All Employee Benefits articles in Web Issue – Page 363
-
Analysis
Is an active or passive default fund best for DC pension schemes?
If you read nothing else, read this...Passively managed default funds are set up to track various indices, for example the FTSE 100. The fund is managed by a computer program linked directly to the stock market that is being tracked.Actively managed funds, using human intervention, aim to outperform indices.Passive funds ...
-
Case Studies
Case study: Parenting network adds up for KPMG
KPMG offers its 10,200 staff a variety of childcare and flexible working options, including childcare vouchers and emergency childcare.In 2009, the professional services firm formed the KPMG Parenting Network to offer information through a dedicated website, networking events, training seminars and an opportunity for parents to offer each other advice.Gaynor ...
-
Article
Lex Autolease research: Company car voted top salary sacrifice benefit
More than 20% of employers would opt for a company car above other salary sacrifice benefits, according to a survey from Lex Autolease.Conducted among 130 employees, the survey also found 78% of respondents would take up a salary sacrifice car if they had to replace a privately owned one.A similar ...
-
Article
Busy Bees moves back into childcare voucher business
Busy Bees, the childcare provider, has moved back into the childcare voucher market with the launch of Busy Bees Benefits.Busy Bees sold its original childcare voucher business to Computershare in 2008, and under the terms of the deal Busy Bees agreed not to offer childcare vouchers under the Busy Bees ...
-
Article
Employers believe staff are responsible for own financial education
The majority of employers (83%) believe it is the individual’s responsibility to educate themselves about financial matters, according to a new report from the Pensions Management Institute (PMI) and Standard Life.The DC Pulse research also found that just 34% of employers reported a take-up rate of more than 80% in ...
-
Analysis
Switching from defined benefit to defined contribution pension can be a positive step
If you read nothing else, read this…Changes in life expectancy, the economic downturn and mobility in the labour market have contributed to the shift from defined benefit (DB) to defined contribution (DC) schemes.Many staff perceive DB plans to be of greater value than DC, but this is not necessarily so. ...
-
Article
Pensions salary sacrifice tops list of valued benefits for UK staff
Over half (56%) of UK employees would sacrifice pay for a higher pension contribution by their employer, according to Aon Hewitt.Its European Employee Benefits Benchmark, which surveyed more than 7,500 employees in Belgium, Denmark, France, Germany, Ireland, the Netherlands, Norway, Spain, Switzerland and the UK, focuses on topics such as ...
-
Case Studies
Case study: Oscar Mayer employees join the voluntary benefits club
Food production company Oscar Mayer launched an employee benefits club in 2000 to give all staff the opportunity to take up voluntary benefits.†The club was initiated by company owner and chairman John Bigwood because, like most similar organisations at that time, benefits were provided for its managing directors and senior ...
-
Article
Santander launches benefits for working parents
Santander has increased its maternity and paternity leave for employees as part of a package of benefits designed to cater for the needs of working parents.The bank's package Passport to Parenting will provide most employees 14 weeks maternity pay followed by 25 weeks' statutory pay. Fathers-to-be will also be entitled ...
-
Analysis
Benefits to support working parents
If you read nothing else, read this...Childcare vouchers and on-site nurseries are flexible, tax-efficient ways to cover staff childcare costs.Emergency childcare is a back-up service that can be offered as a core benefit, a voluntary benefit or as part of a flexible benefits package.Flexible working encompasses part-time working or flexible ...
-
Article
Teignbridge District Council to consider benefits cuts
Teignbridge District Council is to look into potential savings that could be made from reductions in employee benefits.In a meeting on Monday 29 November, the council will consider proposals that include ending essential car allowances, either only for those who travel less than 1,000 miles per year, or for all ...
-
Article
Freshfields Bruckhaus Deringer introduces emergency care
Law firm Freshfields Bruckhaus Deringer has introduced up to 10 free back-up care sessions a year for every London-based employee.The sessions, which cover childcare, eldercare, dependent adult care and school holiday cover, enable staff to search for and book a qualified nanny, childminder, nursery place or local back-up domiciliary homecare ...
-
Article
Inchcape Fleet Solutions launches salary sacrifice company car scheme
Inchcape Fleet Solutions has launched a salary sacrifice company car scheme with risk elimination following demand from employers.The Justdrive scheme delivers a range of flexible insurances to safeguard employers against unforeseen termination charges if an employee leaves the company.An online portal will help employees in the decision making process with ...
-
Article
Interserve Project Services introduces carbon reporting tool
Interserve Project Services (IPS) has introduced a carbon reporting tool for its 1,200 drivers as part of efforts to cut its total fleet CO2 emissions by around 5% a year.The tool, recently launched by mileage and fuel cost management firm TMC, is designed to deliver a 23% cut in annual ...
-
Article
GMG Radio to provide healthcare cash plans
GMG Radio has signed a contract with Medicash to provide employees with healthcare cash plans.The cash plans will give the 400 GMG Radio employees a range of benefits, including dental and optical care, as well as access to complementary therapies and discounted gym membership.The national radio business, which encompasses the ...
-
Article
Mozolowski and Murray extends health cash plan cover
Conservatory designer Mozolowski and Murray has extended the coverage of its employer-funded health cash plans for staff.The firm, which introduced cash plans for staff two years ago, has upgraded its offering to include larger cash payments for medical treatments and a greater range of procedures.From last month, employees have access ...
-
Article
Toyota Tsusho to educate staff on pension changes
Toyota Tsusho UK is to introduce financial education sessions to show its employees how their pension is performing after introducing a new pension scheme and switching providers.The resources trading firm introduced a group personal pension (GPP) plan, provided by Aegon, in June after closing its previous defined contribution (DC) scheme ...
-
Article
Government issues guidance on changes to employer-supported childcare
As a result of the changes to employer-supported childcare schemes due in April 2011, HM Revenue and Customs has issued guidance on changes that employers and employees should be aware of.Under current arrangements, employees on higher earnings receive a greater tax saving than those who pay tax at the basic ...
-
Case Studies
Nielsen success with new childcare voucher provider
Nielsen, the global market research company, has seen 10% of its workforce take up childcare vouchers.This follows a change of provider to one which was able to provide Nielsen with the personalised support it needed in the marketing, administration and market updates on childcare vouchers.Before switching provider, Nielsen conducted a ...
-
Article
Legal and General launches two new financial education modules
Legal and General has launched two more interactive modules to help employees gain a better understanding of their finances.As part of its workplace saving platform, WorkSave, Legal and General has released two new true-to-life scenarios featuring the fictional Cash family to help employees manage money and find financial help.The scenarios ...