All Employee Benefits articles in Web Issue – Page 563
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Article
L-tips increase FTSE-100 directors’ reward
Basic pay and bonus growth for FTSE-100 directors has slowed over the past year, but the value of vested long-term incentive plans (L-tips) has pushed their average earnings increase to 27%, according to research by Incomes Data Services (IDS).Its Directors pay report 2012/13 found that salary rises for FTSE-100 directors ...
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Article
Booker Tate completes pensions buyout
Booker Tate has completed a pension insurance buyout for its defined benefit (DB) pension scheme.The transaction, carried out in conjunction with Pension Insurance Corporation (PIC), covers £20 million of pension liabilities.The organisation, which provides development, management and technical services to the sugar, ethanol and bio-energy market, was advised by Barnett ...
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Article
Consultation could increase local authority pensions' investment in infrastructure
Government proposals could lead to up to £45 billion in local authority pension fund investments being used to fund infrastructure projects, such as building homes and high-speed railways.Proposals outlined in the Local government pension scheme: investments in partnerships consultation could allow councils to double the amount they are able to ...
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Article
Gender pay gap persists among executives
The average female executive earns an average of £423,390 less throughout their career compared to a male worker with an identical career path, according to research by the Chartered Management Institute (CMI).The 2012 National management salary survey, which took data from 38,843 employees working in executive positions in UK organisations, ...
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Article
RTI pilot expands
The real-time information (RTI) pilot is to expand between 6 November 2012 and 31 March 2013 with the addition of 250,000 employers.The pilot was launched in April 2012 with 10 employers reporting pay-as-you-earn (PAYE) information in real time to HM Revenue and Customs (HMRC).Ruth Owen, director general, personal tax at ...
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Article
Consultation on lifting Nest restrictions
The government has published a call for evidence on the impact of two statutory restrictions on the National employment savings trust (Nest).It is seeking views and evidence on whether the annual contribution limit and transfer restrictions on Nest are influencing employers’ choice of auto-enrolment pension scheme in a way that ...
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Article
Awareness day highlights workplace stress
Work-related stress issues lead to less engagement, more day-to-day physical health problems and a higher likelihood of day-to-day psychological health problems, according to research by wellbeing specialists Robertson Cooper.The research, which coincides with National Stress Awareness Day on 7 November, found that, of the 47% of respondents who have encountered ...
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Opinion
Elizabeth Parkin: Maternity leave issues
Many employers struggle to fully understand their obligations to pregnant women. Misunderstanding legal duties may lead to employment tribunal claims which can be expensive to settle, not to mention the unwelcome possibility of negative publicity.Part of the problem for employers is the extensive legislation which includes rights to:paid time off ...
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Article
Commerzbank to appeal bonus ruling
Commerzbank is to challenge a High Court ruling that it should pay bankers a share of €400 million in bonuses.The legal claim was launched by 104 bankers from Dresdner Kleinwort Investment Bank (DKIB) after it was sold to Commerzbank in 2009.According to the bankers, senior managers at DKIB announced a ...
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Analysis
Ferdinand Lovett: Typical legal queries from HR
Ferdinand Lovett, solicitor at Sacker and Partners, and legal expert at Employee Benefits Live 2012, tells Debi O’Donovan, editor of Employee Benefits, the common questions he and his law firm are being asked by HR and benefits managers with regards to pensions auto-enrolment.Lovett flags up the common legal areas that ...
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Article
Extra benefits may be preferable to small pay rise
Nearly three-quarters (74%) of respondents would consider offering additional staff benefits instead of a small pay rise, according to research by Jelf Employee Benefits.The survey, carried out at the organisation’s annual health and wellbeing forum in October, found nearly three-quarters (74%) of respondents would consider giving employees extra benefits in ...
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Article
Top earners' pay has doubled over 25 years
The real earnings of the top 1% of earners in the UK has doubled over the last 25 years, increasing by around 117%, according to research by the Office for National Statistics (ONS).The research also found that the bottom 1% of UK earners experienced a real wage growth of 70% ...
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Article
Johnson Fleming expands auto-enrolment offering
Johnson Fleming has partnered with the national employment savings trust (Nest), Now: Pensions and The People’s Pension to offer a two-tier auto-enrolment option for employers.The agreement enables employers that require a two-tier option to use a single administration and communications platform, rather than running more than one platform.Simon Fletcher, client ...
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Article
PSA Peugeot Citröen launches benefits portal
PSA Peugeot Citröen (PSA) has launched an online benefits portal for its 3,500 UK employees.The platform, Pretium, which is Latin for reward, includes the strapline ‘Discover your benefits’. It provides a central hub for the information about the benefits on offer.The portal and its communications were developed with Shilling Communication.Stephanie ...
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Article
A Dutch treat for cyclists
After Bradley Wiggens’ cycling accident this week, cyclists may be more than usually aware of dangers on the road.Employees cycling to work could look with envy across the channel to their Dutch counterparts who may be in line to benefit from heated cycle lanes in winter.A recent report by the ...
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Article
Master Trust Association launched
A Master Trust Association (MTA) has been launched in an effort to provide best practice, awareness and standards of governance for the master trust community.The association has set out its aims, which include improving and maintaining standards, providing a unified voice for master trust providers, promoting the benefits of master ...
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Article
HSBC commits to UK-wide living wage
HSBC is to ensure its UK employees all earn the national living wage, which will increase the salaries of 227 employees who work in the bank’s branches and call centres.HSBC has paid the London living wage to employees based in London since 2005.Sue Jex, head of employee relations at HSBC, ...
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Article
Employers paying more for finance professionals
Employers are paying more to attract highly skilled finance professionals due to increased demand, according to research by Robert Half UK.The 2013 Robert Half salary guide found that, despite stagnation in the general job market, accounting and finance professionals are in high demand.More than three-quarters (78%) of the UK chief ...
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Article
Employee engagement website launches
The Employee Engagement Task Force has launched its Engage for Success website, which includes case studies, research, tools and tips on how to better engage employees.The website is a free-to-use national resource, which aims to help leaders and managers take practical action to engage their staff.David MacLeod and Nita Clarke, ...
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Article
HMRC proposes extra time for RTI reports
HM Revenue and Customs (HMRC) has proposed that employers be allowed an extension for sending in real-time information (RTI) reports.From April 2013, employers will be required to begin to send pay-as-you-earn (PAYE) information to HMRC on, or before, the date the payment is made.However, concerns have been raised that, in ...