All Employee Benefits articles in Web Issue – Page 562
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Jane Vivier: Top issues facing reward managers
The needs of the employee audience has changed in the past five years, said Jane Vivier, reward consultant. “It’s about making the benefits we do offer relevant to employees today.”Interviewed at Employee Benefits Live 2012 in September, Vivier also recommended that people taking up a career in benefits find themselves ...
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Article
Projected worth of pensions to fall sharply
Employees who are members of personal pension plans will see the projected worth of their pension pots fall sharply from 2014.The Financial Services Authority (FSA) is to reduce the projected annual growth rates from April 2014, which will affect plans such as self-invested personal pensions (Sipps) and stakeholder pension schemes. ...
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Lloyds launches online support to working parents
Lloyds Banking Group has launched an e-learning programme for employees that take maternity, paternity and adoption leave.The programme includes modules on preparing for maternity or adoption, maternity and adoption leave, and a post-maternity module for employees returning to work. There is also a module for male employees taking paternity leave.The ...
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MP requests review of share plan limits
Labour MP Jim Fitzpatrick has called on treasury secretary David Gauke to review the savings limits for HM Revenue and Customs (HMRC)-approved share plans.In a letter, Fitzpatrick asked Gauke to review the issue in light of a tabled early day motion (EDM), as well as views by the Office for ...
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ArticleLow-paid workers have poorer pensions provision
Low-paid workers are less likely to belong to a workplace pension scheme, and those that do have lower employer contribution rates, according to research by the Trades Union Congress (TUC).The TUC Pensions scorecard report, which examined the membership, contribution rates and governance of workplace pensions across the UK, found that ...
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A third of respondents are not saving
More than one-third (35%) of respondents do not contribute to any kind of savings vehicle, according to research by Now: Pensions.The research, which was carried out through an online survey of 2,033 UK adults, found that one in four (27%) respondents said they will face a shortfall in their pensions ...
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Prudential partners Nest and Now: Pensions
Prudential UK has partnered with the National employment savings trust (Nest) and Now: Pensions to offer pension auto-enrolment options to employers.The financial services provider is working with Nest and Now Pensions to provide organisations with diverse workforces the option of a dual-scheme approach to complying with auto-enrolment.David Caw, head of ...
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Patterson Associates appoints vice president
Remuneration consultancy Patterson Associates has appointed Sue Bartlett vice president.Bartlett has more than 20 years’ experience advising organisations on executive pay, remuneration strategy, short- and long-term incentives, pensions and corporate governance.Prior to joining the organisation, Bartlett held the role of director in consulting services at Towers Watson, specialising in executive ...
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Domestic and General offers staff flu jabs
Domestic and General has offered staff at its Nottingham contact centre nurse-administered flu vaccinations in an effort to tackle sickness absence.The organisation provided 150 jabs on a first-come, first-served basis for the second year running. The offer was communicated to employees using emails, line managers and posters in employee break ...
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GE Healthcare wins award for staff healthcare
GE Healthcare has been awarded the UK’s Royal Society of Public Health’s Health promotion and community wellbeing award 2012 for its employee health and wellness programme.GE has offered the programme, HealthAhead, to its 300,000 employees worldwide since 2010. It is available to GE Healthcare’s 46,000 employees.The programme covers issues such ...
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Chinese air force helps recruits find love
Something for the weekend …Success at work could mean a pat on the back from the boss or even a bonus at the end of the year, but in the Chinese air force it could mean finding the love of your life.The People’s Army rewarded 150 air force recruits, who ...
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High Court rules benefit take up seals employment contract
Employees who take up a benefit, offered specifically to a person in their position in the company, will be held to the terms of their employment contract, even if they have not signed the contract.The High Court ruled that if an employee uses a benefit, which is offered under their ...
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JLT to take over Aegon’s DB pension portfolio
JLT Benefit Solutions will take over the ongoing provision of services to Aegon’s portfolio of defined benefit (DB) pension schemes.The portfolios have an asset value of £710 million and contain 25,000 members.The partnership will see 100 Aegon staff transfer to JLT in early 2013.Duncan Howorth, chief executive at JLT Benefit ...
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BT's pension deficit increases to £3.1bn
BT Group’s final salary pension scheme deficit has increased from £1.9 billion to £3.1 billion since March 2012.The telecommunications firm published the figure in its financial results for the second quarter and half year to 30 September 2012.The higher deficit reflects the impact on liabilities of a reduction in the ...
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DB pension deficits hamper investment
High levels of defined benefit (DB) pension scheme deficits are hampering organisations in investing in their businesses, according to research by the Institute of Chartered Accountants in England and Wales (ICAEW) and Mercer.The Living with defined benefit pension risk report, which surveyed finance directors and other senior leaders on DB ...
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RSA offers eye health screening to staff
RSA Group is offering an eye health screening clinic to employees at its Bristol office and local Quality Repair centre.The screening, which is provided by Specsavers, is part of the insurance group’s Fit to Drive campaign, which highlights the dangers of driving with poor eyesight and encourages drivers to look ...
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Tax rule changes can cause reporting errors
Changing rules around the tax treatment of benefits, and a failure to implement effective policies, processes and systems, are the most common causes of errors on employers’ end-of-year benefits tax returns.These could result in penalties for organisations.Richard Webb, tax director at Grant Thornton, said employers must be aware of these ...
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Article
Offshore payroll firms may create NI liabilities
UK employers that use temporary workers who are employed by offshore payroll organisations must be aware they could be liable for employer national insurance contributions (NICs).Offshore payroll companies do not need to pay NICs for their employees because the company is not resident in the UK. However, organisations that use ...
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Article
Stress is top health risk to employers
Stress among employees is considered the top health risk to organisations, according to research by group risk industry trade body, Group Risk Development (Grid).Its Group risk employer research study, which surveyed 500 employers in October, found that 21% of respondents named stress and mental health issues as the number one ...