All articles by Debbie Lovewell-Tuck – Page 40
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OTS to implement nine quick wins on employee benefits
Autumn Statement 2013: The Office for Tax Simplification (OTS) is to implement nine ‘quick wins’ identified in its interim report on employee benefits and expenses, by the end of January 2014.Its plans were announced in the 2013 Autumn Statement on 5 December.The OTS is due to publish details of these ...
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Article
Tax exemption on bonuses under employee ownership
Autumn Statement 2013: The government is to provide an annual exemption from income tax on bonuses or equivalent payments on amounts up to £3,600 paid to employees of organisations that are indirectly employee-owned.This is part of a package of measures for the government to provide an additional £25 million to ...
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Debbie Lovewell: Banish gender pay gaps
In fact, startling pay inequality can be seen throughout all but the most male-dominated professions. Research published by the Office for National Statistics (ONS) last month found that women in full-time employment earn, on average, almost £5,000 a year less than men.Its findings struck something of a personal chord, as ...
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Case StudiesMolson Coors Brewing Company seeks pensions understanding
It relaunched its group personal pension (GPP) scheme in July 2013 with a new provider, Friends Life, to comply with auto-enrolment legislation ahead of its August 2013 staging date. Its employees are auto-enrolled on a minimum 3% contribution, although they are encouraged to increase this voluntarily to at least 5%. ...
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AnalysisHow much do staff need to contribute for a comfortable retirement?
If you read nothing else, read this…The minimum 8% contribution required under auto-enrolment legislation will provide employees with a decent income in retirement if they start saving at age 22.Employees should aim to contribute a percentage of salary equivalent to half their age when they begin contributing, or aim for ...
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Article
Gain recognition for pensions achievements
The award for ‘Best pensions auto-enrolment strategy’ will recognise employers that maximised the opportunities offered by the need to comply with auto-enrolment.Meanwhile, employers that have made a concerted effort to offer an effective default investment strategy for their defined contribution pension scheme could enter the award for ‘Best DC pensions ...
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Article
Mind selected as Employee Benefits Awards 2014 charity
Mind provides information, advice and support to anyone suffering from a mental health issue.With one in six employees now experiencing a mental health condition, one of Mind’s current campaigns is aimed at helping employers to prioritise employees’ mental wellbeing and take steps to make their workplace mentally healthier.If you would ...
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Debbie Lovewell: Rethink motivation approach
Last month, the Global employee engagement trends report 2013, by management consultancy Hay Group, found that, in the UK, almost half (44%) of employees included in its sample do not believe their employer plays its part in motivating them. Also, 41% said conditions in their job do not allow them ...
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Article
Keynote speakers inspired at Employee Benefits Live
During two packed days of top-level conference sessions, numerous leading employers and industry experts shared their experiences and expertise on a wide range of topics from pensions auto-enrolment, healthcare and wellbeing, flexible benefits and tax-efficient benefits to name but a few.Closing the first day of the conference, seven previous Employee ...
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Article
Employee Benefits magazine - November 2013
Mitie Group has worked hard to overcome benefits challenges posed by its move to an integrated management model. Find out how it did it in United Effort.Maintaining staff motivation during times of significant change can be tricky. Learn how to keep staff engaged throughout in Different Horizons.Read the Employee Benefits ...
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Article
Which charity should the Employee Benefits Awards support?
Vote on poll right.Every year, Employee Benefits selects a charity partner to support through the Employee Benefits Awards.We would value your opinion on which charity we should support in 2014, based on suggestions we have received from members of our LinkedIn groups. The shortlist is Mind and Tomorrow’s People.Our chosen ...
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Article
Debbie Lovewell: Publicising benefits is key
Despite investing significant amounts of money developing a benefits package to suit their workforce’s needs, often including a wide range of perks, some organisations then fail to communicate these to their employees properly.When you think of the work that goes into developing a benefits strategy, communication may seem like a ...
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Article
Employee Benefits Awards 2014 open for entries.
The Employee Benefits Awards 2014 offer reward and benefits professionals the ideal opportunity to showcase, and gain recognition for, the outstanding work they have done over the past 12 months.This year, employers are encouraged to enter initiatives they have introduced during the past year, as well as successful longer-running benefits ...
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Staff confidence in pensions growing
The UK is moving from being a nation of pension shirkers to pension savers.Speaking at the NAPF’s annual conference, Joanne Segars (pictured), chief executive of the National Association of Pension Funds (NAPF), said: “I think I can see the green shoots of pensions recovery. [Auto-enrolment] opt-out rates are far lower ...
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Debbie Lovewell: Pensions reports highlight challenges
Several pensions reports published this week brought some frankly concerning issues firmly back into the spotlight.Firstly, Scottish Widows’ 2013 Women in Pensions report found that just 40% of women are adequately prepared for retirement, while more than a third (39%) have made no pension provision at all. In addition, the ...
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Debbie Lovewell: Is pension charges cap enough?
It proposed three possible options for the cap:A charge cap of 1% of the funds under management, reflecting the current stakeholder pension cap;A lower charge cap of 0.75%, reflecting the charging levels already being achieved by many schemes;A two-tier ‘comply-or-explain’ cap, which would set a standard cap of 0.75% for ...
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Pension industry needs to be bold to deliver best value
The pensions industry needs to be bold if it is to deliver increased value and the best outcome for members.Defined contribution (DC) scheme charges, in particular, need to be brought into line across all providers with greater transparency.Speaking in a panel debate at the National Association of Pension Funds’ annual ...
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Employee Benefits Live 2013 speaker slides
Day 1 slides for 25 September 2013KNI – Managing change under pressureBaroness Eliza Manningham-Buller DCB, former director general MI5NO SLIDESKN2 – 60 tips in 60 minutes from Employee Benefits Awards winnersDebra Corey, group compensation and benefits director, Merlin EntertainmentsRichard Murray, group pensions manager, FirstGroupMike Hazlegrave, reward manager, Asda StoresDebi Povey, ...
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Case StudiesMcDonald's Restaurants built on motivation
McDonald’s incentivises and supports these desired behaviours through two bonus schemes for its 400 company-owned restaurants.Each month, all employees in the top 10% of restaurants, based on mystery shopper scores, receive a bonus. In addition, restaurant managers are eligible for a quarterly bonus based on three equally weighted measures: mystery ...
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Showcase achievements at Employee Benefits Awards 2014
With 22 categories to enter in the Employee Benefits Awards 2014, there is sure to be one to showcase your organisation’s achievements.You can enter as many categories as you like, so don’t worry if you find it difficult to choose between them. All we ask is that you tailor each ...