All Employee Benefits articles in Web Issue – Page 474
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Article
The Airways Pension Scheme hedges longevity risk
The Airways Pension Scheme is hedging longevity risks relating to more than £1 billion of pension liabilities.The transaction between the pension scheme and Rothesay Life is in respect of pensions payable to current pensioners with a total value of £1.3 billion, in addition to the £1.3 billion longevity hedge that ...
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Article
MetLife Assurance research: Employers could cut back on recruitment to fund auto-enrolment
Employers may cut back on recruiting new staff to fund auto-enrolment, according to research by MetLife Assurance.Although nearly two-thirds (63%) of finance directors have not addressed the issue, 16% among organisations with more than five employees said they would cut back on recruitment in order to fund the new legislation.The ...
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Article
Pensions Policy Institute research: Opting out of auto-enrolment could cut value of retirement fund by 20%
Opting out of automatic enrolment into a workplace pension for the first ten years of working life could cut 20% off the value of the retirement fund, according to research conducted by the Pensions Policy Institute.The report, The impact of opting-out of private pension saving at younger ages, commissioned by ...
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Article
BlueSky Pension Scheme launches all-employer scheme
BlueSky Pension Scheme has introduced an all-employer scheme ahead of auto-enrolment, which commences from October 2012.The scheme will be open to employers from all sectors from 1 January 2012, and is intended to be an alternative to the national employment savings trust (Nest).BlueSky has developed its offering to incorporate target ...
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Article
Aviva research: Employees want easier ways to manage multiple pension pots
Employees want new and easier ways to manage multiple pension pots, research by Aviva has found.The poll of 2,000 employees in the UK found that while almost half (49%) had multiple pots, 58% were unclear of the overall value of their pension savings.However, three-quarters (75%) felt they would not have ...
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Article
Simplyhealth acquires Denplan
Healthcare organisation Simplyhealth has acquired provider of dental payment plans and dental employee benefits, Denplan.The acquisition will help Simplyhealth to gain market presence in a complementary area of healthcare, supporting its broader diversification strategy which has recently involved the acquisition of Groupama Healthcare.Des Benjamin, chief executive officer of Simplyhealth, said: ...
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Article
ABI launches consultation to encourage informed annuity choices
The Association of British Insurers (ABI) has launched a consultation to find out what the industry can do to help people make informed choices when they cash in their pension for an annuity.In September 2011, the ABI announced that it would introduce a compulsory code, binding all its members, to ...
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Article
NHS unions consider the government's latest pensions deal
Several unions representing National Health Service (NHS) employees have said they would consider the final offer made by the government on public sector pension reforms.Unions, including the Royal College of Nursing (RCN), have outlined the latest deal to members and will discuss it with their governing bodies on 10 January ...
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Article
Danny Alexander said outline agreements on public sector pensions have been reached with unions
Danny Alexander, chief secretary to the Treasury, has told the House of Commons that outline agreements on changes to public sector pension reforms had been reached with several public sector unions.Alexander said that the changes to pensions deliver the government's key objectives of amending public sector pensions to a career ...
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Article
Ernst and Young research: Graduates rank training and development over a large salary
Graduates rank training and development over a large salary when selecting a future employer, according to research conducted by Ernst and Young.An online poll, which registered nearly 600 respondents, showed that 41% of graduates view training and development as the most important consideration when weighing up a potential employer. This ...
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Article
Hays research: More than half of public sector workers would sacrifice pension for private sector job
More than half of workers in the public sector would sacrifice their pension for a career in the private sector, according to research conducted by Hays.The Hays Career Outlook Survey showed that although those working in the public sector were fiercely defensive of their pensions, they also found the private ...
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Article
Legal and General research: Stress-related absence more likely to be taken by women
Women are nearly three times more likely to take stress-related absence than men, according to analysis by Legal and General.Using Department for Work and Pensions (DWP) statistics, Legal and General found that between October and December 2010, 31,000 women took sick days citing stress, depression or anxiety, compared to 11,000 ...
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Article
Buyer's guide to total reward statements 2012
Key factsWhat is a total reward statement?This is a document that outlines the full benefits package an employee is entitled to receive, including salary, pension and shares. It can also include less conventional benefits, such as health and wellbeing perks, and workplace training provisions.Where can employers get more information?Employers can ...
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Article
Buyer's guide to employee assistance programmes 2012
Focus on factsWhat is an employee assistance programme (EAP)?An EAP is a worksite-focused programme designed to provide confidential information, support and counselling to employees with personal and work-related problems.Support is available 24 hours a day, seven days a week, by telephone, although increasingly EAP providers are also providing their services ...
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Article
Be clear about the facts on salary sacrifice cars
If you read nothing else, read this …Employers must ensure the wording they use when communicating salary sacrifice car schemes to staff members is not misleading.Employees need to be clear that they do not own the car, the breakdown of the calculations and what the commitment really entails.Paper and electronic ...
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Analysis
Sickness absence review: industry reactions
Will the recommendations from the government’s review of sickness absence management help to reduce the problem? Alison Coleman asks key industry figures for their viewsWith 140 million working days lost in the UK every year, sickness absence is almost a disease in itself and managing it is one of the ...
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Article
EXCLUSIVE: Kantar Worldpanel rejigs age rules for GPP contributions
?Kantar Worldpanel plans to make the age-related contribution structure for its group personal pension (GPP) plan more flexible to comply with the 2012 pension reforms.At the moment, employees of the market research firm who are aged under 35 can contribute 2% and receive a 4% employer contribution, while those aged ...
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Article
British American Tobacco extends fleet contract
British American Tobacco (BAT) has extended its 350-car fleet contract for a further three years.Following a review process, the tobacco group decided to extend its contract with Leasedrive Group. The contract has been in place since 2004.Viv Windrum, fleet manager at BAT in the UK, said: “Following an extensive review ...
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Article
Santander’s salary sacrifice car scheme deemed a success
Employees at Santander ordered more than 160 cars within the first month following the launch of its salary sacrifice car scheme.The scheme, which was launched in October using provider Zenith, is open to all UK-based permanent Santander employees, with an aim of enhancing the bank’s benefits package.The Santander All-Employee Car ...
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Article
EXCLUSIVE: Informa standardises choice of car manufacturers for drivers
To ensure its fleet has low carbon dioxide (CO2) emissions, Informa has standardised the choice ofcar manufacturers for its company drivers.The media organisation’s set manufacturers are now Audi, BMW, Mercedes, Skoda and VW, and the scheme is managed by fleet provider Leasedrive.Thomas Humphris, head office HR and UK reward director ...