All Employee Benefits articles in Web Issue – Page 325
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Analysis
Salary sacrifice company cars: Sponsor's comment: Salary sacrifice for cars has come of age
This article is supplied by Zenith ProvectaOver the past 18 months, interest in salary sacrifice for cars has increased dramatically among HR and reward professionals, benefits providers, finance directors and employees, writes Ben Creswick, head of business development, Zenith Provecta.This has been driven mainly by the volume of businesses implementing ...
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Article
FSA confirms commission ban on group personal pensions
The Financial Services Authority (FSA) has confirmed commission on all new group personal pensions (GPP) will be banned under the Retail Distribution Review from 2013.The regulator's policy document Delivering the retail distribution review - Corporate pensions: feedback to CP09/31 and final rules has stated commission will be allowed to continue ...
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Analysis
Benefits keep employees working well
Employees need physical and psychological maintenance to keep them performing effectively and benefits can be the best tools, says Sam BarrettRegular services, maintenance schedules and instruction manuals go along with everything from the office air conditioning system and photocopier to forklift trucks in the warehouse. But when it comes to ...
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Article
Pentland Brands moves from employee car ownership scheme to company cars
Pentland Brands has changed its car scheme from an employee car ownership (Eco) scheme to company cars.The brand management group has appointed fleet management firm Alphabet to manage the change and supply cars and fleet management services, funded on a contract hire arrangement.Portland Brands decided to move away from its ...
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Analysis
Salary sacrifice company cars: What are the tax breaks?
Tax and national insurance breaks are the driving force behind take-up of salary sacrifice car schemesSalary sacrifice is a matter of employment law, not tax law, in that it will result in a change in employees' terms and conditions because they must give up their contractual right to the cash ...
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Article
A quarter of organisations reduced fleet budgets during recession
Just 18% of organisations have reduced their fleet size in response to the recession and difficult economic climate, while 26% reduced their overall fleet budget, according to research from the Corporate Vehicle Observatory and Arval.The annual fleet barometer report also revealed the most important step fleets have taken is to ...
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Analysis
Salary sacrifice company cars: Building a business case
The benefits of a company car salary sacrifice scheme might seem obvious, but the selling points must be set out clearlyBuilding the business case for car salary sacrifice schemes involves two things: making the case internally for doing so in the first place, and making the case to employees once ...
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Article
Tusker launches online fuel savings calculator for salary sacrifice schemes
Leasing and fleet management supplier Tusker has launched an online fuel savings calculator to show salary sacrifice drivers how their new company car compares to their existing vehicle.The fuel savings calculator, available through Tusker’s online platform, is included as an additional service for employees who have decided to select a ...
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Article
Half of employers do not plan to reduce company car costs
Almost half (47%) of UK organisations do not have a plan in place to reduce the costs of their company car fleet and have no intention of introducing a cost savings plan in 2010.A Lex Autolease/YouGov survey of UK financial directors also revealed 21% of organisations have a plan in ...
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Article
TDG outsources company cars
TDG has outsourced the funding and management of its 150 vehicle company car fleet to Zenith Provecta.The supply chain management organisation has centralised its fleet operation under the new sole supplier agreement. Zenith Provecta will manage its existing fleet and provide full administration services including accident management and a comprehensive ...
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Case Studies
Salary sacrifice company cars: Case studies
North Yorkshire County CouncilA soft launch, with staff allowed to play on the portal for a couple of months but not place orders, helped North Yorkshire County Council iron out any snags and generate interest before its company car salary sacrifice scheme went live on 1 April this year.The council's ...
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Analysis
Salary sacrifice company cars: Choosing vehicles and providers
Deciding on the make-up of your fleet and the best provider to meet your needs calls for some careful calculationsWith new offers and providers entering the market all the time, company car salary sacrifice is becoming both more popular and more competitive. Ask any leasing provider whether they are the ...
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Analysis
Salary sacrifice company cars: How to promote the scheme
A varied and effective communication strategy is essential to make sure your scheme succeedsHowever good your offer or provider, if staff do not know about your scheme, are not clear about how it works or simply are not interested, then all that hard preparatory work can come to nothing.Promoting your ...
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Analysis
Salary sacrifice company cars: Understanding the risks
Fleet salary sacrifice is not without its risks, and employers and employees should recognise the potential financial pitfallsCompany car salary sacrifice schemes bring many benefits, both to employer and employee, but they are not risk-free and will not suit every business.It is imperative that both employers and employees are fully ...
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Analysis
Salary sacrifice company cars: How to implement a scheme
Planning, communication and co-ordination are vital elements to get a fleet salary sacrifice scheme off the groundOne of the attractions of fleet salary sacrifice for the employer is that, if it is done well, there should not be a great deal of internal administration needed once the scheme is up ...
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Analysis
Salary sacrifice company cars: What is salary sacrifice?
Salary sacrifice is a tax-efficient way to give staff access to company cars. Both employee and employer save on tax and NI contributionsIn the post-recessionary economic climate, salary sacrifice means more than you might first think.At a technical level, company car salary sacrifice is, simply, a mechanism through which an ...
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Case Studies
Case Study: Informa
Publishing company Informa employs 8,500 people worldwide and has been recognised as one of Britain’s top employers by the CRF Institute for three years running, scoring full marks for its pay and benefits package.Thomas Humphris, head office HR and UK reward director at Informa, says: “Our benefits strategy focuses on ...
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Article
Research: Health cash plan market grows
The health cash plan market generated £570 million in 2009, according to new research from Datamonitor.The UK Healthcare Cash Plans 2010 report showed the market demonstrated strong resilience in the recession with the sector witnessing a 1.2% increase.Mahreen Hussein, analyst at Datamonitor and author of the report, credited the rise ...
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Article
Towry winds up legacy defined contribution (DC) plan
Financial advisory group Towry is winding up the trust-based defined contribution (DC) pension plan of Edward Jones, which it acquired last November.It will offer the firm’s 250 staff the option of joining Towry’s group personal pension (GPP) plan, run by Zurich, or group self-invested personal pension (Sipp).Towry has also increased ...
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Analysis
Pensions roundtable: How to offer a defined contribution pension
In the past, defined benefit (DB) plans operated on a trust basis - a proven format offered along with independent oversight supplied by a board of trustees assisted by professional advisers.But the mass migration to defined contribution (DC) pensions has changed this and put more responsibility on the employer. This ...