All Article articles – Page 457
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ArticleGovernment to reduce money purchase annual allowance
Autumn Statement 2016: Chancellor Philip Hammond (pictured) has announced that the money purchase annual allowance is set to be reduced to £4,000 from April 2017.The money purchase annual allowance applies to those who have accessed their pension savings through the pension flexibilities and then make further defined contribution (DC) pension ...
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ArticleNational living wage to rise to £7.50
Autumn statement 2016: Chancellor Philip Hammond has announced that the national living wage will increase to £7.50 an hour from April 2017.The national living wage will increase by 4.2%, taking the current minimum level of pay for individuals aged 25 and over from £7.20 an hour to £7.50 an hour.Other ...
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ArticleTax-free personal allowance to rise in line with inflation
Autumn Statement 2016: From 2020, the tax-free personal allowance will rise in line with the Consumer Price Index rather than the national minimum wage.During his Autumn Statement speech, Chancellor Philip Hammond confirmed that the tax-free personal allowance will increase to £11,500 in April 2017 and £12,500 by the end of ...
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ArticleGender pay gap in high-tech sector is 25%
There is a 25% gender pay gap in the UK’s high-tech sector, according to research by Mercer.Its study, which is based on an analysis of 66,000 employees across 153 organisations using data from its Comptryx database, also found that small organisations within the high-tech sector have the largest gender pay ...
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ArticleNokia and Rio Tinto are recognised for employee share schemes
Henderson Global Investors, Nokia, and Rio Tinto were among the organisations recognised for best practice in employee share schemes at the Esop Centre's Employee Share Ownership Awards 2016 on Tuesday 22 November 2016.Nokia won the award for best international all-employee share plan for its share scheme that operates across 46 ...
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Article22% see an increase in the use of employee assistance programmes
More than a fifth (22%) of HR manager respondents report an increase in the use of employee assistance programmes (EAPs) by employees, according to research by Lancaster University's The Work Foundation and the UK Employee Assistance Professionals Association (UK EAPA).The evolution of employee assistance: investigating the use, impact and reach ...
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ArticleKeep up to date with the Autumn Statement 2016
Chancellor Philip Hammond will deliver his Autumn Statement 2016 speech from 12.30pm today (23 November 2016).Stay tuned to the Employee Benefits website for all the latest updates on how the Autumn Statement could impact employers and staff, with potential changes around salary sacrifice arrangements, pensions, and the national living wage.Follow ...
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ArticleG4S staff to strike over pay dispute
G4S Patient Transport employees began a three-day strike today (Tuesday 22 November 2016) in an ongoing dispute over pay and conditions.The employees, who are members of the GMB union based at St George’s Hospital in Tooting, London, will strike until Thursday 24 November 2016, over their pay and conditions.The three-day ...
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ArticlePackaging workers to strike over pay
Corrugated packaging employees are to take industrial action in a dispute over pay.Staff based at packaging factories operated by DS Smith, Saica and Smurfit Kappa have voted to reject a proposed 2% pay rise. Industrial action was approved by members via a ballot vote.Around 2,500 members of the GMB and ...
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ArticleBenchmark your pay and benefits package
How does your salary stack up against your peers'? And how does your total remuneration package compare to other reward and benefits professionals?Take part in the exclusive Employee Benefits salary survey for the chance to benchmark your own benefits and compensation offering.We are particularly interested in finding out how salary ...
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Article53% believe employers that offer dental insurance care more about staff wellbeing
More than half (53%) of respondents believe that an organisation that offers dental insurance as an employee benefit cares more about its employees’ wellbeing than an organisation that does not offer this, according to research by Unum Dental.Its survey of 1,000 full-time employees also found that 48% of respondents under ...
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ArticleMinnesota introduces six weeks of paid parental leave for state employees
The Minnesota governing administration has introduced up to six weeks of paid parental leave for its 32,000 state employees.Previously, state employees had to use accrued sick leave or purchase short-term disability insurance coverage to take paid time off following the birth or adoption of a child.The policy aims to help ...
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Article65% do not feel they understand how workplace pensions are taxed
Almost two thirds (65%) of respondents do not feel they have a good understanding of how workplace pensions are taxed, according to research by PricewaterhouseCoopers (PWC).Its survey of 2,000 UK adults also found that three quarters (75%) of respondents do not understand how the lifetime individual savings account (Lisa) will ...
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ArticleAuto-enrolment increases pension saving by £2.5bn
Pension saving has increased by £2.5 billion a year by April 2015 as a result of auto-enrolment, according to research by the Institute for Fiscal Studies (IFS).Its study, which analysed data from around 500,000 jobs between April 2011 and April 2015, also found that auto-enrolment has increased pension participation among ...
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ArticleBupa to acquire Oasis Dental Care
Healthcare organisation Bupa is to acquire private dental care organisation Oasis Dental Care.Bupa will acquire Oasis Dental Care from Bridgepoint, a European private equity group, in a £835 million transaction.The acquisition forms part of Bupa's strategy to offer high quality dental services. Following the transaction, Bupa will have a network ...
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ArticleCostco and Sainsbury’s are recognised for payroll giving schemes
Arriva London, Costco and Sainsbury’s were among the organisations recognised for best practice around payroll giving schemes at the National Payroll Giving Excellence Awards 2016 on Wednesday 16 November 2016.The awards are designed to reward innovation and promotional excellence, and recognise an organisation’s sustained effort to grow payroll giving schemes.Payroll ...
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Article58% do not know how much their employer contributes to their pension
More than half (58%) of respondents do not know how much their employer contributes to their workplace pension, according to research by Just Retirement.Its survey of 3,208 employees over the age of 21 also found that 43% of respondents would struggle to identify how much they contribute to their workplace ...
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ArticleCommuters enjoy a surprise vintage train journey
Something for the weekend: Common sights when travelling into work usually include sardine-packed train carriages, with rushed and flustered commuters generally sporting disgruntled expressions. However, this morning (Thursday 17 November 2016), luxury travel organisation Belmond decided to surprise harried employees by taking them to work on the antique day train, ...
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ArticleTop 10 most read stories this week
The top 10 most read stories on www.employeebenefits.co.uk between 10 and 16 November 2016 were: Ryanair advertises for worst job in IrelandRolls-Royce completes £1.1bn pension buyoutArthur J Gallagher acquires ArgentisAston Martin to increase pay for UK staff by 3%EXCLUSIVE: 33% do not plan to offer a workplace lifetime Isa76% rank ...
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ArticlePicturehouse cinema staff strike in campaign for London living wage
Picturehouse cinema staff based at London venues the Ritzy in Brixton and the Hackney Picturehouse will begin strike action today (Thursday 17 November 2016) in a campaign to receive the independent London living wage.Employees, who are members of the Bectu trade union, are campaigning for their base pay to be ...