All Article articles – Page 543
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Article
Compliance developments impacting benefits in June
The Employment Appeal Tribunal (EAT) has returned a case to a tribunal for a re-hearing to consider whether redundancy dismissal, where the timing meant an employer avoided significant pension costs, could amount to age discrimination.Compensation received by an employee to settle a discrimination claim is not taxable as earnings, a ...
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ArticleTop 15 most visited stories online in June
1. Virgin Management offers a year’s parental leave on full pay2. Queen’s Speech confirms legislation on tax and NI3. British Gas appeals holiday pay decision4. Government to press ahead with pensions agenda5. DLA Piper increases maternity benefits6. Simplyhealth sells PMI business to Axa PPP Healthcare7. Willis Employee Benefits partners Benefex8. ...
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ArticleRetirement income a priority for half of retirees
Almost half (47%) of adults feel that securing a guaranteed retirement income is a priority when covering essential expenses, according to a study from asset management firm Fidelity Worldwide Investment.The study, which surveyed 1,014 UK adults over the age of 55, also found that just 39% plan to purchase an ...
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ArticleOracle revamps financial education programme
EXCLUSIVE: Oracle has revamped its financial education programme for its 5,800 UK employees.The technology firm opted to revamp its financial education programme and introduce pensions advice to counteract the challenges surrounding the ageing workforce.To highlight the importance of the programme, which is provided by Secondsight, Oracle introduced a strategic email ...
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ArticleVehicle excise duty to be reformed
Summer Budget 2015: Chancellor George Osborne has announced that vehicle excise duty (VED) will be reformed in his Summer Budget 2015.The changes will affect new cars registered from 1 April 2017. There will be no changes to VED for existing cars.First-year rates will depend on the car’s carbon dioxide emissions, ...
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ArticleCourt rules on voluntary overtime in holiday pay
A tribunal in Northern Ireland rejected a council engineer’s claim of unlawful deductions from wages, and concluded that voluntary overtime should not be included in holiday pay.In the case of Patterson v Castlereagh Borough Council, Mr Patterson brought the claim forward on the basis that the calculation of his holiday ...
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Article
Pension freedom charges differ vastly
The difference in charges between the cheapest and most expensive companies offering income drawdown under the pension freedoms could total £3,000 over 10 years, according to research by Which?Its analysis of eight insurance companies and ten investment brokers offering full pension freedom found that an individual with a pension pot ...
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ArticleChancellor confirms fuel duty freeze
Summer Budget 2015: The government has once again confirmed that fuel duty will continue to remain frozen in today’s (8 July) Summer Budget 2015. Chancellor George Osborne originally cancelled the fuel duty increase planned for September in his 2014 Budget.Overall, action on fuel duty since 2011 will save a company ...
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ArticleCarlsberg UK introduces financial education
EXCLUSIVE: Carlsberg UK has introduced a financial education and wellness programme for its 900 employees in an attempt to develop their overall wellbeing.The brewing firm already has an employee wellness programme in place, which includes health checks and assessments and health insurance. It has now added financial education to complete ...
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ArticleBritish Sugar introduces holiday trading
EXCLUSIVE: British Sugar has introduced holiday trading to its flexible benefits offering and is launching a salary sacrifice company car scheme this month (July 2015).The food manufacturer has seen take up of holiday trading reach 10% of its 1,250 workforce since its launch.It has also made a straight saving of ...
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ArticlePrice Bailey awards staff free shares
Accountancy firm Price Bailey is to award its 300 employees with 2,500 shares each in the organisation. All employees that have worked at Price Bailey for more than a year will be eligible for the scheme, irrespective of their grade. They will receive shares valued at around £250.The value of ...
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ArticleCentrica awarded for carer support
Centrica and Unilever were among the winners of Business in the Community’s 2015 Responsible Business Gala Awards.Unilever picked up the Bupa Employee Wellbeing Award in recognition of its approach to mental health and the support it provides to its staff. The organisation has established a comprehensive mental wellbeing programme, which ...
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ArticleBritish Army to offer flexible-working arrangements
The British Army is to offer troops the option of flexible working from 3 September in a bid to double its female workforce.The head of the army, General Sir Nicholas Carter, will also offer its 82,000 troops the opportunity to job share, share parental leave with a partner, or work ...
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ArticleAPL Logistics appoints Ramzan
Shabnam Ramzan has joined APL Logistics as Europe, Middle East and Africa (EMEA) Reward and HR Projects Specialist. She took up the role in October 2016.Previously, Ramzan has worked as compensation and benefits specialist at Hannover Ruck, benefits analyst at Maximus UK and compensation and benefits analyst at Invesco.
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ArticlePostcode Anywhere becomes employee owned
EXCLUSIVE: Postcode Anywhere has launched an employee ownership trust.The Worcester-based software business is now 100% owned by its employees following its two founders, Jamie Turner and Guy Mucklow (both pictured) implementing an enterprise management incentive scheme (EMI) to give all Postcode Anywhere employees the opportunity to own a share of ...
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ArticleAgilisys launches employee ownership trust
IT and business services firm Agilisys has launched an employee ownership trust. Through the trust, Agilisys’ 1,800 staff now own a majority shareholding (50%) in the firm.The move forms part of Agilisys’ plans to evolve the business.Employees in an employee-ownership trust organisation can receive income tax free bonuses of up ...
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ArticleHow the Budget affects employee benefits
Chancellor George Osborne, announced the Summer Budget yesterday (8 July).Below is a summary of all the key announcements impacting employee benefits:The government is to consult on a reformation of pensions tax relief by publishing a green paper shortly, setting out the various options. These choices range from fundamental reforms, for ...
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ArticleMore staff are seeking pensions advice from employers
Over a third (37%) of employers believe that the pension freedoms have encouraged them to play a greater role in financially educating their employees.The study from Close Brothers Asset Management, which surveyed 685 employers, also found that 33% of respondents have seen an increase in staff seeking advice on their ...
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ArticleGovernment to actively monitor salary sacrifice
Summer Budget 2015: No immediate changes to salary sacrifice schemes were announced by Chancellor George Osborne during his Budget speech yesterday (8 July).However, in the Budget documents it is noted that the government will actively monitor salary sacrifice schemes and their impact on tax receipts.The documents state: ‘Salary sacrifice arrangements ...
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ArticleAxa gains approval for Simplyhealth acquisition
The UK Competition and Markets Authority (CMA) has granted approval for Axa UK’s acquisition of Simplyhealth’s private medical insurance (PMI) business.The transaction, which was first announced in May 2015, is aimed at strengthening Axa’s presence in the UK healthcare market.Following the sale of its PMI business, Simplyhealth will continue to ...