All articles by Robert Crawford – Page 26
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AnalysisWhy new flexible retirement options should lead to a revamp of HR and benefits strategies
If you read nothing else, read this…72% of pension professionals are not prepared to deal with the consequences of the pension flexibilities. (Aon Hewitt)Financial education could become a prominent feature of benefits packages to help employees plan for retirement.Employers will have to adapt working arrangements to cater for flexible retirement.Default ...
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ArticleLufthansa pilots strike over retirement benefits
Lufthansa employees are striking for 48 hours in a dispute over retirement benefits.Lufthansa, which is in the midst of a cost-cutting plan and trying to set up new low-cost units to battle competition, has proposed increasing the retirement age for pilots from 55 to 60 under the terms of its ...
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ArticleMK Dons launches master trust for auto-enrolment
InterMK Group has auto-enrolled all of its 320 employees into a defined contribution master trust. The group, which includes the football club MK Dons, InterMK, HotelMK, StadiumMK and MK Dons Sports and Education Trust, auto-enrolled staff into the master trust, provided by Carey Pensions. The provider will also offer administration ...
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ArticleTPAS and Citizens Advice to give pensions guidance
The Pensions Advisory Service (TPAS) and the Citizens Advice Bureau will provide pensions guidance to employees from April 2015.The government has announced that TPAS will provide telephone guidance and the Citizens Advice Bureau will provide face-to-face guidance.In July, the government announced in July that its guaranteed guidance on pensions choice ...
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Case StudiesBristol Myers Squibb educates staff about pension reforms
It has informed staff about the changes following the closure of its defined benefit (DB) scheme in 2012 and the introduction of a group personal pension plan .The employer has also launched an online retirement planning tool, provided by Aspire to Retire, which is available to employees who are five ...
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ArticleEmployers face 50% increases in group risk premiums
Employers face cost increases in their employee insurance premiums as the average age of the workforce continues to rise, according to research by Towers Watson.It found that when an organisation’s average employee age rises by five years, its group income protection premiums could increase by more than 50%.The research also ...
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ArticleOne in 10 would transfer out of DB to DC pension
Nearly one in 10 employees approaching retirement with defined benefit (DB) pensions would be interested in transferring out of final salary pensions, according to research by Towers Watson.Its Attitudes to retirement in a post-Budget world research, which surveyed more than 2,000 employees aged between 54 and 64, found that respondents ...
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ArticleTop 10 most read stories this week 25 September-2 October
The top 10 most read articles on employeebenefits.co.uk from 25 September to 2 October:1. Total reward is dead2. Chancellor plans to abolish 55% pension ‘death tax’3. Equal pay audits and antenatal rights to come into force4. Disengaged staff fuel HMRC change strategy5. What are the new flexible retirement options?6. Social ...
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Article200,000 staff plan to cash in retirement savings
More than 200,000 employees plan to cash in all their retirement savings next year when new pension reforms giving greater flexibilities come into effect, according to research by Hargreaves Lansdown.The research, which surveyed more than 1,247 people, found that more than one in 10 (12%) respondents with a defined contribution ...
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ArticleGovernment confirms action to cap pension charges at 0.75%
The government has confirmed it will continue to press ahead with action to cap pension scheme charges at 0.75% from April 2015.Its draft regulation paper Better workplace pensions putting savers’ interests first has confirmed charges to invest and manage the default funds of all qualifying schemes will be capped at ...
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ArticleOTS benefits simplification reforms not likely until 2017
The Office for Tax Simplification (OTS) is simplifying the way employee benefits and expenses are taxed but some of the reforms could be unlikely until 2017.Speaking at Employee Benefits Live 2014 on 24 September John Witting, tax director at OTS, said: “We are looking for opinions and views on issues ...
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ArticleTop 10 most read stories this week
The top 10 most read articles on employeebenefits.co.uk from 18-25 September:1. How employers can use data to design a healthcare strategy2. 71% would sacrifice a higher salary for appreciation3. Boodles increases staff pension contributions4. Partners given rights to attend antenatal appointment5. Manchester Airport Group boosts pension engageme 6. JP Morgan ...
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ArticleEarly health interventions save EE £538,000
EE made £538,000 in cost savings by introducing early interventions for staff affected by mental ill health.The savings resulted from an goal the business set to tackle and reduce employee mental health referrals across the organisation by more than 10% following the merger between mobile phone providers T-Mobile and Orange ...
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ArticleTop 15 stories on the website last month
1. PAYE tax code changes could adversely impact employers 2. Dixons Carphone looks to harmonise benefits 3. What employers need to know about calculating holiday pay 4. What is the real take-up of flexible benefits? 5. Kuoni boosts staff wellbeing with nutrition challenge 6. Should employers incentivise employees to keep ...
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ArticleFollow the chat from Employee Benefits Live
Employee Benefits Live, Europe’s largest employee reward and benefits event, returns for its 16th year today and tomorrow on 24 and 25 September at Olympia National, London.More than 2,000 visitors, including benefits, reward and human resources managers, are expected to attend during the two-day event.Delegates will attend conference sessions on ...
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ArticleAuto-enrolment hits pay rises
Although the economy continues to improve, pay increases look likely to remain low. In many organisations, funds that may previously have been earmarked for pay rises are being swallowed up to fund pension contributions post-auto-enrolment.Roger Sanders, managing director of Lighthouse Group Employee Benefits, said: “Money going into auto-enrolment, either 1% ...
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ArticleLegal and General implements staff exercise initiative
Legal and General is encouraging employees to exercise by introducing a ‘calorie burn’ smart-sign system to its office stairs.The financial services firm has designed the health initiative, provided by StepJockey, as a way to get employees to use the stairs instead of lifts.It has marked each stairway with a calorie ...
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ArticleLinklaters addresses total reward challenges
Linklaters has devised a total reward strategy that fits the culture of the organisation but faces challenges from offering a single strategy in a high-pay environment.Melissa Lever, head of reward at Linklaters, will discuss how the law firm has made one total reward strategy work by communicating the right messages ...
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Article
70% plan to spend pension pot on holidays and travel
Employees aged 55 to 64 plan to spend a larger amount of their retirement income in the immediate years after they retire, according to research by Investec Wealth and Investment.Its research, which surveyed 985 people aged 55 to 64, found that 70% of respondents plan to spend their retirement funds ...
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ArticleUnicycle to reinvent postal fleets
Something for the weekend…Postal organisations’ fleets are often imagined as having red vans or bikes to help employees get the daily post through letterboxes.But that image may just be changing along with postal organisations’ travel policies following the launch of an eco-friendly unicycle.Up to 100 employees at Whistl, formerly TNT ...