All Employee Benefits articles in Web Issue – Page 392
-
Analysis
Thought leaders: Academic insights: Financial knowledge is an essential skill
Key points 71% of people blame a lack of personal finance understanding for debt. 7% learn about personal finance from parents and 4% from banks; 81% pick it up through trial and error. 16% of Brits are not knowledgeable about personal finance until they are at least 35 years old. ...
-
Analysis
Thought leaders: Academic insights: Renting cars by the day can save money
Key points Many company-provided cars are under-utilised Grey fleet cars are now subject o health and safety regulations Daily rental contract rates can be cost-effective and software can assist with in-house monitoring†Daily rental could be a cost-effective way to provide cars for business use, says Peter CookeConventional wisdom suggests that ...
-
Article
Working Families research: Employers prepared for additional paternity leave
More than half (60%) of employers have already updated their policies to reflect the introduction of additional paternity leave (APL) and additional statutory paternity pay (ASPP), according to a survey carried out by Working Families.The APL Survey, which polled 250 employers, aimed to determine UK organisations’ readiness for the changes ...
-
Article
Mercer adds financial education to its workplace savings product
Mercer has partnered with Life Academy to offer financial education seminars for employees approaching retirement. The seminars have been added to Mercer's workplace savings product.The seminars will help employees plan and manage their finances for retirement, including their pensions benefits, savings and investments. Tax and estate planning, and buying an ...
-
Article
ALD Automotive research: Financial directors more concerned with rising fuel costs than VAT increase
Over half of UK financial directors (53%) are more concerned about the impact of the rising price of fuel on their business than the recent VAT rise, according to research from ALD Automotive.The ALD corporate survey also found that one in ten respondents would expect their business to make redundancies ...
-
Article
Asda and Panasonic staff warned on childcare vouchers tax relief
Asda and Panasonic have communicated next month’s changes to childcare vouchers tax relief to staff.From 6 April 2011, only basic-rate taxpayers will receive full tax and national insurance (NI) relief on up to £55 a week. Tax relief will be restricted to £28 for 40% and £22 for 50% taxpayers, ...
-
Article
Childcare Voucher Providers Association launched
The Childcare Voucher Providers Association (CVPA) has been launched as the industry body to represent employer-supported childcare providers and to promote best practice within the sector.The CVPA has set out a code of practice for its members, with particular emphasis on the required standards to ensure the secure delivery of ...
-
Analysis
Healthcare cash plans can be a bargain
If you read nothing else, read this... Low-cost health cash plans can deliver value as long as staff actually benefit from the limited cover they provide. Establishing what expenses staff are likely to claim for, and communicating the value of the cash plan, is key to achieving cost-effectiveness. Plans should ...
-
Article
Office of Tax Simplification recommends retention of tax relief on childcare, bikes and green cars, but not on EAPs
The independent Office of Tax Simplification has presented its ‘Review of tax reliefs’ report to the Chancellor.After an interim report was published in December 2010, the Office of Tax Simplification received comments and feedback from taxpayers, advisers, HM Revenue and Customs, HM Treasury. and other interested bodies. The new report ...
-
Case Studies
Case study: Cable and Wireless broadcasts a win-win fleet solution
Cable and Wireless Worldwide launched an environmentally friendly, cost-conscious, salary-sacrifice car scheme for its 5,000-plus UK staff at the beginning of August 2010.The scheme is set up on a two-year basis and is available for employees to join at any time. After the two years, staff can choose to return ...
-
Article
National Grid introduces salary sacrifice car scheme
National Grid has introduced a salary sacrifice car scheme to its 10,000 UK employees.The scheme is available through National Grid’s online flexible benefits scheme, provided by Vebnet, with vehicles provided by Tusker.After a soft launch in November and roadshows held at National Grid offices across the UK, the scheme was ...
-
Article
Income tax charge for senior executives’ company cars
Senior executives who benefit from company car schemes and owner-directors with luxury cars are to be hit with a new income tax charge from 6 April.Under the new rules, the P11D tax paid on company cars, such as Ferraris, Lamborghinis, Bentleys and top-end Mercedes and BMWs, will increase significantly as ...
-
Case Studies
Case study: Trader Media offers self-service fleet scheme
Trader Media Group (TMG) fully outsourced the management of its cash allowance scheme and car fleet to Zenith Provecta in 2009.The publisher, which owns the Auto Trader website, runs a fully expensed company car and fuel card scheme for its 256 essential business drivers, most of whom work in sales ...
-
Article
Damovo launches group personal pension scheme
Communication technology firm Damovo has launched a group personal pension (GPP) plan. The scheme, which will be provided by Goddard Perry Consulting, will have 220 members.Goddard Perry Consulting will also provide workplace advice and face-to-face communication relating to the pension for the firm’s employees.Steve Goddard, managing director of Goddard Perry ...
-
Article
Government to delay extension to the right to request flexible working
The government has announced it will delay regulations extending the right to request flexible working to parents of 17 year olds for all businesses, which were scheduled to be introduced on 6 April.Working parents currently have the right to request flexible working if they have a child aged 16 and ...
-
Article
Standard Life research: Employers feel responsible for employees’ financial security
Eight in ten (80%) employers feel responsible for their employees’ financial security, with nearly a quarter (22%) feeling primarily responsible.†According to Standard Life’s Insights into Financial Responsibility (IFR) report, 65% of employers believe employee communication has improved over the past five years. However, almost the same number of employees (64%) ...
-
Article
Executive Offices Group research: Flexible working enhances productivity
The majority (87%) of respondents to the Executive Offices Group’s (EOG) Customer Service Survey said the greatest benefit for an employer offering flexible working is an increase in the efficiency and output of staff.Respondents to the survey, which included entrepreneurs and small and medium enterprises (SMEs) from the financial services, ...
-
Article
E.On switches on new flex perks and puts PMI in trust
E.On has added new benefits to its flexible benefits plan and switched its private medical insurance to a healthcare trust.The PMI scheme, provided by Simplyhealth, is employee-funded for most staff and is also available to families.Ant Donaldson, senior specialist – employee benefits at E.On, said: “PMI has insurance premium tax ...
-
Analysis
Fleet policies go greener
If you read nothing else, read this...During the financial crisis, employers were hesitant to acquire new cars, so it became more common to extend hire contracts.Employers are looking to greener cars to reduce the cost of running a fleet.Employers are monitoring business miles, considering whether travel is necessary and if ...
-
Article
ECJ ruling could impact retirement incomes
The European Court of Justice (ECJ) has ruled that unisex premiums and benefits will apply from 21 December 2012.The ruling means gender cannot be used as a factor in the calculation of insurance premiums and benefits.A statement from the ECJ said: “Taking the gender of the insured individual into account ...