All Analysis articles – Page 61
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AnalysisAn overview of the working generations
Source: Talking about my generation: Exploring the benefits engagement challenge, Barclays Corporate and Employer Solutions, September 2013
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AnalysisWhat the new share scheme savings limits mean for employers
If you read nothing else, read this…Investment limits for sharesave schemes and share incentive plans will increase on 6 April 2014.To implement the new limits, employers should check if their scheme’s rules need changing.If an employer’s scheme’s rules are not linked to any change in legislation, it will need to ...
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AnalysisHow to create a multi-generational financial education programme
If you read nothing else, read this…Effective financial education programmes focus on real-life issues, such as indebtedness, rather than employees’ age.Face-to-face support and online modelling tools can help to deliver programme content.Financial stress can affect an employee’s productivity.But ensuring that a programme addresses a workforce’s wider, multi-generational financial needs poses ...
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AnalysisRetirement communication timeline
Source: Regulatory guidance for defined contribution schemes, The Pensions Regulator, November 2013
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AnalysisBuyer’s guide to private medical insurance
The factsWhat is private medical insurance (PMI)? PMI is health insurance to cover employees for the treatment of curable short-term medical conditions. Cover can include consultations, diagnostic tests and in-patient and out-patient procedures.What are the origins of PMI?The roots of PMI can be traced back to the late 19th century, ...
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AnalysisThe impact of the government's Health and Work Service on group health benefits
If you read nothing else, read this…The Health and Work Service aims to help employees on sickness absence to return to work.The service could help providers and employers to create new wellbeing initiatives.But conflict could arise when an employee goes through the referral process.The service aims to provide occupational health ...
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AnalysisWhat does the future hold for group risk benefits?
If you read nothing else, read this…Life assurance is expected to continue to dominate employers’ group risk focus for the next few years as they auto-enrol their workforces.In a new trend, organisations are separating their pension provision and life assurance cover.An ageing workforce does not necessarily mean higher group risk ...
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AnalysisFamily-friendly benefits for the school summer holidays
If you read nothing else, read this…Childcare vouchers are a popular family-friendly benefit that employers offer staff.Flexible working and discount vouchers can be equally valuable.Employers should ensure they do not discriminate against staff without children.But employers can offer considerable support to help them cope, and at relatively little cost.Childcare vouchers ...
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AnalysisGuy Roberts: Cars are the biggest benefit, but can be the trickiest
After a house, a car is typically the biggest purchase a person makes. So it is no surprise that cars are quickly becoming an essential part of a competitive benefits package.However, company cars have always posed challenges. Balancing issues such as the choice of cars, recharges and ex-employees leaving cars ...
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AnalysisBack to basics on diversified growth funds
A diversified growth fund is managed actively so that the range of asset classes changes over time, with the aim of delivering a reasonable rate of return but with less risk than a single asset fund.If you read nothing else, read this …A diversified growth fund invests in a broad ...
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AnalysisAt-retirement options glossary
AnnuityA type of insurance policy that employees can buy from an insurer, often their pension scheme provider, at retirement using their pension savings in return for an income for life.Enhanced annuityWorks in the same way as a standard annuity, but offers better income levels for employees in poor health, caused ...
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AnalysisKey issues around fleet salary sacrifice schemes
Estimates for the number of cars covered by salary sacrifice schemes vary, but a realistic figure would be 50,000-75,000, and this figure is expected to grow in coming years.The number of providers has also increased significantly and recent focus has been on the ‘employee experience’. Many suppliers are concentrating on ...
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AnalysisHow to educate staff about at-retirement choices
If you read nothing else, read this…At-retirement education programmes should focus on employees’ desired lifestyle when they stop work.Employers should also consider employees who may want to work longer.Competent pensions managers can offer cost-effective financial education programmes in-house.Employers should first focus on educating employees about the lifestyle changes they are ...
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AnalysisAll employers need to know about car salary sacrifice schemes
If you read nothing else, read this…Salary sacrifice car schemes are typically low-cost or cost-free for an employer to introduce.Low-emission cars are popular in schemes because of available tax breaks.Employers can put buffers in place to protect themselves from early termination fees and long-term absence of scheme members.Knowing how to ...
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AnalysisKey messages for staff about car salary sacrifice schemes
If you read nothing else, read this…Employers should tell staff about potential savings on income tax and national insurance.Employees need to know that company car tax bands will change every year until 2016-17, which could affect a scheme’s cost.Employees may incur early termination costs if they leave the scheme or ...
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AnalysisHow to implement a cost-efficient global mobility programme
If you read nothing else, read this …A multinational employer requires a centralised policy or set of guidelines to underpin its global mobility programme .Employers must consider how they will pay expatriate staff and which benefits they will use to support them. Employers should assess the value of outsourcing tax ...
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AnalysisWhich global mobility services do respondents outsource?
Source: Managing the global mobility function 2013 , published by the Forum for Expatriate Management in September 2013
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AnalysisTop pension lessons from other countries
If you read nothing else, read this… Too much investment choice can confuse employees.A mandatory defined contribution (DC) environment with centralised administration can help keep pension charges low.A move to collective DC plans from defined benefit (DB) schemes in the UK would not be a gradual change.Ian Neale, director of ...
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AnalysisThe impact of an ageing workforce on a benefits strategy
If you read nothing else, read this…Older employees may choose to work because they enjoy their job, not because they can’t afford to retire.An ageing workforce requires employers to rethink the make-up of their benefits.Workforce planning should be about employees’ skillsets, not their age.Employees aged over 50 make up 27% ...