All Employee Benefits articles in Web Issue – Page 623
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Article
Tesco staff awarded £56m in shares
Tesco employees will be awarded shares worth a total of £56 million, half of the £110 million total awarded in 2012.More than 280,000 employees are eligible for the award, providing they were employed on, or before, 25 February 2013.The award is equivalent to 1.5% of each employee’s earnings, capped at ...
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Article
Buyer's guide to childcare vouchers 2013
As well as enabling working parents to afford childcare, this perk can also offer significant tax and national insurance (NI) savings for employees and employers.Childcare vouchers have been around since the late 1980s, but the current tax exemption was introduced only in April 2005.The amount an employee can receive in ...
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Opinion
Mark Baker: Employers must respect staff attitudes to pension fund risk
Among most employers, it is conventional to use lifestyle or target date funds. For younger workers, the money is held in equities, then over time it is switched into bonds and cash. Often the member can nominate a planned retirement date and the lifestyling switches are geared towards that date; ...
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Article
Auto-enrolment opt-out rates lower than expected
Before the auto-enrolment roll-out began last October, it was predicted employers could expect opt-out rates of 20% to 30%.But McDonald’s Restaurants, for example, has seen only 2.4% of its hourly-paid employees and 2.7% of its salaried staff that were auto-enrolled on 1 January 2013 opt out.The fast-food retailer has 37,000 ...
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AnalysisWhy share schemes remain a valuable employee benefit
IF YOU READ NOTHING ELSE, READ THIS…Hundreds of thousands of employees continue to save through share plans despite the economic downturn.YouTube videos are a new way for employers to engage employees with their share plans.Employers need to help employees to think like shareholders.The possible windfall awaiting savers on maturity of ...
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Article
Peter Reilly: Does paternalism still have a place in benefits?
In the left corner were those who felt defined benefit schemes should be retained because they ensured employees could look forward to a secure financial future. In the right corner were those that favoured defined contribution schemes because of their greater transparency, individual choice and flexibility.This was, in part, a ...
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Article
Buyer's guide to pension modelling tools
Getting staff to recognise this gap is a challenge, but employers can now call on interactive pension modelling tools to help get the message across.Tools vary greatly. Some are fairly simple, designed to provide a snapshot of one particular pensions issue, such as the Money Advice Service’s (MAS) automatic-enrolment toolkit, ...
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Opinion
Suzanne Tyrrell: Times are changing for childcare support
From autumn 2015, parents will be able to claim vouchers for every child under the age of five. The government will provide 20% of childcare costs, up to £1,200 for each child. This effectively means parents will not pay basic-rate tax on the first £6,000 they spend on registered childcare.Parents ...
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Article
HMRC confirms VAT payable on pensions consultancy charges
HMRC also said organisations that supply advice and assistance to employers around the implementation and ongoing administration of contract-based DC schemes must establish two matters to determine the VAT treatment: what is the nature of the service supplied and who is the recipient of that service?Employers will normally be able ...
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AnalysisThe pros and cons of using lifestyle investment strategies for pension funds
IF YOU READ NOTHING ELSE, READ THIS…Lifestyle strategies progressively switch pension scheme members into bonds as they approach retirement.Although lifestyle options have done well over the past decade, this has been a consequence of rising bond markets.Providers have been devising diversified funds that are actively and tactically managed so members ...
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AnalysisHymans Robertson offers staff flexibility in saving
Because employee benefits are at the heart of its business, Hymans Robertson recognises the importance of giving its staff access to workplace savings schemes that will engage them and suit different lifestyle needs.The pensions and benefits consultancy invites all employees to join a group personal pension (GPP) plan and a ...
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Case Studies
Henderson Global Investors sees high take-up in share schemes
Henderson operates a variation of plans across 20 countries, including: a UK and a US sharesave; a UK and an international Sip; an employee stock ownership plan; and a restricted share plan, which was launched in 2004 for senior employees and has performance conditions attached to it.Henderson offers employees in ...
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Opinion
Paula Hargaden: How to select a share scheme
Of the four approved schemes, two, the share incentive plan (Sip) and save-as-you-earn (SAYE) or sharesave, require awards to be made available to all eligible employees, while the company share option plan (Csop) and enterprise management incentive (EMI) permit awards only to selected employees.Sip and sharesave engage, and so are ...
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Article
Healthcare research 2013
Employee Benefits’ Healthcare Research 2013 reports on employers’ current healthcare issues and attitudes to, for example, what they believe their healthcare benefits are achieving for their workforce.The research also covers: The actions employers are likely to take around healthcare provision in the next 12 months; How the economic climate has ...
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ArticleMost common sickness absence strategies
EXCLUSIVE: More than three-quarters (81%) of respondents cited return-to-work interviews as the most common format for their sickness absence strategy, according to research by Employee Benefits.The Employee Benefits Healthcare research 2013, which surveyed 376 HR and benefits professionals, found this is followed closely by early intervention by line managers (74%), ...
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ArticleMost common causes of absence
EXCLUSIVE: Minor ailments, flu and colds have consistently been the most common cause of sickness absence, according to research by Employee Benefits.The Employee Benefits Healthcare research 2013, which surveyed 376 HR and benefits professionals, found that 85% of respondents cited these as the most common causes, up from 78% in ...
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ArticleMost common health benefits offered to expats
Private medical insurance (PMI) (33%) is the most common healthcare benefit offered to expatriate staff, according to research by Employee Benefits.The Employee Benefits Healthcare research 2013, which surveyed 376 HR and benefits professionals, found that other commonly offered healthcare benefits for international employees include life assurance/death in service (28%), PMI ...
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Article
Tim Wells launches benefits consultancy
“We’re helping employers that are expanding internationally to set up their HR departments in emerging markets,” he said. “And for those employers that already have a presence overseas, we are helping them to make their global mobility processes compliant with the relevant legislatation.”With 13 years in the industry, his previous ...
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Article
G4S appoints Joanne Smith
Her previous roles include HR director at Stansted Airport and HR director at Heathrow Express.She has also held senior HR roles for organisations such as Inchcape, National Grid and PaperlinX.
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Article
Marguerite Ulrich is HR director at Veolia
She was previously vice-president of HR for Veolia Environmental Services in the US.Her 25 years in the industry include seven years as regional director of HR at Equity Office Properties Trust and two years as assistant vice-president of HR at Celtic Insurance Company.