All Article articles – Page 651
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56% have more than one pension pot
More than half (56%) of respondents have more than one pension pot, according to research by Now: Pensions.Its research, which surveyed 2,000 UK adults who have a workplace pension, found that 8% of respondents have four or more pension pots, a figure that rose to 25% for respondents aged over ...
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Scottish DB pension deficits double to £6bn
Defined benefit (DB) pension scheme deficits across Scotland have almost doubled over the past 12 months, from £3.2 billion to £6 billion, according to research by pensions and risk consultancy Hymans Robertson.The Hymans Robertson Scottish pension index, which analysed 27 schemes, found that 18 of these schemes were worse off ...
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Gain recognition for your travel policy or global benefits
These could include environmentally-friendly travel practices, tax- or cost-cutting initiatives, new technology that communicates with drivers more effectively, the introduction of a driver training programme or staff travel policies that reduce the need for employees to drive.Meanwhile, the category ‘Best international or expatriate benefits’, which has also been renamed for ...
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JLT Group appoints Eleanor Smith
JLT Group has appointed Eleanor Smith UK compensation and benefits manager.Her previous roles in the industry include reward manager at Laing O’Rourke, global reward and mobility manager at Linklaters, associate director, global rewards at Covance, head of reward and people systems at Sainsbury’s, head of reward at Boots, reward and ...
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Telefonica UK promotes Ian Grimshaw
He had been European benefits manager for Telefonica Europe since 2011.Before that, he was reward manager – benefits at Telefonica O2.His previous roles in the industry include benefits manager at Bank of America and employee benefits manager at MBNA Europe Bank.
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Royal Mail reaches agreement on pay and pensions
Royal Mail Group has reached an agreement on pay and pensions, averting the threat of strike action over the Christmas period.Details of the agreement, which is subject to approval by the Royal Mail board, will be made available following the conclusion of the meeting of the Communication Workers Union’s (CWU) ...
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85% making changes to benefits provision
The majority (85%) of respondents have either recently made changes to their organisation’s benefits provision or are due to do so over the next year, according to research by Quintige Consulting Group (QCG).Its Employee benefits survey, which questioned 54 employers, found that these changes are being driven by organisations looking ...
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ArticleEmployees prefer cash instead of a Christmas party
More than two-thirds (71%) of respondents would rather receive the cash their employer spends per head than a Christmas party, according to research by MetLife UK.Its research, which surveyed more than 2,000 UK adults, found that 59% of respondents are going to a Christmas party hosted by their employer this ...
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'Tis the season to be jolly
Something for the weekend…After The Employee Benefits team attended Wednesday night’s Centaur Awards and Christmas party, reporting on the Autumn Statement the morning after was not an easy ride, but neither, it seems, are party preparations for other employees during the festive season.A poll carried out by fashion retailer, Coast, ...
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Top 10 most read stories this week
The top 10 most read articles on employeebenefits.co.uk from 28 November to 5 December:1. HMRC changes company car advisory fuel rates2. Lloyds Register centralises global mobility services 3. TPR launches consultation on defined benefit pensions 4. Key healthcare benefits for an ageing workforce 5. B&Q staff to share £15m share ...
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Rise in state pension age brought forward
Autumn Statement 2013: The government has brought forward the increase in the state pension age, to 68 by the mid-2030s and to 69 by the late-2040s.The government had already taken action to control pension expenditure over the medium term by bringing forward the rise in the state pension age to ...
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OTS to implement nine quick wins on employee benefits
Autumn Statement 2013: The Office for Tax Simplification (OTS) is to implement nine ‘quick wins’ identified in its interim report on employee benefits and expenses, by the end of January 2014.Its plans were announced in the 2013 Autumn Statement on 5 December.The OTS is due to publish details of these ...
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Government to extend tax exemption on employer-paid healthcare
Autumn Statement 2013: The Autumn Statement 2013 has confirmed the government is to introduce a tax exemption on amounts of up to £500 paid by employers for medical treatment for employees. This was first announced in the Budget 2013,In response to a consultation into how to implement the tax relief, ...
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Tax exemption on bonuses under employee ownership
Autumn Statement 2013: The government is to provide an annual exemption from income tax on bonuses or equivalent payments on amounts up to £3,600 paid to employees of organisations that are indirectly employee-owned.This is part of a package of measures for the government to provide an additional £25 million to ...
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Government to pilot public sector pay cost control
Autumn Statement 2013: Chancellor George Osborne has announced that the government will pilot a pay bill control to tackle public sector pay costs.This will replace the 1% cap on pay awards for a small number of government organisations that will take part in the pilot from 2014.The pay bill control, ...
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Basic state pension to increase by £2.95 a week
Autumn Statement 2013: The basic state pension will increase by £2.95 per week from April 2014, as announced by Chancellor George Osborne (pictured) in the Autumn Statement 2013.The increase is in line with the triple lock, which means that the full basic state pension in 2014/15 will be around £8.50 ...
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Employer NICs for under-21s to be abolished
Autumn Statement 2013: The government is to abolish employer national insurance contributions (NICs) for under-21s earning under £813 a week.From 6 April 2015, employers will no longer be required to pay the contributions.Chancellor George Osborne announced in the Autumn Statement that the reform will make it cheaper for organisations to ...
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United Response sees 3.6% auto-enrolment opt out
EXCLUSIVE: Charity care provider United Response has seen opt-out rates of 3.6% following the implementation of auto-enrolment.Only 52 of the 1,451 employees who were auto-enrolled on 1 October 2013 opted out of its stakeholder pension scheme, which is provided by Friends Life.The organisation now has 2,618 of its 3,500 employees ...
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Third of small employers worried about auto-enrolment
Two out of five (39%) of small employers are worried about the ‘damaging’ impacts of auto-enrolment, according to research by payroll software provider Sage UKI.The research, which surveyed 500 small employers, found that 40% of respondents are worried about the administrative costs of setting up and managing auto-enrolment, while 51% ...
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Denplan enhances product range
Denplan has enhanced the benefit limits across its Lucent product range.It will now also cover dental implants as standard and has added two new levels of cover.Other changes include:Increased cover for mouth cancer of up to £20,000.Increased hospital cash benefits.Increased cover for call-out fees.Unlimited cover for telephone consultations.Pam Whelan, head ...