All Employee Benefits articles in Web Issue – Page 372
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Article
Debi O'Donovan: Don't put the brakes on bikes-for-work schemes
In recent months, several benefits and HR managers have pulled their bikes-for-work schemes because of HM Revenue and Customs’ rules on how bicycles should be valued at the end of the loan period.This is a sad state of affairs for a good benefit that, although taken up by very few ...
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Article
The Pensions Regulator in legal challenge with administrators
The administrators for Nortel Networks and Lehman Brothers have launched a legal case to challenge the Pensions Regulator’s ability to impose an order that requires them to provide financial support for underfunded pension schemes.The regulator has issued a Financial Support Direction (FSD) against the two companies on the grounds their ...
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Article
Payroll-giving donations fall
The proportion of employees donating to a payroll-giving scheme has seen a 12% decline, according to a report from Equiniti ICS.The HR and payroll services provider also found there has been a decline in donations of up to 50% since September 2008, coinciding with the recession.Alan Foley, director of Equiniti ...
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Article
Sodexo Motivation Solutions offers chance to win £5,000 in vouchers
Sodexo Motivation Solutions is offering organisations that purchase £500 of its multi-retailer gift voucher, SayShopping Pass, to win £5,000 of the vouchers, as well as the opportunity to enter a free prize draw for £1,000 on its dedicated Christmas competition site.Toy store Hamleys has also joined the SayShopping network.Iain McMath, ...
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Article
Pension schemes able to communicate with members electronically from 1 December
A draft regulation from the Department of Work and Pensions (DWP) that allows pensions schemes to communicate with members electronically comes into effect on 1 December 2010.Following a public consultation exercise between 6 January and 1 March 2010, a number of changes have been made in drafting the Occupational, Personal ...
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Article
Finance Bill 2011: Change to qualifying conditions for childcare vouchers
The government has confirmed the change to qualifying conditions for employers that provide childcare schemes through salary sacrifice or flexible benefits arrangements.The legislation ensures that employers can continue to offer childcare schemes that rely on salary sacrifice arrangements without compromising tax relief for employees.The tax exemptions and national insurance contributions ...
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Article
Finance Bill 2011: Government confirms restriction on tax relief on childcare vouchers for higher-earners
The government has confirmed it will introduce a restriction on the level of tax relief available to higher-rate and additional-rate taxpayers who receive childcare vouchers or directly-contracted childcare.The legislation, announced in the Finance Bill 2011 consultation draft, is due to come into effect from 6 April 2011 and will bring ...
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Analysis
Humberside Police arrests sickness absence and tackles budget cuts
An effective sickness absence management strategy is helping Humberside Police to cope with budget cuts, says Jennifer PatersonWith the government’s budget axe coming down on the public sector, benefits will be under strict review over the next year. The biggest challenge for Humberside Police is to come to grips with ...
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Article
Working parents urged to take advantage of childcare vouchers
Working parents should take advantage of childcare vouchers offered by their employer, before the Government's tax changes affecting the benefit come into effect in April 2011, according to Origen Financial Services.Origen's annual employee benefits survey found 70% of employers offer childcare vouchers.The changes to childcare vouchers announced in the June ...
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Article
New company car advisory fuel rates published
HM Revenue and Customs has published new advisory fuel rates for company cars which will apply to all journeys on or after December 1 2010.For one month after the date of the change, employers may use either the previous or new current rates, and therefore can make or require supplementary ...
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Article
Aston Martin and Eaga Partnership to provide health cash plans
Aston Martin and Eaga Partnership have signed up with Health Shield to provide health cash plans to employees.The schemes will provide nearly 1,000 Aston Martin employees and 4,500 Eaga Partnership employees with cover for everyday healthcare treatment such as dental, optical physiotherapy and complementary therapies.Philip Wood, executive director of sales ...
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Article
Lex Autolease launches salary sacrifice fleet product
Lex Autolease is launching a salary sacrifice product which will be available to all large corporate fleets with more than 500 cars or an employee base above 1,000.Employers can also choose to extend the scheme to employees’ friends and family.Claudia Rose, corporate sales director at Lex Autolease, said: “Our offer ...
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Article
Aviva enhances group income protection product
Aviva UK Health has announced a series of enhancements to its group income protection (Gip) product.These include the introduction of a new escalation rate, which will see payments measured against the retail price index (RPI), and an employee assistance programme (EAP) and 24 hour GP helpline.Steve Bridger, head of group ...
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Article
Aviva launches insurance policy for salary sacrifice car schemes
Aviva is launching an insurance policy for organisations which operate an employee salary sacrifice car scheme.The offering, which has been modelled on Aviva’s Fleetwise commercial insurance product for corporate fleets, has been developed following feedback from leasing organisations, brokers and employers.Through a salary sacrifice car scheme, the employer receives the ...
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Article
Bombardier launches salary sacrifice car scheme
Bombardier Transportation has switched its contract-hire funded company car fleet to a salary sacrifice car scheme for all employees, and aligned it with its environmental strategy.The new scheme, which is provided by Tusker, sets an upper limit of 120g/km of CO2 for all cars. It is open to all UK ...
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Case Studies
Case study: Honda helps money go further for staff
At Honda's factory in Swindon, staff can access benefits to help them make their money go further. The main offerings in the company's "What if..." scheme are a pension plan, which has the option of additional voluntary contributions, childcare vouchers and a cycle-to-work scheme.All employees are also offered private medical ...
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Case Studies
Case study: Schlumberger powers a healthier workforce
Oil and gas firm Schlumberger has reimbursed employees’ gym membership up to a maximum of £250 a year for many years. On 1 July 2010 it rolled out Gymflex, provided by Incorpore, making 2,500 health clubs across the UK and Ireland available to the 3,000 staff who are eligible for ...
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Analysis
Fleet drivers need clear vision
If you read nothing else, read this... There is no legal requirement for employers to ensure drivers have good eyesight, or wear glasses if needed. From 2011, EU legislation will require commercial vehicle drivers to have their eyes tested every five years. Eye examinations can also check for health conditions ...
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Article
North Yorkshire Council cuts fleet emissions
North Yorkshire County Council has cut its fleet's CO2 emissions through a salary sacrifice car scheme for 13,000 employees.Since the scheme went live in April, average emissions across the 200 cars selected by staff have fallen to 112g/km of CO2 from the previous 156g. Cars available through the scheme, provided ...
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Article
The Open University launches financial education course
The Open University is offering a course to help employers provide staff with financial education and encourage them to take better control of their finances.Its ‘You and your money’ course, which covers a range of financial issues including income, expenditure, budgeting and debt, aims to give employees a better understanding ...