research – Page 34
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Incorrect staff status could lead to penalities
Employers should be aware of the areas HM Revenue and Customs (HMRC) will look at when considering whether a worker is classified as self-employed or as an employee.If an employer treats a worker as a freelancer or contractor when they are, in fact, an employee, HMRC could require the employer ...
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Article
Consultation launched on employee-owner scheme
The government has launched a consultation that sets out its plans for a new employment status, called employee-owner.The move follows Chancellor George Osborne’s proposal on 8 October that employee-owners would be able to own shares in their company worth between £2,000 and £50,000, which will not be subject to capital ...
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IBM loses High Court pensions case
IBM will have to rectify the trust deeds and rules for its UK defined benefit (DB) plan to allow active members to retire from age 60 without the organisation’s consent or reduction in their pension, following a High Court judgement.The case was brought before the courts by the pension scheme’s ...
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Owner-employee contract a bad idea
The majority (63%) of respondents think the government’s proposal for owner-employee schemes is a bad idea, according to a poll by YouGov.The employee-owner schemes, which were announced by Chancellor George Osborne on 8 October, would require employees to give up employment rights, such as wrongful dismissal, the right to redundancy ...
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Owner-employee contract could breach EU laws
A proposed new employment contract that would require employees to give up employment rights for shares in their organisation could still leave employers open to claims for unfair dismissal under European regulations.The owner-employee contract, announced at the Conservative Party conference on 8 October by Chancellor George Osborne, could see employers ...
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AWR have increased admin costs
A year on from their introduction, the Agency Workers Regulations (AWR) are thought to have cost organisations more than £1.5 billion in administration costs, but have not increased benefits for workers, according to the Confederation of British Industry (CBI).The regulations, which were introduced 1 October 2011, give agency workers entitlement ...
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Article
Ban on age discrimination extended
New provisions set out in the Equality Act 2010, which extends the ban on age discrimination, came into force on 1 October and could impact some service providers, such as healthcare providers.According to the Equality Human Rights Commission, the new ban will mean, in most cases, these service providers will ...
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Executive remuneration consultation closes
The Department for Business, Innovation and Skills’ (BIS) consultation exercise on revised executive remuneration reporting regulations has closed.The consultation, Directors’ pay: revised remuneration reporting regulations, includes draft regulations setting out the proposed form and content of the director’s remuneration report.The proposals of the report, if enacted, will give shareholders a ...
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Article
ECJ considers Tupe case
The European Court of Justice is currently hearing a case that could impact on the remuneration employers provide to employees as part of a transfer covered by transfer of undertakings (protection of employment) (Tupe) regulations.The case, Parkwood Leisure versus Alemo-Herron and others, involves a private sector organisation that took over ...
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ECJ to examine VAT on DB pensions
The European Court of Justice (ECJ) will examine whether defined benefit (DB) pension schemes should pay value-added tax (VAT) on investment management services.The case under examination involves Wheels Common Investment Fund (WCIF), a multi-employer scheme, and the National Association of Pension Funds (NAPF), after a tribunal in London in February ...
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Public sector pensions bill published
The government has published the Public Service Pensions Bill 2013, which is forecast to save £65 billion over the next fifty years and aims to reduce public sector pension scheme costs by around half.The Independent Public Service Pensions Commission published its final report in March 2011. The government accepted its ...
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Article
Small employers could face RTI penalties
Small organisations and those that employ casual staff could suffer under real-time information (RTI) reporting, particularly from the on-or-before payment requirement.It requires the employer to submit information to HM Revenue and Customs (HMRC) each time they pay an employee. For example, when a catering company that uses casual staff to ...
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Article
FSA announces incentive scheme review findings
The Financial Services Authority (FSA) has completed a review of 22 organisations’ financial incentive schemes.The review encompassed banks, building societies, insurers and investment firms.It found:Most incentive schemes were likely to drive employees to mis-sell and these risks were not being properly managed.Firms were failing to identify how incentive schemes might ...
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Employee Benefits/Premier Pensions and Workplace Savings Research 2012
Download the full report here.Key findingsAuto-enrolmentRetail Distribution ReviewSchemes on offerAttitudesWorkplace savingsInvestmentSponsor’s commentHear Debi O’ Donovan, editor of Employee Benefits, discuss the results of the research in a webinar, produced by PremierEditor’s commentWith just months to go before the UK’s largest employers must comply with the incoming auto-enrolment pension reforms, many ...
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Third of Scottish employment tribunal cases relate to equal pay
Over a third of all Scottish cases that are referred to the Employment Tribunal are related to equal pay, according to figures by HM Courts and Tribunal Service.The figures show that 10,000 cases were brought before the tribunal relating to issues of equal pay. The data was released following a ...
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Employee Benefits/ Premier pensions and workplace savings research 2012
As auto-enrolment approaches, many employers’ attention is now firmly fixed on what compliance means for their organisation, according to the Employee Benefits/Premier pensions and workplace savings research 2012.Just under three-quarters (72%) of respondents said they have a project plan in place, while 69% have planned their budget for the changes.Three-quarters ...
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Employee Benefits Pensions and Workplace Savings Research 2012: Attitudes
Many employers have a long history of taking responsibility for the long-term financial wellbeing of their staff . Twelve years ago, 68% of respondents to the Employee Benefits Pensions strategy research 2000 told us this was the case in their organisation. This figure has remained consistently high over the past ...
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Employee Benefits Pensions and Workplace Savings Research 2012: Auto-enrolment
After many years in the pipeline, the Pensions Act 2008 will finally begin to take effect from October this year. For some organisations, compliance is already a reality, with some having opted to bring their staging date forward to last month. The legislation will introduce compulsory minimum employer and employee ...
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Employee Benefit Pensions and Workplace Savings Research 2012: Key Findings
Our survey, which was carried out in June 2012 among readers of Employee Benefits magazine and users of www.employeebenefits.co.uk, received 206 responsesKEY FINDINGS85% will use their existing pension scheme for implementing the auto-enrolment reforms.75% know how much auto-enrolment will cost, with 32% saying it will increase costs by 1-9%.34% will ...
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Kay report calls for realignment of executive remuneration
A report commissioned by the government has proposed to realign company incentives by better relating directors’ remuneration to long-term sustainable business performance.The report, UK equity markets and long-term decision making, has also proposed that long-term performance incentives should be provided only in the form of company shares, to be held ...