All Employee Benefits articles in Web Issue – Page 212
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Article
FSCS confirms protection for SAYE scheme deposits.
The Financial Services Compensation Scheme has conformed today that it will protect money deposited in SAYE †schemes.It said the that money deposited into banks and building society via standard SAYE schemes will be protected in the same way as any other deposit.This protection applies to schemes where the deposit is ...
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Article
Steep rise in remuneration for top retail executives.
Top level pay awards in the retail sector have risen dramatically over the past five years as chief executive officers seek to insulate themselves against the risk of failure in tough market conditions.According to new research by Durler Consulting, despite the average length of tenure decreasing, retail board remuneration committees ...
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Article
John Lewis launches four-year sports programme
The John Lewis Partnership has announced a four-year health and wellbeing programme that will invite all 69,000 UK employees to take part in sport and qualify as coaches in the run up to London's 2012 Olympic games.The employee-owned retail group, which operates John Lewis department stores and Waitrose food shops, ...
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Article
Christmas parties cancelled as employers cut back on perks
Almost four in five UK businesses are set to cut back on pay, bonuses and even Christmas parties this year in order to limit costs, according to new research published by the Institute of Directors (IoD).The IoD Policy Voice survey found that more than a quarter of employers (27%) said ...
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Article
Employers plan redundancy pay above statutory minimum
Employers expect to make more redundancies in the year ahead, but half plan to offer severance awards above the statutory minimum.The Labour Market Outlook Redundancy Special survey by the Chartered Institute of Personnel and Development and KPMG found that 50% of employers offer redundancy deals above the statutory minimum. This ...
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Article
Aimip aims to be new kitemark for international PMI
The Association of International Medical Insurance Providers (Aimip) aims to help employers and corporate advisers ensure they select an international private medical insurance (PMI) product that assures quality and compliance in the countries it is to be used in.Speaking at the official launch of Aimip, Carl Carter, chairman of Aimip, ...
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Case Studies
Case Study: Certegy rationalises pension arrangements
Following its merger with Certegy, financial technology firm, Fidelity National Information Services had three pension schemes: a stakeholder plan, a contracted-in money purchase plan and a group personal pension (GPP).To harmonise these pension arrangements, it consolidated the schemes into a new GPP. Julie Chell, Fidelity's HR director for Europe, the ...
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Article
Company car drivers are becoming more eco-friendly
When selecting a new company car, most employees will consider how environmentally friendly the vehicle is, according to new research published by Leasedrive Velo Group.The survey revealed that almost nine in 10 employees (87%) feel that the level CO2 emissions would influence the choice of their next company car.Of the ...
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Article
CIPD Reward Forum: Corporate Sipps are the new flexible benefits
Group self invested personal pensions are emulating flexible benefits in the 1990s.Speaking at the CIPD Reward Forum, Philip Hutchinson, head of corporate Sipp sales, Pointon York Sipp Solutions, said: “Sipps is exactly where flex was 10 years ago. Everybody wants one but most people don’t understand how they work.”However, more ...
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Case Studies
Case Study: Runnymede Borough Council switches from PMI to cash plan
Runnymede Borough Council switched from providing private medical insurance (PMI) to staff who had been with the organisation three years, to a healthcare cash plan for 500 employees after finding the increasing cost of PMI too much to handle.The council now pays for a cash plan for all employees once ...
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Article
CIPD Reward Forum: Maximising tax breaks on company car plans
Speaking at the CIPD Reward Forum, Chris Bolan a consultant at Compass Reward Consulting advised employers to do a cost-benefit analysis on fuel for private use. “Fuel for private use is very tax inefficient,” he said, although many organisations still offer it.He is also seeing increasing numbers of employers considering ...
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Analysis
Buyer’s guide to group personal pensions
gPPs have become the workplace pension of choice for many employers, says Tom WashingtonWith employers' continuing migration from defined benefit (DB) to defined contribution (DC) schemes, group personal pensions (GPPs) have become the workplace pension of choice for many organisations. From a new business point of view, the GPP market ...
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Analysis
How to calculate the whole life cost of cars
Motivated by factors such as tax changes and the potential savings on offer, employers are increasingly moving towards calculating the whole life cost of vehicles within their fleet, says Laverne HadawayAs the economic downturn continues, knowing precisely how much items cost is more important than ever, both for employers and ...
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Analysis
Minimise your corporate tax on company car fleets
Executive Summary New capital allowance rules come into effect next April and all cars will be taxed according to the level of carbon dioxide they emit per kilometre. Rental disallowance will be set at a flat rate of 15% for cars emitting 160g/km or less of carbon dioxide, regardless of ...
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Article
Carlsberg takes the green road with car incentive plan
Carlsberg has cleaned up its fleet with greener cars and incentivised its employees to choose more environmentally-friendly vehicles.The drinks firm now offers fuel-efficient BMWs, emitting less than 140g of C02 per kilometre (km), to the 320 drivers in its employee car ownership and traditional company car programmes. From September, employees ...
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Article
Pre-Budget Report: Fuel duty to increase and vehicle excise duty reforms scaled down
Chancellor Alistair Darling has minimised the impact of vehicle excise duty reforms, but maintained his decision to increase fuel duty offsetting the 2.5% temporary decrease in value added tax (VAT).In his pre-Budget Report, the Chancellor confirmed that the planned 2p rise in fuel duty, first announced in April, will be ...
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Article
Tesco launches financial education for staff
Tesco has launched a financial education programme for its 280,000 employees.†The retailer will distribute a guide to personal finance published by the Financial Services Authority (FSA). Just the facts about making the most of your money, to all its UK workforce. The guide is designed to help staff manage their ...
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Analysis
How far should employers go in providing financial education?
The need for financial education in the workplace has been highlighted by the credit crunch, but how far should employers go, asks Laverne HadawayEven before the credit crunch began to take its toll, the concept of providing financial education for staff was rising in prominence. The publication of the Thoresen ...
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Article
New head of talent at Tesco
Tesco has moved its international manager Michael Poulten into the role of head of talent. Poulten said: "Tesco has a great record of recruiting and retaining talented employees and I am looking forward to continuing that, while tackling topics such as the changing workplace demographic." Before moving to the retailer, ...
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Article
Cripps joins Hewitt
Hewitt Associates has appointed Clive Cripps as an associate in the company's reward practice. Cripps joined the organisation in October this year from Xafinity, where he was head of flexible benefits consulting. He said: "My role is to work with HEwitt in developing its offering."