All Employee Benefits articles in Web Issue – Page 846
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ArticleAxa closes £2.8 billion DB pension longevity swap
Axa UK Group Pension Scheme has closed a longevity swap for its defined benefit (DB) pension scheme with Reinsurance Group of America.The longevity swap transaction covers £2.8 billion of pension liabilities and provides long term protection against costs resulting from pensioners living longer than initially expected, hence enhancing security for ...
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ArticleReal wages rise almost 3%
Real wages in Great Britain increased by almost 3% year on year, excluding bonuses, when comparing the period March to May 2015 with the same months in 2014, according to figures by the Office for National Statistics (ONS).The ONS UK labour market, July 2015 report found that average weekly pay ...
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ArticleBBC employees paid £54,000 on average last year
Staff at the BBC were paid £54,000 on average last year, according to the BBC’s Annual Report and Accounts for 2014/15.The report also revealed that, of the broadcasting organisation’s 18,974-strong workforce, the wage bill for those earning more than £1 million increased by 22%.Tony Hall, director-general of the BBC also ...
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Case StudiesMerseyrail drives business engagement through voluntary benefits
The train operating company introduced its staff discount scheme, ‘Benefits for you’, five years ago with Personal Group. While employees have access to offers including cinema vouchers, holiday discounts and reloadable cards, the organisation uses the scheme as a way of driving employee engagement and increasing discretionary effort.Andy Parry, head ...
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AnalysisHow to build engagement with voluntary benefits
If you read nothing else, read this…A voluntary benefits scheme needs to be well communicated and promoted to ensure employees engage with it.Using benefits champions and savings examples can help engage staff with the scheme.Communications must be ongoing and kept relevant to maintain employee engagement.But for a scheme to be ...
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Supplier article
Greed — if everyone else is investing, probably best you don’t
By Mike Turner, Investment Solutions, Aberdeen Asset ManagementThis article expands upon the third of Mike Turner’s Seven Deadly Sins, which was first published in booklet form in January 2014.What’s the most you would pay for a pretty tulip? A few dollars, perhaps? How about a particularly beautiful midnight blue tulip ...
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Article27% do not measure health scheme take up
Less than a third (27%) of respondents do not measure health programme take-up rates, according to research by insurer Unum.Its research also identified that four in ten employers do not monitor the health and wellbeing of their staff.The research also found:37% of respondents that offer flexible benefits plans do not ...
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ArticleWillis Employee Benefits acquires PMI Health Group
Willis Employee Benefits, provider of global risk advisory, re/insurance broking, and human capital and benefits, has acquired PMI Health Group.The deal aims to increase Willis’ presence in the UK employee benefits and healthcare market, and expand its product offering and skills base.Through the acquisition, Willis Employee Benefits (pictured) will be ...
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Supplier article
Greek bailout: déjà vu all over again
Greece and its creditors have finally reached a deal. So the immediate threat of Grexit has been averted and talks are due to begin shortly on the country’s third bailout. Are these grounds for relief and celebration? The short answer is no, and this note explains why, in three parts: ...
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ArticleTop 10 most read stories this week
The top 10 most read stories on employeebenefits.co.uk between 9-16 July:1. How the Budget affects employee benefits2. EAT introduces 18-month limit on holiday pay carry over3. Workplace benefits of the future4. Consultation launches on gender pay gap reporting5. Government to actively monitor salary sacrifice6. What opportunities does pensions auto-re-enrolment bring ...
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ArticleWhat is the world’s best office view?
Something for the weekend…From a Star Trek-shaped office to a tree-shaped office, employers spend a great deal of time working out how the interior of an office looks and how that affects their employees. But what about the exterior?Perhaps the view from places of work could be the missing ingredient ...
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ArticleSports Direct staff to receive £155 million in bonuses
Some 2,000 managers and permanent staff at Sports Direct are to receive £155 million in bonuses, worth approximately £77,000 each in a staggered payout, after beating set targets.Bonuses for the 2,000 staff relate to a performance share scheme introduced by Sports Direct in 2011.The payout was triggered when the group ...
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Supplier article
Envy — Imitating the index is the poorest form of flattery
By Mike Turner, Investment Solutions, Aberdeen Asset ManagementThis article expands upon the sixth of Mike Turner’s Seven Deadly Sins, which was first published in booklet form in January 2014.When shopping for a product, you expect it to do what it says on the tin. The idea of ‘what you see ...
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Article40% rise in employees seeking assistance for depression
The number of depression-related calls employees made to Canada Life Group Insurance’s employee assistance programme increased by 40% year on year, according to data from Capital Health and Wellbeing.The findings, which are based on call data for the first quarter of 2015, revealed that 21% of calls made to the ...
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ArticleIkea UK to introduce the living wage
Ikea UK is to introduce the living wage from April 2016.The retailer has committed to paying all staff at least £7.85 an hour, and a minimum of £9.15 an hour in London.The pay increase is expected to impact 50% of Ikea UK’s 9,000 employees.Ikea’s living wage pledge is part of ...
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Supplier article
Take a trip around the world of international benefits
That’s why we’ve created a short video to give you guidance on your key considerations to help you meet your duty of care for employee populations based overseas. In just three minutes we can give you an overview of:Your duty-of-care requirements and the potential consequences you could face if you ...
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Supplier article
Pensions tax relief consultation…
Should changes be made to the current tax relief system, it would be expected that all workplace pension schemes would be affected, and this would doubtless create additional duties, work and costs for employers in the process. So this consultation is important, and I would encourage employers to respond directly ...
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Supplier article
England vs Australia: pensions
In Australia, if an employee earns over a certain amount, their employer must pay 9.5 per cent into their pension (or superannuation fund as it is known in Australia). Furthermore, they employ auto-escalation, so that pension contributions increase every year. In the UK, meanwhile, the total minimum contribution that has ...
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ArticleSpecsavers introduces retail incentive scheme
EXCLUSIVE: Specsavers has implemented an epoints system to reward and motivate its 17,500 employees.The optical retailer has introduced the multi-retailer consumer loyalty scheme from epoints Rewards, through which its employees can choose to buy products from retailers such as Thorntons, Amazon, Marks and Spencer, Odeon, T.G.I. Fridays and Pizza Hut.Specsavers ...
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Supplier article
Seven tips for building your retirement nest egg
By Aberdeen Asset ManagementThe majority of today’s workers are responsible for making their own financial provision for retirement. So what do you need to consider when it comes to building up a retirement nest egg?