All Benefits technology articles – Page 92
-
ArticleHMRC delays RTI penalties for small employers
HM Revenue and Customs (HMRC) has further delayed the date penalties will be given to small employers with automated pay-as-you-earn (PAYE) real-time information (RTI). Organisations with less than 50 employees will be exempt from RTI late filing penalties until March 2015.The date was initially set for April 2014, but was ...
-
ArticleMonarch Airlines plans to cut pay and pension benefits
Monarch Airlines has begun talks with trade unions and The Pensions Regulator (TPR) about cutting employees’ pay, benefits and defined benefit (DB) pension payouts.Its 3,300 employees are being asked to take pay cuts and productivity improvements of between 25% and 35%, on top of 900 job losses.The airline’s DB scheme, ...
-
ArticleArco redesigns voluntary benefits scheme
EXCLUSIVE: Arco has redesigned and re-launched its voluntary benefits scheme for its 1,500 employees.The safety organisation decided to redesign its plan after its previous scheme failed to engage employees and its online portal was not widely used.It has introduced a salary sacrifice computing scheme, provided by Salary Exhange, and retail ...
-
AnalysisWhat is paid for in contract-based pensions administration?
If you read nothing else, read this…In a contract-based pension scheme, administration will be performed by the plan provider.Pension administration includes collecting and allocating contributions, handling compliance and providing annual statements.Typically, an annual management charge (AMC) covers the costs of administration.The costs relating to pensions administration, and their disclosure, have ...
-
Article6% plan to take entire pension pot as cash
Just 6% of respondents are planning to take their entire pension pot as a cash lump sum at retirement once the new pension reforms come into force next year, according to research by Fidelity Worldwide Investment.Its Class of 2015 report, which surveyed 500 employees planning to retire between April 2015 ...
-
ArticleAuto-enrolment has positive impact on benefits packages
Just over two-thirds (67%) of advisers say pensions auto-enrolment has prompted employers to think about their wider benefits offering to employees, according to research by insurer Ellipse.Its survey of 120 financial advisers also found that 66% agree that, in the long term, auto-enrolment will lead to more interst in employee ...
-
ArticleWillis Ireland acquires pension businesses from IFG Group
Willis Ireland, part of Willis Group Holdings, is to acquire the Irish pension and financial advisory arm of IFG Group.The acquisition will enable Willis Ireland to develop its existing pensions business, as well as its financial and wealth planning services.Willis is set to acquire pension business IFG Pensco, financial advisory ...
-
AnalysisWhat is the real take-up of flexible benefits?
If you read nothing else, read this…Take-up of benefits offered via flexible benefits schemes can vary between industry sectors.Take-up could be limited by the perceived relevance of a benefit to an employee.Providing core levels of cover for some benefits and enabling staff to flex up or down to a certain ...
-
Article53% offer a savings scheme through payroll
More than half (53%) of respondents offer a savings scheme to staff where deductions are made via payroll, according to research by the Chartered Institute of Payroll Professionals (CIPP).Its Policy research paper – saving through payroll, which surveyed employers as well as representatives from the payroll industry, found that 41% ...
-
AnalysisHow to segment flexible benefits communications
If you read nothing else, read this…Segmentation of communications is an approach largely used by retailer employers.41% of respondents to the Employee Benefits/Towers Watson Flexible benefits research 2014 send targeted messages to staff.Segmentation can be done by age, job role, salary or demographic.A main driver of workforce segmentation for ...
-
ArticleUniversities in London to launch pensions portal
London universities, such as King’s College London, London School of Economics and University College London, are to launch an interactive pensions website.The Superannuation Arrangements of the University of London (SAUL) will make the website available to its 54 participating employers, more than 36,000 pension scheme members and other stakeholders.SAUL provides ...
-
ArticleGuinness World Records launches global HR system
Guinness World Records is to launch an online, self-service HR system for its 150 employees in London, New York, Beijing, Tokyo and Dubai.The HR system will change the way its HR and payroll department runs, providing managers with access to real-time workforce information and enabling employees to manage their own ...
-
ArticleDHL Express launches online benefits portal
EXCLUSIVE: DHL Express has launched an online benefits portal to pool its benefits in one place.The portal, which was launched in May, is available to the logistic organisation’s 3,200 employees in its Express division.The portal, called DHL Box Clever, includes access to retail discounts and tax-efficient benefits, such as childcare ...
-
ArticleBBC improves flex take up with health benefits
EXCLUSIVE: BBC has increased take up of its flexible benefits scheme to 38% since it introduced a range of new healthcare benefits in April.The media organisation’s flexible benefits scheme, which is provided by Vebnet, has been in place since 2011.In April, the BBC added personal accident insurance, heart scans and ...
-
Analysis
Gamification in pensions communication
If you read nothing else, read this…Gamification is a trend to employ game mechanics in non-game environments.Employees could receive a reward for completing a games process.Gamified design of pension communications must not be tedious.By 2015, 50% of organisations will gamify innovation processes (Gartner).According to technology research firm Gartner’s Future of ...
-
AnalysisThe problems payroll is causing for pensions auto-enrolment
If you read nothing else, read this…Processing pay and pension contributions has been an issue.Auto-enrolment consultants have seen organisations’ payroll providers over-sell their solutions.Payroll providers have struggled to send out legal communications.A second wave of purchasing is taking place, with employers switching providers.The payroll function’s role is vital for the ...
-
Article60% incurred no extra costs from RTI
Almost two-thirds (60%) of respondents have not incurred any additional costs as a result of complying with the real-time information (RTI) programme, according to research by the Chartered Institute of Payroll Professionals (CIPP).The CIPP Payslip statistics comparison report found that 33% of respondents had incurred additional costs, while 7% did ...
-
Article
Dunelm underpaid auto-enrolment pension contributions by £143,000
Dunelm Soft Furnishings underpaid pension contributions due under auto-enrolment by £143,000, according to The Pension Regulator’s (TPR) first automatic-enrolment section 89 report, which highlights key lessons to help employers avoid non-compliance.Dunelm reached its auto-enrolment staging date on 1 April 2013 and was due to complete registration, indicating that it had ...
-
ArticleKcom Group relaunches flexible benefits platform
EXCLUSIVE: Kcom Group has launched a new flexible benefits platform as part of its strategy to allow employees to select benefits all year round.Nearly 2,000 employees at the telecommunications organisation have access to the scheme, branded Pick Your Own, which launched on 1 April.Benefits such as childcare vouchers, bikes for ...
-
Article
Expedia aligns flex and auto-enrolment
EXCLUSIVE: Expedia postponed its auto-enrolment staging date by three months to align it with the launch of a new flexible benefits scheme.The organisation had planned to introduce a flexible benefits scheme for some time, but saw the impending auto-enrolment requirements as an ideal opportunity to roll both out at the ...