All articles by Jennifer Paterson – Page 57
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Article
Payroll giving donations increase by £6m
Donations to charity directly from pay have risen by £6 million to £124 million since 2012, according to figures from HM Revenue and Customs.The figures also show that the number of staff using a payroll-giving scheme has reached a four-year high at 750,000.Meanwhile, average donations have risen by 40p per ...
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Article
PWC launches DB pensions risk analytics product
PricewaterhouseCoopers (PWC) has launched a pensions risk analytics product that allows employers and trustees to manage, monitor and take decisions about their defined benefit (DB) pension issues.Its Skyval product models pension scheme assets and liabilities accurately and in real time.It has been developed in conjunction with financial technology organisation PensionsFirst ...
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Analysis
Top tips for minimising group risk benefits spend
If you read nothing else, read this:Cut the cost of group risk provision by taking a holistic view of benefits.Consider using a master trust or multinational pooling.Be aware of added benefits to ensure there is no overlap in benefits provision.Cost was cited as the main influence on the decision to ...
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Article
Employers should do more around charity work
Just under half (43%) of respondents felt their employer should be doing more to help charities in their local community, according to research by fundraising platform Give as you Live.Its Donor survey, which questioned more than 1,000 UK workers, found that 52% of respondents said their organisation does not have ...
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Article
New group risk website looks to provide added value
A group risk website has been launched as a conduit between intermediaries and insurers in the industry.The Group Risk Connect site, which launched on 1 July, has partnered five group risk insurers: Friends Life, Generali, Legal and General, Omnilife and Zurich Life.The website is designed to help educate users and ...
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Article
SMEs are not prepared for auto-enrolment
Nearly two-thirds (60%) of small and medium-sized enterprises (SMEs) surveyed have not budgeted for the additional costs that can be incurred as a result of pensions auto-enrolment, according to research by law firm Irwin Mitchell.Its research, which questioned 257 SMEs, found that nearly 40% of respondents said their payroll system ...
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Article
Bonuses for managers up in 2013
Bonuses paid to managers in the first months of 2013 comprised around 30% of salary, compared to 21% of salary during the corresponding period in 2012, according to research by Incomes Data Services (IDS).However, its Executive compensation review found, however, that there is a divergence between the increases in bonuses ...
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Article
Withers raises pensions take up
EXCLUSIVE: Global law firm Withers has increased its pensions take up after introducing an online flexible benefits plan and re-branding the benefits offering for its 370 UK employees in April.Membership of its group personal pension (GPP) scheme has increased to 85%, from 265 members in December 2012 to 308 members ...
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ArticlePension saving plummets to record low
The proportion of UK employees who are active members of a workplace pension scheme has plummeted to a record low of 46%.This is the lowest level since records began in 1997, according to research by the Office for National Statistics (ONS).The ONS’s Annual survey of hours and earnings research also ...
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Article
Trust is key to wellbeing and performance in workplace
Trust in the workplace is the key to the wellbeing of employees and the performance of an organisation, according to a report by Working Families and Unum.The report, Trust: the key to building wellbeing and performance in the workplace, which was prepared by charity Working Families and independent consultant Susanne ...
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Article
William Grant funds pay rises with PMI savings
EXCLUSIVE: William Grant and Sons has switched providers of its private medical insurance (PMI) scheme and made adjustments to the new scheme to produce cost savings which it will use to give higher pay rises to its UK staff.The whisky distiller chose to enter into a tender process to switch ...
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Article
Tayto Group launches fleet management system
Tayto Group has launched a tracking, performance monitoring and fuel management system across its 117-strong company car fleet.The system, which is provided by TomTom, adds improved visibility for the snack manufacturer’s mobile team of sales, management and distribution staff.The system enables information about how cars are driven to be collated ...
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Article
Employer-paid PMI on the increase
The use of employer-paid private medical insurance (PMI) policies in the UK increased by 2% to 2.98 million in 2012, according to research by healthcare intelligence provider Laing and Buisson.Its Health cover UK market report 2013 found that, of the 58,500 additional company-paid policies, 35,700 were self-insured by employers and ...
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Article
Employers do not see need to invest in retirement education
Almost three-quarters (72%) of respondents do not see the need to invest in retirement education for employees, according to research by Jelf Employee Benefits.Its research, which questioned 124 employers, found that only 28% of respondents think that the removal of the default retirement age (DRA) will lead to an increased ...
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Article
EDF Energy and HMRC named inclusive employers
EDF Energy and HM Revenue and Customs (HMRC) were awarded for their equality and inclusion policies at the Employers Network for Equality and Inclusion (ENEI) Awards on 17 July.The two organisations were awarded top honours for the private sector and public sector, respectively, while housing association Amicus Horizon was named ...
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Article
Current pension system not fit for purpose
Only a fifth (21%) of respondents believe the UK’s current pension system is fit for purpose, and are satisfied with existing defined contribution (DC) and defined benefit (DB) schemes, according to research by Aon Hewitt.Its research, which polled more than 750 employers, looked at the potential impact of the government’s ...
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Article
Wilkinson to close final salary pension
Wilkinson is to close its final salary pension scheme to future accrual as part of its plans to comply with the government’s auto-enrolment legislation.The scheme, which has approximately 1,300 active members, will be closed from 31 July. A further 400 retired Wilkinson employees will not be affected.The discount retail chain ...
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Article
Church of England to investigate pension fund
The Church of England is to launch an investigation into its own pension fund after the Financial Times uncovered that it had ties to payday lender Wonga.According to the church, the total amount of exposure to Wonga is £75,000 and the investment in the fund came about through commitments made ...
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Article
Half of default fund members chose this investment option
Nearly half (49%) of respondents in their defined contribution (DC) pension scheme’s default fund chose to be there and did not actually ‘default’ into it, according to research by State Street Global Advisors, the asset management business of State Street Corporation.Its research, which surveyed 1,002 full-time employees belonging to their ...