All articles by Clare Bettelley – Page 12
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Article
Share your views on flexible benefits
We are conducting our annual research designed to help benefits professionals benchmark their organisation’s flexible benefits plan.The Employee Benefits/Towers Watson Flexible benefits research 2013 revealed that 92% of employers that did not offer flex viewed the cost of implementation as a barrier to doing so.And 55% of respondents believed that ...
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Article
Employee Benefits Flexible benefits survey 2014
1. If you complete the Employee Benefits Flexible Benefits Survey 2014 between the dates that you receive the competition email and midnight on 31 January 2014, you will automatically be registered for the prize draw.2. The promoter of this competition is Employee Benefits, a division of Centaur Communications Ltd (“Employee ...
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AnalysisHow to motivate lower-paid staff in high-pay cultures
If you read nothing else, read this…Lower-paid staff need to see that high pay is earned.This relies on employers having transparent pay policies.Recognition programmes can help to keep lower-paid staff motivated.The row was fuelled by a job advertisement for a lead kitchen porter at Arsenal’s Emirates Stadium, placed by Arsenal ...
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AnalysisHow much pension fund choice should employers offer their workforce?
If you read nothing else, read this…Evidence shows that the greater the choice of pension funds, the less engaged employees may become in the scheme. Some employees in some market sectors, such as financial services, will always be more engaged than others. Many employers just want to get through auto-enrolment ...
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Case StudiesCafcass uses health cash plan to cut costs
Daryl Maitland, senior HR business partner at the organisation, says: “Initially, we had a look at what we were spending on the wellbeing of our staff and a couple of things we noticed were a little worrying, or things we could improve on.”For example, Cafcass was processing employees’ eye tests ...
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AnalysisTop benefits taken up through health cash plans
If you read nothing else, read this…Optical and dental remain the most popular benefits claimed through health cash plans.Physiotherapy and chiropractic care are growing in popularity.Shortfalls in National Health Service provision are helping to drive cash plan take-up. Medicash Healthcare is one health cash plan provider to have seen increased ...
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Case StudiesMarriott Hotels considered pension fund choice in auto-enrolment decisions
Its staging date was April 2013, but it postponed auto-enrolling its workforce until 1 July 2013 with the help of its adviser, Berkeley Burke, which also manages the organisation’s private medical insurance and group life assurance .Sarah Newsome, manager, employment law/compensation and benefits, Marriott Europe at Marriott Hotels, says: “Fund ...
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ArticleHealth cash plan report 2014
The supplement includes the following articles:Facts and figures on health cash plans Why health cash plans are an integral part of a health and wellbeing strategyCase study: Health cash plan helps Furlong Flooring reduce staff absenceCase study: Health cash plan supports Briggs Equipment’s manual workersViewpoint: Nick Bacon: Health cash plans ...
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Video
Video: Sarah Swift: Employers must get to grips with pensions guidance
Employers must get to grips with the huge volume of regulatory guidance that has been published on pension schemes in the last couple of years, according to Sarah Swift, pensions partner at law firm, Eversheds, during an interview with Clare Bettelley, associate editor at Employee Benefits.She said the task is ...
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AnalysisAre default investment funds fit for purpose?
If you read nothing else, read this…Employers must offer staff a default fund under auto-enrolment legislation.But the funds are, arguably, not fit for purpose because of their legacy issues and restrictive asset allocation.Regulatory guidance on default fund governance should help default funds to evolve.Pensions auto-enrolment has been dubbed one of ...
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AnalysisWhat should future default fund strategies look like?
If you read nothing else, read this…The default fund strategy of the future should be flexible enough to address employees’ diverse retirement income needs.Asset allocation should be more diverse and include illiquid assets, such as property.But employers must focus on employees’ retirement income, rather than investment returns.Flexibility should be at ...
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AnalysisTop tips for managing default fund strategies
If you read nothing else, read this…Employers should start by identifying their employees’ retirement needs.Employers have a duty of care to ensure employees are financially able to retire.This requires employee education and engagement.Workforce needsEmployers should start by identifying the retirement income needs of their workforce.Andy Dickson, investment director, UK institutional ...
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Video
Video: Madeline Forrester: Default investment strategy should be member-led
Employers’ default pension strategies need to be member-led and cater for their organisation’s average pension scheme member, said Madeline Forrester, head of institutional sales at Axa Investment Managers, during an interview with Clare Bettelley, associate editor at Employee Benefits.“[Employers] need a variety of talents within the group leading [the strategy], ...
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AnalysisHow should employers communicate default funds?
If you read nothing else, read this…Employers must be honest with staff about their savings goals.Employees need to understand how long they may need to work to afford their desired retirement lifestyle.Employers should remove all jargon from their communications.Simon Chinnery, head of UK defined contribution (DC) practice at JP Morgan, ...
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Video
Video: Spencer Roach: Diversity key to Cisco's new default fund
Diversity is at the heart of Cisco’s new default pension fund, said Spencer Roach, total rewards manager at Cisco System, during an interview with Clare Bettelley, associate editor at Employee Benefits. He added that the fund choice is underpinned by a lengthy selection process, to ensure that the employer’s final ...
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Video
Video: Chris Curry: Employer demand drives default fund evolution
Employer demand will drive pensions default pension fund development, said Chris Curry, director of the Pensions Policy Institute during an interview with Clare Bettelley, associate editor at Employee Benefits. “As with most things, there’s a supply and demand side [to the market], so I think if employers are really keen, ...
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Video
Video Simon Chinnery: Employers should focus on retirement income, not pot size
Employers should focus on their employees’ retirement income needs rather than the size of their pension pot when devising, implementing and managing their default pension fund strategy, said Simon Chinnery, head of defined contribution (DC) and chairman of the Defined Contribution Investment Forum, during an interview with Clare Bettelley, associate ...
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Video
Video: LV= to move away from one-size-fits-all default fund
Insurer LV= is in the throes of assessing how to meet the retirement needs of its 5,500-strong workforce as part of a review of the suitability of its default pension fund, said Pete Strudwick, pensions and performance partner at LV=, during an interview with Clare Bettelley, associate editor at Employee ...
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ArticleThe future of default funds supplement 2014
Read the digital edition of our supplement, The future of default funds 2014, in full. It includes the following articles:Simon Chinnery: The evolution of default fundsDebi O’Donovan: Employers must work with providers to deliver adequate pension outcomesAre default funds fit for purpose?What should future default fund strategies look like?Top tips ...
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Case Studies
GlaxoSmithKline has formula to protect older employees’ health
Doctor Timothy Wighton, director of global disease prevention and health promotion at GSK, says: “It is the brainchild of several people within GSK who came together and said: ‘Are we doing enough for our employees, no matter what level they are, no matter what age they are and no matter ...