Opinion – Page 34
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OpinionRosalind Connor: Is the Corporate Governance and Insolvency Act 2020 a problem for pensions?
The Corporate Governance and Insolvency Act 2020 received Royal Assent at the end of June, having been pushed through Parliament in record time. There had been much concern in the pensions world that this would damage the position of defined benefit (DB) pension schemes run by employers facing uncertainty, or ...
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OpinionLovewell's logic: Should staff expect to be paid during quarantine?
On Saturday 25 July 2020, the UK government announced that, from 26 July, anyone entering the UK from mainland Spain, the Balearics or the Canary Islands would be required to quarantine for 14 days, following a rise in cases in Covid-19 in these regions.At the time numerous Britons were already ...
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OpinionLouise Lawrence: What will be important for employers' talent strategies post Covid-19?
If employers do not focus on their flexible working offering, they will lose out on the best talent. Nearly three-quarters of the 1,000 employees and 500 employers we surveyed in partnership with YouGov in January 2020 told us that flexible working was important to attracting and retaining the best talent.It ...
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OpinionMichal Izak: How employers are preparing for further waves of Covid-19
It is not always easy to decouple employers’ response to the ongoing Covid-19 (Coronavirus) crisis from their long-term planning in case the situation aggravates. However, many employers are putting in place three main measures, or combinations thereof, to be insulated from the direct effects of a potential second wave of ...
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OpinionWendy Tomlinson: The 'benefit' of returning to work
The working atmosphere and environment are significantly different from what we are used to. Agile working and more flexibility are now benefits that employees can expect as standard. Something theoretical before Covid-19 (Coronavirus) is now being applied on a global scale.How employees rate their employers on the response to the ...
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OpinionLovewell's logic: When should staff return to the office?
Have you returned to your usual workplace yet? While some businesses, such as Royal Bank of Scotland, have announced an extension to their remote-working policies, others are preparing for more employees to return to the office following the government’s announcement that employers can bring staff back to the workplace if ...
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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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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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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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OpinionLovewell's logic: Is the UK truly ready for a new long-term way of working?
Over the past few months, much has been written (by myself included) around what the sudden move to remote and flexible ways of working could mean in the long term. As some organisations now begin to reopen their doors, while others extend office closures, these conversations are beginning to move ...
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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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OpinionEd Dickinson: Addressing the causes of poor employee mental health
The impact of Covid-19 has had an unprecedented impact on employee wellbeing. While there have been some positive effects, the negative impacts pose both legal and commercial risks. Productivity drops while disputes rise. Proactivity is key to tackling such threats.The most obvious risks relate to health and safety, and discrimination. ...
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OpinionLovewell's logic: Is the government offering enough support?
In this week’s mini-Budget, Chancellor Rishi Sunak announced the government’s plans to introduce a job retention bonus to support employers with returning staff to work following furlough. Under the terms of the scheme, for every employee that returns to work and is paid above the lower earnings limit of £520 ...
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OpinionNeil Bowden: Employers can manage pension costs when emerging from lockdown
The first step to mitigating pension costs might be a simple one: surprisingly, according to government figures published in May 2020, 40% of employers have not claimed for the national insurance and pension contributions elements available under the Coronavirus Job Retention Scheme (CJRS).If an employer is concerned about their pension ...
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OpinionJames Davies and Amy Cooper: How are employers continuing to deal with Covid-19?
The Covid-19 (Coronavirus) crisis presents businesses with multiple challenges, including how to continue to get the best out of their workforce while keeping them safe.Many employees have had to juggle childcare and schooling responsibilities with working in makeshift home offices. The government’s furlough scheme has, meanwhile, helped preserve jobs where ...
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OpinionJennifer Hill: Employers have responsibilities when helping staff return to the workplace
As lockdown is relaxed during the Covid-19 (Coronavirus) pandemic, employers need to plan carefully for employees’ return to the workplace.Crucially, employees should continue to work from home if they can, and employers should take all reasonable steps to help employees to do so.Employers should also consider the guidance issued by ...
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OpinionLovewell's logic: Preparing for life post-lockdown
Saturday 4 July will see a large number of businesses open for the first time in several months as the government continues to ease lockdown. Overall, it has been estimated that nearly two-thirds of Britons will return to the workplace by the end of August.While this is undoubtedly a positive ...
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OpinionSamantha Woodham: Supporting employees through a divorce
42% of marriages end in divorce according to research by the Office for National Statistics, published in December 2012.If you had a blank sheet of paper, it would be hard to devise a worse process for navigating the legal side of a separation than our adversarial system. It pits couples ...
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OpinionDr Holly Blake: Remote healthcare options for employees are rapidly expanding
Britain’s employers lose over £81 billion each year to sickness absence, according to Vitality's Britain’s Healthiest Workplace report, published in April 2019. This can be crippling to businesses in ‘normal’ times, but the unprecedented spread of Coronavirus has brought this into even greater focus.Coupled with an increase in remote working ...