All articles by Jennifer Paterson – Page 44
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Article
Staff make provisions to avoid annual allowance threshold
More than 16,000 UK workers who contribute to registered pension schemes made contributions in excess of the £50,000 annual allowance threshold by using the carry-forward provisions, according to research by Kuber Ventures.The research, which analysed data from HM Revenue and Customs (HMRC) for pension contributions in the 2011/12 tax year, ...
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Article
Prysmian Group to launch global share plan
Energy and telecom systems organisation Prysmian Group is to launch a global share scheme for around 16,000 employees in 27 countries.The scheme, which is called YES (Your Employee Shares), offers staff the opportunity to buy shares in the organisation at a discount of up to 25% on market price, or ...
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Video
VIDEO: Richard Murray: Get recognition for a good reward strategy
“If you have a good reward strategy and a good benefits package then, by all means, you should be ensuring you get the recognition for that,” said Richard Murray, group pensions manager at FirstGroup, during an interview with Jennifer Paterson, senior reporter at Employee Benefits magazine.FirstGroup won the award for ...
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Article
FTSE pension schemes not diversifying
Over the past 12 months, 85% of a selection of FTSE companies have not made any significant changes to the asset allocation of their defined contribution (DC) pension schemes, according to research by Schroders.Its second FTSE DC report, which studied the pension investment allocations of 16 FTSE 100 companies and ...
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Article
Demonstrating ROI is top priority for HR
More than a third (35%) of respondents named demonstrating return on investment (ROI) as their number one priority over the next 12 months, according to research commissioned by PMI Health Group and conducted by Imperial College Business School.The research, which surveyed HR directors and managers for large UK organisations, found ...
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Article
PTL launches DC governance products
Pitmans Trustees Limited (PTL) has launched a suite of products to help employers establish a governance framework for their defined contribution (DC) pension schemes.The products, called ‘Lifetime: DC governance focused on members’, is a package of tools developed specifically for DC pensions, including trusteeship, group personal pension (GPP) governance and ...
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Article
Hertfordshire Council switches staff workshop provider
EXCLUSIVE: Hertfordshire County Council has switched providers of the financial awareness workshops it offers its 33,000 employees.Its new advisor, Affinity Financial Awareness, will provide fortnightly workshops, which will alternate between the council’s main offices across the country.The free financial planning and pre-retirement workshops are available to all employees, who are ...
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Article
European Commission to simplify EU legislation
The European Commission has compiled a list of the top 30 European Union (EU) regulations it wishes to simplify, and in some cases withdraw, with the aim of making life easier for employers and employees, as well as fostering economic growth.Among those it is looking to withdraw is the proposed ...
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Article
DWP consults on pension charges
The Department for Work and Pensions (DWP) has launched a consultation into charges on workplace pension schemes.Better workplace pensions: a consultation on charging, follows the Office of Fair Trading’s (OFT) market study into defined contribution (DC) pensions, which was published in September.The DWP’s proposals include:Mandating disclosure for pension scheme members ...
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Article
Pensions could play role in cost of long-term care
Pension schemes could play a key part in meeting the costs of long-term care in retirement in the UK, according to a report by Squire Sanders.The law firm’s white paper, In sickness and in health: reforming pensions and social care, addressed the funding challenges represented by an ageing population.It recommended ...
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Article
Story Homes launches company car scheme
Cumbrian-based housebuilder Story Homes has launched a company car scheme to enhance its reward and benefits package.The scheme, which is provided by fleet management firm Lex Autolease, includes insurance, and a service and maintenance package.Around half of the organisation’s employees are eligible to participate in the scheme and can choose ...
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Article
Savers more confident, calm and optimistic
Almost half (47%) of respondents who take control and check their finances every month feel confident about their financial future, according to research by Standard Life, conducted by neuroscience research agency Mindlab and appraised by cognitive neuroscientist Dr Lynda Shaw.The Saving in mind report used both electroencephalography (EEG) techniques within ...
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Video
VIDEO: Brian Newman: Substitute engagement for involvement
Employers should substitute the word ‘engagement’ for ‘involvement’, said Brian Newman, vice president of HR at Live Nation International, during an interview with Debbie Lovewell, deputy editor of Employee Benefits.He added: “To me, it’s about using every opportunities to engage our employees in strategic direction, social events, with learning activites ...
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Article
B&Q to launch financial education plan
EXCLUSIVE: B&Q is to launch a financial education programme for employees in November.The DIY retailer’s parent company, Kingfisher, will roll out the programme as a result of auto-enrolment, which has increased participation in its money purchase pension scheme to 17,000 employees, nearly 93% of the workforce.B&Q’s financial education programme, branded ...
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Article
Jelf Employee Benefits launches paper on cancer care
Jelf Employee Benefits has launched a white paper on cancer care.The paper is designed to educate employers on the options available to help them manage their costs and care better for their employees.The white paper includes details on:NHS shortfalls.Issues with private medical insurance (PMI).Pressures on employers.Alternative cancer cover.Iain Laws, director ...
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Article
OTS prioritises ‘quick wins’ in benefits tax changes
The Office of Tax Simplification (OTS) has published a paper that prioritises its list of the 43 ‘quick wins’ around changes to the tax system in relation to benefits and expenses.The paper covers areas such as fleet management, bikes-for-work schemes and long-service awards.HM Revenue and Customs (HMRC) has undertaken an ...
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Article
RCN awarded for focus on staff wellbeing
Royal College of Nursing (RCN) has been awarded for its workplace health programme.The Royal Society of Public Health (RSPH) Health and Wellbeing Awards, which highlight achievement in the development and implementation of health promotion and community wellbeing, presented the award to RCN for its commitment to the health and wellbeing ...
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Video
Ensure Employee Benefits Award entries stand out
Linking benefits to the culture of an organisation, taking a creative approach to the language used in communications and the personal touch were all qualities in entries that impressed the Employee Benefits Awards 2013 judges.For Jane Earnshaw, head of reward and recognition at Asda, BSkyB’s iPad benefit particularly stood out, ...
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ArticleAuto-enrolment contributions will not be enough
If a median earner saves only at the minimum contribution rate of 8% of a band of earnings, required under auto-enrolment legislation, throughout their working life, they will have less than a 50-50 chance of achieving an adequate retirement income, according to research by the Pensions Policy Institute (PPI).Its report, ...
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Article
Employers want eligibility criteria altered for auto-enrolment
Half (50%) of respondents who have passed their auto-enrolment staging date said the number one change they would like to see to the legislation is the removal of the age and earnings eligibility criteria so that all UK workers would have to be auto-enrolled, according to research by law firm ...