All articles by LouronPratt – Page 26
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ArticleKPMG to consult on pension contribution cuts
Professional services organisation KPMG is consulting with employees on proposed cuts to pension contributions in order to deal with the financial ramifications of the Covid-19 (Coronavirus) pandemic.If agreed, the proposed decrease would affect 20% of KPMG's 16,000 UK employees, who are currently saving in to a flexible retirement growth pension ...
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ArticleCatalyst repays government for cost of job retention scheme
Housing organisation Catalyst is repaying back the total cost of the furlough payments it has received from the government during the Covid-19 (Coronavirus) pandemic.The organisation placed 101 employees on the government's job retention scheme in March 2020 but has since returned 76 employees back to work, with the majority of ...
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ArticleScottish government offers healthcare workers 24 hour mental health support
The Scottish government has introduced a mental health helpline for healthcare and social care workers to support their mental wellbeing during the Coronavirus (Covid-19) pandemic.The national helpline, NHS 24, which is available 24 hours a day, seven days a week, gives care workers the opportunity to seek mental health advice ...
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Article44% of employees are more efficient working from home
Two in five employees (44%) believe they are more efficient working form home, according to research by ENEI.The research of 113 employees during the Coronavirus (Covid-19) pandemic, published July 2020, also found that just over a quarter (27%) said that the work they produce is of a higher quality while ...
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Case StudiesUniversity of Lincoln launches financial wellbeing website during Covid-19 pandemic
Financial education for employees has always been a top priority for the University of Lincoln. At the height of the Covid-19 (Coronavirus) pandemic, the organisation launched a new portal to ensure that employees have access to sources of financial education during this time of uncertainty.The website, Lifechoice, was launched in ...
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OpinionMatthew Connell: Employers have access to tools that support employee financial wellbeing
An employer’s relationship with its employee is an important one and goes beyond a focus on day-to-day work priorities. With the increased focus on health and wellbeing over recent years, it has meant this relationship is more important than ever.Building an open and trusting relationship where employees can feel comfortable ...
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AnalysisWhat support can be given to employees going through difficult financial times?
Need to know: The Covid-19 pandemic has placed many employees in difficult financial situations.Employers must break the stigma of financial wellbeing to communicate with their employees.Financial education and tools can support employees who are struggling with finances during this time.The Covid-19 (Coronavirus) pandemic has created an unprecedented amount of financial ...
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Article16% of employees are worried about their everyday finances
One in five (16%) UK employees are currently worried about their everyday finances (June/July 2020) compared to 28% in April 2020, according to research by Nudge.Its survey of 300,000 employees also found that the percentage of employees worrying about financial budgeting has also decreased, falling from 30% to 14% in ...
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ArticlePremaberg Holdings completes £5 million bulk annuity transaction
UK manufacturer Premaberg has completed a £5 million bulk annuity buy-in of Premaberg Holdings Retirement Benefits Plan with Just Group.The deal, which was completed in conjunction with Mercer, is the first step to securing the defined benefit (DB) pension retirement funds of the 64 members that will be affected by ...
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ArticleAO World introduces profit share scheme for 3,000 staff
Online retailer AO World is to introduce a profit share scheme for its 3,000 employees.The incentive, which is set to be implemented during the 2020/21 financial year and has been named the Value Creation Plan (VCP), will give employees the opportunity to receive an extra payment, if any value is ...
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OpinionRosalind Connor and Aneliese Sweeney: Regulator's guidance for consolidators is just the beginning
The Pensions Regulator (TPR) has published guidance for defined benefit (DB) consolidators, setting out the framework for their authorisation and regulation.Specific consolidator legislation had been expected to be included in the Pension Schemes Bill which has now passed through the House of Lords. However, following the omission of consolidators from ...
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ArticleBellcare Domiciliary becomes an accredited living wage employer
Cumbrian care organisation Bellcare Domiciliary has been accredited as a living wage employer by the Living Wage Foundation.The organisation is now committed to paying its 130 employees a minimum of £9.30 an hour, with senior care staff seeing their pay increase to £9.70 per hour, from August 2020. This sees ...
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ArticleRoyal Bank of Scotland extends remote working policy to 2021 for 50,000 employees
Scottish bank Royal Bank of Scotland (RBS) is extending its remote working policy until 2021 for 50,000 employees.The extension has been put in place to ensure the safety and wellbeing of the large proportion of its employees who are currently home-based. The organisation is also ensuring all of its staff ...
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ArticleGovernment increases pay for 900,000 public sector workers
The government is to give 900,000 public sector workers in the UK a 2%-3.1% pay rise to recognise them for their efforts during the Covid-19 (Coronavirus) pandemic.The government will increase the salary of teachers by 3.1% and doctors by 2.8%, while police, prison officers and national crime agency staff will ...
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AnalysisWhat are the latest trends in company car schemes?
Need to know:Tax changes for low emission vehicles has increased the demand on company car schemes.Employers may benefit from the perks of investing in an electric car scheme.Due to the impact of the Covid-19 pandemic, organisations may be rethinking their company cars strategy.Trends in company car schemes have been shifting ...
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OpinionDave Hedges: Optimising the benefit position of the company car
The idea of being provided with a brand-new car, courtesy of an employer with no initial costs or maintenance to worry about, may seem an attractive proposition. However, there are a number of points to consider from a tax perspective.When an employee is provided with a company car, which is ...
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OpinionAlastair Kendrick: Who really benefits from electric car tax incentives?
It is important to note that the benefit in kind (BIK) on electric vehicles applies only for the year to 5 April 2021, after which we will see the rate increase year on year. Therefore in determining the viability of moving across to an electric car, it is essential to ...
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ArticleAsos repays government for cost of employee furlough scheme
Online retailer Asos is repaying the money it has received through the government's job retention scheme (GJRS).The organisation, which furloughed 1,000 employees in April 2020, saw a 10% growth within the business in June, despite the financial ramifications that the business faced during the height of the Coronavirus pandemic in ...
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ArticlePost Office reports mean gender pay gap of 16%
Post Office has reported a mean gender pay gap of 16% for average hourly pay as at April 2019.The organisation, which currently has over 5,000 employees, reported its gender pay gap data in line with the government’s gender pay gap reporting regulations.The reporting regulations require organisations with 250 or more ...
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ArticleEmployers can use furlough scheme during contractual notice periods
Guidance updated by HM Revenue and Customs (HMRC) confirms that employers can still claim for furlough payments if an employee has been put on a full notice period.The original guidance stated that organisations could claim the statutory notice period under the scheme, however, an amendment has made it clear that ...