All Employee Benefits articles in Web Issue – Page 307
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Aviva launches health risk assessment programme
Aviva UK Health has launched a new health risk assessment programme called MyHealthCounts for BusinessThe programme, which is designed to help organisations with 250 or more employees to control sickness absence costs, offers health and leisure discounts, reports and insights to help identify key health risks, and HealthPoints which can ...
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Research finds reward is growing as a wider company strategy
Reward was found to represent 70% of a company’s total costs, making it a top management issue rather than merely the sole responsibility of compensation and benefits experts, according to new research from the HayGroup, The Changing Face of Reward.The global reward research was conducted through the survey of HR ...
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NHS staff sent on trips to boost engagement
Next time you hear hospital workers moaning about long hours for little reward, point them in the direction St George’s Healthcare Trust in Tooting, south London.The trust’s non-medical NHS staff are being sent on trips to boost engagement and improve customer service skills, with trips to John Lewis department stores ...
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Kharafi National introduces employee savings scheme
Kharafi National, an infrastructure project developer based in the Middle East, is offering RBC Corporate Employee & Executive Services’ (RBC Cees) employee savings programme to approximately 4,000 qualifying employees.The scheme provides savings and pension benefits, enabling employees to gain international investment options while Kharafi National contributes a matching level.Simon Stirzaker, ...
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Axa research shows disparity between public and private pensions
New research from Axa found that six in 10 people believe it is unfair that public sector employees generally receive better pensions than their private sector counterparts.The research also highlighted that 44% of public sector workers agree.Findings show that a 25-year-old woman working in the private sector would have to ...
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A quarter of employers fail to communicate sickness provision
One in four employers (25%) do not communicate sickness provision to staff, according to new research from industry body Group Risk Development (GRiD).The research, which polled 500 UK employers, found that a significant number keep important details of their benefits package under wraps from staff.Additional findings included: 8% have a ...
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Hewitt New Bridge Street research: recession’s impact on executive remuneration
Eighty percent of FTSE SmallCap companies responded to the economic downturn by freezing executive pay and reducing bonuses, concludes a series of reports on executive reward published by Hewitt New Bridge Street.The report collates data published by companies in the FTSE SmallCap index, which comprises more than 250 businesses outside ...
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Cyclescheme bought by Grass Roots Group
Cyclescheme. the administrators of tax-efficient cycle-to-work programmes, has been purchased by the Grass Roots Group.The agreement, which was concluded on 18 March, will in no way affect Cycleschemes current network of cycle-to-work plans and arrangements. However, all of the Grass Roots Group’s proposed schemes will now go through the Cyclescheme ...
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Public sector pensions liability now almost £1.2 trillion
Unfunded pension promises made to past and present UK public sector workers now amount to almost £1.2 trillion.The latest official estimate of unfunded public sector pension liabilities to be published by the government is £770 billion at 31 March 2008. However, Towers Watson estimates that applying the same method in ...
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Half of employees feel they are paid less than they are worth
Half of employees feel they are paid less than what they are worth.According to research by the Institute of Payroll Professionals (IPP), 6% claim they are paid considerably less than what they deserve.Other findings revealed nearly two-thirds of employees would ask their employer for a pay rise if they knew ...
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Nearly half of pension scheme mangers would consider a buy-in or buyout
Nearly half of pension scheme managers (41%) would consider a partial buy-in or full buyout in the next 12 months, should pricing and sponsor support be aligned.According to research conducted among 42 of Europe's largest pension schemes, 84% said the preferred route to a buyout would be through a buy-in ...
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Vebnet adds electronic P60s to technology
Vebnet has added electronic P60s to its technology with immediate effect.This follows HM Revenue and Customs’ (HMRC) decision to amend pay as you earn (PAYE) regulations to allow electronic P60s to be issued from 6 April.Until now HMRC insisted mployers issued paper P60s to all employees but a change in ...
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Staffcare introduces new benefits portal
Staffcare has launched a new benefits portal, called flexeasy, for communicating and administering core and flexible benefits for businesses of all sizes.Through the portal a selection of more than 20 benefits are available from three different providers, which employers can pick and choose from.A typical flex project takes anywhere between ...
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Government launches employee engagement guidance
The Department for Business, Innovation and Skills (BIS) has introduced new guidance for effective employee engagement.The guidance was developed with input from a range of business leaders, employers and employee engagement practitioners. It follows the July 2009 publication of the independent report to government last year, Engaging for Success, which ...
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Budget 2010: Reforms to public sector pensions and pay
The 2010 Budget included measures to reform public sector pensions and control public sector pay, including confirmation of a 1% cap on basic pay uplifts for 2011-12 and 2012-13.Chancellor Alastair Darling said: “There will be reductions in the pay bill for senior civil servants. Overall, we intend that public pay ...
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Budget 2010: Government to consult on default retirement age
As part of his 2010 Budget, Chancellor Alistair Darling has announced the government intends to launch a formal consultation on reforms to the default retirement age.This includes considering options for: removing it, increasing it and reforming the legislative framework to strengthen the position of the employee.Carol Dempsey, reward partner at ...
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Budget 2010: Changes to pension tax legislation
Changes will be made to pensions tax legislation at the beginning of the next parliament, according to Chancellor Alastair Darling’s 2010 Budget.These changes will enable the national employment savings trust (Nest) to operate as a registered pension scheme; remove tax on interest charges on late contributions made by employers to ...
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Budget 2010: National mimimum wage set to rise from October
The national minimum wage is to rise from October, Chancellor Alastair Darling announced in today's Budget.There will be a 2.2% rise, bringing it up to £5.93 an hour. The national minimum wage will have risen by more than 22% in real terms since the government introduced it in 1999.John Cridland, ...
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Budget 2010: Changes to employee share schemes
From 24 March 2010, employers will no longer be able to operate company share option plans (Csops) if they are a subsidiary of a listed company.Measures contained in this year's Budget report will also introduce legislation to counter arrangements set up by employers in recent years to circumvent the £30,000 ...
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Budget 2010: Banking staff incentives to be investigated
Staff incentives in the banking sector are to come under the spotlight under proposals outlined in today’s Budget.The government is to ask industry body the Retail Financial Services Forum (RFSF) to investigate to what extent financial services firms' staff targets and incentives led to poor outcomes for consumers and employees, ...