All Employee Benefits articles in Web Issue – Page 576
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Opinion
Ben Black: Action needed on eldercare support
The truth is that in the future, far more of us will combine work with an eldercare responsibility for one or both of our parents. The stats are truly frightening.But will employers really start putting relevant benefits in place any time soon? I am not sure.With notable exceptions such as ...
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Article
National Air Traffic Services car scheme targets low emissions
Ian Jopson, head of environment for the air traffic management organisation, says: “Economic conditions are difficult across all industries today, but our focus remains on finding innovative solutions to support our staff in driving down our carbon footprint.”The scheme, provided by Zenith, caps vehicle emissions at 120g/km, which increases the ...
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Analysis
Benefits help staff to fulfil new year's resolutions
IF YOU READ NOTHING ELSE, READ THIS…Promoting benefits such as discounted gym membership can help employees achieve their resolution goals.Online health assessments can help break down resolutions into manageable aims.Wide-ranging communication strategies will help optimise employee engagement.Most people have given up on their New Year’s resolutions by mid-January. But all ...
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VideoUKTV switches staff on to value of benefits
When a staff survey revealed widespread knowledge gaps about its employee benefits package, UKTV took the opportunity to communicate the real value of its perks.Its communication strategy included a two-day benefits and wellbeing event last October, which focused on raising awareness about UKTV’s core benefits, including its pension and private ...
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Article
Buyer's guide to total reward statements
Total reward statements (TRSs) are a simple and effective way to help staff understand the value of their employment package. But research conducted by the Chartered Institute of Personnel and Development (CIPD) shows a significant number of employers do not use them.The CIPD/Benefex Reward management survey 2012, published last May, ...
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Article
John Lewis: Has the death knell sounded for the company car?
You only have to look at the new car registration figures from the Society of Motor Manufacturers and Traders to see that the number of cars sold to organisations has increased over the past three years and looks set to carry on rising as the economy pulls out of recession.However, ...
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Article
Peter Cooke: Has the death knell sounded for the company car?
Remember the historic reasons for having a company car? ‘Cost-effective’, ‘released personal capital’, ‘status symbol’, ‘sign of corporate esteem’ and ‘a better car than you would buy yourself’.Later chancellors saw the company car as a cash cow and a relatively easy tax to collect, so the pressures built, and environmental ...
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AnalysisSalary sacrifice car schemes explained
IF YOU READ NOTHING ELSE, READ THIS…Salary sacrifice company car schemes may not be suitable for every employer.The most common barrier to introducing a scheme is lack of understanding about cost and implementation.Employers should engage a qualified tax adviser to ensure deductions from salary are dealt with properly.Salary sacrifice company ...
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Article
David Russell: Has the death knell sounded for company cars?
Of our employees in the UK who are entitled to this choice of benefit, 50% have opted for a company car, and the other half have opted for a cash allowance.Although legislation has made company cars less tax-efficient for employees, many senior executives still prefer to have the traditional advantages ...
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Opinion
Julian Foster: Working parents need more childcare help
There were also a few changes that may benefit businesses, including a cut in corporation tax.But it was disappointing to see no extra support for working families facing crippling childcare costs.The childcare voucher limit of £55 per week has remained unchanged since 2006 and would need to rise to £73 ...
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Analysis
DC pension schemes can learn governance lessons from DB
IF YOU READ NOTHNG ELSE, READ THIS…A committee should be at the heart of a robust pensions governance structure.Governance committees should consider appropriate investment fund options and default strategies.Scheme members should be given clear and relevant communications.The defined contribution (DC) pension plan has become the scheme of choice for many ...
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Analysis
DC pension default investments explained
IF YOU READ NOTHING ELSE, READ THIS…There is no single definition of a default fund.Investment strategy is as, if not more, important than asset allocation.Nest is expected to become a benchmark pension scheme, particularly on charges.A default investment option is the fund or funds into which employers automatically put employees ...
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Article
Millions of workers do not receive benefits
Nearly 30% of the UK workforce does not receive any employee benefits, according to research by Canada Life Group.It found that nine million workers are not given any benefits by their employers. Women (32%) are more likely not to receive any benefits, compared to 27% of men.The research also found ...
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Opinion
Katharine Moxham: New opportunities for the group risk market
Auto-enrolment, the response to the Department for Work and Pensions’ (DWP) Health at work - An independent review of sickness absence, published in November 2011, the Treasury’s Sergeant Review of Simple Financial Products, published in July 2012, and the introduction of universal credit will give the group risk market unprecedented ...
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Article
DOD’s blog: my week in benefits
The Employee Benefits team was back in the office in force this week, although to be honest we have been more fuzzy than fizzing at this early stage of the year.The same can be said for the news stories that have popped up in our inboxes so far.However, one from ...
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Article
Chinese military curbs indulgence
Something for the weekend…At a time when money is tight, some employers will be looking at their employee benefits as a possible area where they could save money. It would seem the Chinese military is no different.The Central Military Commission (CMC) in China has published a list of regulations for ...
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Article
Labour plans pension cap to fund jobs
Labour has proposed to cap pensions tax relief at 20% for those earning over £150,000 a year in order to fund a job guarantee programme for the unemployed.Ed Balls, Labour shadow chancellor, outlined the party’s plans in an article for PoliticsHome. These are aimed at guaranteeing a minimum wage job ...
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Article
Cigna extends medical plan range
Cigna UK Healthcare Benefits has launched an extended medical plan range called HealthCare Choices.Its range now includes a condition-specific plan, Essential Health, which is designed for employers looking to deal with absence or productivity concerns, and the Your Health plan that allows employers to balance reward strategy with budget control ...
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Case Studies
Admiral Group uses auto-enrolment to promote pensions
Benefits administrator Lindsey Christie says: “The strategy was simple. We needed to tailor it to our young workforce, whose average age is well below 30, and we enticed them with a simple presentation that was easy for them to identify with, because pensions can be a complex topic.”The insurer ran ...
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Case Studies
Pimlico Plumbers uses face-to-face auto-enrolment strategy
Dominic Ceraldi, head of HR, says: “The strategy was simple, but thorough and effective. I and the other three members of the HR team met regularly with the company’s pension provider to make sure we were fully aware of the details of the reform and how it will affect the ...