All Article articles – Page 650
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Article
Reeves and Co uses flex to manage acquisition
Reeves and Co is using its flexible benefits scheme to manage the transfer of employees after a merger with accountancy firm CLB Gatwick on 2 December.CLB Gatwick staff are to join the accountancy firm under a Transfer of Undertakings (Protection of Employment) (Tupe) arrangement.The new employees will be able to ...
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Showcase benefits through the Employee Benefits Awards
Lindsey Christie, benefits administrator at Admiral Group, explains what it means to be recognised with an Employee Benefits award.The organisation was awarded ‘Best pensions communications’ at the Employee Benefits Awards 2013.1. What has winning an Employee Benefits’ award meant to you? Richard [Thorne, HR department manager] and I are extremely ...
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Healthy Performance launches online health tool
EXCLUSIVE: Healthy Performance has launched an online health assessment tool for employers and employees.The tool provides employers with a live dashboard where they can see anonymous, real-time data as employees complete their health assessments.Employers are then provided with an overall wellbeing score and a health risk score for their workforce, ...
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ArticleUK staff among the lowest paid in Europe
UK employees are the lowest paid across most job levels compared to other European countries, according to research by Towers Watson.Its Global 50 remuneration planning report found that base salaries for entry-level professionals and experienced administration staff are particularly low in the UK, ranked 15 out of the top 16 ...
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Older staff healthier and fitter than younger colleagues
Many employees in their 60s are healthier and fitter than colleagues in their 30s, according to research by Pruhealth and Mercer.Britain’s healthiest company report, which surveyed nearly 10,000 UK employees, found that the average Vitality Age (or health age) of respondents in their 60s is 3.9 years older than their ...
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Regulator launches public sector pensions consultation
The Pensions Regulator (TPR) has published a consultation on a draft code of practice to help public service pension schemes meet governance and administration requirements set out in legislation.The Regulating public service pension schemes: our approach to enabling high standards of governance and administration consultation will run until 17 February ...
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BA takes legal action against pension trustees
British Airways has launched legal action against its pension trustees to try to prevent it from increasing the amount the airline has to pay into its defined benefit (DB) pension scheme.The British Airways Pension Scheme (APS) had its annual increases to payments changed in 2011 from being linked to the ...
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Helen Forrest: Will the government's proposed 0.75% pension charges cap be enough?
Pensions can be complex, so it is important that members can be confident that their pension offers value for money. That is why the National Association of Pension Funds (NAPF) has been working to promote an industry benchmark for good quality pensions through our Pensions Quality Mark standard.Charges have been ...
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How the Autumn Statement will impact employee benefits
Chancellor George Osborne (pictured) presented the Autumn Statement on 5 December.Here is how it will impact employee benefits:Share scheme limits to increaseRise in state pension age brought forwardOTS to implement nine quick wins on employee benefitsGovernment to extend tax exemption on employer-paid healthcareFuel duty increase cancelledTax exemption on bonuses under ...
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Article
HMRC wins income tax avoidance case
HM Revenue and Customs (HMRC) has won a tax tribunal ruling in an income tax avoidance scheme, which is expected to protect up to £400 million in tax that would otherwise not have been paid.The scheme was marketed by Consulting Overseas Limited to independent contractors as a remuneration package that ...
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Article
HMRC launches 31% more probes into tax and NI evasion
This number has increased by 31% since last year, up from 1,599 to 2,009 employers.The use of real-time information (RTI) reporting is thought to have helped HMRC launch more investigations into irregularities.Under RTI, which was introduced between April and October this year, HMRC receives monthly updates on employees’ pay and ...
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Royal Mail reaches pay settlement
Royal Mail Group has reached a pay agreement with the Communication Workers Union (CWU), which covers nearly 140,000 employees.The pay agreement includes:Pay increases over three years: 3% in the financial year 2013/14 backdated to April 2013, 3% in the financial year 2014/15 and 2.8% (subject to review if inflation is ...
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Department of Health consults on pensions
The Department of Health has launched a consultation on proposed changes to the NHS Pension Scheme.These proposals include:Increases to employee pension contributions. The NHS is moving in to the final year of the three-year increases to employee contributions. The consultation outlines the proposed increases for 2014/15, which will come in ...
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Cost and administration main auto-enrolment concerns
The ease and cost of auto-enrolment administration and the cost of minimum contributions are the top business priorities around auto-enrolment, according to research by the Confederation of British Industry (CBI) and Standard Life.A view from the top survey, which questioned 226 chief executives and board members in organisations, found that ...
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Annuity market does not work for retirees
The annuity market does not work well for the majority of retirees according to the findings of research into the consumer experience of purchasing an annuity, published by the Financial Services Consumer Panel.In its report, the panel recommends urgent regulatory and government-led structural reform in order to prevent millions of ...
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Auto-enrolment opt outs are less than 10%
Auto-enrolment opt-out levels are less than 10%, according to research by the Chartered Institute of Personnel and Development (CIPD).Its Pensions automatic-enrolment: the lessons for small and medium-sized employers research, which surveyed 399 private sector organisations, also found that the average contributions from employees and employers stand at 4% and 6% ...
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HMRC extends RTI deadline for micro employers
HM Revenue and Customs (HMRC) has extended the time micro employers are allowed to report pay-as-you-earn (PAYE) in real-time.Organisations with nine or fewer employees will be allowed to report PAYE information on or before the last payday of the month, rather than every payday until April 2016, to help them ...
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Goodman Masson hosts winter wellbeing week
EXCLUSIVE: Goodman Masson has hosted its third annual Winter Wellbeing Week for staff.The event, which was held the week of 11 November, supports the financial recruitment firm’s internal brand, ‘There’s more to life than work’.Guy Hayward, chief executive at Goodman Masson, said: “It is communicated in the build-up to the ...
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Qantas to freeze pay and bonuses for executives
Qantas Group is to implement a pay freeze and remove bonuses for its executives in 2014 in a bid to accelerate cost reductions across all areas of the business.Its chief executive officer (CEO) and board will also experience a pay cut.The Australian airline group expects to report an underlying loss ...
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ArticleDisengaged employees and poor health costs UK £6bn
Employees with poor health and a lack of motivation cost the UK £6 billion last year, according to research by Bupa and the Centre for Economics and Business Research.Its study of 5,000 workers found that more than a third (37%) of teams are experiencing stress and pressure because of ill ...