All Article articles – Page 756
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Master Trust Association launched
A Master Trust Association (MTA) has been launched in an effort to provide best practice, awareness and standards of governance for the master trust community.The association has set out its aims, which include improving and maintaining standards, providing a unified voice for master trust providers, promoting the benefits of master ...
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A Dutch treat for cyclists
After Bradley Wiggens’ cycling accident this week, cyclists may be more than usually aware of dangers on the road.Employees cycling to work could look with envy across the channel to their Dutch counterparts who may be in line to benefit from heated cycle lanes in winter.A recent report by the ...
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PSA Peugeot Citröen launches benefits portal
PSA Peugeot Citröen (PSA) has launched an online benefits portal for its 3,500 UK employees.The platform, Pretium, which is Latin for reward, includes the strapline ‘Discover your benefits’. It provides a central hub for the information about the benefits on offer.The portal and its communications were developed with Shilling Communication.Stephanie ...
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Johnson Fleming expands auto-enrolment offering
Johnson Fleming has partnered with the national employment savings trust (Nest), Now: Pensions and The People’s Pension to offer a two-tier auto-enrolment option for employers.The agreement enables employers that require a two-tier option to use a single administration and communications platform, rather than running more than one platform.Simon Fletcher, client ...
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Top earners' pay has doubled over 25 years
The real earnings of the top 1% of earners in the UK has doubled over the last 25 years, increasing by around 117%, according to research by the Office for National Statistics (ONS).The research also found that the bottom 1% of UK earners experienced a real wage growth of 70% ...
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Extra benefits may be preferable to small pay rise
Nearly three-quarters (74%) of respondents would consider offering additional staff benefits instead of a small pay rise, according to research by Jelf Employee Benefits.The survey, carried out at the organisation’s annual health and wellbeing forum in October, found nearly three-quarters (74%) of respondents would consider giving employees extra benefits in ...
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Commerzbank to appeal bonus ruling
Commerzbank is to challenge a High Court ruling that it should pay bankers a share of €400 million in bonuses.The legal claim was launched by 104 bankers from Dresdner Kleinwort Investment Bank (DKIB) after it was sold to Commerzbank in 2009.According to the bankers, senior managers at DKIB announced a ...
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Awareness day highlights workplace stress
Work-related stress issues lead to less engagement, more day-to-day physical health problems and a higher likelihood of day-to-day psychological health problems, according to research by wellbeing specialists Robertson Cooper.The research, which coincides with National Stress Awareness Day on 7 November, found that, of the 47% of respondents who have encountered ...
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Consultation on lifting Nest restrictions
The government has published a call for evidence on the impact of two statutory restrictions on the National employment savings trust (Nest).It is seeking views and evidence on whether the annual contribution limit and transfer restrictions on Nest are influencing employers’ choice of auto-enrolment pension scheme in a way that ...
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RTI pilot expands
The real-time information (RTI) pilot is to expand between 6 November 2012 and 31 March 2013 with the addition of 250,000 employers.The pilot was launched in April 2012 with 10 employers reporting pay-as-you-earn (PAYE) information in real time to HM Revenue and Customs (HMRC).Ruth Owen, director general, personal tax at ...
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Gender pay gap persists among executives
The average female executive earns an average of £423,390 less throughout their career compared to a male worker with an identical career path, according to research by the Chartered Management Institute (CMI).The 2012 National management salary survey, which took data from 38,843 employees working in executive positions in UK organisations, ...
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Consultation could increase local authority pensions' investment in infrastructure
Government proposals could lead to up to £45 billion in local authority pension fund investments being used to fund infrastructure projects, such as building homes and high-speed railways.Proposals outlined in the Local government pension scheme: investments in partnerships consultation could allow councils to double the amount they are able to ...
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Booker Tate completes pensions buyout
Booker Tate has completed a pension insurance buyout for its defined benefit (DB) pension scheme.The transaction, carried out in conjunction with Pension Insurance Corporation (PIC), covers £20 million of pension liabilities.The organisation, which provides development, management and technical services to the sugar, ethanol and bio-energy market, was advised by Barnett ...
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L-tips increase FTSE-100 directors’ reward
Basic pay and bonus growth for FTSE-100 directors has slowed over the past year, but the value of vested long-term incentive plans (L-tips) has pushed their average earnings increase to 27%, according to research by Incomes Data Services (IDS).Its Directors pay report 2012/13 found that salary rises for FTSE-100 directors ...
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Stress is top health risk to employers
Stress among employees is considered the top health risk to organisations, according to research by group risk industry trade body, Group Risk Development (Grid).Its Group risk employer research study, which surveyed 500 employers in October, found that 21% of respondents named stress and mental health issues as the number one ...
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Offshore payroll firms may create NI liabilities
UK employers that use temporary workers who are employed by offshore payroll organisations must be aware they could be liable for employer national insurance contributions (NICs).Offshore payroll companies do not need to pay NICs for their employees because the company is not resident in the UK. However, organisations that use ...
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Tax rule changes can cause reporting errors
Changing rules around the tax treatment of benefits, and a failure to implement effective policies, processes and systems, are the most common causes of errors on employers’ end-of-year benefits tax returns.These could result in penalties for organisations.Richard Webb, tax director at Grant Thornton, said employers must be aware of these ...
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RSA offers eye health screening to staff
RSA Group is offering an eye health screening clinic to employees at its Bristol office and local Quality Repair centre.The screening, which is provided by Specsavers, is part of the insurance group’s Fit to Drive campaign, which highlights the dangers of driving with poor eyesight and encourages drivers to look ...
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DB pension deficits hamper investment
High levels of defined benefit (DB) pension scheme deficits are hampering organisations in investing in their businesses, according to research by the Institute of Chartered Accountants in England and Wales (ICAEW) and Mercer.The Living with defined benefit pension risk report, which surveyed finance directors and other senior leaders on DB ...