http://www.watsonwyatt.com Latest Watson Wyatt News en-us Copyright 2008 Watson Wyatt Worldwide http://backend.userland.com/rss091 5/9/2008 1:48:42 PM 20 Watson Wyatt has further expanded its defined contribution (DC) pension consulting team with two new appointments. [UNITED KINGDOM]http://www.watsonwyatt.com/search/parser.asp?ID=19044WIESBADEN, 6. Mai 2008 – Immer mehr Arbeitgeber bieten ihren Mitarbeitern eine Kfz-Zulage (Car Allowance) anstelle eines Firmenwagens an. Nach einer Studie von Watson Wyatt nutzen 35 Prozent der befragten deutschen Unternehmen diese Option – ein Drittel mehr als vor vier Jahren. Der Trend geht vor allem auf multinationale Unternehmen zurück, die europa- oder weltweite Dienstwagenregelungen einführen. [GERMANY]http://www.watsonwyatt.com/search/parser.asp?ID=19041Retirement Plan Coverage is also a Factor, According to Watson Wyatt. [UNITED STATES]http://www.watsonwyatt.com/search/parser.asp?ID=19047Around ninety per cent of Defined Contribution (DC) plan members in the UK opt for the default option when choosing their investment arrangements according to an article in Watson Wyatt’s Global Investment Matters publication. [EUROPE]http://www.watsonwyatt.com/search/parser.asp?ID=19028Watson Wyatt Worldwide, a leading global consulting firm, today announced that Michael Daly has been promoted to take on a new role as Head of Life Consulting, North Asia for its Insurance and Financial Services Practice. [ASIA-PACIFIC]http://www.watsonwyatt.com/search/parser.asp?ID=19039The majority of respondents in a recently conducted Watson Wyatt poll, only weakly believed that investment manager’s past performance is a valuable indicator of future performance. [ASIA-PACIFIC]http://www.watsonwyatt.com/search/parser.asp?ID=19036UK – May 1, 2008 – Cash is in the driving seat for an increasing number of UK employers’ company car policies. A new report from consultants Watson Wyatt has found that 28 per cent of employers provide a cash allowance instead of a car; double that of four years ago and now more the than proportion (23 per cent) who offer company cars without a cash alternative. [EUROPE]http://www.watsonwyatt.com/search/parser.asp?ID=19033On April 25, 2008, the government issued a consultation document on providing the Pensions Regulator (tPR) with powers to pursue companies and individuals whose actions weaken pension schemes, even where this effect is unintentional. The legislation will force companies to undertake more rigorous risk management. [UNITED KINGDOM]http://www.watsonwyatt.com/search/parser.asp?ID=19008More than 85 percent of companies provide additional medical benefits to employees covered by national contractual labor agreements as a retention and attraction tool, a recent survey has found. While employers appear committed to providing private healthcare benefits, most predict the rate of medical cost increases will accelerate in coming years. Many will be looking to review plan design and benefits levels in an effort to control the cost of their plans. [ITALY]http://www.watsonwyatt.com/search/parser.asp?ID=19029Employed and independent workers' minimum taxable income for 2008 tax filings has been raised as of January 1, 2008. [COLOMBIA]http://www.watsonwyatt.com/search/parser.asp?ID=19030As of July 1, 2008, all employers must provide superannuation support of at least 9 percent per employee’s “notional earnings base.” In addition, all superannuation funds must provide a minimum level of death insurance to members who have joined it by default. Although employers have been preparing to meet these requirements for some time, many are taking another look at their plans now that the deadline is drawing near. [AUSTRALIA]http://www.watsonwyatt.com/search/parser.asp?ID=19037The Labor Department recently ruled that a specific but complex global asset pooling arrangement satisfies ownership requirements under the Employee Retirement Income Security Act (ERISA). This ruling potentially removes a significant roadblock multinational companies faced when attempting to combine assets of employee benefit plans maintained all over the world into a single pool. [UNITED STATES]http://www.watsonwyatt.com/search/parser.asp?ID=19026New accounting rules take effect for accounting periods beginning on or after January 1, 2008. The rules for long-term employee benefits liabilities may, on the surface, seem similar to international standards. However, a few differences could force employers to explore whether their accounts will qualify as equivalent under the new rules and could affect the valuation and accounting of their defined benefit pension liabilities. [SPAIN]http://www.watsonwyatt.com/search/parser.asp?ID=19027Perceived change allows HR executives to play an increasing role in plan design, according to Watson Wyatt/Conference Board of Canada. [CANADA - ENGLISH]http://www.watsonwyatt.com/search/parser.asp?ID=19022Il semble que les dirigeants des ressources humaines joueront un rôle croissant dans la conception des regimes de retraite, selon Watson Wyatt et Le Conference Board du Canada. [CANADA - FRENCH]http://www.watsonwyatt.com/search/parser.asp?ID=19023Calls by the House of Commons Public Accounts Committee that the Pensions Regulator should target its efforts on defined contribution (DC) pensions should be treated with a degree of caution, given that over-regulation has been one of the prime causes of the demise of many private sector defined benefit (DB) schemes, according to consultants Watson Wyatt. [UNITED KINGDOM]http://www.watsonwyatt.com/search/parser.asp?ID=19011The government recently approved a number of changes to retirement programs that could broaden coverage for workers. Among them is a provision that will allow employers to offer voluntary savings vehicles (ahorro provisional voluntario or APV) on a group basis, with tax advantages for employees. As a result, this new vehicle could offer employers a significant attraction and retention tool. [CHILE]http://www.watsonwyatt.com/search/parser.asp?ID=19017Proposed immigration reforms in Sweden would make it easier for employers to recruit employees from around the world and would automatically give work permits to any foreign worker with a job in Sweden. The measure, which is expected to be enacted, would take effect on December 15, 2008. [SWEDEN]http://www.watsonwyatt.com/search/parser.asp?ID=19007UK - April 22, 2008 - Analysis by Watson Wyatt of figures published this week by HM Treasury shows that the contributions paid by UK Government departments and employees to public sector pension schemes are less than the cost of the new benefits being earned, as measured in Government accounts. [UNITED KINGDOM]http://www.watsonwyatt.com/search/parser.asp?ID=18992Washington, D.C., April 23, 2008 — Most U.S. companies do not support a single-payer health care system or state legislation mandating coverage. Instead, they prefer relying on private-sector solutions, according to research by Watson Wyatt Worldwide, a leading global consulting firm, and the National Business Group on Health. [UNITED STATES]http://www.watsonwyatt.com/search/parser.asp?ID=18990Watson Wyatt has appointed Sarah Luheshi to its Insurance and Financial Services practice. [UNITED KINGDOM]http://www.watsonwyatt.com/search/parser.asp?ID=18985Gijsbert de Lange has joined Watson Wyatt, the leading global consultant, to head the firm’s structured solutions efforts in continental Europe. [EUROPE]http://www.watsonwyatt.com/search/parser.asp?ID=18951Watson Wyatt has launched a leading-edge replicating portfolio tool to help insurance companies meet pressures from investors, rating agencies and regulators to use more sophisticated and embedded risk models. [UNITED KINGDOM]http://www.watsonwyatt.com/search/parser.asp?ID=18974A new social security system, with components of both traditional defined benefit (DB) pensions and defined contribution (DC) retirement accounts, began operating on January 1, 2008. Employers and employees are paying higher contributions to fund the new system. [PANAMA]http://www.watsonwyatt.com/search/parser.asp?ID=18978Christopher DeMeo has joined Watson Wyatt, the leading global consultant, from Russell Investments where he was Director of Investment Strategy for that firm’s North America Institutional Investment group. [UNITED STATES]http://www.watsonwyatt.com/search/parser.asp?ID=18945Watson Wyatt Worldwide, a leading global consulting firm, today announced that Richard Holloway has been appointed Asia Pacific Regional Practice Director for its Insurance and Financial Services Practice. [ASIA-PACIFIC]http://www.watsonwyatt.com/search/parser.asp?ID=18971Proposals announced by the Department for Work and Pensions yesterday could have ramifications extending far beyond the cases they are targeted at, according to Watson Wyatt. [UNITED KINGDOM]http://www.watsonwyatt.com/search/parser.asp?ID=18973Watson Wyatt Worldwide, a leading global consulting firm, announced today the appointment of Jim Shaddy as director of retirement consulting services in North America, effective immediately. [UNITED STATES]http://www.watsonwyatt.com/search/parser.asp?ID=18976Employees will be able to transfer funds between pension instruments and providers without suffering tax consequences, under legislation that will be implemented in two steps. The new law will apply to provident and pension funds as of October 1, 2008, and to executive insurance accounts as of January 1, 2009. [ISRAEL]http://www.watsonwyatt.com/search/parser.asp?ID=18969Watson Wyatt, a leading global consulting firm, today announced that Yvonne Cox has been named Managing Consultant for Singapore. [SINGAPORE]http://www.watsonwyatt.com/search/parser.asp?ID=18954 [EUROPE]http://www.watsonwyatt.com/search/parser.asp?ID=18909Fewer Than Half Show How Pay Reflects Corporate Performance. [UNITED STATES]http://www.watsonwyatt.com/search/parser.asp?ID=18939Watson Wyatt Worldwide, a leading global consulting firm, announced today the appointment of Craig Adams as East Division manager, effective immediately. In his new role, Adams will have overall responsibility for the management of all Watson Wyatt offices in eastern North America. [UNITED STATES]http://www.watsonwyatt.com/search/parser.asp?ID=18936Watson Wyatt has welcomed a report from the Committee of European Insurance and Occupational Pension Supervisors (CEIOPS) on how countries in the European Economic Area measure the levels at which companies must fund their defined benefit pension schemes, and on the other mechanisms that are in place to provide security for pension scheme members. [EUROPE]http://www.watsonwyatt.com/search/parser.asp?ID=18942Call for clarification on cross-border pensions Watson Wyatt welcomes calls for urgent clarification of what constitutes cross-border pensions activity. [EUROPE]http://www.watsonwyatt.com/search/parser.asp?ID=18916UK, April 2, 2008 - FTSE 100 companies had combined surpluses of £40 billion in their pension funds at the end of March on an FRS17 measure, Watson Wyatt estimates. This is the largest surplus since the firm began monitoring surpluses/deficits in UK pension funds back in 2002. [EUROPE]http://www.watsonwyatt.com/search/parser.asp?ID=18903UK, March 31, 2008 - Double the number of UK pension schemes are preparing for buyout within the next 10 years than were a year ago, according to delegates at a Watson Wyatt seminar. [EUROPE]http://www.watsonwyatt.com/search/parser.asp?ID=18884Global, March 31, 2008 – Roger Urwin to lead on global investment thought leadership and research [GLOBAL]http://www.watsonwyatt.com/search/parser.asp?ID=18885Employers must withhold more social security contributions from employees’ paychecks according to a presidential decree of February 21, 2008. The decree also sets new maximum and minimum levels for retirement benefits paid by the government. [ARGENTINA]http://www.watsonwyatt.com/search/parser.asp?ID=18891Minimum pensions and salaries are being adjusted based on corrected inflation estimations, the Labor Minister recently announced. [FRANCE]http://www.watsonwyatt.com/search/parser.asp?ID=18895