All Employee Benefits articles in Web Issue – Page 351
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Linklaters and Clifford Chance top The Legal 500 in employee share schemes
Linklaters has been highly recommended among law firms specialising in employee share schemes, according to The Legal 500.The annual guide to the UK legal profession and the country’s top lawyers is the result of nine months of research and is now in its 23rd year.Linklaters’ blue-chip clients include Aviva, BAE ...
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Many employees wrongly taxed on benefits
Employees receiving benefits such as cars and health club memberships could have paid incorrect tax due to errors by HM Revenue and Customs (HMRC).Employers are urged to offer support to staff as HMRC tries to recover around £2 billion that has been underpaid during the last two years.An internal review ...
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Directors' pensions worth 26 times the average pension fund
Directors of the UK’s top organistaions have amassed pensions pots that are 26 times the average occupational pension, according to the Trades Union Congress (TUC) PensionsWatch survey.The survey, which analyses the pension arrangements of 329 directors from 102 of the UK’s top organisations, shows the average transfer value for a ...
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Royal Mail opens two more onsite gyms
Royal Mail has added onsite gyms to two of its depots: the Mount Pleasant and Paisley sorting offices.Royal Mail now has 27 sites run by Energy Fitness Professionals (EFP).The onsite gyms offer fitness consultations and health checks, programming, weight management, cholesterol and body stat testing, and one-to-one training sessions.Jon Durrant, ...
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Employees' retirement income underfunded
Each year of retirement is funded by just under two years of work, according to Aviva’s latest Real Retirement Report.The report found that due to people living longer, retirement years could be extremely underfinanced.It calculated that today’s people over 55s will live for an average of 88 years, typically working ...
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Female breadwinners are more likely to get divorced
Today’s workplaces are a far cry from the misogynist and smoked-filled offices of the notorious ad agency where Donald Draper resides in the television series Mad Men.However, some of the attitudes harboured by the slick-haired male professionals of the 1960s still exist.New research conducted by Western Washington University suggests women ...
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Fair Care launches benefits management system
Fair Care has launched a voluntary and flexible benefits management system called ‘Benefit Select’ which will be initially rolled out to its 1,000 employer clients.Organisations can use the system to improve the presentation of existing benefits, add or remove benefits instantly, and give employers control and flexibility over their benefits ...
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Warwickshire Police switch eyecare benefits providers
Warwickshire Police has switched eyecare benefits providers.The new provision, supplied by Specsavers Corporate Eyecare, means all of Warwickshire police officers will be provided with full eye examinations and glasses if required.Warwickshire Police will use optical care vouchers for around 950 police officers, and visual display unit (VDU) vouchers for around ...
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Resolution completes acquisition of Axa UK Life
Resolution has completed the acquisition of the Axa UK life businesses comprising protection, corporate benefits and pensions.The combined business is now held by Friends Provident Holdings (UK) which will have almost 6,000 employeesFriends Life, the new brand name for the combined business, is expected to be unveiled in early 2011.Following ...
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Vebnet refreshes its brand
Vebnet has completed a brand refresh to coincide with its tenth anniversary and introduced a new strapline, ‘Shaping Futures Together’.Gerry O’Neill, chief executive officer of Vebnet, said: “We decided it was time to refresh Vebnet’s look and feel, but felt there was no need for a complete rebrand.“The purchase of ...
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ALC Health launches expatriate health insurance plans in UAE
ALC Health has partnered with Arab Orient Insurance Company to underwrite its worldwide health plan for companies and residents in the United Arab Emirates (UAE).The partnership means that ALC Health’s products will be available to the expatriate community.Andrew Apps, director, ALC Health, said: “We are delighted to partner with Arab ...
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Average pay for junior City staff starts to rise
The average pay for junior City staff has risen aggressively over the summer, according to Astbury Marsden, a financial services recruitment firm.Average base salaries for City workers at assistant vice president level have increased by 12% from £62,945 to £70,480 over the last year.Up until the last three months more ...
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Epsilon to introduce pensions salary sacrifice
Epsilon is to introduce a salary sacrifice arrangement to its group personal pension (GPP) plan on 1 November, introduce critical illness insurance and launch an online benefits system.The computer and peripherals firm will roll out the option to its 80 UK staff. Half of the employer national insurance (NI) savings ...
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BA’s Heathrow staff vote to accept flexible working deal
British Airways’ Heathrow staff have voted to accept new working practices which include more flexible working arrangements.The deal, which was agreed with the Unite and GMB trade unions, covers 2,850 staff based at Terminals 3 and 5.This follows agreements already reached with Balpa, the union representing the airline’s pilots and ...
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Birmingham City Council's benefits could be impacted by spending cuts
Birmingham City Council has issued a statement informing employees of possible changes to employment contracts, which could include cuts to car mileage allowances and a review of car parking allocation.In a bid to reduce its net expenditure by £330 million over the next three to four years, the council issued ...
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Pay frozen for more than half of FTSE 350 executive directors
More than half of FTSE 350 companies will not increase the salaries of executive directors in 2010, resulting in a two-year pay freeze for many executives.According to the Executive directors' remuneration report by business advisory firm Deloitte, two-thirds of executives were not awarded a pay rise in 2009. Salary increases, ...
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BBC adds career average scheme to pension proposals
The BBC has proposed adding a career average (Care) scheme called CAB 2011 to its pension proposals.This option joins two previous proposals to members of its defined benefit (DB) scheme: the option to stay in the scheme with a 1% annual cap on the future growth of pensionable pay or ...
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The BOC Group achieves good bikes for work take up
The BOC Group has achieved a 4% take up of its cycle-to-work scheme since it was launched in May. This is †double the average scheme take up of 2%.The scheme was launched after a ‘Green Ideas At Work’ campaign highlighted employees desire for a green way to commute to work.As ...
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Edenred launches travel booking website
Edenred has launched a travel booking website to enhance its travel reward offering.The website allows recipients of its Compliments Passport reward programme and Travel Club members to view holiday offers and specials deals, and book holidays online.Edenred’s Travel Clubs are a free benefit that organisations can offer employees, which sources ...
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Mercer research: Majority of organisations reviewing expatriate benefits
Nine out of 10 organisations are planning to review or revise their global expatriate policies, including benefits and allowances, in order to cut costs.According to Mercer’s ‘International Assignments Survey 2010’ which collects data from over 220 multinational firms across all industries, among all regions, benefits (housing, education and home leave) ...