All articles by Tynan Barton – Page 42
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ArticleGovernment to increase personal allowance and higher-rate tax thresholds
Budget 2016: The tax-free personal allowance limit and higher-rate tax threshold will increase from April 2017.In his 2016 Budget speech today (16 March), Chancellor George Osborne announced that the tax-free personal allowance limit, the amount an individual earns before they pay income tax, will rise to £11,500 from April 2017, ...
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ArticleEmployer contributions to public sector pensions to increase
Budget 2016: Employer contributions to public sector pensions will increase from 2019-20 onward.In his 2016 Budget speech today (16 March), Chancellor George Osborne announced that the government has reassessed the discount rate used to set employer contributions. The discount rate is based on the Office for Budget Responsibility’s (OBR's) long-term ...
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ArticleAuto-re-enrolment offers an opportunity to re-engage individuals with pension savings
Employee Benefits Connect 2016: Interventions are required to help employees save adequately for retirement.In a conference session titled ‘Using auto-re-enrolment to future proof pensions provision’, at Employee Benefits Connect on 9 March, Amy Hennessy, policy adviser at the Pensions and Lifetime Savings Association (PLSA), discussed how the pension freedoms have ...
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Case StudiesDomestic and General offers employees a well-rounded benefits proposition
For Domestic and General, a key aim of its benefits proposition is that it is well-rounded enough to support its diverse employee base.Its holistic approach ranges from enhanced pension contributions and free flu jabs for all employees, to long-service awards and even mindfulness colouring books. Kay Mellor, head of HR, ...
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Case StudiesThe benefits offered by Domestic and General
A summary of the workplace benefits offered by Domestic and General:PensionA group personal pension for all employees, with a 3% employer contribution for all staff, and matching or enhanced employer contributions based on seniority.Employer-funded independent financial advice for all employees.Healthcare and wellbeingPrivate medical insurance: employer-paid on a seniority level, with ...
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OpinionWhat are the key issues affecting global employers’ benefits strategies?
The rise of the global employer, and the importance of emerging markets for expanding organisations, has changed the way businesses engage with their employees. The needs arising from different cultural norms and fulfilling the expectations of a varied workforce have created rich, robust employee networks, but with it has come ...
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AnalysisWhat is included in a global wellbeing strategy?
Need to know:Wellbeing is still in its infancy on a global basis, compared to the focus it has among UK employers.Obesity and mental wellbeing are some of the key issues that employers are concerned about.Supporting global employees should ideally be done on a local level, but a basic provision of ...
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Article
33, 34: How can employers help staff maximise their options under the pensions freedoms
Need to knowSome employers have adjusted their pension schemes in response to pensions freedom, and others are investing more time and effort in offering financial educationWhile some, often wealthier and more financial savvy, employees have taken advantage of the new freedoms, many others are struggling to navigate the new landscapeEmployers ...
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Article
27, The true impact of reward in the workplace
Reward should be used to maintain engagement, not get staff engaged in the first place, says Bill Alexander, chief executive officer, Red Letter Days for Business.Recognition continues to sit at the bottom of the priorities list. However, stepping outside of the working environment, if we were to help a friend ...
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Article
21, The growing importance of wellness in the workplace
Beate O’Neil, head of wellness consulting, Punter Southall Health and ProtectionAs head of wellness consulting, it is interesting to me that 10 years ago jobs like mine were few and far between. But the Employee Wellness Survey 2016, published by the Reward and Employee Benefits Association (REBA) and Punter Southall ...
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Article
Employee Benefits Awards 2016 shortlist announced
The shortlist for the 2016 Employee Benefits Awards has been decided and will shortly be available at www.employeebenefitsawards.co.uk.More than 25 HR, benefit, reward and compensation professionals took part in the judging process. The judging panel drew on their collective experience from a range of industries, locations and workforce demographics to ...
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AnalysisBuyer’s guide to flexible benefits technology
What is flexible benefits technology?This is a technology system, operating in-house or from cloud-based servers, that provides a platform to deliver a flexible benefits scheme. Increasingly, systems are designed to interface with other elements of benefits and reward, including pensions, and often have interactive and data-modelling tools that can be ...
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AnalysisHow will the changes to the lifetime and annual allowances affect higher earners?
Need to know:The lifetime allowance for pension contributions will be reduced from £1.25 million to £1 million from 6 April 2016.From April 2016, those earning between £150,000 and £210,000 a year will face a tapered annual allowance for tax relief from £40,000 to £10,000.Communication can be used to ensure that ...
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AnalysisBuyer’s guide to employee assistance programmes
The factsWhat are employee assistance programmes (EAPs)?An EAP provides confidential information, support and counselling to staff with personal or work-related issues. The service is available around the clock by telephone or online. A comprehensive EAP also provides access to face-to-face counselling if necessary. An EAP can also support an employer. ...
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ArticleBuyer's guide to group critical illness insurance 2016
The factsWhat is group critical illness insurance?Group critical illness insurance pays a tax-free lump sum to an employee who is diagnosed with a serious condition, such as heart attack, cancer or stroke, or is undergoing a specified surgical procedure, such as major organ transplant or open-heart surgery.The benefit is paid ...
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AnalysisBack to basics on lifestyle strategies
Need to know:Lifestyle funds gradually move an employee away from high-risk, high-return assets into lower-risk, lower-return assets as they approach retirement.Following the introduction of the pension freedoms, fewer people are buying an annuity, which raises the question of whether lifestyle funds are an appropriate default strategy.With the introduction of the ...
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OpinionMark Fenton-O’Creevy: Is there a case for workplace financial education?
In difficult financial times any employer will think twice before incurring additional costs, and training budgets are notorious for being trimmed in hard times. So why would an employer seek to invest precious training resources in a topic without apparent direct relevance to performance?Many employers do not. Consumer market research ...
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AnalysisHow the physical workplace can help manage musculoskeletal disorders
Need to know:Musculoskeletal disorders (MSDs) represent a large proportion of working days lost to ill health.Employers can help staff make adjustments to the physical workspace to prevent and manage MSDs.Movement is an important factor in managing MSDs.Musculoskeletal disorders (MSDs) can represent a huge burden to UK employers: the latest Labour ...
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Case StudiesInterContinental Hotels Group delivers business value through benefits strategy
As a large global hospitality organisation, the InterContinental Hotels Group (IHG) ensures that it has a benefits strategy in place that supports the business goal of delivering value through preferred brands and talented people.IHG has almost 4,900 hotels worldwide that are either franchised, owned or managed by the organisation, and ...
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Case StudiesThe benefits offered by InterContinental Hotels Group
A look at the benefits offered by InterContinental Hotels Group (IHG):PensionsTrust-based defined contribution scheme for all corporate employees.IHG auto-enrolled staff in September 2013. The scheme received the Pensions Quality Mark in 2014.HealthcarePrivate medical insurance, employer-paid through a healthcare trust, administered by Healthcare RM. Employees can pay to include family members.Dental ...