All Employee Benefits articles in Web Issue – Page 556
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Article
Reforms reduce public sector pension benefits
The government’s proposed reforms for public sector pension schemes will reduce the average value of the schemes’ benefits by more than a third, according to research by independent charity the Pensions Policy Institute.The research, The implications of the Coalition government’s reforms for members of the public service pension schemes, looked ...
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Article
Mitie finds staff has talent
Mitie, an outsourcing and energy services firm, held its annual ‘Mitie’s got talent’ competition, which was attended by 400 employees.The event was held to celebrate the organisation’s 25-year anniversary and is part of the firm’s wider strategy to provide a supportive and inclusive environment for its staff.John Telling, head of ...
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Article
Pensioner pay increases by 50%
Average gross incomes for pensioners have increased by an estimated 50% in real terms over the last 16 years, according to research by the Office for National Statistics.The Pension trends 2012 report found that occupational pensions were a “significant” source of income for pensions. The other source of income is ...
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Article
Motivational slap in the face
Something for the weekend…After a difficult day’s work, most employees will have fantasised about the choice words they might use when giving their boss what for, but few would imagine a part of their job being to actually slap them in the face.However, a US computer programmer has hired an ...
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Article
Council pensions should fund UK housing
Local council pension funds should be used to pay for house-building projects to kick-start the housing market, according to a report by The Future Homes Commission.Building homes and communities Britain needs is the result of a commission that was set up in September 2011 by the Royal Institute of British ...
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Article
Businesscycle website launched
A website has been launched to provide employerss with a one-stop shop for information on all areas of cycling and to help them encourage employees to take up cycling.The Businesscycle website, which has been developed by the Cycle to Work Alliance, Transport for London (TFL), Business in the Community, British ...
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Article
Carberry appointed to Low Pay Commission
Kay Carberry, assistant general secretary to the Trades Union Congress, has been appointed commissioner to the Low Pay Commission.Business Minister Jo Swinson, who announced the appointment, said: “The national minimum wage has been a huge success since it was introduced, making millions of workers better off.“The Low Pay Commission gives ...
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Article
The Entertainer celebrates year of payroll giving
EXCLUSIVE: The Entertainer has spent the last three months celebrating the one-year anniversary of its payroll-giving scheme.The celebration campaign included a party at head office, at which charities gave presentations to staff, and a national cake-baking competition, at which winners received cash prizes to donate to their charity of choice.The ...
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Article
Workplace Savings Quarterly – November 2012
The fourth Workplace Savings Quarterly rounds up the main issues and topics around workplace savings.The report (download PDF, top right) covers:How to prepare staff for the transition to retirementPadraig Floyd: Ignore Clegg’s pension stuntMick McAteer: Auto-enrolment will aid inclusionAlternative savings vehicles are appealing to staffThe difference between active and passive ...
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Analysis
BT Group educates staff about retirement options
The desire to educate employees about their retirement options was one of the key drivers behind BT Group’s decision to launch a pre-retirement programme for its older workers three years ago.Dennis Gissing, head of diversity practice at BT, says: “We perceived this to be a gap in what we were ...
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ArticleWhite paper — financial education: get the value message across
Employees have a pressing need for financial education in the workplace.To download the white paper, click on the link above right under Related Files.White paper supplied by Wealth at Work.
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Analysis
The difference between active and passive investments
IF YOU READ NOTHING ELSE, READ THIS…Passive and active management are simple concepts to understand. Don’t be afraid of the language.Most defined contribution (DC) default funds will be passive arrangements to offer low-cost access to investment markets.Active management can provide higher returns but is not typically used in defaults because ...
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AnalysisAlternative savings vehicles are appealing to staff
IF YOU READ NOTHING ELSE, READ THIS…Corporate Isas are a more attractive savings option than pensions for younger employees.Sharesave schemes offer a ‘no-lose’ option for employees to make sure of a savings windfall in a few years’ time.Alternative savings schemes can be co-ordinated by placing them on a corporate platform.Ask ...
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Analysis
How to prepare staff for the transition to retirement
IF YOU READ NOTHING ELSE, READ THIS….The number of workers over the state pension age is increasing.Early discussions about retirement will enable employees to be better prepared when the time comes.Age discrimination rules mean communicating with staff about retirement must be done with care.Ensuring staff get the right annuity product ...
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Article
Buyer's guide to healthcare trusts 2012
Healthcare trusts offer an alternative to private medical insurance (PMI) for providing healthcare cover to staff and their families. Trusts, which first appeared in the 1980s, enable employers to create a bespoke medical insurance benefits package based on the needs of their employees.For example, a degree of flexibility around cover ...
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Case Studies
High Court to look at maternity leave anomaly
In September 2011, a mother who was having a child through surrogacy asked her employer for details of her leave entitlements.The employer offered 52 weeks’ unpaid leave, but said it had no legal obligation to provide paid leave or time off.The mother then contacted her MP to express her dissatisfaction ...
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Article
Buyer's guide to critical illness insurance
Critical illness insurance (CII) was launched into the UK market in the 1990s, making it one of the newest group health products. Until recently, employers have generally considered CII the least necessary of its employee benefits, but times are changing.Swiss Re’s 2012 Group watch survey, published in April, shows that ...
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Analysis
Call for clarity on pension scheme charges
IF YOU READ NOTHING ELSE, READ THIS…The average annual management charge (AMC) on pensions is less than 1%, according to the Department for Work and Pensions.The Association of British Insurers is calling for greater transparency around pension scheme charges.The National Association of Pension Funds plans to publish an industry code ...
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Case Studies
Emergency childcare pays off with engagement for Northern Trust
About 150 employees have signed up to the service, which is provided by My Family Care and includes emergency childcare, school holiday cover, and elder and adult care.Childcare support is in the form of childminders, nannies and nursery places. The company funds six sessions of care for each employee annually.Cara ...
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Opinion
Julian Foster: Emergency childcare is a necessity
Or perhaps your child’s nursery has had to close because the drains need work, or your parents have decided to go on a last-minute cruise for a break from their grandparenting duties?There can be various reasons why childcare arrangements can break down. Parents do not want to let their employer ...