All Employee Benefits articles in Web Issue – Page 365
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Case Studies
Case study: DC take-up makes news at ITN
ITN closed its defined (DB) benefit scheme to future accrual and introduced a new defined contribution (DC) scheme on 1 April 2010.When it closed its DB plan, it also introduced salary sacrifice to make the new group personal pension (GPP) more tax-efficient. Staff must put in a minimum of 4% ...
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Case Studies
Case study: Gloucestershire County Council keeps a check on equal pay
In 2007, Gloucestershire County Council began evaluating job roles as part of its efforts to ensure all employees were paid equally, regardless of gender, ethnicity, location or age.It also wanted to ensure there were no discrepancies between departments, and used a job evaluation tool, provided by NorthgateArinso, to scrutinise job ...
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Analysis
Voluntary benefits: Keep up with the latest regulations
If you read nothing else, read this . . .From 6 April 2011, tax relief up to £55 a week on childcare vouchers will be restricted to basic-rate taxpayers.HMRC has issued guidelines on what employers should charge as a fair market value when transferring a bicycle offered through a cycle-to-work ...
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Case Studies
Case studies: How DC pensions can pay off
John, 65, is about to retire. He earns £15,000 a year and has been in a final salary plan for 40 years. It is contracted out (so he does not get Serps or state second pension (S2P)), pays a 1/60th benefit but makes a state scheme deduction of half the ...
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Article
Asda puts voluntary benefits plan online
Asda has launched an online version of its voluntary benefits scheme for its 170,000 staff.It has integrated its Everyone Benefits scheme into its Green Room website, which shows staff what is happening in the business and enables them to share their own stories, pictures and videos.The online plan, provided by ...
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Article
Arqiva video puts workers in the picture on reward value
Communications and media services firm Arqiva has produced an online video to promote the value of reward and benefits to its staff and remind them what they have access to.The video, to be launched this month, includes information about Arqiva's core and voluntary benefits, as well as how its pensions ...
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Article
East Midland Trains launches voluntary benefits scheme
East Midland Trains is launching a voluntary benefits scheme as part of its third birthday celebrations.The scheme, provided by LogBuy, will enable the firm's 2,025 staff to buy goods and services at discounts, as well as nominating local businesses where they would like to receive discounts, such as restaurants and ...
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Article
Admin Re closes defined benefit pension scheme to future accrual
Admin Re has closed its defined benefit (DB) pension scheme to future accrual, improved its death-in-service benefit and provided financial education workshops for staff.The reinsurer had three reasons for the closure. Firstly, its regular review concluded the DB scheme was unsustainable in the long term because of inherent costs and ...
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Analysis
Overcoming negative perceptions of employee assistance programmes
If you read nothing else, read this...Employee assistance programmes were first introduced to treat substance abuse problems.Other common stigmas associated with EAPs are issues with seeking help and confidentiality.Employers can help dispel these fears by regularly communicating exactly what EAPs are, what they can be used for and how they ...
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Analysis
Voluntary benefits: Discounts head the list of popular perks
If you read nothing else, read this . . .Voluntary benefits with the biggest take-up among staff, according to industry experts are:Retail and leisure discountsChildcare vouchersCycle-to-work schemesHoliday purchaseHealth cash plansRetail and leisure deals top the chart of popular choices in voluntary benefits, says Jennifer PatersonOnce seen as the ugly duckling ...
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Analysis
Cabot Financial gives staff immediate rewards
Instant reward is key to the work culture at debt management company Cabot Financial (Europe), says Nicola SullivanWalking round the Kent call centre that is at the heart of debt management firm Cabot Financial (Europe)’s operations, the links between motivation, achievement and reward could not be more obvious. Giant ribbon-dressed ...
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Article
Buyer's guide to critical illness cover
Key factsWhat is critical illness insurance?It provides a lump sum paid out by the insurer to an employee upon diagnosis of a critical illness, as defined within the insurance policy.Where can employers get more information?The Group Risk Development website has more information on group critical illness for employers.The Association of ...
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Article
The Pension Protection Fund's funding position improves
The funding position of the Pension Protection Fund (PPF) has improved with last year's £1.2 billion deficit replaced with a £400 million surplus.The figures, which appear in the PPF’s 2009/10 annual report, show the surplus is mainly the result of financial markets performing better, solid investment returns and less costly ...
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Case Studies
Case study: Spires Healthcare enters the bicycle valuation matrix
Spires Healthcare has adopted HMRC's valuation matrix to determine the fair market value of bicycles in its cycle-to-work scheme. It went live with the latest offer under its Halfords-provided scheme in September, after introducing the benefit for its 7,000 staff in January 2008.Jim Carson, head of reward at the private ...
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Case Studies
Tribunal backed Birmingham female staff
Last spring, an employment tribunal ruled against Birmingham City Council in an equal pay case. About 50 female workers in a variety of roles at the council, including lollipop ladies and cleaners, complained that until 2007 they had been excluded from bonuses worth up to 160% of their basic salary, ...
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Analysis
Voluntary benefits & tax-efficient plans
Download a PDF of the Voluntary benefits and tax-efficient plans supplement†Interview with Karen Thompson of the Institute of Payroll ProfessionalsEmployers can add value while controlling costsKeep up with the latest regulationsDiscounts head the list of popular perks
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Article
Confessions of a benefits manager: Moving the goalposts
Candid finds herself in the role of facilitator at a top management conference, which calls for some delicate group discussionsThere are three words that leave me trembling with fear: top management conference. There - just writing it makes me feel slightly wobbly. Every year, the top 200 managers in the ...
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Article
Majority of directors have experienced a pay cut
The majority of private sector directors received a pay cut in real terms in 2010, according to a survey by the Institute of Directors (IOD).Its annual Directors Rewards survey found nearly half (46%) of directors have had either a pay freeze or a pay reduction in cash terms in 2010.The ...
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Article
Employee Benefits Salary Survey 2010
Reward levels for compensation and benefits professionals have begun to edge upwards as employers slowly loosen constraints after the recession, says Debbie LovewellEmployee Benefits surveyed 466 people responsible for managing compensation and benefits in their own organisations for the Employee Benefits Salary Survey 2010. The majority (80%) of respondents were ...
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Article
Origen and Staffcare form partnership
Origen Financial Services and Staffcare have formed a partnership agreement.Origen, the national firm of independent financial advisers, will be using Staffcare's software platform to launch the Origen Benefits Portal, which will include a new suite of online tools to help employers with benefits communication and administration.Each module of the online ...