All articles by Marianne – Page 43
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Article
Tesco closes DB pension and introduces new flex package
Tesco has confirmed plans to close its defined benefit (DB) pension scheme and to introduce a flexible benefits package for store workers to help the employer reduce annual costs of up to £250 million.The supermarket announced in a trading statement to the London Stock Exchange yesterday that it is going ...
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ArticleVolvo introduces driver eyecare vouchers
Volvo Car UK has introduced eycare e-vouchers for employees who drive at work. The car manfacturer started offering the e-vouchers, provided by Specsavers Eyecare, in November 2014. Employees who use the e-voucher, which covers the cost of a full eye examination, can print it out or present it on a ...
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Article??Germany catches up with the UK on executive pay
German companies are catching up with those in the UK when it comes to executive pay levels, according to an annual study by Vlerick Business School’s Executive Remuneration Research Centre.Its report, which surveyed 512 companies in the UK, Germany, The Netherlands, France and Belgium, found that among those with assets ...
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ArticleKey tax and legislative changes that took place in December
The government announced plans to simplify pensions auto-enrolment to ease the burden on employers. The Department for Work and Pensions’ consultation, Technical changes to automatic-enrolment: consultation on draft regulations, set out changes to legislation that include the introduction of an alternative quality requirement for defined benefit (DB) pension schemes.An Employment ...
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ArticleKey points from the 2014 Autumn Statement
The Chancellor said the government had accepted 51 of 58 recommendations made by the Office of Tax Simplification (OTS) that were aimed at making the taxation of employee benefits and expenses more straightforward. This will help to reduce the administrative burden on employers, saving an estimated £20 million a year ...
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ArticleEmployee Benefits Awards entry deadline approaches
The Employee Benefits Awards 2015 entry deadline is just six days away on Monday 12 January, so be sure to submit your entry as soon as possible.Any entries received beyond this date will not be accepted.The awards offer 23 categories for benefits professionals to showcase, and gain recognition for, the ...
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ArticleJLT Ireland acquires Liberty Asset Management
Jardine Lloyd Thompson Ireland Holdings (JLT Ireland) has acquired Liberty Asset Management Limited from Friends First Life Assurance Group. JLT provides insurance, employee benefits advice and brokerage, while Liberty advises organisations and trustee boards on employee benefit arrangements and individuals on wealth management.The acquisition is expected to create a strong ...
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ArticleDWP publishes Fit for Work guidance
Guidance for employers participating in the government’s Fit for Work scheme clarifies the tax exemption available on the cost of medical care for employees who are off sick.Fit for work, guidance for employers, published by the Department for Work and Pensions (DWP) on 2 January, confirms that the tax exemption ...
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ArticleGovernment names guidance guarantee service
The government has today (12 January) revealed that its guidance guarantee service will be called Pension wise. The creation of Pension wise follows measures announced in the 2014 Budget to provide access to free and impartial guidance on how savers can make the most of the new pension freedoms, which ...
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ArticleHalf of employers say their organisation is great place to work
Just under half of employer respondents (465) believe their organisation is a great place to work, although just 31% of employee respondents would agree, according to research by MetLife UK.Its 12th annual UK Employee benefits trends survey, which surveyed 300 employers and 301 employees, also found that 39% of employer ...
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ArticleLookers launches employee discounts scheme
Lookers Motor Group has introduced an employee discounts scheme for its more than 5,000 employees. The vehicle marques organisation launched its Nicer Rewards scheme, which is provided by Personal Group, on 12 January 2015.The scheme includes more than 8,000 retail discounts from high street retailers, such as Argos, Asda, Sainsbury’s ...
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ArticlePension freedoms popular with DC savers
The new pension freedoms are popular with employees who have a defined contribution (DC) pension, according to a report published by the Pensions Policy Institute (PPI).Its Supporting DC members with defaults and choices up to, into, and through retirement: qualitative research with those approaching retirement report revealed that two-thirds (66%) ...
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ArticleCity Link staff face non-payment of December pension
City Link will not be able to provide employees with their December pension payments after going into administration on 25 December.The courier’s workforce received defined contribution (DC) pension payments of £1,041 per calendar month, but will not receive the December bill due this month.A spokesman from City Link said: “City ...
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AnalysisTop tips for boosting take-up of car salary sacrifice schemes
If you read nothing else, read this…Employers should have clear objectives for their scheme. Scheme risks include the early termination of contracts.Staff may be more engaged with a scheme that offers low CO2-emission cars .Offer a wide range of cars They can start by offering employees a wide range of ...
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ArticleLess than half of employers provide at-retirement support
Less than half (45%) of respondents provide staff with support at retirement, according to research by Close Brothers Asset Management.Its study of 218 UK employers also found that the most popular way of supporting employees at retirement is through workplace seminars (26%), while 23% of respondents provide access to information ...
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ArticleEmployers offer flexible working to support ageing workforce
Over a quarter of employers (27%) have introduced flexible-working initiatives to meet the needs of their ageing workforce, according to research by Group Risk Development (Grid).The group risk employer research study, which surveyed 500 UK businesses and 1,000 employees, also found that 19% of employers are modifying roles and 16% ...
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Article65% manage absence through HR and line managers
Two-thirds (65%) of respondents manage absence through the combined efforts between HR and line managers,according to research by HR, talent management and payroll software provider Midland HR.Its Understanding absence management study, which surveyed more 120 HR professionals, also found that 85% rely on reports to assist with communicating about the ...
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ArticleNearly half of over-50s want to keep working post 65
Almost half of employees (48%) over the age of 50 want to keep working between the age of 65 and 70, according to new research from the Department for Work and Pensions (DWP).The independent YouGov study, which surveyed more than 2,000 retired and non-retired people aged over 50, also revealed ...
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Article21% say their employer has contacted them about the pension freedoms
Less than a quarter (21%) of UK employees stated that their employer has contacted them regarding the new pension laws coming into force in April 2015, according to research from employee benefits consultancy Portus Consulting.The study, conducted online by Consumer Intelligence, surveyed 1,154 staff over 18 in December 2014, also ...
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ArticleEmployee Benefits digital magazine – January 2015
Read this month’s articles in the digital magazine by clicking the links below, or read the online versions by using the links to the right under ‘Related articles’ (these articles will go live in stages during January 2015).There is a growing trend among employers to transform reward and pensions specialist ...