All Analysis articles – Page 74
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Analysis
How to select a multinational pooling network
If you read nothing else, read this… Look for networks that match existing benefit coverage. Conduct a full analysis because the cost-effectiveness of a network varies between organisations and depends on factors such as the type of pool, mix of business and locations. Check that management information reporting meets requirements ...
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Analysis
Reward U-turns can turn out for the best
If you read nothing else, read this… Employers have been forced to adopt new ways of cutting costs during the economic downturn, sometimes having to reverse previous decisions. An HR U-turn can be necessary to come up with the best solution for the business and its employees. One employer made ...
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Analysis
What is the overlap between flexible benefits and corporate wrap platforms?
If you read nothing else, read this… As the corporate wrap market develops, there is an increasing overlap between corporate wrap and flexible benefits providers. Several providers have now formed partnerships. Some wrap providers have evolved to develop a broader flexible benefits proposition, but there is debate over how much ...
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Analysis
Beware penalties for pensions auto-enrolment non-compliance
If you read nothing else, read this… Employers must refer to pensions in an employee’s contract of employment, but those that provide too much detail could run into difficulties if they want to make changes in the future. Employers cannot provide staff with opt-out forms if they want to leave ...
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Analysis
The latest changes to auto-enrolment legislation
If you read nothing else, read this… Auto-enrolment legislation has undergone several changes since it was announced in the Pensions Act 2008. The qualifying earnings threshold for staff to be eligible for auto-enrolment has risen from £5,000 to £8,105. More flexibility around contribution levels has also been granted for employers ...
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Analysis
How to add value without cost to the benefits package
If you read nothing else, read this… Employers can use a range of low-cost or zero-cost benefits to enhance the value of their employee benefits package. Many product providers bundle value-added services into their standard offering, such as employee assistance programmes (EAPs) with group income protection products. Discounts on everyday ...
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Analysis
What employers should know about workplace stress
If you read nothing else, read this… The Health and Safety Executive defines stress as “the adverse reaction people have to excessive pressures or other types of demand placed on them at work”. Symptoms of stress include inability to concentrate, memory lapses, negative thinking, panic attacks and tearfulness. Employers with ...
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Analysis
Who are self-invested personal pensions suited to?
If you read nothing else, read this.... Many corporate self-invested personal pensions (Sipps) exist as an added extra to a group personal pension and are typically used by higher earners contributing at least £300 a month.Corporate Sipps can be used as taxefficient vehicles in which to hold company shares, as ...
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Analysis
How retirement savings are impacting workforce planning
If you read nothing else, read this. . . The combined effect of the removal of the default retirement age and the increasing state pension retirement age means that many employees will seek to work for longer to increase their retirement savings. Employees may choose to work for longer for ...
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Analysis
Group risk: What to do when rebroking
If you read nothing else, read this… The hardening of group risk rates is resulting in rebroking focusing on factors other than price. Specialist intermediaries can review group risk product features on behalf of employers. SME intermediaries may restrict product comparisons to two or three insurers. Holding ...
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Analysis
Group Risk: Sponsor's comment
Employees must be made aware of all the benefits of group income protection, says Declan White, head of group protection strategy and marketing at Friends LifeToday's group income protection (GIP) policies provide more than a replacement income. They also help employers to prevent and manage absence, and maintain a fit ...
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Analysis
Pension schemes prominent in Brazil
If you read nothing else, read this… Brazil’s pensions regime is considered by many actuaries to be one of the most sophisticated in the world. Just 30% of Brazil’s private pension provision is defined benefit (DB), yet these schemes represent about 70% of pension assets under management. Employers ...
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Analysis
Using benefits to support employees with sports-related injuries
If you read nothing else, read this… Most large employers offer some level of support to help staff lead a healthy life, ranging from gym membership to charity sports events. Employees are typically expected to take responsibility for their own health and safety when taking part in work-related sports activities. ...
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Analysis
The appeal of master trust pension schemes
If you read nothing else, read this… Master trusts can offer employers reduced pension administration costs and increased governance. The cost efficiencies obtained through a master trust are likely to depend on a number of factors, such as the age profile of pension scheme members and staff turnover. One disadvantage ...
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Analysis
Group risk: How providers give added value
If you read nothing else, read this… Group income protection (GIP) providers are increasingly offering added-value services, including employee assistance programmes (EAPs), line management training and absence management services, as part of their premium to help boost take-up. Employers can further enhance GIP product take-up by regularly raising awareness of ...
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Analysis
Employee Benefits group risk supplement 2012
Download a PDF of the Employee Benefits/Friends Life Group Risk supplement 2012Sponsor’s comment: Declan White of Friends LifeWhat to do when rebrokingHow providers give added valueStrategies for managing long-term absenceGroup income protection versus life insurance
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Analysis
Group risk: Income protection versus life insurance
If you read nothing else, read this… Television advertising has boosted employer awareness of group income protection (GIP), but life cover remains far more popular. GIP premiums tend to be more expensive than life cover, but the product can reduce absenteeism costs significantly. A trend towards limited-term GIP could make ...
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Analysis
Top tips for fleet risk management programmes
If you read nothing else, read this… Reducing fleet risk can reduce operating costs, improve fuel efficiency and cut insurance claims. Employers need to check employees’ driving licences regularly. Telematics technology can be used to monitor driver behaviour, including speed, distance and unsafe manoeuvres.Case study: Osborne cuts fleet insurance costsConstruction ...
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Analysis
Group risk: Strategies for managing long-term absence
If you read nothing else, read this…Maintaining regular contact with an absent employee can improve their chances of returning to work.Employers should consider actions as for an employee on maternity leave, such as catch-up meetings and sending newsletters.Determining an appropriate level of contact with an absent employee should be a ...
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Analysis
Who is the right target market for pre-paid cards?
If you read nothing else, read this…Older employees welcome discounts to make savings on the cost of everyday living, including supermarket shopping and fuel.Younger employees are more likely to use discounts to buy big-ticket and memorable items.Cashback features on pre-paid cards can make them more appealing to a larger proportion ...