All articles by Sarah Coles
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Case Studies
The Ashmore Group replaces Sipp with corporate Isa
It launched a corporate Isa in March, as part of a corporate platform, to replace the company’s self-invested personal pension (Sipp). The platform itself had a 100% take-up, because it included the company pension, which is non-contributory and entirely funded by the employer.However, 16% of staff also took up the ...
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AnalysisAlternative savings vehicles are appealing to staff
IF YOU READ NOTHING ELSE, READ THIS…Corporate Isas are a more attractive savings option than pensions for younger employees.Sharesave schemes offer a ‘no-lose’ option for employees to make sure of a savings windfall in a few years’ time.Alternative savings schemes can be co-ordinated by placing them on a corporate platform.Ask ...
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Case Studies
Case study: CPP introduced a corporate Isa to flex
CPP, the card protection company based in York, introduced a corporate Isa to its flexible benefit scheme last year as part of the annual renewal process.Alanna Knighton, reward manager, says there were two reasons for this. “The new pension rules loweredthe lifetime cap for higher earners, so they were looking ...
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Analysis
Workplace Savings: Joined-up thinking needed for workplace savings
If you read nothing else, read this... The workplace offers short-term savings options through SAYE share schemes, long-term savings through a pension and medium-term savings via a workplace Isa. These are simple, cost-effective and appeal to a broad spectrum of employees. They can work well alongside existing benefits. They can ...
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Article
Buyer's guide to flexible benefits technology 2012
Focus on factsWhat is flexible benefits technology?This is pieces of software or, increasingly, web-based systems, that enable the delivery of a flexible benefits plan. Many systems are integrated with other aspects of a reward package, such as a pension, and can include modelling tools. Others are integrated with HR systems.What ...
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Analysis
Fleets go greener
If you read nothing else, read this … New cars have undergone rapid evolution in terms of fuel-efficient and reduced-emission engines. Employees are pushing for greener vehicles to reduce their benefit-in-kind tax liability. Employers are keen to save fuel costs and promote their corporate social responsibility agenda. Vehicle manufacturers are ...
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Analysis
Keep fleet expenses under control
If you read nothing else, read this . . . Rising fuel costs are pushing fuel expense monitoring up the agenda. Fuel cards and mileage monitoring systems can help identify how much drivers are spending and where. Using fuel cards with other systems may reduce fuel consumptions. Systems should not ...
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Case Studies
Case study: Freshfields staff sign up for greener cars
Law firm Freshfields Bruckhaus Deringer, an Employee Benefits Awards 2011 runner-up in the category for 'Most effective travel strategy for business and perk car drivers', introduced a green car scheme in 2009 to which it made major changes in 2010.The law firm, which had not operated a formal company car ...
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Analysis
Drivers move away from grey fleet
If you read nothing else, read this … Under grey fleet arrangements, employees use their own cars for business purposes. Some organisations that have operated grey fleet arrangements are now returning to company cars. Employers should weigh up which is best suited to their organisation.Case study: Asda shows value of ...
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Case Studies
Case study: Asda shows value of cars
Asda runs a fleet of more than 700 contract hire cars, but allows staff to opt out and take a cash allowance instead. In the past 12 months, cash allowance takers have been returning to company cars, however.Staff who opt into the car scheme benefit from corporate discounts and a ...
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Analysis
How to motivate executives
If you read nothing else, read this … Like other staff, if executives believe they are not valued by the organisation, they will leave, so it is important for employers to get the level of reward right. Employers need to ensure their executives are motivated to go above and beyond ...
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Case Studies
Case study: Aviva reward policy pays out
Aviva runs a recognition and motivation scheme called Spotlight that includes senior executives alongside managers and more junior staff.Under the scheme, employees can nominate one another for recognition and reward for contributing to the success of the firm. Nominations are made through an online portal.The person making the nomination also ...
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Case Studies
Case study: E.On empowered by national pension scheme
E.On is a diverse business with a long history of mergers and acquisitions. In the UK, most staff belong to one of three pension plans: career average and final salary arrangements that are closed to new staff, and an open defined contribution (DC) plan.Ant Donaldson, senior specialist, employee benefits at ...
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Analysis
Mergers & Acquisitions: DB pension liabilities
Defined benefit pension liabilities can play a big part in merger talks, says Sarah ColesIn December 2008, a potential merger between Qantas and British Airways collapsed, with BA's £1.7 billion defined benefit (DB) pension liability cited as a major reason. This was perhaps unsurprising, given that BA's pension liabilities were ...
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Analysis
Mergers & Acquisitions: The DC pension choices
If you read nothing else, read this...There is no single right answer on what do about DC pensions provision following a merger or acquisition.Some employers will launch a brand new scheme for all staff, others will extend existing plan and others will do nothing.Employers must consider factors such contribution levels ...
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Analysis
Mergers & Acquisitions: Due diligence is vital
If you read nothing else, read this...De-risk the pension scheme(s) the less risk and lower liabilities, the better.Check contracts. Are there any difficult commitments lurking?Check the rules on benefits will the sale trigger any difficult payments, such as stock option payouts?Communicate. Employees need to know you are preparing for a ...
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Analysis
Pensions governance: Which adviser are you going to call?
If you read nothing else, read this... To select the right adviser, an employer must thoroughly understand its own needs. Consultants offer a range of pensions services, from communication to investment advice and complex funding options. Independent financial advisers also offer advice to staff with less complex needs. The retail ...
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Analysis
Tax changes spur high earners to reconsider pensions
Tax changes for high earners will affect their pension plans and have sparked a search for more tax-efficient investments, says Sarah ColesAccording to the Institute for Fiscal Studies, the UK now owes 53.8% of its national income. So it is hardly surprising the former Labour government announced big income tax ...
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Analysis
E.On focuses energy on unifying benefits package
E.On’s benefits team have been solving the puzzle of drawing together a cohesive perks package for a disparate workforce, says Sarah ColesNo one visits the employee benefits team at energy firm E.On without being given a benefits cube: a seemingly simple block bearing details of the benefits on offer, which ...
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Analysis
Employer profile: Change is the only constant at Cable and Wireless
A demerger is just the latest change at Cable and Wireless, where staff are kept on their toes, says Sarah ColesLast month, Cable and Wireless went through a demerger, spinning off Cable and Wireless International, the telecoms part of the business, from Cable and Wireless Worldwide, the business services arm. ...