All articles by Jennifer Paterson – Page 173
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Analysis
Flexible benefits: Will flex scheme be a good fit?
If you read nothing else, read this …Employers can identify whether a flexible benefits scheme will be right for their organisation by assessing its financial feasibility and determining whether it fits into their business culture.They should also meet key stakeholders in the business to find out whether they are all ...
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Article
News analysis: Retail vouchers prove a taxing issue
The European Court of Justice's ruling on the VAT status of retail vouchers could have wide implications for salary sacrifice, says Jennifer PatersonLast month, the European Court of Justice (ECJ) ruled that employees must pay value-added tax (VAT) on retail vouchers bought through salary sacrifice arrangements. In the case of ...
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Article
Insights adds global benefits brand
Insights Learning and Development has launched a global benefits brand across its offices in the UK, US, Canada, France and Italy.The Viva! brand will be used as a communications tool. In the UK, it was used to launch voluntary benefits for 78 staff, provided by Asperity Employee Benefits. Fiona Boath, ...
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Article
IDS research: Aim directors' pay breaks £200,000 barrier
Directors of Aim-listed organisations received pay rises averaging 6.1% in the last financial year, and have reached an average of £168,8601.The Executive Compensation Review 354 by Incomes Data Services (IDS), shows the average basic salary of Aim chief executive officers (CEO) has broken through the £200,000 per annum ceiling for ...
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Article
Capita Group acquires National Dental Plan
The Capita Group has acquired the National Dental Plan (NDP) group of companies for a cash consideration of £30 million.NDP designs, distributes, arranges underwriting for and administers dental insurance policies for more than 300 organisations including Lloyds Banking Group, HSBC and BT. It employs around 20 staff.Paul Pindar, chief executive ...
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Article
University pension schemes' funding levels drop
The average FRS17 funding level of university final salary pension schemes has dropped from 81% to 73% in the last five years, according to a survey of self-administered trusts (SAT) by Barnett Waddingham.The survey, which is based on data in the published accounts of 26 universities with financial years that ...
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Article
Only 16% of multinationals feel benefits plans are sufficient
Only 16% of multinational organisations feel their existing governance structures of employee benefits programmes are sufficient to meet current and anticipated future needs.The Global governance of benefit plan survey by consultancy Mercer of 114 multinational organisations also found significant declines in asset values and the dramatic deterioration of defined benefit ...
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Article
Pension Protection Fund strategy could impact employer levies
The route by which the Pension Protection Fund (PPF) intends to reach its new long-term strategy of being financially self-sufficient by 2030 could make a big difference to the levies employers pay over the next few years, according to Towers Watson.By 2010, the PPF aims to have protected itself against ...
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Article
Working parents feel more supported by employers
Working parents feel more supported in the workplace than ever, according to data from Axa Icas.Calls from worried parents and parents-to-be to the provider’s LifeManagement Employee Support Helpline have dropped by 59% as parents achieve a better work-life balance.Jean Wilcock, operations manager of LifeManagement Services, said: “The introduction of legislation ...
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Article
Marks and Spencer introduces schemes to enhance staff motivation
Marks and Spencer (M&S) has rolled out a new employee recognition programme, introduced charity volunteer days and launched an employee wellbeing website.The recognition programme, called ‘Spotlight’, aims to recognise retail staff who deliver exceptional service.It is based around instant bronze, silver and gold reward cards representing prizes of increasing value, ...
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Article
Majority of employers value flexible working for staff
The majority of employers (92%) believe employees work best when offered a work-life balance.The charity Gingerbread conducted a survey which found the key employment practices required by single parents are: part-time or flexible hours; flexibility to attend school functions; and paid time off when their child is sick.As a result, ...
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Article
'Geared for Giving' campaign reaches more than a million employees
The ‘Geared for Giving’ campaign has reached its target of making workplace giving schemes available to more than a million employees.The campaign, which was launched in 2008 by entrepreneur and author Duncan Bannatyne and MP Anne Snelgrove, has raised more than £1.2 million for hundreds of charities with over £8 ...
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Article
Employee share schemes rise in popularity
More than 12,000 organisations operated employee share schemes during the 2008-09 tax year, according to figures from Her Majesty’s Revenue and Customs (HMRC).The schemes in use include save as you earn (SAYE) sharesave plans, share incentive plans (Sips), company share option plans and employee management incentives (EMIs).Take-up for EMIs has ...
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Article
Goodman Masson staff raise money for charity
Goodman Masson staff have raised money for the charity Help for Heroes by dressing up as Superman.The firm broke the world record for the largest number of people dressed as Superman with 180 staff members, friends and families wearing the blue jump suit, red shoes and cape.Thousands of pounds were ...
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Article
EastEnders staff accept lump sum payment to replace travel allowance
EastEnders’ staff have suspended proposed strike action, after accepting a lump sum payment of £650 to replace travel allowance benefits.Those affected are a group of 21 BBC Studios and Post Production (S&PP) staff members who claim the costs of travelling to and from work each day.Mark Thomas, chief executive officer ...
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Article
Grant Thornton staff take up health and wellbeing plan
Since Grant Thornton introduced a new health and wellbeing programme to its 200 partners, 40 employees have taken advantage of the offering.The two-day programme away from the office incorporates the latest developments in medicine, nutrition, exercise and fitness, neuroscience, cognitive, behavioural and occupational psychology to inform a comprehensive multi-disciplinary approach ...
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Article
Majority of employees prefer to be paid monthly
The majority (85%) of employees would rather be paid on a monthly basis instead of weekly or twice a month. According to research from the Institute of Payroll Professionals (IPP), 65% of employees said Friday is the ideal day of the week to get paid. Furthermore, many prefer to receive ...
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Article
Cycle Solutions joins the Cycle to Work Alliance
Cycle Solutions has joined the Cycle to Work Alliance.Cyclescheme, Evans Cycles and Halfords are also members of the alliance. To date, the alliance has helped over 400,000 UK employees with the cost of bicycles and safety equipment through the cycle-to-work scheme.Steve Edgell, director at Cycle Solutions, said: “The cycle-to-work scheme ...
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Article
Pension Capital Strategies research: Pensions buyouts total £2.2 billion
Pensions buy-outs totalled approximately £2.2. billion in the second quarter of 2010, according to figures from Pension Capital Strategies.Rothesay Life confirmed the completion of the largest buy-in deal completed during 2010 with the £1.3 billion buy-in of pension liabilities of the British Airways pension scheme. This deal followed the same ...
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Article
GE Capital staff take part in triathlon
A 40-strong group of GE Capital employees took part in a triathlon over the weekend after being entered into the event by their employer. The London Triathlon sprint team relay, which took place hosted at Londons ExCel Centre, saw more than 12,000 professional and amateur entrants compete in a series ...