All articles by Jennifer Paterson – Page 55
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Pension engagement linked to communication
The investment employers make in communicating pension schemes to their employees has a direct effect on their attitude towards a pension and contribution levels regardless of their salary, according to research conducted by London School of Economics (LSE) and commissioned by Thomsons Online Benefits.The impact of a total reward approach ...
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Edenred to launch mobile discounts scheme
Edenred is to launch a mobile employee discounts scheme, which will allow users to find discounts on the move via their smartphones and tablets.The new scheme will work through a mobile website, which will allow employees to check for discounts when they are out and about. It features a location-based ...
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Propellernet rewards staff with dream scheme
EXCLUSIVE: Propellernet has introduced a staff motivation scheme to help employees achieve their dreams.The scheme, Dream Balls, is about ensuring the social media organisation’s 42 employees share in its collective success.Nikki Gatenby (pictured), managing director at Propellernet, said: “Our whole ethos, our whole reason for being, is enjoying the workplace. ...
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A million UK workers now auto-enrolled
The millionth UK employee has been auto-enrolled into a workplace pension scheme.The landmark figure is included in the monthly auto-enrolment registration report published by The Pensions Regulator.The Travis Perkins Group was among the employers that registered when the one million-employee mark was reached. The builders merchants has automatically enrolled around ...
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Ageing population will cost the UK
The UK’s public finances will come under pressure in the long term as a result of an ageing population, according to a report by the Office of Budget Responsibility (OBR).Its Fiscal sustainability report 2013, which draws on the 2011-2012 Whole government accounts, projected that the government would end up having ...
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Asda awards staff for long service
More than 1,000 Asda employees have been awarded for a combined 47,135 years of service at the supermarket chain’s Big Anniversary event on 16 July.Its annual long-service celebration, which is in its 13th year, recognises staff who have 25, 30, 40 and 45 years of service with the organisation.The long-serving ...
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HSBC closes workplace pensions division
HSBC has confirmed the withdrawal of its adviser-facing Workplace Retirement Services proposition less than three years after its launch.As reported on 17 July in Employee Benefits’ sister publication, Money Marketing, the global bank will no longer look to distribute corporate pensions through intermediaries.HSBC Workplace Retirement Services was launched in November ...
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Flexible working could generate £8bn for UK economy
UK organisations could enjoy cost reductions and productivity gains of up to £8.1 billion by optimising their approach to flexible working, according to research by think tank RSA and Vodafone UK.The Flex factor report, based on a national survey of 2,828 employees and employers, found that more than three-quarters (77%) ...
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ISS uses Nest to comply with auto-enrolment
Employment business ISS has launched the National Employment Savings Trust (Nest) to comply with its auto-enrolment duties.From 1 July, all eligible employees had 1% of salary deducted, which ISS matched. In line with auto-enrolment legislation, employees’ pension contributions will rise to 3% of salary by 2017 with ISS adding another ...
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EAP market grows by 69% in five years
The employee assistance programme (EAP) market has grown by 69% since 2008, according to a report by the UK Employee Assistance Professionals Association (UK EAPA).Its first EAP Market watch report, which reviews the reach and coverage of EAPs in the UK, found that the EAP sector is worth £69.13 million ...
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BITC enhances engagement and wellbeing guidelines
Business in the Community (BITC) has launched a new version of its public reporting guidelines on employee engagement and wellbeing.The guidelines, which were first launched in May 2011 to help organisations implement consistent reporting on employee engagement and wellbeing, now also include detail informed by the expectations of the investor ...
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Tax relief does not encourage pension saving
Pensions tax relief does little to encourage pension saving, particularly among low and medium earners, according to a report by the Pensions Policy Institute (PPI).The report, Tax relief for pension saving in the UK, which has been sponsored by Age UK, the Institute and Faculty of Actuaries, Partnership and the ...
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Royal British Legion extends eyecare scheme
The Royal British Legion Industries (RBLI) is extending its eyecare voucher offering to qualifying members of staff in its sign manufacturing and wood fabrication factories.The vouchers, provided by Specsavers Corporate Eyecare, will also be offered, free of charge, to all ex-military personnel associated with the charity’s work in Aylesford, Kent.Geri ...
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TPR publishes code on trust-based DC pensions
The Pensions Regulator (TPR) has published a revised code of practice on trust-based defined contribution (DC) pension schemes.The code, which sets out practical guidance to help trustees meet the legislative requirements for running trust-based DC schemes, has been laid before Parliament and the Northern Ireland Assembly.It is expected to come ...
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ArticleGovernment needs holistic view of retirement
There is no over-arching programme or single accountability for encouraging people to save for retirement, according to a report by the National Audit Office (NAO).Its Government interventions to support future retirement income report highlights the significant consequences for the taxpayer as people live longer, spend longer in retirement, and have ...
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OFT publishes progress update on DC pensions market
The Office of Fair Trading (OFT) has published a progress update on its study into the defined contribution (DC) pensions market.It has collected and reviewed evidence on the sector, and will next explore certain issues that have arisen during the evidence review so far.On the basis of the work it ...
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ArticleGlobal pay budgets decline
Year-on-year salary budgets declined in the vast majority of countries surveyed, including the UK, according to research by WorldatWork.The WorldatWork 2013-2014 Salary budget survey, which had 5,027 responses from 17 countries representing nearly 15 million employees, found that the US was the only country with an actual increase in salary ...
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Top 10 most read stories this week
1. EXCLUSIVE: Coca-Cola sees 12% auto-enrolment opt-out2. Asda staff to share £61.7m sharesave payout3. Nest restrictions to be lifted in 20174. EXCLUSIVE: Most common health benefits offered to expats5. Royal Mail staff set to receive £2,000 share payout6. Cass Business School research: Lack of benefits communications costs UK £2.7bn7. EMI ...
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JCT600 sees 56% take-up of voluntary benefits plan
EXCLUSIVE: Family-owned car dealership JCT600 has seen 56% of its 1,350 employees take up its online voluntary benefits scheme since it was introduced in February 2013.The Just Rewards scheme, which is provided by Personal Group, is part of an ongoing initiative to give something back to employees.Emma Cummins, secretary to ...
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Most retirees will receive less than the single-tier pension
Only one in five (17%) UK workers closest to retirement will be entitled to a state pension worth exactly the single-tier amount, according to a report by the Institute of Fiscal Studies (IFS).Its report, A single-tier pension: what does it really mean?, found that 23% of those closest to retirement ...