All Article articles – Page 745
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Buyer's guide to employee assistance programmes
Employee assistance programmes (EAPs) are a great way for employers to support staff, particularly during an economic downturn. They provide independent and anonymous telephone, online and face-to-face counselling for employees with psychological issues or debt and financial problems, as well as those requiring child, eldercare and legal information and guidance.Debt ...
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Cigna extends medical plan range
Cigna UK Healthcare Benefits has launched an extended medical plan range called HealthCare Choices.Its range now includes a condition-specific plan, Essential Health, which is designed for employers looking to deal with absence or productivity concerns, and the Your Health plan that allows employers to balance reward strategy with budget control ...
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Labour plans pension cap to fund jobs
Labour has proposed to cap pensions tax relief at 20% for those earning over £150,000 a year in order to fund a job guarantee programme for the unemployed.Ed Balls, Labour shadow chancellor, outlined the party’s plans in an article for PoliticsHome. These are aimed at guaranteeing a minimum wage job ...
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Chinese military curbs indulgence
Something for the weekend…At a time when money is tight, some employers will be looking at their employee benefits as a possible area where they could save money. It would seem the Chinese military is no different.The Central Military Commission (CMC) in China has published a list of regulations for ...
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DOD’s blog: my week in benefits
The Employee Benefits team was back in the office in force this week, although to be honest we have been more fuzzy than fizzing at this early stage of the year.The same can be said for the news stories that have popped up in our inboxes so far.However, one from ...
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Millions of workers do not receive benefits
Nearly 30% of the UK workforce does not receive any employee benefits, according to research by Canada Life Group.It found that nine million workers are not given any benefits by their employers. Women (32%) are more likely not to receive any benefits, compared to 27% of men.The research also found ...
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David Russell: Has the death knell sounded for company cars?
Of our employees in the UK who are entitled to this choice of benefit, 50% have opted for a company car, and the other half have opted for a cash allowance.Although legislation has made company cars less tax-efficient for employees, many senior executives still prefer to have the traditional advantages ...
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John Lewis: Has the death knell sounded for the company car?
You only have to look at the new car registration figures from the Society of Motor Manufacturers and Traders to see that the number of cars sold to organisations has increased over the past three years and looks set to carry on rising as the economy pulls out of recession.However, ...
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Peter Cooke: Has the death knell sounded for the company car?
Remember the historic reasons for having a company car? ‘Cost-effective’, ‘released personal capital’, ‘status symbol’, ‘sign of corporate esteem’ and ‘a better car than you would buy yourself’.Later chancellors saw the company car as a cash cow and a relatively easy tax to collect, so the pressures built, and environmental ...
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Buyer's guide to total reward statements
Total reward statements (TRSs) are a simple and effective way to help staff understand the value of their employment package. But research conducted by the Chartered Institute of Personnel and Development (CIPD) shows a significant number of employers do not use them.The CIPD/Benefex Reward management survey 2012, published last May, ...
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National Air Traffic Services car scheme targets low emissions
Ian Jopson, head of environment for the air traffic management organisation, says: “Economic conditions are difficult across all industries today, but our focus remains on finding innovative solutions to support our staff in driving down our carbon footprint.”The scheme, provided by Zenith, caps vehicle emissions at 120g/km, which increases the ...
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Report published on workplace savings platform selection
Administration, risk control and competitive fees are the three key critical considerations for defined contribution (DC) pension schemes when selecting a platform provider in the UK, according to research by BNY Mellon.Its report, The future of UK DC pension platforms, published in association with Cerulli Associates, surveyed 54 UK pension ...
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In-house fleet manager roles down by half
Only 37% of fleets were run by a fleet manager in 2012, down from 66% in 2011, according to research by Alphabet.The Alphabet Fleet management report 2012, which surveyed 250 fleet managers, found that only 4% of respondents involve the HR department in the fleet decision-making process.It also found that ...
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OFT launches DC pensions market study
The Office of Fair Trading (OFT) has launched a market study of defined contribution (DC) workplace pension schemes.The study aims to examine whether schemes are set up to provide the best value for money for employees.It will look at:How pension providers compete and how the market develops.Whether there is enough ...
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FirstGroup uses target date funds for DC plan
FirstGroup is using target-date funds as the default option for its trust-based defined contribution (DC) pension scheme, which will be used to auto-enrol 12,000 employees on 1 April 2013.Speaking at the Employee Benefits Pensions and Workplace Savings Summit on 31 January, John Chilman, group rewards and pensions director at FirstGroup, ...
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Motiva Group pilots fleet costs projects
Motiva Group is running a series of pilot projects with its existing employer clients to encourage organisations to look at the whole-life costs of their fleets rather than at monthly bills.The fleet management firm has invested in accountancy firm Deloitte’s fleet and car tax analysis system, which allows almost every ...
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Employers to reduce DC contributions
Nearly one in three respondents have considered reducing contribution levels to defined contribution (DC) pension schemes that are used for auto-enrolment, according to research by Aon Hewitt.Its survey found that more respondents are considering lowering contribution levels for non-pension scheme members than in 2011, when one in seven were considering ...
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Pension contributions are flatlining
The average combined pension contributions by employers and employees to small organisations’ defined contribution (DC) pension schemes have remained the same since 2010, according to research by the Association of Consulting Actuaries.The ACA 2012 smaller firms’ pension survey found that combined contributions into trust-based schemes have remained static at 9% ...
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Regulator consults on DC pensions
The Pensions Regulator (TPR) has opened a consultation on a regulatory framework that will ensure employees in defined contribution (DC) pension schemes get the best return on savings.Its Regulating work-based defined contribution pension schemes consultation sets out six principles and 31 quality features that occupational DC trust-based pension schemes should ...
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Jelf launches retirement coaching service
Jelf Employee Benefits has launched a retirement coaching service.The service includes coaching for employees on how to make fact-based decisions about retirement and consider financial decisions. It will also cover lifestyle planning issues, such as fitness and diet, as well as managing time and maintaining friendships in retirement.The service is ...