All articles by Debbie Lovewell-Tuck – Page 26
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OpinionLovewell's logic: Should we have a national living wage?
Earlier this week, I read several articles in the Financial Times about how the world will be watching the UK when the new national living wage of £7.20 an hour for workers over 25 comes into effect from today.These articles described how countries around the world, including Germany, Japan and ...
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AnalysisHow much is a good-quality pension scheme really worth?
Offering a good-quality pension scheme that goes beyond the legal minimums can be an effective tool to recruit, retain and engage employees.What is the value to employers of offering a good-quality pension scheme?There is a very strong and increasing focus on pensions. With the move away from defined benefit schemes, ...
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ArticleEmployee engagement is fundamental to a wide range of organisational objectives
Strong employee engagement is the lynchpin for numerous organisational objectives.An engaged workforce is known to be more productive, demonstrate higher levels of performance and, often, its members act as ambassadors for their employer. Organisations that have achieved a successful engagement strategy have invariably noticed links between employee engagement, customer satisfaction ...
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ArticleA fifth do not expect to retire until after age 70
Just over a fifth of respondents do not expect to be able to retire until they are in their seventies, according to research by Willis Towers Watson.Its Global benefits attitudes survey, which interviewed UK-based 1,895 workers, also found that employees who expect to work for longer are less healthy, more ...
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ArticleEDF Energy accredited as living wage employer
EDF Energy has been accredited as a living wage employer by the Living Wage Foundation.The organisation has been accredited for its commitment to paying all its staff at least the national living wage of £8.25 an hour.The living wage is a voluntary rate calculated according to the basic cost of ...
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ArticleKingfisher agrees £230 million pension buy-in
Retail group Kingfisher has completed a £230 million medically underwritten buy-in transaction for its defined benefit (DB) pension scheme.The transaction, carried out by Legal and General, covered 149 specific scheme members from the £3 billion scheme.Aon and Hymans Robertson also advised on the transaction.Chris Gilchrist, chair of the trustee for ...
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ArticleConfessions of a benefits manager: Staying silent for international rescue
There is a perception that if you get sent on international assignment it is akin to winning the lottery. Our expatriates seem to expect penthouse apartments and limousines wherever they go. They want to double their salary and have the pick of the best benefits from either country as recompense ...
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ArticleGovernment commits to pensions dashboard
Budget 2016: The government has committed to ensuring that the pensions industry designs, funds and launches a pensions dashboard by 2019.The commitment, which was announced during the 2016 Budget, will enable individuals to view details of all of their retirement savings in one place.Darren Philp, director of policy and market ...
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ArticlePensions advice allowances to be extended
Budget 2016: The £150 limit on income tax and national insurance (NI) relief on employer-arranged pensions advice is to be extended to £500.In its Budget 2016 documentation, the government also confirmed that it is to consult on the introduction of a pensions advice allowance. This would allow pension scheme members ...
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ArticleGovernment to restructure financial guidance providers
Budget 2016: The government is to restructure the Money Advice Service, The Pensions Advisory Service and Pension Wise into two new guidance bodies.The move, which was detailed in the Budget 2016 documentation, is intended to ensure that consumers can access the help they need to make effective financial decisions.The new ...
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ArticleGovernment confirms plans to limit salary sacrifice
Budget 2016: The government has confirmed it is considering limiting the range of benefits that attract relief on tax and national insurance contributions (NICs) when offered via salary sacrifice arrangements.However, details of its intentions, set out in Budget 2016 documentation, stated that pension contributions, childcare and health-related benefits, such as ...
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ArticleCommunications require rethink to close engagement gap
Employee Benefits Connect 2016: Employee communications strategies require an overhaul in order to close the communications gap currently impacting employee engagement.Speaking in a session titled ‘Mind the engagement gap’ at Employee Benefits Connect on 9 March, Matt Macri-Waller, founder and chief executive officer (CEO) at Benefex, said that the relevance ...
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AnalysisWhere does responsibility lie for educating staff about their options at retirement?
Need to know:Nearly a year after the introduction of the pension freedoms in April 2015, confusion still exists around these.Pension scheme providers have a key role to play in guiding staff to information sources such as Pension Wise.Establishing quality standards around at-retirement products could make it easier for staff to ...
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OpinionLovewell's logic: Is menstrual leave a forward-thinking or outdated concept?
Earlier this week, Bristol-based organisation Coexist hit the headlines with the news that it has introduced ‘period leave’ for its employees.This will enable staff to stay home should they feel the need to without having to make excuses or take the time as sick leave.I have to say I’m in ...
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ArticleMeeting the challenge of the national living wage
Since Chancellor George Osborne announced the creation of a new national living wage in his 2015 Summer Budget, planning how to deal with the associated cost increases has challenged many organisations.When the national living wage comes into effect next month, the minimum hourly wage for employees aged over 25 will ...
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OpinionLovewell's logic: Fleet goes futuristic
It’s fair to say that cars and I aren’t the most natural of pairings. I have no interest in regularly upgrading the car that I drive and couldn’t name the latest must-have makes and models if my life depended on it.Yet, this week, my interest was piqued during a discussion ...
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Video
Ways to see your pension and benefits as a profit centre for your business
The six-minute video above covers: What is meant by profit centre versus cost centre employers?What do profit centre employers typically care about?What areas should profit centre employers focus on?How can providers help profit centre employers with workforce management?What are the key features of a great default investment?To watch the same ...
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AnalysisTelent futureproofs its default investment strategy
Futureproofing its default investment strategy against potential legislative change was a key objective for technology services firm Telent. However, when it introduced its current arrangement in 2013, it could not have predicted just how radical the pension reforms that took effect from April 2015 would be. And while built-in flexibility ...
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AnalysisAssessing the limitations of the pensions allowance changes
On 6 April 2016 changes to both the annual and lifetime pensions allowance limits will come into effect. From this date, the annual allowance will be gradually reduced from £40,000 to £10,000 for those earning between £150,000 and £210,000 a year, while the lifetime allowance will reduce from £1.25 million ...
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Video
Motivating employees in 2016
The five-minute video above covers: Why we should worry about a de-motivated workforce?Are UK employees motivated at work?What really affects employee motivation?What do employers need to do to ensure they have an engaged and motivated workforce?What are the most motivating rewards?How can employers select the right reward solution for a ...