All articles by Jennifer Paterson – Page 23
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ArticleEmployer-supported childcare vouchers to go
In the Budget today, Chancellor George Osbourne has confirmed it will raise the costs cap on its tax-free childcare scheme to £2,000 as announced on 18 March.The childcare voucher scheme will continue to stay open, as long as an employee does not change employers, but it will be closed to ...
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ArticlePension drawdown changes take effect
A number of changes to the UK pension system, which were announced in the Budget 2014 on 19 March, take effect on 27 March, with the publication of the Finance Bill 2014.In the Budget 2014, Chancellor George Osborne (pictured) announced greater flexibility in the way employees retiring with defined contribution ...
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ArticleLimit changes put share schemes in the spotlight
In 2008, international markets, including the London Stock Exchange, suffered their biggest falls since 11 September 2001.When BSkyB launched its five-year sharesave scheme in 2008, the option price was £3.72. When the scheme matured in January 2014, the share price stood at 888.75p. About 1,500 employees are set to receive ...
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ArticleGovernment increases cap on tax-free childcare
The government has increased the cap of its tax-free childcare scheme so that working parents will be able to receive up to £2,000 per child, instead of the £1,200 that was previously proposed.In its Delivering tax-free childcare: the government’s response to the consultation on design and operation, the government also ...
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Article
BT staff to receive sharesave payout
Around 24,000 BT employees are to receive an average payout of £46,000 when a five-year sharesave scheme matures in summer of 2014.The telecommunications organisation’s 2013 Annual report showed that around 60% of employees are members of the sharesave scheme.Over the next two years, around 34,500 employees could receive shares worth ...
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ArticleBrowne Jacobson launches financial education sessions
EXCLUSIVE: Browne Jacobson is rolling out financial education sessions for its employees.The sessions are targeted at three groups of staff: those who are over 50 and planning to retire, those between the ages of 30 and 40, and those between the ages of 20 and 30 who are just starting ...
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ArticleDiscover why employers must support staff financial wellness at Employee Benefits Connect
Employers must offer the tools to help employees navigate their own financial wellness.Katie Nedl, global head of benefits at BlackRock, will speak at a session titled Understanding the effect of global financial benefits on work engagement at Employee Benefits Connect in New York on March 25, 2014.She said: “In a ...
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VideoVIDEO: Kevin O'Boyle: BT targets benefits communication
Employers should try to help employees understand the benefits of being in a pension scheme or employeeshare plan through regular, targeted communications, said Kevin O’Boyle (pictured), head of pensions at BT Group, in an interview with Tynan Barton, features editor at Employee Benefits.“There is an awful lot of inertia,” he ...
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Case StudiesWolseley UK builds an engaging benefits offer
Now the construction and building products distributor, a subsidiary of global organisation Wolseley, is focused on its corporate strategy, including its principles, its employees, and transforming the business to stay ahead of the competition.Neil McCawley, head of reward, benefits and policy at Wolseley UK, says: “People are one of our ...
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ArticleDC pension savings to become more flexible
In the Budget 2014, Chancellor George Osborne (pictured) announced greater flexibility in the way employees retiring with defined contribution (DC) pensions can take their savings.In the future, DC members will be able to take their pension wealth as a lump sum, drawdown, or an annuity.A range of changes came in ...
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AnalysisBack to basics on diversified growth funds
A diversified growth fund is managed actively so that the range of asset classes changes over time, with the aim of delivering a reasonable rate of return but with less risk than a single asset fund.If you read nothing else, read this …A diversified growth fund invests in a broad ...
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ArticleLife Planning Association launched
A new national professional body has been launched to support employers and employees in life and retirement planning. The Life Planning Association has been formed because of the current challenging circumstances of an ageing population, changes in pension schemes, state benefit reforms and longer working lives.It will aim to influence ...
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Article
Shared parental leave receives royal assent
The government’s Children and Families Act, which includes legislation for shared parental leave, has received royal assent.The act includes:From April 2015, mothers, fathers and adopters will be able to share parental leave around their child’s birth or placement.From 1 October 2014, prospective fathers or a mother’s partner will be able ...
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Article
Santander streamlines pensions admin
Santander UK has streamlined its pension administration services for around 100,000 employees across its UK trust-based defined contribution (DC) and defined benefit (DB) pension schemes.The bank previously used a number of different administrators for its pension schemes, but has now appointed JLT to administer all its UK schemes.Active, deferred and ...
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ArticleEmployers see absence rates improve
More than a third (34%) of respondents have seen absence rates improve over the past 12 months, according to research by industry body Group Risk Development (Grid).Its research, which surveyed 500 UK employers, found that only 16% of respondents have seen their absence rates worsen in the past 12 months.It ...
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ArticleStaffordshire council reduces absence
Staffordshire County Council has reduced its absence levels. after introducing a range of initiatives aimed at lowering staff sickness levels.Its latest Achieving excellence quarterly performance report showed that since December 2013, the average number of days lost through sicknesshas falled to 7.06 days per employee. Prior to December, this stood ...
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ArticleABI sets out changes for annuities market
The Association of British Insurers (ABI) has announced a plan to ensure people get more help to achieve better outcomes when they turn their pension savings into a retirement income.The plan, which acts on challenges set out in a report from the Financial Conduct Authority on annuities, will be implemented ...
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Article73% of EMEA employers communicate benefits to staff
Just under three-quarters (73%) of respondents in Europe, the Middle East and Africa (EMEA) actively communicate with staff about their compensation and benefits packages, according to research by Aon Hewitt.Its 2014 EMEA Employee benefits communication survey, which questioned 590 organisations across 19 countries in EMEA, including 146 UK employers, found ...
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Article70% lack confidence in staff absence data
One in seven (70%) of respondents are not confident about the accuracy of their employee absence data, according to research by Aon HewittIts Employee Benefits and trends survey, which questioned more than 340 benefits and HR professionals, found that 6% of respondents reported ‘low’ confidence in the system or method ...
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ArticleOnly 16% of employees would consider an electric company car
Only 16% of respondents would consider an electric car as their next company car, according to research by the Leasedrive Group.Its research, which surveyed 534 employee drivers, found that 51% of respondents would not consider an electric car, while 33% were unsure.More than a third (35%) of respondents cited a ...