All Article articles – Page 645
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ArticleWorkplace pensions will not meet retirement needs
More than three-quarters (76%) of respondents expect their workplace pension scheme to be their main source of retirement income, but 88% do not believe it will meet their needs, according to research by Barclays Corporate and Employer Solutions (C&ES).Its research, which surveyed 360 UK employees enrolled in a workplace defined ...
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Share scheme limit rise divides opinion
The limits on sharesave schemes will double from £250 to £500 a month, while the maximum value of shares an employee can acquire with tax advantages through share incentive plans (Sips) will increase by £300 a year, to £1,800 for partnership shares and £3,600 for free shares.Phil Hall, specialist adviser ...
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Shared parental leave could create issues
Under the new system, eligible working families will have more flexibility around how they can balance work and caring commitments. Parents will be able to be at home together or to work at different times and share the care of their child.The government also announced that the system will include: ...
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The Pensions Regulator publishes DC code
The code, which came into effect on 21 November 2013, sets out how pension trustees can meet the requirements of pensions legislation.It had been the subject of a consultation earlier in 2013.The guidance provides information, education and assistance on good-practice standards of governance and behaviours that relate to delivering good ...
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BA switches DC pension investments
British Airways (BA) has switched the investment options available through its trust-based defined contribution (DC) pension scheme in order to lower pension scheme charges.Under its new arrangement, provided by BlackRock, the annual management charge (AMC) will reduce from 0.23% to 0.15%.Since its auto-enrolment staging date in January 2013, 13,500 of ...
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Finmeccanica has low pensions opt-out post auto-enrolment
Finmeccanica Group has achieved 99.3% pension take up after auto-enrollling employees at its two main UK operations into its trust-based defined contribution (DC) pension scheme.The aerospace and defence manufacturer first automatically-enrolled staff at AgustaWestland, followed by employees at Selex ES.Finmeccanica introduced a bespoke website to guide employees through their auto-enrolment ...
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ArticleLife assurance most popular benefit given to HR professionals
This is in addition to salary, bonuses, pensions, share schemes and company cars.The Employee Benefits Salary survey 2014, which questioned 361 people esponsible for managing benefits and reward in UK organisations, found that life assurance is followed by private medical insurance schemes (59%), subscriptions to professional bodies (47%), employee assistance ...
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Ian Wright: How will the changing state pension age affect employers?
Our employees are fortunate enough to be relatively high earners and most take part in the organisation’s pension scheme. This means that, as they approach their 60s, most should have personal savings, investments and assets, and should have built up a fairly substantial pension fund rather than be reliant on ...
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Simon Nash: How will the changing state pension age affect employers' pension strategies?
On 11 December 2013, the Office for National Statistics released an update to its projected mortality figures, predicting that girls born in 2013 would live to, on average, 94 years of age, with boys still living slightly shorter average lives.What is more, these statistics reveal that more than one-third of ...
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Michelle Cracknell: How will the changing state pension age affect employers' pension strategies?
With all of us living longer, the state pension is no longer affordable on its current terms. For those of us in the industry, the rise in the state pension age was confirmation of the inevitable, but was it expected by the public?The Pensions Advisory Service takes more than 80,000 ...
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David Fairs: How will the changing state pension age affect employers' pension strategies?
Saving longer and retiring later should make for higher pensions. But employees who want to retire earlier than state pension age, or indeed need to retire earlier because they are in a physically demanding job, will face some difficult choices. With the average pension pot of £30,000 currently providing an ...
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Article91% of HR professionals are pension scheme members
The Employee Benefits Salary survey 2014 , which questioned 361 people with responsibility for managing benefits and reward in UK organisations, found that three-quarters (75%) of respondents are active members of a defined contribution (DC) scheme , while just over a quarter (27%) are active members of a defined ...
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Article5% DC pension contribution most common for HR professionals
The Employee Benefits Salary survey 2014 , which questioned 361 people who are responsible for managing benefits and reward in UK organisations, found that 9% pay in 10% or more of salary. Under auto-enrolment legislation, current minimum contribution levels are set at 1% for employees and 1% for employers. But ...
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Article39% of benefits professionals receive car or allowance
The Employee Benefits Salary survey 2014 , which questioned 361 people responsible for managing benefits and reward in UK organisations, found that, of this 39%, more than one-third (38%) receive a company car rather than a car allowance.The average approximate value of company cars for 62% of respondents in ...
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31% of parents are not offered flexible working
Almost a third (31%) of respondents reported their employer does not offer flexible-working arrangements, according to research by charity Working Families.Its Time, health and the family research, which surveyed 1,037 male and female parents in full-time or part-time work and is sponsored by Bright Horizons, found that the education, retail ...
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Article27% of benefits professionals are share scheme members
The Employee Benefits Salary survey 2014 , which questioned 361 people who are responsible for managing benefits and reward in UK organisations, found that the most common type of share scheme is an all-employee sharesave plan (46%), followed by a long-term incentive plan (29%).Just under a quarter (22%) of respondents ...
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ArticleHealth cash plan report 2014
The supplement includes the following articles:Facts and figures on health cash plans Why health cash plans are an integral part of a health and wellbeing strategyCase study: Health cash plan helps Furlong Flooring reduce staff absenceCase study: Health cash plan supports Briggs Equipment’s manual workersViewpoint: Nick Bacon: Health cash plans ...
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ArticleBuyer's guide to employee assistance programmes 2014
The factsWhat are employee assistance programmes (EAP)? EAPs provide confidential information, support and counselling to staff with personal or work-related issues. Support is traditionally offered around the clock by telephone, with a comprehensive service providing face-to-face counselling where necessary. Some schemes will also provide online support.As well as helping to ...
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ArticleBuyer's guide to total reward statements 2014
They can also help to engage employees in their benefits, and educate them about the value of particular perks they receive, such as a company car or pension.No benefit is too small to be included in a TRS, so enhanced maternity or paternity leave and employee assistance programmes could be ...
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Employee Benefits Awards entry deadline extended to 17 January
We will not accept entries past this date, so make sure you don’t miss out.See all the information you need to enter, along with the category details and entry forms.There are no fewer than 22 categories to enter, so there is sure to be one to recognise your hard work.Workplace ...