All Employee Benefits articles in Web Issue – Page 527
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Analysis
How retirement savings are impacting workforce planning
If you read nothing else, read this. . . The combined effect of the removal of the default retirement age and the increasing state pension retirement age means that many employees will seek to work for longer to increase their retirement savings. Employees may choose to work for longer for ...
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Analysis
Who are self-invested personal pensions suited to?
If you read nothing else, read this.... Many corporate self-invested personal pensions (Sipps) exist as an added extra to a group personal pension and are typically used by higher earners contributing at least £300 a month.Corporate Sipps can be used as taxefficient vehicles in which to hold company shares, as ...
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Article
Winners of the Employee Benefits Awards 2012
Asda, BT, Kraft Foods and McDonald’s Restaurants were among the winners at the 2012 Employee Benefits Awards.Read details on why our winners won, and which organisations made the runners up lists in our special publication ‘The winners 2012’ (click on the image of the cover).
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Article
EXCLUSIVE: D Young and Co. adds benefits using NI savings
Law firm D Young and Co. has added a range of perks to its flexible benefits scheme funded by the employer’s national insurance (NI) savings gained from its pensions salary sacrifice arrangement.The new benefits, suggested by the firm’s 180 staff through its annual employee survey, include financial education workshops, an ...
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Article
News analysis: Riding out the pension investment storm
Volatile markets call for new investment strategies to minimise risk to DC pension default funds and members must be kept informed, says Nicola SullivanMarket volatility caused by the eurozone crisis has made it more important than ever for employers to review the default funds of their defined contribution (DC) pension ...
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Article
Employee Benefits Summit: Reward 'must shift focus from austerity to growth'
The reward balance needs to be shifted from austerity to growth, said Duncan Brown, principal, compensation and talent at Aon Hewitt.During his session, 'Pay management in 2012: Back to the fundamentals' at the Employee Benefits Summit 2012, Brown said: "There is no doubt that the government has overdone the austerity ...
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Article
Employee Benefits Summit: Badly designed packages 'can cause excessive pay'
Badly designed bonus or reward packages are the most likely cause of 'excessive' executive pay, according to delegates at the Employee Benefits Summit 2012.Half of delegates said this was the case, while 43% said the war for talent was the most likely cause.Speaking in a session entitled 'Winning the high ...
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Article
Employee Benefits Summit: Fit notes 'do not work'
Over 80% of delegates at the summit said the new system of fit notes does not work in their organisation. Just 7% said this was a great help.Employers are dissatisfied with the system, said David Frost, co-chair of Health at work: an independent review of sickness absence, during a session ...
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Article
Employee Benefits Summit: Novartis Pharmaceuticals uses seminars to engage staff
Novartis Pharmaceuticals conducted seminars to educate staff about their benefits packages. After the seminars, employees rated their understanding of their package and its value proposition. Average rating was 4.5 out of five.In a case study presentation at the Employee Benefits Summit 2012, delegates heard how Novartis implemented a number of ...
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Article
Spire Healthcare introduces voluntary benefits
EXCLUSIVE: Spire Healthcare is rolling out a voluntary benefits scheme to its 7,600 employees as part of efforts to raise awareness of its entire reward package.The organisation, which operates private hospitals, is rolling the scheme out on a site-by-site basis and has done so for about 2,000 staff so far.The ...
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Article
EXCLUSIVE: University of Lincoln staff participate in Global Corporate Challenge
The University of Lincoln has 231 staff participating in the Global Corporate Challenge, has partnered a university in Australia to track each other’s progress, and has hosted a roundtable discussion on its bikes-for-work scheme.The university has taken part in the challenge, which runs from May to September for three years, ...
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Article
EXCLUSIVE: East Thames Group staff log in to online perks portal
About half of the staff at social landlord East Thames Group have registered with the new online benefits portal it launched in April.Available benefits include discounted gym membership, childcare vouchers, bikes for work, and health and wellbeing perks.East Thames Group also uses its Benefit Select portal to supply information to ...
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Article
Corporate platforms added during benefits reviews
The most likely reason for an employer to introduce a corporate platform would be as part of an overall review of benefits, according to research by The Platforum.The Corporate platform guide, published in June, showed 27% would do so as a bolt-on to existing benefits and technology, and 24% would ...
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Article
The Pensions Regulator warns employers on auto-enrolment inducements
Laws prohibiting inducements around auto-enrolment came into effect on 1 July.The Pensions Regulator (TPR) has published a reminder that it will take action where it sees evidence of inducement. This includes an initial fine of up to £400, with escalating penalties of up to £10,000 a day for larger employers.Charles ...
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Article
FirstGroup staff take advantage of voluntary benefits scheme
EXCLUSIVE: More than 5,000 staff have registered for FirstGroup’s voluntary benefits scheme since it was launched in April.This has resulted in a spend that is approaching £500,000, as well as £32,000 worth of savings among staff taking part. The first two days after the launch saw 2,048 registrations and an ...
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Article
EXCLUSIVE: Coutts creates framework to align job roles globally
Coutts has created a global career framework that clearly defines career levels and job roles to make its reward and pay more transparent across 12 countries.The private banking and wealth management services arm of the Royal Bank of Scotland undertook a review of its framework in conjunction with consultancy Hay ...
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Article
HarperCollins offers digital device loans
EXCLUSIVE: HarperCollins has introduced a digital device loan scheme that enables employees to purchase an iPad, laptop or non-contractual mobile phone for their personal use.The scheme offers the publishing firm’s 900 UK staff an interest-free loan to buy a device, capped at a maximum spend of £500. Employees then repay ...
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Article
EXCLUSIVE: Bwin.Party introduces international recognition programme
Bwin.Party is introducing a global recognition programme for its 2,700 employees working across three continents.The programme, provided by Corporate Rewards, enables the company's employees to recognise their colleagues with a 'thank you' and points to spend in an online reward shop.However, the structure of the online gaming organisation's business has ...
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Article
Group risk supplement 2012
Employee Benefits has published a report on the latest trends and topics around group risk benefits.The report covers:What to do when rebrokingHow providers give added valueStrategies for managing long-term absenceGroup income protection versus life insurance
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Article
FTSE 250 pension deficit at £11 billion
The total deficit of FTSE 250 company pension schemes stood at £11 billion, as at 31 December 2011, a deterioration of £5 billion from the same time last year, according to research by JLT Pension Capital Strategies.The research found that total deficit funding in 2011 was £1.5 billion, up from ...