All articles by LouronPratt – Page 27
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ArticleTPR increases pension standards and protection of members
The Pensions Regulator (TPR) has improved pension industry standards, and protected more schemes than ever before, according to its 2019-2020 Annual Report and Accounts (ARA).The ARA has showcased that the organisation has successfully completed national auto-enrolment, placing 98% of employees onto a pension scheme. Through introduced master trusts, 16 million ...
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ArticleLaing O'Rourke foregoes government job retention bonus
Construction business Laing O'Rourke is foregoing a £1,000 payment per employee under the government’s job retention bonus scheme for bringing back furloughed employees.In the July 2020 mini-Budget, the government introduced a bonus scheme, rewarding UK businesses with the payment if employees returning to work remain within the business through to ...
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ArticleHMRC publishes guidance on GMP equalisation
HMRC has published guidance on guaranteed minimum pension (GMP) equalisation, providing clarity into how schemes should distribute lump sum benefits when looking to equalise payments.This guidance has been published to explain to schemes how they can handle lump sum payments aligned with changes to GMP, after many schemes were left ...
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ArticleHouse of Lords approves Pension Schemes Bill
The House of Lords has approved the Pension Schemes Bill, which is aimed at improving protection for pension savers and ensuring more guidance for businesses. The bill will now be taken through the House of Commons later this year.The bill will ensure occupational pension schemes are accommodating for climate and ...
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ArticleDuke University increases paid parental leave to six weeks
North Carolina's Duke University has enhanced its parental leave policy, offering working parents six weeks paid leave, effective from 3 August 2020.This increase sees staff members across Duke, including graduate medical education house staff, parental leave allocation double. Since paid parental leave was introduced in 2003, employees have been able ...
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ArticleThe top 10 most read stories: 9 July - 15 July 2020
The top 10 most read stories on employeebenefits.co.uk between 9-15 July 2020 were: Ibiza offers NHS staff free holiday accommodationPricewaterhouseCoopers, NHS and IBM named best employers for equality and inclusionPrimark refuses £30 million government job retention bonusZurich UK offers 4,500 employee free Covid-19 antibody testRoyal Mail’s appeal over status of ...
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ArticleUSDirect seeks binge watcher for Discovery Channel's Shark Week
Something for the weekend: USDirect is looking to hire a shark fan to get paid to watch Discovery Channel's Shark Week 2020.The creature of the deep fan will be rewarded with a $1,000 (£794) salary and will be tasked with watching every single minute of the channel's jaw-dropping Air Jaws ...
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Article37% of employees will work from home on a regular basis
The number of employees working from home on a regular basis will increase to 37%, compared to 18% before the Covid-19 (Coronavirus) pandemic, according to research by Chartered Institute of Personnel and Development (CIPD).Its survey of 1,046 employers also found that respondents expect almost a quarter (22%) of employees to ...
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ArticleWhat will be the biggest changes to healthcare benefits in the next 12 months?
What will be the biggest changes to healthcare benefits in the next year? What is your strategy to reduce workplace absence? Has the Covid-19 (Coronavirus) pandemic changed the way your business offer healthcare and wellbeing benefits?Readers of Employee Benefits will have the opportunity to participate in exclusive Employee Benefits Healthcare ...
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ArticleKier Group returns furloughed staff to work without claiming job retention bonus
UK construction organisation Kier Group is foregoing a £1,000 payment per employee under the government's job retention bonus scheme for bringing back furloughed employees.In the July 2020 mini-Budget, the government introduced a bonus scheme, rewarding UK businesses with the payment if employees returning to work remain within the business through ...
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ArticleEXCLUSIVE: Goodlord sees 40% of employees engage with financial coaching
Lettings platform Goodlord has given its 100 employees access to a free financial coach, with 40% of employees booking an appointment within the first two weeks since the benefit was introduced in June 2020.The financial planning and coaching benefit, provided by Hatch, gives each employee a dedicated financial coach offering ...
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ArticleDelta Air Lines saves 24% in pay and benefits costs due to voluntary leave arrangement
Delta Air Lines has saved 24% in salary and benefits costs after more than 45,000 employees choose to take voluntary unpaid leave.The airline introduced the option for employees to take voluntary unpaid leave in June 2020 to help it deal with the financial ramifications of the Covid-19 (Coronavirus) pandemic.Separately, the ...
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ArticleIrish government increases paid parents' leave to five weeks
Working parents in Ireland are to be given an extra three weeks' paid leave by the Irish government.This will be backdated to apply to any child born after 1 November 2019 in order to recognise the particular challenges that parents have faced during the Covid-19 (Coronavirus) pandemic.Working parents were previously ...
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ArticleCharterhouse sees 18% increase in staff happiness due to wellbeing programme
Accountancy firm Charterhouse has seen an 18% rise in employee happiness after holding a 10-week long health and wellbeing programmeThe organisation surveyed its 31 employees prior to the launch, and following the end, of the programme, which was provided by Super Wellness. In addition to the rise in employee happiness, ...
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OpinionSonya Fraser: A closer look at guaranteed minimum pension conversion
The statutory mechanism for guaranteed minimum pension (GMP) conversion has not been widely used in practice, in part due to uncertainties around how the requirements can (or should) be met.However, now that the decision in the Lloyds case has made it clear that schemes must equalise for the effect of ...
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Article31% of employees do not feel supported by their employer while working remotely
One-third (31%) of employees feel that their employer does not support them when they work from home according to research by Unipos.The survey, published July 2020, which surveyed 300 employees, found that 83% of businesses do admit that their organisation has attempted to support them while working remotely.Over three-quarters (79%) ...
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ArticleOvo Energy reports mean gender pay gap of 20.1%
Energy organisation Ovo Energy has reported a mean gender pay gap of 20.1% for average hourly pay as at April 2019.The organisation, which currently has over 2,000 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 ...
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ArticleFrench government to give healthcare workers pay rise worth €7.5 billion
The French government is giving healthcare workers a pay rise totalling €7.5 billion (£6.8 billion) to reward them for their hard work during the Covid-19 (Coronavirus) pandemic.The deal agreed by the government and union parties; Confédération Française Démocratique du Travail (CFDT), Force Ouvrière (FO) and General Confederation of Labour (CGT), ...
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ArticleBrewdog reports mean gender pay gap of 6.3%
Beer organisation Brewdog has reported a mean gender pay gap of 6.3% for average hourly pay as at April 2019.The organisation, which currently has over 697 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 ...
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ArticlePrimark refuses £30 million government job retention bonus
Fashion and homeware retailer Primark has made the decision to not use the government's job retention bonus scheme during the Covid-19 (Coronavirus) pandemic, foregoing a £30 million payment.In its July 2020 mini-Budget, the government introduced a bonus scheme, rewarding UK employers with a £1,000 payment for each furloughed employee it ...