All Analysis articles – Page 73
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Analysis
Workplace Savings: Joint effort required on savings
If you read nothing else, read this… Auto-enrolment is raising employee awareness about savings benefits. Staff expect employers to keep them informed about workplace savings. Financial education should be based on guidance, not advice. Communications should focus on risk. The new generation of savers require online and mobile communication. Providers ...
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Analysis
News analysis: Meeting reward challenges in Asia
Business opportunities abound in Asia, but there are specific challenges that reward and benefits managers from the UK must face, says Debi O’Donovan The Confederation of British Industry has called on employers to look to Asia to harness greater business opportunities. With Office for National Statistics figures for August showing ...
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Analysis
Pensions: what are enhanced transfer values?
If you read nothing else, read this… An enhanced transfer value (ETV) is the value an employer offers an employee for their defined benefit (DB) fund in return for them transferring out. Employers typically use ETVs as a risk management tool with which to reduce long-term DB liabilities and costs. ...
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Analysis
Managing employee expenses
If you read nothing else, read this… Many people believe it is acceptable for an employee to fiddle or exaggerate expenses when they work long hours but are not paid overtime. Corporate policies allowing senior staff to claim for first-class travel reinforce aculture of expenses as benefits. The Bribery Act ...
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Analysis
How to use Christmas incentives to engage staff
If you read nothing else, read this… Christmas is not a fun time for everyone. It can be a stressful period for employees who have health or money worries. Employers must be sensitive to employees’ individual circumstances around Christmas time, particularly those who have suffered some form of loss during ...
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Analysis
Using corporate platforms makes savings benefits easier to handle
If you read nothing else, read this… Corporate platforms can help employers show the breadth and value of their savings offer. Purists believe corporate platforms should feature a pension scheme, an individual savings account and a form of savings account. Employers must ensure their corporate platform products are relevant to ...
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Analysis
Flexible Benefits: Providers: Choosing a new flavour
If you reading nothing else, read this…Changing flexible benefits provider could take three to six months to complete.Employers should shortlist around six providers and invite them to pitch their flex products and services.Employers should choose a provider that can adapt to their needs cost-effectively over time.An employer considering switching flexible ...
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Analysis
How many flexible benefits windows should you have?
If you read nothing else, read this… Introducing multiple enrolment windows keeps a flexible benefits scheme fresh and engages the interest of employees in key benefits at specific times of the year. An emerging trend is towards ‘anytime benefits’, which are offered through flex ona monthly basis by some providers. ...
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Analysis
Flexible Benefits: Too spoilt for choice?
If you read nothing else, read this… A number of UK employers offer more than 10 perks through flexible benefits schemes. Employers should structure and communicate their flexible benefits schemes around their employee demographics to maximise engagement. There is no harm in removing benefits that have very low employee take-up.Case ...
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Analysis
Flexible Benefits: Top 10 tax tips: Taming the taxman
If you read nothing else, read this… The tax treatment of benefits varies, so employers should ensure their flex scheme takes account of these differences. Employee communications about benefits tax should be clear, simple and targeted to enable employees to make informed decisions about benefits. Employers should review their flex ...
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Analysis
Employee Benefits Flexible Benefits Supplement 2012
Download a PDF of the Employee Benefits/Aon Hewitt Flexible benefits supplement 2012Cover story: Too spoilt for choice?Flex windows: Window shoppingEmployer profile: GE harmonises perksOpinion: Peter Reilly of the Institute for Employment StudiesTop 10 tax tips: Taming the taxmanProviders: Choosing a new flavourSponsor’s commentEditor’s commentIs it possible to offer too many ...
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Analysis
What level of investment risk should employers and employees take?
If you read nothing else, read this… Employers and pension trustees have been seeking ways to limit the level of risk in default funds. Poorly performing investments will reduce the size of pension pots, with repercussions for employers and staff Ascertaining risk for scheme members is fraught with difficulties. The ...
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Analysis
Top tips for greening your fleet
If you read nothing else, read this… One of the most obvious ways to cut carbon dioxide (CO2) emissions is to introduce a cap. Employers can get a more accurate picture of how efficient a car is by considering costs over its lifetime. Driver training can help maximise fuel efficiency ...
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Analysis
Right ingredients for a DC investment strategy
If you read nothing else, read this… 80% of DC pension members opt for their scheme’s default fund. There is some disagreement over whose role it is to set asset allocation. The Pensions Regulator expects improved investment governance. DC schemes are moving to spread investment risk outside pure equities.Case study: ...
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Analysis
How to communicate defined contribution pension schemes
If you read nothing else, read this… Keep communications to employees about the importance of workplace saving simple and direct. Do not fall into the trap of stereotyping employees when targeting differentgroups in pension communications. Encourage employees to save more for their retirement by using pension modelling tools and providing ...
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Analysis
How to clearly communicate pension scheme contributions
If you read nothing else, read this… Pension scheme communications should refer to contributions as pounds and pence rather than as a percentage of salary. Employers should clearly illustrate all tax relief relating to employees’ pension scheme contributions. Pension modelling tools can help engage employees by enabling them to assess ...
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Analysis
How SMEs can offer group risk benefits
If you read nothing else, read this…The group risk market has historically not been suited to small and medium-sized enterprises (SMEs) because of the relatively high cost of products.Lack of product choice has resulted in many SMEs emulating medium and large firms’ plan designs, resulting in them offering over-generous employee ...
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Analysis
Auto-enrolment and the future of workplace savings
Employee Benefits assembled a panel of industry commentators to discuss recent developments in workplace savings and the impact of pensions auto-enrolment. Padraig Floyd reportsWorkplace savings benefits have developed rapidly in a market where regulation is reinforcing the need for employees to save for their retirement.On the eve of auto-enrolment, we ...
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Analysis
Key facts about childcare vouchers
If you read nothing else, read this… Employees can use childcare vouchers for any registered nursery or childminder, as well as after-school and summer clubs, for children up to the age of 16. Vouchers can be refunded, but they cannot be transferred between employers. Both working parents are entitled to ...
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Analysis
Buyer’s guide to share incentive plans 2012
What are share incentive plans?A share incentive plan (Sip) is a tax advantaged savings vehicle introduced by the government in 2000 to encourage employee share ownership. Four types of shares can be used in a Sip: free shares, partnership shares, matching shares and dividend shares. Employers can give each employee ...