All Employee Benefits articles in Web Issue – Page 503
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EXCLUSIVE: EB Summit: Staff need 'reality check' on need to save
Key communications to staff about retirement should relate to the expectations employees have about current savings and the most tax-efficient way to invest, according to Frances Corbett, educational development manager at the National Association of Pension Funds (NAPF).Addressing delegates at the Employee Benefits Pensions and Workplace Savings Summit, Corbett said ...
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EXCLUSIVE: Personal Group aligns charity activities with Olympics
Personal Group is to align its staff charity fundraising activities with the London 2012 Olympic and Paralympic Games.The benefits provider will host a team fitness challenge, Wii Olympics and skydiving. All proceeds will go to local charity Willen Hospice.Since it chose the palliative care and support charity in July 2011, ...
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News analysis: Osborne stirs pension pot
Pensions are one of the most significant employee benefits affected by the Chancellor's Budget Report last month, says Nicola SullivanChancellor George Osborne's Budget Report contained a number of measures affecting benefits, notably pensions.One of the most significant changes was the introduction of a flat-rate, single-tier state pension.Martyn Cross, a director ...
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Staff pick bikes-for-work for cost savings
More than 80% of respondents to Evans Cycles’ annual Ride2Work survey said joining a bikes-for-work scheme was very appealing in the current economic climate.The survey polled over 300 staff, who have used a bike scheme in the last six months.It found the main reasons for joining a scheme are: to ...
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EXCLUSIVE: Equity Insurance brings in job grading and performance pay
Equity Insurance Group is to introduce a job grading structure aligned with pay and benefits, as well as a pay-for-performance scheme, for its 1,200 UK staff.It has categorised job roles into bands, to which benefits and salary will be aligned, in a bid to achieve greater consistency. It hopes to ...
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EXCLUSIVE: Vodafone updates reward website with mobile version
Vodafone Group is to launch a mobile version of its reward website to modernise communication of its sharesave scheme, share incentive plan (Sip) and executive bonus plans to its 10,000 UK employees.Since 2011, staff have received a personalised Reward Talk email giving reminders and links to third-party providers.Bob Costa, head ...
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Lifting Nest restrictions may help small pension pots
The removal of restrictions on the national employment savings trust (Nest) could help to reduce the number of small pension pots.Last month, the House of Commons' Work and Pensions Select Committee recommended lifting the contribution cap and the pension transfer ban on the operation of Nest.Darren Philp, director of policy ...
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HMRC rethink on tax rules for smartphones
Employees could be disadvantaged after HM Revenue and Customs (HMRC) changed its definition of mobile phones for tax purposes to include smartphones and personal digital assistants.Previously, HMRC had said a mobile could be offered as a tax-efficient benefit to staff, but to be classified as such, its primary purpose had ...
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EXCLUSIVE: BNP Paribas focuses on staff wellbeing
BNP Paribas has expanded its focus on employee wellness by appointing an onsite health and wellbeing manager and onsite physiotherapist, and hosting regular health and wellbeing events.This is all part of the bank’s ‘Help yourself to health’ programme, which was rolled out earlier this year.The firm has appointed the manager ...
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EXCLUSIVE: Standard Life engages staff with GB basketball sponsorship
Standard Life is using its sponsorship of the British men’s, women’s and wheelchair basketball teams as the focus for a staff motivation and engagement programme in the lead-up to the London 2012 Olympic and Paralympic games.Laura Laidlaw, sponsorship manager at Standard Life, said: “We felt it was important to hook ...
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EXCLUSIVE: Ocado launches second sharesave scheme
Ocado has launched its second sharesave scheme, using targeted communications to reach its diverse, mainly weekly-paid, workforce.The online grocery retailer has 22% monthly-paid, office-based staff, and 78% weekly-paid workers, including drivers. Its 2012 sharesave scheme, effective from this month, has achieved a 31% take-up by monthly-paid staff and a 10% ...
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EXCLUSIVE: London Overground to cut staff DB pension contributions
London Overground Rail Operations is set to reduce the level of employee contributions into its defined benefit (DB) final salary pension scheme.This is possible because the DB scheme is in surplus, so it has more assets in its fund than it needs to meet its liabilities to pay current and ...
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Majority of respondents believe fit notes are not effective
The majority (90%) of respondents do not believe the fit note is effective, according to research by the Chartered Institute of Payroll Professionals (CIPP).Fit notes, which were introduced in April 2010, were the result of Dame Carol Black’s 2008 review of the health of Britain’s working age population.Diana Bruce, senior ...
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Cyclescheme and British Cycling partner to promote bikes for work
Bikes-for-work scheme provider Cyclescheme and the national governing body for cycling, British Cycling, have partnered to promote cycling and its benefits, increase cycling knowledge, and encourage UK workers to cycle to work.The two organisations are also aiming to build on the popularity of cycling to support government targets to reduce ...
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Agrovista implements online payroll system
Crop management firm Agrovista UK has introduced an online payroll system.Prior to introducing the Saas payroll and online reporting system, provided by Ceridian, the firm was reliant on manual payroll processes for its 275 employees, using spreadsheets to capture information.Tracey Winson, head of HR at Agrovista UK, said: “The payroll ...
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Salary increase levels remain constant
Salary increase levels have stayed constant throughout the winter, according to research by Aon Hewitt.The consultancy’s latest Salary survey, which polled more than 440 organisations in 39 countries across Europe in January and February 2012, found that salary increase levels in the UK have remained unchanged at 3.2% over the ...
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Staffcare to launch auto-enrolment software
Staffcare is to launch an auto-enrolment platform.The product will manage the administration, compliance and reporting of employer's auto-enrolment requirements.It is available as a standalone product or can be used as an integrated suite of products, including total reward, flexible benefits and HR self-service.The product also:Allows users to gauge the financial ...
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FTSE 350 pension scheme deficits increase by £17bn
Defined benefit (DB) pension scheme deficits in the FTSE 350 have increased by £17 billion, according to research by Mercer.The consultancy’s Pensions risk survey highlighted the difficulties that employers have in managing their DB schemes in the face of market volatility.The research estimated that the aggregate pension deficit of FTSE ...
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Capita Hartshead to acquire Bluefin Corporate Consulting
Capita Hartshead is to acquire employee benefits firm, Bluefin Corporate Consulting, from Axa.The deal, worth £50 million, will see Capita Hartshead and Bluefin Corporate Consulting merge.Axa will retain the Bluefin trading name. Its other operations, including Bluefin Insurance Group and Bluefin Personal Consulting, do not form part of the transaction.Mike ...
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Savills’ employees share £111m in profit share and commission
Employees at property agency Savills shared £111 million in profit share and commission payments in 2011.This is the first payout through the firm’s performance share plan, which replaced its previous executive share plan in May 2011.Awards under the performance share plan are made on a discretionary basis, to executive directors, ...