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Stakeholder deadline sees last minute rush to sign up

first_imgStakeholder deadline sees last minute rush to sign upOn 16 Oct 2001 in Personnel Today Previous Article Next Article A third of employers have not met the stakeholder pension deadline accordingto estimates by the Association of British Insurers. All employers with more than five employees were required to have introduceda stakeholder scheme by 8 October if they had no pension provision, or facefines of up to £50,000. More than 100,000 employers have missed the deadline, despite a last minuterush by firms. Stephen Sklaroff, the ABI’s deputy director-general, said, “Manyproviders are reporting a rush of employers signing up for stakeholders. “No-one knows precisely what the figure is but best estimates put it assomewhere between 300,000 and 350,000. “It is unlikely that all of them signed up by the deadline but thefigures so far look promising. We hope the rest will follow as soon aspossible.” The latest figures from the ABI reveal that during August alone more than25,000 employers designated a stakeholder pension scheme and 64,000 newpensions were set up. Sklaroff said the introduction of the stakeholder pension has also led to anincrease in the sales of individual and group personal pensions. He added,”The introduction of the stakeholder pension together with the widerstakeholder effect is good news. “Recent research for the ABI calculates that the savings gap now totals£27bn a year. Stakeholder makes a good start in encouraging people to save butmore must be done.” Nick Edmans, a spokesman for pensions watchdog, the Occupational PensionsRegulatory Authority, said initially employers only have to choose a registeredstakeholder scheme and inform their staff, to comply with the regulations. www.abi.org.ukBy Ben Willmott Comments are closed. Related posts:No related photos.last_img read more

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Managers under the spotlight as survey uncovers knowledge gaps

first_imgSenior European executives and managers will be the subject of aninvestigation into the generational differences among organisational leaders. The study – Emerging Leaders: Revolution, Evolution or Status Quo – run bythe Center for Creative Leadership (CCL) is the second phase of a globalresearch programme. Phase one looked at values and behaviour among three generations of managersand leaders, mainly in the US. Though some real differences emerged – older people are more likely to bemarried and higher up in organisational hierarchies – there were manysimilarities. Almost all the sample in phase one believed they were contributing to societyin their current jobs, trusted their organi- sation to keep its promises andbelieved that they would be developed as employees. However, the younger the respondent the stronger the belief that you shouldonly stay at an organisation for as long as it was personally useful. Youngerrespondents also believed that career advancement within a company was based onskill at office politics. The research also revealed that younger managers are also more likely toexpress difficulty in working with or managing people from older generations. CCL project leader Jennifer Deal said: “The findings of phase onereveal that many deeply held beliefs are based on myths. Values, such asrespect and ambition, seem to be the same across generations, but the way thosevalues are demonstrated may be very different.” Kim Lafferty, UK manager for CCL, said understanding the generationaldifferences could help companies and other organisations plan for succession,retain valued employees and provide the most effective training. For further details and to participate in the research project, visit thewebsite.  http://eleaders.ccl.orgBy Mike Berry Comments are closed. Managers under the spotlight as survey uncovers knowledge gapsOn 20 Apr 2004 in Personnel Today Related posts:No related photos. Previous Article Next Articlelast_img read more