Analysis – Page 9
-
Analysis
Quirky schemes to help employees save
If you read nothing else, read this…Employers are creating more innovative savings schemes for staff.Existing funds help employees to save for their first home, holidays and school fees.Successful take-up relies on a robust financial education programme.Life has never been more challenging for Generation Y. UK unemployment may have fallen by ...
-
AnalysisHymans Robertson offers staff flexibility in saving
Because employee benefits are at the heart of its business, Hymans Robertson recognises the importance of giving its staff access to workplace savings schemes that will engage them and suit different lifestyle needs.The pensions and benefits consultancy invites all employees to join a group personal pension (GPP) plan and a ...
-
Analysis
Doug Taylor: How to engage staff in saving for retirement
Doug Taylor, financial services chief advocate at Which?, talks to Clare Bettelley, associate editor of Employee Benefits, about how employers can better engage employees to save for their retirement.Taylor explains how employers need to “start from where the individuals are” when encouraging them to save, as well as creating the ...
-
AnalysisKey points to tell staff about annuities
IF YOU READ NOTHING ELSE, READ THIS…Employers should encourage staff to consider their retirement options five to 10 years before their retirement date.By disclosing information about their lifestyle, for example whether they are overweight or a smoker, employees could get a more beneficial annuity rate.Employees should be encouraged to shop ...
-
AnalysisBright future for workplace savings platforms
IF YOU READ NOTHING ELSE, READ THIS…Workplace savings platforms can offer a range of savings products.The platform market is young and providers are at various stages of product development.Employee take-up of fi nancial products via savings platforms remains low.Ask most workplace savings providers and employee benefits consultants about the future ...
-
AnalysisTailor pre-retirement education to employee age groups
IF YOU READ NOTHING ELSE, READ THIS…Different generations in the workplace have different financial pressures and varying levels of financial knowledge.It is important to offer financial education to employees of all ages in order to increase their financial awareness.Targeted pre-retirement planning should start at least 18 months to two years ...
-
AnalysisConsequences of the retail distribution review
IF YOU READ NOTHING ELSE, READ THIS…Commission to advisers selling pension and investment products was banned on 31 December 2012.Employers can still pay for corporate pensions advice out of employees’ contributions through consultancy charging, but only in certain circumstances.Demand for financial advice, education and information is likely to soar as ...
-
Analysis
Benefits help staff to fulfil new year's resolutions
IF YOU READ NOTHING ELSE, READ THIS…Promoting benefits such as discounted gym membership can help employees achieve their resolution goals.Online health assessments can help break down resolutions into manageable aims.Wide-ranging communication strategies will help optimise employee engagement.Most people have given up on their New Year’s resolutions by mid-January. But all ...
-
Analysis
How to prepare staff for the transition to retirement
IF YOU READ NOTHING ELSE, READ THIS….The number of workers over the state pension age is increasing.Early discussions about retirement will enable employees to be better prepared when the time comes.Age discrimination rules mean communicating with staff about retirement must be done with care.Ensuring staff get the right annuity product ...
-
Analysis
BT Group educates staff about retirement options
The desire to educate employees about their retirement options was one of the key drivers behind BT Group’s decision to launch a pre-retirement programme for its older workers three years ago.Dennis Gissing, head of diversity practice at BT, says: “We perceived this to be a gap in what we were ...
-
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 ...
-
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 ...
-
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 ...
-
Analysis
Workplace Savings: Pensions given greater priority by employers
If you read nothing else, read this... Auto-enrolment means all employers will be forced to offer a pension scheme to qualifying employees irrespective of any other benefits offered. More and more employers are segmenting their workforces, offering more generous pension benefits to those that value them. Reward budgets are being ...
-
Analysis
Workplace Savings Industry Forum: Get the value message across
A financial education programme may hold the key to maximising workplace savings opportunities, says Jonathan Watts-LayIn these challenging economic times, with the introduction of new regulations, employers and employees are often overwhelmed. Whether the introduction of auto-enrolment, removal of the default retirement age or options at retirement, the considerations are ...
-
Analysis
Workplace Savings Industry Forum: Get equipped to meet your duties
Choosing the right technology and a suitable partner can ease employers’ burden in complying with auto-enrolment, says Peter GlancyEmployees across the UK are not saving enough for their retirement, with only half the population preparing adequately and one in five doing nothing at all, according to Scottish Widows’ 2011 Pension ...
-
Analysis
Workplace Savings Roundtable: Taking the platform
Employee Benefits and The Platforum assembled a panel of corporate platform providers to discuss developments and prospects for this new benefits delivery medium. Padraig Floyd reportsCorporate platforms enable employers to better manage and communicate their workplace savings benefits to employees. But one size does not fit all. Small employers may ...
-
Analysis
Svitzer gets all pension stakeholders on board
Towage giant Svitzer UK got all stakeholders on board to navigate a new course for its pensions, says Padraig FloydIn 2009, David Noakes faced a difficult decision. As company secretary and pensions manager at maritime towage company Svitzer UK, he had to decide how to take its myriad pension schemes ...
-
Analysis
Workplace Savings: Joined-up thinking needed for workplace savings
If you read nothing else, read this... The workplace offers short-term savings options through SAYE share schemes, long-term savings through a pension and medium-term savings via a workplace Isa. These are simple, cost-effective and appeal to a broad spectrum of employees. They can work well alongside existing benefits. They can ...
-
Analysis
Employee Benefits Workplace Savings Quarterly – April 2012
Download a PDF of the first half of the Employee Benefits Workplace Savings QuarterlyDownload a PDF of the second half of the Employee Benefits Workplace Savings QuarterlyRead articles:NewsViewpoint: Keith Tondeur of Credit ActionViewpoint: Padraig Floyd of Workplace Savings QuarterlyViewpoint: Holly Mackay of The PlatforumCover story: Joint effort required on savingsPensions: ...