All Article articles – Page 458
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Article65% of employees view financial wellness in the workplace as important
Almost two thirds (65%) of employee respondents cite financial wellness in the workplace as important to them, according to research by Thomsons Online Benefits.Its Future of financial wellness report, which surveyed 200 HR and reward professionals and 500 employees in the UK, also found that less than one in 10 ...
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Article53% of under 35s place flexible working in their top three benefits
More than half (53%) of respondents under the age of 35 cite flexible working as one of the top three most attractive benefits when applying for a new job, according to research by Fidelity International.Its survey of 1,230 UK employees also found that 53% of all respondents list annual leave ...
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ArticleEarly exit charges to be capped at 1% for existing pension schemes
Early exit charges for existing pension schemes are to be capped at 1% from 2017.The cap aims to ensure that individuals over the age of 55 who wish to take advantage of the pension freedoms are not unfairly penalised for accessing their savings early.The Department for Work and Pensions (DWP) ...
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ArticleTotal pay increases by 2.3%, according to ONS
Total pay, including bonuses, increased by 2.3% for employees in Great Britain between July-September 2015 and July-September 2016, according to the Office for National Statistics (ONS).Its UK labour market: November 2016 report also found that average regular pay, excluding bonuses and before tax and other deductions, was £475 a week ...
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ArticleWhat is the future for pensions technology?
Need to knowThe introduction of the pension freedoms intensified the need for online pension tools.New pensions technology will be more interactive, allowing employees to make immediate changes to their pension plan.The growth of defined contribution assets will help drive product innovation.Pensions technology was thrust into the limelight following the announcement ...
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ArticleBasic pay for engineers increases by 2%
Basic median pay for professional engineers has increased by 2% year on year, according to research by the manufacturers' organisation, EEF.Its Professionals pay benchmark report, which surveyed 241 UK organisations to collect salary data for 5,986 managers and engineers, also found that average pay for engineering graduates has increased by ...
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P9: Close Brothers Industry Insight: Five ways to navigate financial education and financial wellbeing
With a growing interest in financial wellbeing and financial education, more providers are entering this market and others are now using it as a wraparound descriptor for their services. But with increased choice there can be confusion, so here are five ways to navigate the market noise.Address the biggest risk ...
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2: Sponsor's Comment: A simple measure of the value of financial education
I’m often asked two questions when discussing the need for a financial education programme: ‘We already have a lot of information on our website and in our pension communications, why isn’t that enough?’ and ‘What kind of value will you add for employees and employers if you deliver financial education?’These ...
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Article31% cite financial issues as the top cause of stress
Just under a third (31%) of employee respondents cite finances and money as the top cause of stress, according to research by BHSF Employee Benefits.Its Breaking the cycle report, which surveyed 1,000 full-time and part-time UK employees, also found that 63% of respondents are kept awake at night and are ...
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ArticleRolls-Royce completes £1.1bn pension buyout
Rolls-Royce has completed a £1.1 billion pension buyout for its Vickers Group pension scheme.The £1.1bn buyout transaction with Legal and General covers more than 11,000 members of the pension scheme, which is part of the Rolls-Royce Group. Rolls-Royce acquired engineering organisation Vickers in 1999.The buyout forms part of the pension ...
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Article33% view the availability of childcare as a key recruitment and retention issue
A third (33%) of employer respondents believe the availability of childcare is a key issue in recruiting and retaining staff, according to research by the British Chambers of Commerce (BCC) and Middlesex University.The study, which surveyed 1,627 business leaders in the UK, also found that around one in 10 (9%) ...
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ArticleJeanette Makings: The continuing importance of pensions
Pensions are not the whole story of the UK’s workplace benefits offering, but they are still a major player. Half of respondents have more than 90% of their workforce as active members of their primary pension scheme. And with 68% of organisations contributing 3% or more and 26% contributing between ...
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ArticleEXCLUSIVE: 33% do not plan to offer a workplace lifetime Isa
EXCLUSIVE: A third (33%) of employer respondents do not plan to introduce the lifetime individual savings account (Lisa) as a workplace savings tool, according to research by Employee Benefits and Close Brothers.The Employee Benefits/Close Brothers Pensions research 2016, which surveyed 250 employer respondents, found that just 7% plan to offer ...
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Article52% would contribute more than 5% of their salary into their workplace pension
Just over half (52%) of employee respondents who are currently saving into a workplace pension would be willing to contribute more than 5% of their salary themselves, according to research by Aviva.Its research, which is based on surveys of 2,000 UK adults who currently pay into a workplace pension, 277 ...
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Article76% rank flexible working in their top three benefits
More than three quarters (76%) of respondents name flexible working as one of their top three priorities when it comes to being offered a benefits package from their ideal employer, according to research by BT.Its Mobile multiplier report, which surveyed 1,528 office employees across France, Germany, Spain and the UK, ...
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ArticleShowcase best practice at the Employee Benefits Awards 2017
Showcase best practice in reward and benefits by entering the Employee Benefits Awards 2017.There are 23 categories to enter, ranging from most engaging benefits proposition to best mental health strategy, and everything in between.Enter by Friday 9 December 2016 for your chance to win.The categories for the Employee Benefits Awards ...
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ArticleHow to maximise the value of rehabilitation support
Need to knowInsurers are keen to provide rehabilitation support as early as possible because this can reduce absence and improve the outcome for the employee.Robust absence procedures will ensure that cases suitable for rehabilitation are identified as early as possible.Communication is essential to enable early intervention and maximise the value ...
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ArticleAston Martin to increase pay for UK staff by 3%
Luxury car manufacturer Aston Martin is to increase pay for UK staff by 3% in 2017 and 2018.The increases form part of the organisation's 2016 settlement and two-year pay deal, which will see pay rates rise by 3% from 1 January 2017. From 1 January 2018 there will be an ...
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Article66% would take a pay cut to be happier at work
Two thirds (66%) of respondents would take a pay cut of at least 1% to be happier at work, according to research by Hired.Its Perceptions of mobility and the job search report, which surveyed 2,557 full-time employees over the age of 18 in the US, UK and Australia, also found ...
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ArticleOffering pensions education and guidance provides benefits for employers and staff
Investing in pensions education and guidance provides benefits for employers and employeesOver the past few years, the pace of change in the pensions industry has posed a number of challenges for employers. Not only has it required organisations to review and adapt their pensions provision, they have often had to ...