News – Page 61
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ArticleOff-payroll working reforms to be extended to private sector
Read more updates on the Autumn Budget 2018 in Tuesday’s Daily News emailAutumn Budget 2018: The government is to extend reforms to the taxation of off-payroll working to the private sector, Chancellor Philip Hammond (pictured) has announced in his 2018 budget.The changes to the rules, known as IR35, have already ...
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ArticleGovernment to increase tax-free personal allowance to £12,500
Read more updates on the Autumn Budget 2018 in Tuesday's Daily News emailAutumn Budget 2018: The government has today (29 October 2018) announced a commitment to increase the tax-free personal allowance to £12,500 and the higher-rate threshold to £50,000 in April 2019.The current personal allowance stands at £11,850, and the ...
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ArticleLloyds Banking Group ordered to equalise pensions for men and women
The High Court has ruled that Lloyds Banking Group must equalise its guaranteed minimum pensions (GMP) for men and women, in a landmark judgment that could cost major pension schemes £15 billion.The case relates to GMP schemes that ran between 1990 and 1997 for members who contracted out of the ...
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ArticleWorkchain staff fined and sentenced for illegal pension opt-outs
Directors and senior staff at Derby-based recruitment organisation Workchain have received suspended prison sentences, and have been ordered to pay more than £280,000 in fines for plotting to illegally opt workers out of their pension scheme.Owners and directors Phil Tong and Adam Hinkley encouraged five senior Workchain staff members to ...
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ArticleTwo-thirds of employees feel benefits package is not applicable to them
HR professionals in large UK organisations tend overestimate employee satisfaction with rewards and benefits programmes, according to a report by Hawk Incentives.Surveys in September 2018 by Sapio Research, which canvassed 500 employees and 103 HR professionals, revealed that around half of employees (52%) said they are happy with the benefits ...
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ArticleEnterprise Rent-A-Car announces new benefits for working parents
UK employees of Enterprise Rent-A-Car are to receive a new family support benefits package through a partnership with childcare search organisation Parental Choice.The range of benefits, available to Enterprise Rent-A-Car's 5,000 UK-based employees from the end of November 2018, includes an interactive nursery search. Designed and implemented by Parental Choice, ...
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ArticleMorrisons loses High Court appeal over breach of payroll data
Supermarket chain Morrisons has lost a challenge to a High Court ruling that found it partly liable for a data breach leading to payroll data of around 10,000 staff being posted online.Andrew Skelton, who was senior auditor at the organisation's Bradford headquarters, posted the workers' names, addresses, bank account details ...
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ArticleTPR bans masterminds of £13.7m pension scam from being trustees
The individuals identified as the masterminds behind a £13.7 million pension scam have been banned from being trustees of pension schemes.David Austin, Susan Dalton, Alan Barratt and Julian Hanson ran a scam that cheated 245 people out of their pension savings after the members were persuaded to transfer funds into ...
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ArticleGlasgow City Council workers strike over equal pay claims
Image credit: UnisonMore than 8,000 Glasgow City Council (GCC) employees are staging a 48-hour strike today (23 October 2018) over the lack of progress on equal pay claims.The workers, who are members of the GMB and Unison unions, began the industrial action at 7am today, leading to the closure of ...
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ArticleKavitha Sivasubramaniam: Championing financial wellbeing at work
As our Financial Wellbeing Week, in association with Wealth at Work, draws to a close, it is time to reflect on some of the trends and issues currently shaping this area of the benefits market.Many employers recognise that financial stress can have a significant impact on an individual’s mental and ...
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ArticleFCA and TPR launch joint strategy to tackle 'fundamental' pensions challenges
The Financial Conduct Authority (FCA) and The Pensions Regulator (TPR) have launched a joint regulatory strategy, identifying issues contributing to inadequate saving for retirement and outlining priorities for addressing fundamental challenges in the pensions sector.The joint strategy sets out how the FCA and TPR will work in tandem in the ...
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ArticlePositive, personal language is best for pension communications
A study by investment management organisation Invesco into the language of defined contribution (DC) pension schemes has identified four key language principles for communicating with employees about their pensions.Research for the report, ReDefined contribution schemes, published on 18 October 2018, included interviews with heads of pension schemes, focus groups and ...
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ArticleTaking an overseas job adds an average of $21,000 to a worker's salary
The average individual taking an overseas job adds $21,000 (£15,995.70) to their annual salary when they move, according to research commissioned by HSBC Expat.The survey of 22,318 expatriates from 163 countries and territories, carried out by YouGov in March and April 2018, revealed that 45% of respondents were receiving more ...
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ArticleNASUWT staff begin series of one-day strikes over pay and pensions
Image credit: GMBAround 140 employees of the NASUWT teaching union are staging a series of three one-day strikes over pay and changes to pensions.The industrial action, which starts today, is being taken by members of the GMB union, with further strikes planned for 5 November and 9 November.GMB regional organiser ...
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ArticleEXCLUSIVE: 53% favour employers that positively contribute to their wellbeing
EXCLUSIVE: More than half (53%) of respondents favour employers that positively contribute to their wellbeing, even if it means they earn less money, according to research by actuarial firm Hymans Robertson and lifestyle insurance organisation Yulife.The Closing the wellbeing gap: exploring the interaction between work, health and wellbeing report, which ...
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ArticleTPR fines Salvus trustees £5,000 over non-investment of £1.4m in pension contributions
Four trustees of Salvus Master Trust have been fined a total of £5,000 by The Pensions Regulator (TPR) for failing to promptly invest members’ savings for three years.A master trust is an occupational pension scheme that provides money purchase benefits for multiple, unconnected employers. The trustees were in breach of ...
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ArticleEXCLUSIVE: JLT Group launches holistic wellbeing programme for UK employees
EXCLUSIVE: Benefits provider JLT Group has launched a wellness programme focusing on the mental, physical and financial wellbeing of its 3,900 employees in the UK.The programme includes the implementation of mental health first aiders across all 19 offices nationwide, accompanied by mental health and stress awareness training for line managers.The ...
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ArticleEXCLUSIVE: ACCA launches mental health resilience workshops for wellbeing champions
EXCLUSIVE: Global professional accountancy body ACCA has launched pilot mental health resilience workshops for selected staff in London and Glasgow.The workshops, the first of which took place on 19 September 2018, offer advice on the mental and physical steps employees can take to promote wellbeing in the workplace. They are ...
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ArticleCourt of Appeal hearing set for Asda shop-floor workers' pay claim rulings
A Court of Appeal hearing will begin on 10 October over Employment Tribunal (ET) and Employment Appeal Tribunal (EAT) pay claim rulings that Asda shop-floor workers have comparable roles to their colleagues in the supermarket’s distribution centres.The three-day hearing concerns the first of three stages in the equal pay case. ...
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ArticleLippert Components fined $338,151 for overtime pay violations
Indiana-based vehicle parts manufacturing organisation Lippert Components has been ordered to pay $338,151 (£258,959.42) in overtime back pay and liquidated damages following an investigation by the US Department of Labor’s Wage and Hour Division (WHD).Investigators uncovered violations of the Fair Labor Standards Act (FLSA) relating to 1,199 current and former ...