All articles by Employee Benefits – Page 145
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Supplier article
Drawing a veil over fraud
The greatest changes to defined contribution pension arrangements came into force on 6 April, and the provision of a free impartial guidance guarantee service known as Pension Wise is a key part of the reforms. Pension Wise is provided by the Pensions Advisory Service, via the telephone, and through face-to-face ...
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Blog: growth in NHS agency workers and reduction in Lifetime Allowance
The unintended consequences of a reduction in the LTA are that senior employees throughout UK plc will give serious thought to their continued membership of company pension schemes. They may well not wish to face a 55 per cent tax charge on accumulated retirement benefits greater than £1m. It is ...
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Johnson Fleming’s jargon-busting guide decodes certification process
Time is running out for a growing number of employers, who face sanctions from The Pensions Regulator (TPR) if they do not get to grips with complicated auto-enrolment certification regulations.Towards the end of 2014, 1,139 compliance notices were issued by TPR; this has affected employers that have worked hard to ...
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The politics of healthcare
While these policies will help to shape the NHS, they will also have ramifications for employers, affecting everything from the management of sickness absence through to the design of healthcare products and wellbeing initiatives offered to employees.With their manifestos scheduled to be published this week, Jelf Employee Benefits has reviewed ...
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ONS data shows UK companies employ nearly five million people worldwide
Overall, the number of employees working in a UKFA for the latest reporting period* has increased by more than 13 per cent from 4.39 million to 4.98 million.Countries with highest numbers of employees working in UKFAs: However, the countries with the largest growth in employees working in a UKFA are ...
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Is the growth in group risk cover enough?
The headline numbers from the above report are impressive: 200,000 more people received life and disability cover arranged by their employer in 2014, which itself built on a further 300,000 new people in 2013. The report goes on to state that the numbers covered for these crucial protections has increased ...
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Do you have staff leaving employment? Help them to stay covered
This could include:Private medical insuranceInternational private medical insuranceLife insurance with or without critical illness coverContinuing their cover can give your staff and their family valuable peace of mind and access to the right support if they need to make a claim.Ask your staff:Have you ever used your company’s healthcare/insurance cover?Have ...
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Technical changes to automatic enrolment
The above item was the formal government response to a consultation document which focused on some small changes that might make the entire process of automatic enrolment both more logical and less onerous. The changes in question came into force on 1 April this year.One of the best summaries of ...
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Auto-enrolment – ready for impact?
While auto-enrolment led the workplace pension revolution, widespread changes first announced in last year’s Budget and Queen’s Speech will take this transformation one step further.So what are those changes and how can UK businesses ensure they are prepared? Below, we’ve highlighted the four most significant amendments you need to be ...
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Supplier articleTop 10 most read stories this week
The most read stories on employeebenefits.co.uk from 1-9 April 2015:1. Legislation and tax changes that took effect from 6 April 2015 2. How to track the impact of healthcare benefits 3. Starbucks pays US employees’ university fees 4. Employee Benefits Awards 2015 shortlist announced 5. McDonald’s improves employee benefits in ...
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From wellness to wellbeing
By Martyn Anwyl, head of operations for corporate solutions at Buck Consultants at XeroxThe idea of corporate wellbeing is evolving exponentially. As lines become increasingly blurred between organisational and employee responsibility, wellness becomes ever more entrenched into wellbeing.In the infancy of wellness, if an organisation had a cycle-to-work scheme, or ...
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Supplier article
Guide: how to... certify your pension scheme
Under auto-enrolment legislation, schemes must satisfy minimum quality requirements to ensure all eligible employees receive mandatory minimum levels of pension contributions from their employer. As more and more employers approach the renewal of their certificates, we want to help you achieve a greater understanding of the following areas:What certification is ...
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Want to minimise the risk of cardiac conditions in the workplace?
We present a unique opportunity to meet one of the nation’s leading Cardiac specialists, Dr Cliff Bucknall, who will share with you a fascinating insight into the world of advanced diagnostics and treatment techniques of cardiac conditions.Barney Pascall, who is responsible for running the London Bridge Clinic of Clinical Prevention ...
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Two in three employers intend to use Fit for Work service
Fit for Work is the government’s new flagship policy to reduce long-term sickness absence in the UK. The service began its long-awaited roll-out in March in two geographical areas, and should be available in many other regions by the end of 2015. The service will provide a free and independent ...
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India: Modi, reform and the oil price fall
Watch Lord Karan Bilimoria, founder of Cobra Beer, and Kunal Desai, head of Indian equities at Neptune Investment Management, discuss the outlook for India, alongside industry experts Darius McDermott and Jeremy Batstone-Carr. Watch the video.Narendra Modi is driving structural changes that we believe will transform the Indian economy. In a ...
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Fit for Work — where next?
The service is already available in parts of Wales and the Sheffield area, and the rollout map from the FFW website shows the remaining geographical areas, and indicates which ones will be able to access the service in the (fairly) near future. This will therefore be of use to any ...
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Supplier article
Pension Wise — now taking calls…
You may also recall that he promised that every saver would have access to free and impartial guidance to help people understand the significant range of choice now available to them. This second promise has arguably proved more problematic for the government to deliver than the first, and it is ...
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The impact on state benefits…
The following is a direct extract from the paper:“Deprivation rule; if you spend, transfer or give away any money that you take from your pension pot, DWP will consider whether you have deliberately deprived yourself of that money in order to secure (or increase) your entitlement to benefits. If it ...
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Health Shield announces record annual results in 2014
Premium income rose to more than £29m, the highest level in the company’s 138-year history. Health Shield also saw its highest annual increase in the recruitment of new members, rising to 70,370. The friendly society now covers 205,718 members and their families.Health Shield key results:Seven per cent rise in earned ...
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Supplier article
Auto-enrolment: pay attention or pay the price
To date, we have seen circa 43,000 of the UK’s biggest employers progress through staging and, despite them having both HR and payroll resources, many have struggled, with around 40 per cent already reviewing what they have put in place. Now it’s time for the smaller employer and with companies ...