All articles by System Administrator – Page 76
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Analysis
Feature - Focus on pensions: Conflict of interest sees FD trustees flee
Finance directors, who serve as trustees find themselves in a position of conflict when it comes to negotiating reductions in pension deficits, says Jamin RobertsonIf you read nothing else, read this ...Some finance directors have opted out of serving as pension scheme trustees due to conflicts of interest.These have arisen ...
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Article
News update - IFAs visit Compass
Hundreds of employees at Compass Group have been given the opportunity to visit an independent financial adviser (IFA) following changes to the company's defined benefit (DB) pension scheme. Around 20% of the food services company's 65,000 staff have been affected by the pensions changes and have been offered, the chance ...
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Article
Employers fail to communicate value of perks
Employers are investing large amounts of money in their employee benefits package, yet are failing to communicate the value of these perks to staff. As a result, a quarter of respondents to Origen's 2006/2007 Annual employee benefits survey believe that their employees are indifferent towards or attach little value to ...
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Article
CAA launches total reward statements
Following a feasibility study into flexible benefits, the Civil Aviation Authority has decided to launch total reward statements instead to better promote the benefits already on offer. It is also looking into voluntary benefits.
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Analysis
Buying cross-border medical cover
When buying cross-border medical cover, consider the length of trip and whether exclusions can be safely made, and always aim to buy in bulk, says Vicki TaylorIf you read nothing else, read this ...Business travel policies should provide adequate health cover for staff making short work trips. Employers should read ...
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Article
Schroders brings in flex on net
Schroders, the assest management company, has introduced online flexible benefits after consulting with staff to determine which perks they would value. Employees made their selections in the scheme last month. Rob Levine, compensation and benefits manager, said that he is happy with the initial response. "Around 900 employees have made ...
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Article
Brakes Group switches occupational health provider
Brakes Group has switched its occupational health contract from Bupa to Active Health Partners (AHP). Under the new arrangements, AHP will provide staff with online medical assessments, advice and fast-track treatment to facilitate their return to work.Management at Brakes will have access to online data enabling them to measure the ...
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Article
Legislation - Rules target black economy
The government has begun a consultation exercise on plans to increase the statutory amount of annual leave from 20 to 28 days by including bank holidays.Although the vast majority of companies offer staff above the minimum requirement of 20 days paid annual leave, it is still technically legal for employers ...
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Article
Kier Group launches voluntary benefits
Construction business Kier Group has implemented a voluntary benefits package as a possible precursor to flexible benefits.Frank Maybin, group total rewards manager at the construction company, said the project was launched after the firm considered flexible benefits last year but first decided to use voluntary benefits to introduce the concept ...
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Article
PMI tops KPMG benefits list
Private medical insurance (PMI) tops the list of benefits most valued by employees at accountancy firm KPMG. A benefits survey answered by 2,300 of its 10,000 employees also showed that its bikes for work scheme is its least popular perk and staff would most like to receive discounted broadband as ...
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Article
Pensions jargon is barrier to staff
Employees may fail to make sufficient provision for retirement because they do not understand much of the jargon attached to pensions. Just 20% of the UK population claimed to understand terms such as defined benefit and defined contribution, according to research by JP Morgan Invest.More than a quarter, however, believed ...
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Article
Government statutory sick pay plans axed
A Government proposal which would have required employers to pay statutory sick pay (SSP) to staff from day one of their absence has been scrapped due to the potential cost to firms. The proposal was included in a green paper on welfare reform published in January that aimed to simplify ...
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Article
Poplar Housing and Regeneration Community Association opts for cash plan
Housing charity Poplar Housing and Regeneration Community Association has removed private medical insurance (PMI) from its flexible benefits scheme and replaced it with a healthcare cash plan as a core benefit.The organisation, which has around 250 employees, began offering PMI two years ago following consultation with employees but found that ...
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Article
Blackpool International Airport launches healthcare cash plan for staff
Blackpool International Airport has introduced a fully-funded healthcare cash plan from Healthsure for its 150 employees. It marks the organisation's first move into benefits, apart from a money purchase pension scheme, and comes as the airport undergoes major expansion after its takeover last year.Jackie Wild, personnel officer, said: "The health ...
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Analysis
Technology aids uptake of benefits
Changes in technology have helped employees to understand the value of the benefits they have in a learning window of their own choosing, says Nick GoldingCase study: 3UKArticle in fullAlthough internal communication has always been a key factor behind any organisation's success, there have been some dramatic changes of late ...
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Article
Age discrimination surgery: Service-related benefits
Employer's queryRedundancy aside, we have a variety of service-related benefits. Some of these kick in before five years' service, while others are only available to longer-serving employees. Some of these benefits have been negotiated with the unions over a long period of time, so where do age laws leave us ...
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Analysis
Accreditation schemes
Nick Golding questions whether the number of accreditation schemes and polls is diluting the overall value for featured organisationsCase studies: Nationwide Building Society, Compass Group Article in fullHanging out at restaurants like The Ivy or going to film premieres are guaranteed ways for celebrities to raise their profile, because in ...
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Analysis
Employee Benefits Communication Supplement 2006: Branding boosts benefits buzz
Creating strong, internally marketed benefits brands seems to give perks better visibility and increased recognition among staff, it may also help to instill a specific set of values, says Nick GoldingCase study: ElanArticle in fullA common misconception often held by employers is that just purchasing the finest benefits around will ...
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Analysis
Employee Benefits Communication Supplement 2006: Education is key to making perks more attractive
Seminars, one-to-one question and answer sessions, and interactive online methods are some of the financial tools being used by employers to increase the impact of their benefits, says Vicki TaylorCase study: Capita GroupArticle in fullWhen it comes to informing employees about their financial benefits, many employers simply present their staff ...
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Article
Legislation update - Government's Eco worries
A plan to review employee car ownership (Eco) schemes published by HM Revenue and Customs (HMRC) last month has prompted speculation that new tax legislation could be introduced next year.The publication stated that the review will cover areas such as how Eco schemes work, what the impact of schemes has ...