All Employee Benefits articles in Web Issue – Page 596
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Article
BBC's sickness absence not due to stress
The BBC has disclosed that only 0.18% of working days were recorded as lost due to stress, anxiety and/or depression between April 2011 and March 2012.Following a Freedom of Information request by LondonlovesBusiness.com, the Daily Mail reported that the broadcaster spent £130,000 on stress counselling for staff in 2012.A spokesperson ...
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Article
Pilkington Glass to close DB scheme to future accrual
Pilkington Glass is to close its defined benefit (DB) pension scheme to future accrual and move its 1,489 members into the organisation’s group personal pension (GPP) plan.The manufacturer has paid £120 million in additional contributions into the Pilkington Superannuation Scheme (PSS) over the past four years. However, the cost of ...
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Article
New trade union share owners group to address pay and pensions
Trade union groups the Trade Unions Congress (TUC), Unison and Unite have teamed up to launch a group that aims to put union values at the heart of corporate governance on issues such as excessive directors’ pay.Trade Union Share Owners will work with shareholder advisory group Pensions and Investment Research ...
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Article
Employers reluctant to adopt social media
A resistance to change and a lack of social media savviness among senior leaders is holding organisations back from fostering cultures of transparency, collaboration and innovation, according to research by the Chartered Institute of Personnel and Development (CIPD).The Current landscape of social media and employee voice report, conducted by Silverman ...
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Article
Henderson launches retirement advice
EXCLUSIVE: Henderson Global Investors has introduced employer-funded one-to-one financial advice sessions, targeted at employees who are around 15 years away from retirement.Jeremy Mindell, former senior reward and tax manager at Henderson Global Investors, said: “There’s an element of saying: ‘What are you going to do with your money? Is this ...
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Article
House of Lords reports on ageing society
More than 10 million people in the UK can currently expect inadequate retirement incomes, according to a report by the House of Lords’ Select Committee on Public Service and Demographic Change.According to the report, Ready for ageing?, the UK will see a 50% rise in the number of people over ...
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Article
AllianceBernstein rolls out new ethical target date funds
AllianceBernstein has rolled out a new range of ethical target date funds to the UK defined contribution (DC) market.The range will be managed using underlying FTSE4Good indices and UK gilts.The Pensions Trust is the first adopter of the funds. It will offer the range to all its DC employer schemes ...
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Article
L&G changes default fund for auto-enrolment
EXCLUSIVE: Legal and General has used auto-enrolment compliance as an opportunity to review and change its stakeholder pension scheme’s default investment fund and reduce its annual management charge (AMC).The scheme’s default fund is currently the L&G UK Equity Index Fund, but this will be changed to the L&G Multi Asset ...
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Article
Friends Life launches auto-enrolment product
Friends Life has launched an auto-enrolment product that includes an online hub, a suite of employee communications and a range of default investment options.The hub will:Enable employers to enroll jobholders into a new or existing Friends Life pension scheme, or a combination of both.Decide which employees are eligible for scheme ...
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Article
DOD’s blog: the banking bonus bandage
It strikes me that the European Commission’s and European Parliament’s preliminary agreement on limiting bonus payments in the financial services sector might be one big sticking plaster trying to cover a boil that needs serious lancing.Anyone following the UK outcry at the proposed limits will think there are three primary ...
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Article
Employer tax relief introduced on health benefits
Budget 2013: The government is to introduce tax relief on up to £500-worth of health-related interventions funded by employers in a move designed to tackle long-term sickness absence and help staff return to work.As announced in January 2013, it is creating the health and work assessment and advisory service, targeted ...
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Article
Education sector values death-in-service benefits
Two-thirds (66%) of respondents said death in service was the most highly valued benefit in the education sector, according to research by JLT Employee Benefits.Its 2012/13 Survey of employee benefit trends in the tertiary education sector, which polled employers from 73 universities and colleges, found that 25% of respondents said ...
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Article
DOD’s blog: pension investments might get stuck
Many years ago a good friend, who at the time worked as a financial adviser, gave me a piece of advice: “Always pay fees for advice, never opt for commission – fees are ultimately a fraction of the cost of commission.”Needless to say, he is no longer a financial adviser. ...
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Article
DOD’s blog: can pensions people speak HR?
For the past few days I have been staying in the friendly climes of Edinburgh immersing myself in all things pensions investment, not least at the NAPF Investment Conference.While here, I have met up with all the leading pension providers based here (and Edinburgh does have more than its fair ...
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Video
Jon Bryant: How HR can use MI to engage staff in pensions
Jon Bryant, employee benefits consulting director at JLT, talks to Debi O’Donovan, editor of Employee Benefits, about using member data (also known as management information) to engage staff in their pension plan.Firstly, employers need to get the data into a single database, then they need to hit the right people ...
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Article
Work Foundation calls on government to help staff with cancer
The government should do more to support people with long-term conditions, such as cancer, in returning to work, according to the Work Foundation. Its Returning to work: Cancer survivors and the health and work assessment and advisory service report paper has been written in partnership with Macmillan Cancer Support.The organisations ...
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Article
Ultra low emission employer car tax
Budget 2013: The Chancellor George Osborne has announced a new, ultra low emission company car tax.The company car tax (CCT): ultra low emission vehicles (ULEVs) will come into effect on April 2015.There will be two new CCT bands which will will be introduced by the government at 0-50 grams/kilometre of ...
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Article
Employers review car provision
EXCLUSIVE: Three quarters (75%) of fleets reviewed their car provision during the last 12 months, as many organisations continue to focus on cost saving, according to research by Alphabet.The Alphabet fleet management report, which surveyed 250 UK fleet managers, also found that:The proportion of employers that benchmark fleet costs against ...
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Article
Employee owners to receive CGT relief
Budget 2013: The government has announced it will fund the introduction of a capital gains tax (CGT) relief on the sale of a controlling interest in an organisation into an employee ownership structure.The government will fund the CGT relief, which it aims to introduce in the Finance Bill 2014 in ...
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Article
Childcare voucher schemes set to change
Childcare voucher schemes are expected to change in Autumn 2015, under plans to be unveiled by prime minister David Cameron and deputy prime minister Nick Clegg today.The new system, which will replace the current salary sacrifice arrangements for childcare voucher scheme, will see employees pay 80% of their childcare costs ...