All Group risk articles – Page 9
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Analysis
Infographic: What group risk benefits do employers offer?
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OpinionDr Matthew Connell: Start the conversation about group risk benefits
In many ways, group risk benefits are the best benefits employers can offer their staff.If an employee does not have an adequate pension, they can work longer to save for one, provided they are healthy. But if someone loses their ability to work because of illness, there is no plan ...
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Article29% of group income protection claims are for cancer
Just under a third (29%) of group income protection claims are for cancer, according to data from provider Unum.Its annual claims statement, which analysed data relating to the 1,722 group income protection claims paid by Unum between 1 August 2016 and 31 July 2017, also found 17% of overall group ...
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ArticleGreensill Capital launches new benefits package for UK staff
Financial services organisation Greensill Capital has launched a new package of benefits and online benefits platform for its 72 UK employees.Its online portal, Greensill Rewards, which was launched in August and is provided by Portus Consulting, provides staff with access to new employer-paid benefits, such as private medical insurance, a ...
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ArticleCanada Life to acquire Retirement Advantage
The Canada Life Group (UK) has reached an agreement to acquire financial services provider Retirement Advantage.Retirement Advantage was formed in 2015 from the merger of the retirement income and equity release divisions of MGM Advantage and Stonehaven. The organisation has more than £2 billion of assets under management, including £1.5 ...
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ArticleEnhanced income protection benefit offered to Metropolitan Police staff
Members of the Metropolitan Police Service can now access an enhanced income protection benefit which include access to personal nurse advisers.The nurse advisory service, provided by RedArc, was added to the income protection offering on 11 August 2017. This will enable eligible staff to access long-term practical help and emotional ...
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Case StudiesThe benefits offered by BDO UK
The workplace benefits offered by BDO UK include:Pension and group riskGroup personal pension plan (GPP) with a matched contribution structure of 1% for all employees. If the scheme is joined voluntarily, an age-related matching contribution structure is used, ranging from a 2% employer contribution for employees under 25-years-old to a ...
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Article36% have access to an employer-organised sick pay insurance scheme
More than a third (36%) of respondents have access to an employer-organised sick pay insurance scheme, according to research by BHSF.Its A high wire with no safety net report, which surveyed 1,000 employees, also found that 33% of respondents believe that financial worries affect their job performance, either on a ...
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Article18% of staff have critical illness or income protection cover
Less than one-fifth (18%) of employee respondents have some form of critical illness or income protection cover that would help them financially if they were to develop a serious illness, according to research by Canada Life Group Insurance.Its survey of 1,010 UK full-time and part-time employees also found that 72% ...
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ArticleEXCLUSIVE: 91% offer life assurance benefits
EXCLUSIVE: Approximately nine in 10 (91%) employer respondents provide life assurance or death in service, according to research by Employee Benefits and Staffcare.The Employee Benefits/Staffcare Benefits research 2017, which surveyed 271 employer respondents in February-March 2017, also found that the majority of respondents that offer life assurance or death in ...
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AnalysisHow can benefits support age diversity in the workplace?
Need to knowAs the UK population ages, supporting older employees in the workplace will become a more prominent issue.A benefits strategy does not necessarily need to be age-specific, but can focus on an employee’s life stage to have a bigger impact.Benefits such as flexible working, health and wellbeing initiatives, and ...
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Article£1.5bn paid in group risk claims in 2016
Nearly £1.5 billion was paid out by the group risk industry over 2016, up £100 million on 2015, according to research by industry body Group Risk Development (Grid).The research, which is based on claims data from Grid’s provider members, also found that 24,925 claims were made in 2016 for group ...
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Article12m people covered by group risk schemes in 2016
More than 12 million individuals were covered by group risk schemes at the end of 2016, according to research by Swiss Re.Its Group watch 2017 report, which is based on data collected from 16 providers in the group risk market in the UK and 18 employee benefits consultancies, also found ...
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ArticleStarbucks China to introduce critical illness insurance for employees’ parents
International coffee organisation Starbucks is to launch a new parent care programme in China, providing employer-paid critical illness insurance for the parents of its full-time employees.The benefit, effective from 1 June 2017, will be available to parents of full-time employees who have at least two years’ service and who work ...
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Case StudiesThe benefits offered by Holiday Extras
The workplace benefits on offer at Holiday Extras include:Pension:Group personal pension (GPP) plan, with 3% employee contribution. Employer contributes 3% for the majority of staff and 11% for directors and associate directors. Employees can contribute via salary sacrifice. All employees are eligible after they have passed probation, but must opt ...
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Supplier article
What do salary sacrifice changes mean for group risk benefits?
Ellipse explores how the changes to salary sacrifice will impact group risk benefits, employers and financial advisers, suggesting ways both parties can prepare for the impact on flexible and voluntary benefit arrangements.Salary sacrifice has been used by employees to purchase certain benefits in a way that saves income tax and ...
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Article14% believe every employer provides death-in-service benefits
More than one in 10 (14%) respondents believe that every employer provides death-in-service benefits, according to research by Aviva.Its Protecting our families report, which surveyed 2,500 UK adults, also found that 18% of respondents do not know what support they would get from their employer if the main income earner ...
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Article12% rank health cash plans as their most valued benefit
Just over one in 10 (12%) respondents rank health cash plans as their most valued employee benefit, according to research by Willis Towers Watson.Its 2017 Willis Towers Watson employee benefits and wellbeing index, which surveyed 1,123 UK full and part-time employees aged between 18 and 64 years old, also found ...
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ArticleEXCLUSIVE: 88% of benefits professionals receive life assurance or death-in-service benefits
EXCLUSIVE: Almost nine in 10 (88%) HR and benefits professional respondents receive life assurance or death-in-service benefits, according to research by Employee Benefits.The Salary survey 2017, which surveyed 249 HR, reward and benefits professionals in December 2016, also found that 75% of respondents' organisations offer private medical insurance (PMI).These benefits ...
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Case StudiesThe benefits offered by Metro Bank
The workplace benefits on offer at Metro Bank include:Pension and group riskGroup personal pension plan. Contribution levels are set according to seniority, starting at 3% employee contribution and 6% employer contribution, then rising to 4% and 8%, with a maximum 5% employee and 10% employer contribution.Life assurance.Healthcare and wellbeingPrivate medical ...