All Analysis articles – Page 62
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AnalysisWhat is a relevant life policy?
Key points about relevant life policies:A relevant life policy (RLP) provides life cover outside of the structure of a registered pension scheme.An RLP’s death benefits do not form part of an employee’s lifetime allowance, so does not trigger a tax charge.The premiums of an RLP do not form part of ...
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AnalysisLanguage to avoid in pension communications
If you read nothing else, read this…Communication should be clear and straightforward, avoiding jargon where possible.Messages could be tailored for different age groups and industry sectors.Jargon can put employees off saving for retirement.A National Employment Savings Trust (Nest)/YouGov survey, published in 2012, which polled nearly 2,000 UK adults, revealed that ...
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AnalysisBenefits offered to staff based outside the UK
Sample: Respondents responsible for compensation and benefits in their own organisation, which offer benefits to staff based outside the UK (80)Source: The Benefits Research 2013, Employee Benefits, published May 2013.
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AnalysisEmployers’ legal requirements for workplace management
Welfare provisionsToilets.Hand basins with soap and towels or a hand-drier.Drinking water.A place to store clothing and somewhere for employees to change/lockers.Somewhere for employees to rest/eat food, which could be their desk.Health provisionsA supply of fresh, clean air from outside, either from open windows or via a mechanical ventilation system, such ...
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AnalysisHow workplaces can affect employee health
If you read nothing else, read this…Good office design can boost employee health and wellbeing .But corporate culture is just as important and must be driven from chief executives down through organisations.Offices that encourage physical activity can help combat disorders such as obesity .For example, the design features of Long ...
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AnalysisWhat makes an organisation a family-friendly employer?
If you read nothing else, read this…Retail or leisure discounts help put money back into families’ pockets.Healthcare benefits, such as private medical insurance and health cash plans, may allow staff to extend cover to family members.Changes to the childcare vouchers scheme and shared parental leave, both coming into force in ...
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AnalysisA quick guide to employee benefits tax
Tax-efficient benefits offered through a salary sacrifice arrangement are exempt from income tax, employer’s NI and employee’s NI. This is so because a benefit offered in this way reduces an employee’s pay, so less tax and national insurance is due and the employer will not have to pay NI contributions ...
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AnalysisAverage price paid for health cash plans
Read the digital version of our Health cash plan supplement 2014 in full.
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AnalysisHow to align health cash plans with employees' healthcare needs
If you read nothing else, read this…Employers must first identify which employees would benefit from health cash plans.Staff surveys and management information can then help to identify employees’ healthcare needs.But employers must also consider their own business objectives.Laing and Buisson’s Health Cover UK Market Report 2013 , published in July ...
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AnalysisFive top workplace savings initiatives
If you read nothing else, read this…Employers can offer a range of schemes to help meet employees’ short- and long-term savings objectives.Effective marketing of workplace savings schemes can generate interest and boost participation.Employees will appreciate the ability to analyse their whole financial portfolio.Whether it’s short-term savings or putting more money ...
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AnalysisHealthcare benefits to address depression in the workplace
If you read nothing else, read this…One in five adults in the UK experience anxiety or depression.Line manager training and online assessment tools can help employees to manage depression.A support programme to address depression can integrate all healthcare benefits.This finding, together with the detrimental effect winter can have on employees’ ...
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Analysis
What are the legal requirements for auto-enrolment communications?
Communication must include:A statement that the employee has been, or will be, automatically enrolled into a pension scheme.The enrolment date.Details of the pension scheme provider.The value of both employer and employee contributions.If it is a defined contribution pension scheme, the employer must advise staff of the phased increases as a ...
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AnalysisCommunication strategies to engage staff with pensions auto-enrolment
If you read nothing else, read this…When communicating auto-enrolment, employers must remember their audience, make it relevant and start early, using various communication methods.Communications must be tailored to individual employees. Technology is a key factor in engaging staff with auto-enrolment. Before communicating the details of how auto-enrolment will work and ...
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AnalysisThe value of health cash plan benefits paid in 2012
Read the digital version of our Health cash plan supplement 2014 in full.
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AnalysisWhy health cash plans are an integral part of a health and wellbeing strategy
If you read nothing else, read this:Health cash plans can be used to support an employer’s wellbeing strategy.The wide range of healthcare benefits available through a cash plan makes them appeal to all members of a workforce.A cash plan sits well alongside, not in place of, other healthcare benefits such ...
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Analysis
Employee Benefits magazine – January 2014
Councils are used to working with limited budgets. This month we explore how Hertfordshire County Council has been juggling limited cash for benefits with the aim of keeping staff happy. Find out how they did it in Taxing strategy (page 46).What happens when there is a huge differential between what ...
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AnalysisHow to motivate lower-paid staff in high-pay cultures
If you read nothing else, read this…Lower-paid staff need to see that high pay is earned.This relies on employers having transparent pay policies.Recognition programmes can help to keep lower-paid staff motivated.The row was fuelled by a job advertisement for a lead kitchen porter at Arsenal’s Emirates Stadium, placed by Arsenal ...
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AnalysisHow much pension fund choice should employers offer their workforce?
If you read nothing else, read this…Evidence shows that the greater the choice of pension funds, the less engaged employees may become in the scheme. Some employees in some market sectors, such as financial services, will always be more engaged than others. Many employers just want to get through auto-enrolment ...
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Analysis
Health cash plan market round-up
If you read nothing else, read this…Health cash plans remain an attractive, low-cost healthcare benefit for all employees.Choice of healthcare providers is growing to meet demand.Providers are expanding their plans to offer a wider choice of benefits.There are currently 26 providers offering health cash plans in the UK following the ...
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AnalysisFacts and figures on health cash plans
Read the digital edition of our Health cash plans supplement 2014 in full.