policy for mothers returning to work after having a child, according to research by Mumsnet.Its research, which surveyed more than 1,000 users of the parenting website, found that 22% said their employer did not have a phased return-to-work ...
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Article
A third of 30-somethings not saving for retirement
Almost a third (31%) of respondents in their 30s are not saving anything at all for retirement, according to research by Friends Life.Its GenXpectations research, which surveyed 2,000 individuals, found that more than half (51%) of respondents over the age of 40 said they wish they had saved more for ...
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41% have not discussed retirement plans with partners
More than two-thirds (41%) of respondents have never discussed how they will turn their pension savings into income in retirement, according to research by Prudential.Its research, which surveyed 1,996 adults over the age of 40 who currently live with their spouse or partner, found that 19% have discussed this but ...
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McCarthy and Stone raises pensions take up by 45%
EXCLUSIVE: McCarthy and Stone has increased take up in its pension scheme by 45% since it launched a workplace savings platform three years ago.The platform, provided by Hargreaves Lansdown, includes access to a self-invested personal pension, independent savings account and investment account.Since the retirement homes developer launched the platform in ...
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Article
QVC reduces group risk costs by 63%
EXCLUSIVE: QVC has reduced its group income protection (GIP) costs by 63% over the past three years.The home shopping channel, which has 2,000 employees, had historically provided full-term GIP for the 600 members of its defined contribution (DC) pension scheme.It consulted with Towers Watson’s healthcare and risk consulting practice to ...
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Article
Three raises pensions take up to 80%
EXCLUSIVE: Three has increased its pension scheme take up from 68% of staff to 80% following auto-enrolment.The mobile phone organisation auto-enrolled 702 eligible employees on 1 October after it had postponed from 1 July to align the process with its flexible benefits enrolment window.Seth Russell, director of reward at Three, ...
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Article
Aberdeen confirms acquisition of Scottish Widows’ investment business
Aberdeen Asset Management has confirmed that it is to acquire Scottish Widows Investment Partnership (SWIP), as well as its private equity and infrastructure fund management businesses.The acquisition, which was first proposed in October, includes a long-term strategic relationship with SWIP’s parent company, Lloyds Banking Group.The consideration for the acquisition of ...
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Article
Aetna International to acquire InterGlobal
Aetna International is to acquire InterGlobal from a group led by its majority shareholder, Alchemy Partners, for an undisclosed sum. InterGlobal has more than 65,000 medical members worldwide and specialises in international private medical insurance (PMI) for organisations and individuals in Africa, Asia, Europe and the Middle East.The transaction is ...
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Article
Computershare acquires Kidsunlimited voucher business
Computershare Voucher Services (CVS) has acquired Kidsunlimited’s childcare voucher business from Bright Horizons, which had purchased it in April 2013.It has also formed a strategic partnership with Bright Horizons, which will build on the two organisations’ common goals and childcare expertise.The partnership will see CVS and Bright Horizons work closely ...
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Article
Aviva trains rehabilitation team in mental health first aid
Aviva has trained its 20-strong rehabilitation team to be mental health first aid instructors.The training, by Mental Health First Aid (MHFA) England, will support Aviva’s in-house clinical specialist psychiatric nurse and in-house clinical physiotherapist, as well as a dedicated team of rehabilitation case managers.They have been trained to recognise the ...
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Article
London Luton Airport halves healthcare costs
EXCLUSIVE: London Luton Airport has halved its health insurance premiums and seen employee take up of its health benefits rise to nearly 100% over the past year.The airport launched a health cash plan, Mosaic, and hospital treatment insurance, with healthcare provider Westfield Health in 2012.Mosaic, which can be tailored to ...
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Royal Mail staff must wait for full shares allocation
Royal Mail employees will not receive their full free share allocation until April 2014.Using calculations based on a maximum share price offer of 330p per share, the 150,000 eligible full-time employees were due to immediately receive around 725 free shares each, while part-time staff would receive a smaller number of ...
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Government consults on defined ambition pensions
The government has published a consultation into its defined ambition pension scheme.The Department for Work and Pensions (DWP) introduced its proposals for a defined ambition pension in November 2012 in its paper, Reinvigorating workplace pensions.The defined ambition pension is designed to reshape workplace pensions for future generations, create more certainty ...
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Aon Hewitt launches guide to DC pensions
Aon Hewitt has launched a guide to defined contribution (DC) pension schemes.Achieving better member outcomes – a practical guide to DC pensions provides an overview to employers and trustees of all aspects of DC pensions.The guide covers:Understanding the plan and setting priorities.Improving savings rates.Investment strategies.Designing the default option.Making the right ...
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Article
Capita appoints senior investment consultant
Capita Employee Benefits has appointed Sam Roberts (pictured) senior investment consultant.Roberts joins from Lane Clark and Peacock (LCP) where he was a lead consultant with a specific focus on investment.In the new role, Roberts will provide a range of investment advice to both trustee boards and employers, including advice on ...