All Employee Benefits articles in Web Issue – Page 537
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Benefex appoints new chairman
Benefex has appointed Steve Bellamy as chairman.He will take over from current chairman Peter Waller who will become executive director at the online employee reward and benefit schemes provider.Bellamy will also remain as chairman at Becrypt, a cyber-security technology specialist. His previous roles include non-executive director at Advanced Medical Solutions ...
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Many higher rate taxpayers do not contribute to a pension scheme
One in four higher rate taxpayers do not contribute to a pension scheme, according to research by Prudential.Nationally, this means 216,000 employees are missing out on up to £438 million per year in pension tax relief.According to the study, of those earning between £42,275 and £149,999, 21% say they cannot ...
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Defined benefit pensions impacting businesses
It would take over one year to repay the defined benefit (DB) pension scheme deficit using all cash generated from day-to-day operations for 29 firms in the FTSE350, according to research by Barnett Waddingham.The study found that over 49 FTSE350 businesses have DB pension deficit contributions that exceed their free ...
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Workers spend 27 minutes gossiping a day
The average office worker spends 27 minutes and 27 seconds a day gossiping with colleagues, according to research by Mars Drinks Office Connections.This length of time rises for HR professionals who spend on with the average 29 minutes and 26 seconds talking to colleagues about non-work related subjects.The survey, carried ...
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Women may miss out in retirement
Women’s pension pots are worth 67% of male counterparts, according to research from Bluefin Corporate Consulting.The analysis found that women have pension savings found that this was in part due to lower salaries and lower employee contribution rates of 4.25% for women compared with 4.93% for men.Bluefin Corporate Consulting warns ...
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OTS unapproved share review may help unquoted companies
The Office of Tax Simplification’s (OTS) review of unapproved share schemes is likely to be of help to unquoted firms, says Nicholas Stretch at CMS Cameron McKenna.The review is looking at areas of simplification in unapproved share schemes such as long term incentive plans.Stretch says that the areas in which ...
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Employers offering workplace savings
Only one fifth of employers are not making provision for staff to take advantage of tax breaks around workplace savings, according to research by Employee Benefits.The Employee Benefits/Premier pensions and workplace savings research 2012 found the number of employers offering no provision has fallen to 20% from 57% in 2011, ...
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You at Work chooses Gresham Computing as technology partner
Employee benefits provider You at Work has chosen Gresham Computing as its cash and transaction technology partner for its benefits programmes.Gresham Computing, a provider of transactions control technology to international financial institutions, and You at Work, have been working together for the past five years on various projects, including the ...
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A quarter of respondents do not understand their payslip
Just over a quarter (26%) of respondents do not understand everything on their payslip, according to research by the Chartered Institute of Payroll Professionals (CIPP).The research was conducted in the lead-up to National Payroll Week 2012, which takes place from 3 to 7 September.It also found that 14% of respondents ...
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BGL Group increases take-up in employee engagement survey
BGL Group has achieved a 76% engagement rate for its latest employee survey.The global financial services firm has seen engagement in its employee survey continue to grow since it was introduced in 2009.Initial results that year showed 58% of employees were engaged, while the 2010 survey saw this increase to ...
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Esop Centre launches ‘Save our Csop’ survey
The Employee Share Ownership Centre (Esop Centre) has published a survey to encourage employers to speak out against the abolishment of company share option plans (Csops).A Csop is an HM Revenue and Customs (HMRC)-approved plan that provides an employee with an opportunity to acquire shares in their employer.The survey follows ...
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DWP issues statement on simplifying the state pension
The Department for Work and Pensions (DWP) has issued a statement on the proposed simplification of the state pension.As confirmed in the 2012 Budget in March, the government will introduce a flat-rate, single-tier state pension, currently estimated at around £140 a week.It will replace the current state pension, which is ...
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Travis Perkins Group launches pensions master trust
Travis Perkins Group is to launch a pensions master trust, combining all its contract- and trust-based schemes into one.The scheme, called the Travis Perkins Group Retirement Savings Plan, will be provided by Standard Life.It will launch in September 2012, in advance of the building and home improvement materials organisation’s auto-enrolment ...
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Huntsman aims for full flexible benefits
EXCLUSIVE: Huntsman, the global chemicals manufacturer, is treating the flexible benefits programme it launched in January as a three-year pilot.Speaking at Employee Benefits Live Asia in Singapore in August, Hans Han, head of compensation and benefits Asia Pacific at Huntsman, explained that employee communication and feedback was ongoing.Huntsman, which employs ...
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TPR should provide more flexibility to reduce QE for pensions
The majority (80%) of respondents said The Pensions Regulator (TPR) should provide more flexibility in the current rules to reduce the impact of quantitative easing (QE) for pension schemes, according to research by global fiduciary management provider SEI.The research, which polled trustees, finance directors and pension fund executives from 51 ...
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Scottish Life partners Nest for auto-enrolment service
Scottish Life has partnered the national employment savings trust (Nest) to enable advisers to offer an integrated auto-enrolment service to employers.The Automatic Enrolment Service will be a compliant option for employers, regardless of whether the pension scheme is supplied by Scottish Life or Nest.Scottish Life and Nest will manage joint ...
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Newsquest staff call ballot over pay freeze
Newsquest journalists in Yorkshire and the North East have called for a ballot for industrial action over a pay freeze.The ballot follows a letter to staff from Steve Hughes, managing director at Newsquest York, which confirmed that staff pay reviews would not take place this year due to the difficult ...
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Monday blues are just a myth
The idea that workers hate Monday more than any other day of the week is just a myth, according to research by Gallup and Stony Brook University in New York.The study looked at the effect of each day of the week on positive and negative moods. It found that negative ...
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Global banks claw back staff bonuses
Almost one-fifth (17%) of banks clawed back compensation payments to staff in 2011, according to research by consultancy Mercer.The Financial services executive compensation snapshot survey found that, prior to 2011, 44% of banks had a clawback provision in place and now a further 18% have introduced the measure.The main reasons ...
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Bank of England outlines effect of quantitative easing on pension schemes
The Bank of England has published a paper on the distributional effects of quantitative easing (QE), which says that its implications on people approaching retirement and for pension providers depend on what type of pension scheme is being used and how well it is funded.The paper forms part of the ...