All articles by Debbie Lovewell-Tuck – Page 51
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Case Studies
Case study: Julius Baer banks on international pension plan
Swiss private banking group Bank Julius Baer offers an international pension plan for 70 employees in locations such as Singapore, Egypt and Latin America. A further 60 staff are covered by a subplan in Dubai and Abu Dhabi.The scheme, which has been in place for four years, is administered in ...
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Analysis
International reward: The advantages of offshore benefits arrangements
If you read nothing else, read this...Multinational organisations can use offshore employee benefits arrangements to provide perks such as group income protection, death in service, life insurance and pensions.Multinational pooling arrangements, which can be used to provide insurance-based benefits, operate like a profit-share arrangement and can result in savings for ...
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Case Studies
Case study: Thomson Reuters uses multinational pooling for risk benefits
Thomson Reuters operates five multinational pooling arrangements for risk benefits such as life insurance, disability cover and, where viable, medical insurance. It has operated this arrangement, where possible, across the 90 countries in which it has a presence for at least nine years.Mohammed Valjy, international benefits manager at Thomson Reuters, ...
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Article
Finance Bill 2011: Income tax to be payable on EFRBS
The government has confirmed that legislation will be introduced in the Finance Bill 2011 to tackle arrangements that use trusts and other vehicles to reward employees, which seek to avoid, defer or reduce tax liabilities.The legislation will ensure an income tax charge arises where a third party makes provision for ...
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Article
Asperity Employee Benefits acquired by Inflexion
Asperity Employee Benefits has been acquired by private equity investor in a £25.5m buy-out deal.The move will enable Asperity to accelerate its plans to expand into international markets, which have been spurred on by clients' cross-border demands.Glenn Elliott, founder and managing director of Asperity Employee Benefits, said: "Everyone at Asperity ...
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Article
Defined benefit deficits grow despite record company contributions
The aggregate accounting deficit for large multi-national organisations stood at €160 billion (£135 billion) at the end of September 2010, up from €150 billion at the end of last year, according to Lane Clark and Peacock's (LCP) European Pensions Briefing 2010.The increase comes despite companies pumping a record €40 billion ...
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Analysis
2012 Pension Reforms: Protection of the Nest
If you read nothing else, read this . . .The national employment savings trust (Nest) is a low-cost pension scheme designed for low-to-moderate earners and their employers.Nest will be structured like a trust-based defined contribution scheme, which can be offered as an alternative to other occupational pension arrangements.Nest has a ...
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Analysis
2012 Pension Reforms: Six steps to compliance
If you read nothing else, read this . . .Employers need to identify the exact staging date on which their organisation will be required to auto-enrol all employees into a qualifying occupational pension scheme or the national employment savings trust (Nest).Employers should carry out strategic and budgetary analysis of their ...
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Article
Doctor's benefits to include sausages
Complimentary sausages are not something many job seekers would expect to see on a job advertisement.However, this is one of the perks promised to the successful applicant who becomes the doctor in the small German village of Lette.Residents are so desperate to find a replacement for their local GP who ...
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Article
Employee Benefits Live 2010: Design reward to fit people
The essence of total reward is about trying to connect with an organisation’s workforce in order to obtain optimum results.Employers should design their reward strategy to fit their people, rather than trying to get people to fit the reward design, said Peter Reilly, director HR and consultancy at the Institute ...
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Article
Employee Benefits Live 2010: Total recognition could replace total reward
Employers should look at using a total recognition strategy in place of total reward in order to effectively align performance management with rewards.This is because money is not always a motivator, said Chris Bones, dean at Henley Business School, speaking at Employee Benefits Live 2010. Alongside cash remuneration, employees are ...
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Article
Employee Benefits Salary Survey 2010
Reward levels for compensation and benefits professionals have begun to edge upwards as employers slowly loosen constraints after the recession, says Debbie LovewellEmployee Benefits surveyed 466 people responsible for managing compensation and benefits in their own organisations for the Employee Benefits Salary Survey 2010. The majority (80%) of respondents were ...
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Case Studies
Case study: Spires Healthcare enters the bicycle valuation matrix
Spires Healthcare has adopted HMRC's valuation matrix to determine the fair market value of bicycles in its cycle-to-work scheme. It went live with the latest offer under its Halfords-provided scheme in September, after introducing the benefit for its 7,000 staff in January 2008.Jim Carson, head of reward at the private ...
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Analysis
Voluntary benefits: Keep up with the latest regulations
If you read nothing else, read this . . .From 6 April 2011, tax relief up to £55 a week on childcare vouchers will be restricted to basic-rate taxpayers.HMRC has issued guidelines on what employers should charge as a fair market value when transferring a bicycle offered through a cycle-to-work ...
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Analysis
Voluntary benefits: Interview with Karen Thompson of the Institute of Payroll Professionals
Shifting legislation is one of many factors to consider when introducing tax-efficient benefits, Karen Thompson of the Institute of Payroll Professionals tells Debbie LovewellIn recent years, speculation has been rife over the future of tax-efficient benefits. Moves such as the former Labour government’s removal of tax breaks on the home ...
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Article
Freshfields Bruckhaus Deringer introduces emergency care
Law firm Freshfields Bruckhaus Deringer has introduced up to 10 free back-up care sessions a year for every London-based employee.The sessions, which cover childcare, eldercare, dependent adult care and school holiday cover, enable staff to search for and book a qualified nanny, childminder, nursery place or local back-up domiciliary homecare ...
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Article
Charities Aid Foundation implements new HR and payroll system
The Charities Aid Foundation has signed a five-year contract with NorthgateArinso to implement its web-enabled HR and payroll system.The system’s self-service functionality will enable employees to manage some of their own affairs, such as booking holidays and reporting sickness.Managers are also encouraged to take responsibility for HR procedures in their ...
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Article
Nordea Bank commended for health and wellbeing
Nordea Bank's London branch has been commended for its commitment to employee health and wellbeing.The bank was awarded a Healthy Workplace award by provider Simplyhealth in recognition of the contribution it makes to the welfare of employees. Winners of this award provide employees with a range of initiatives and benefits ...
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Article
ITV carries out an enhanced transfer value exercise
ITV is carrying out an enhanced transfer value (ETV) exercise for its defined benefit (DB) pension scheme. It has made the non-cash ETV offer to 1,500 scheme members and expects to receive a good level of take up, said Christine Jackson, head of pensions at ITV, speaking the National Association ...
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Article
NAPF conference: Employers should be clearer about pension in job adverts
Employers should be clearer about their pensions provision when advertising for jobs, according to research by the National Association of Pension Funds (NAPF).According to the industry body’s survey on the links between job-hunting, recruitment and pensions awareness, a fifth of employees only found out that their new employer offered a ...