All Employee Benefits articles in Web Issue – Page 648
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Article
London Overground launches online voluntary benefits plan
London Overground Rail Operations (LOROL) has launched an online voluntary benefits programme.The LOROL Extras website, which was rolled out on 1 August, includes telephone and online discount codes to save money on purchases, such as clothes, music and do-it-yourself items, as well as insurance policies and hotel bookings.Employees can also ...
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VIDEO: Tim Wells: The traditional expat benefits package is dying out
The traditional employee benefits package for expatriates is dying out, according to Tim Wells (pictured), former group global mobility manager at Britvic Soft Drinks, in an interview with Debi O’Donovan, editor of Employee Benefits.He added: “Employers are moving more towards giving their employees a locally-based compensation approach.”Wells attributed the shift ...
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DOD’s blog: let’s stop pensions mis-selling now
The PPI misselling headlines that hit the headlines again this week has got me thinking about workplace pensions.Let’s rewind back to the days when we were being pushed to buy payment protection insurance (PPI) at every turn. Because I had read how bad a product it was, I can remember ...
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DOD’s blog: Childcare vouchers under scrutiny
In recent weeks there has been a flurry of press releases about childcare vouchers landing in my inbox.The reason is clear.We are just about two years away from the proposed workplace tax and national insurance savings on these highly popular perks being removed (for new schemes). Although that could still ...
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Article
Hill Dickinson launches salary sacrifice car scheme
Hill Dickinson has launched a salary sacrifice car scheme for around 1,000 eligible UK employees.The law firm’s scheme, which was launched in July and is provided by Zenith, has capped CO2 emissions at 140g/km, to encourage the selection of lower-emission cars and maximise employee savings.Eligible employees can also use Zenith’s ...
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Article
Tusker partners FMG to enhance car scheme
Tusker has partnered fleet optimisation organisation FMG to provide incident management services to employers that offer staff its salary sacrifice company car scheme.The contract will initially cover more than 6,000 cars from more than 110 private and public sector organisations.FMG will provide full incident and repair management services to support ...
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Article
Warrington Wolves launches health cash plan
Warrington Wolves has launched a health cash plan for its office-based staff at the rugby team’s Halliwell Jones stadium.The plan, which is provided by health cash plan provider Paycare, enables 34 administrative employees to reclaim 100% of the money they spend on healthcare services, such as dental, optical and specialist ...
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Government consults on tax-free childcare
The government has launched a consultation into its new tax-free childcare scheme.The consultation sets out new detail on eligibility for the scheme, for example, stating that parents who are not working because they are on parental leave or because they are carers will be able to claim. The consultation closes ...
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The Pensions Trust consults on DB pension closure
The Pensions Trust is consulting with employees about closing its career average defined benefit (DB) pension scheme to future accrual.The consultation began on 1 July and will run until the end of September.The scheme has been closed to new joiners for the past two years.If it is closed, the scheme’s ...
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DHL consults on DB pension closure
DHL is consulting on the closure of its defined benefit (DB) pension scheme to future accrual.The scheme, which covers around 3,500 employees, is scheduled to be closed at the end of 2013.Its Voyager defined contribution (DC) pension scheme, which covers 16,000 employees, will not be affected by the consultation. Employees ...
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Article
Lack of competition raises PMI prices
A lack of competiton in the private healthcare market at a local level has led to higher private medical insurance (PMI) premiums, according to the Competition Commission.Its Provisional findings on privately-funded healthcare services report, which sets out the independent public body’s initial findings, also found that private hospital operators have ...
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VIDEO: Deborah Hargreaves: Pay ratios are a useful exercise
Employers should consider the pay ratio between the top executive and the average employee, said Deborah Hargreaves, director at the High Pay Centre, in an interview with Debbie Lovewell, deputy editor of Employee Benefits.She added: “I really think that’s a useful figure for them to look at.“That is not to ...
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Article
PQM to explore setting standard for default funds
The Pension Quality Mark (PQM) is to explore setting tough new minimum standards for default investment funds.The PQM, which is a benchmark for good-quality defined contribution (DC) pension schemes, was introduced by the National Association of Pension Funds (NAPF) in 2009.It wants to add default funds to its list of ...
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Zenith launches greenhouse gas emission tool
Zenith has launched a reporting tool to help employers document greenhouse gas (GHG) emissions in their company car fleet and comply with new reporting regulations coming in from October 2013.The product shows GHG emissions across a whole fleet, by car, by manufacturer and split out by types of greenhouse gas.From ...
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HSBC to launch new global employee share plan
HSBC is to introduce a new international all-employee share plan in the third quarter of 2013.Its Interim report 2013, published on 5 August, stated that the new plan would replace its previous global plan, HSBC Holdings Savings-Related Share Option Plan: International.It will continue to offer its UK employees a sharesave ...
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Gerald Eve sees increase in pensions take-up
Gerald Eve has seen an 11% increase in its pension membership and almost a quarter (24%) of employees have increased their pension contributions since it introduced a workplace savings platform in May.The platform, which is provided by Hargreaves Lansdown, provides the national firm of chartered surveyors and property consultants’ employees ...
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Man United and FA receive Pension Quality Mark Plus
Manchester United and football’s governing body, The Football Association (FA), have become the latest employers to receive the Pension Quality Mark (PQM) Plus for their defined contribution (DC) pension schemes.Manchester United is the first football club to attain the standard for its £578 million trust-based pension scheme, which has around ...
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VIDEO: Susan Gee: It is shortsighted not to invest in staff wellbeing
It is shortsighted not to invest in employee health and wellbeing, said Susan Gee, employee health and wellbeing manager at Yorkshire Water, in an interview with Debbie Lovewell, deputy editor of Employee Benefits.She added: “When you employ someone, they have got skills that are going to help you achieve your ...
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Article
One in seven do not plan to retire
One in seven (14%) respondents do not plan to retire, according to research by Baring Asset Management. This is 12% up on the proportion of respondents that said the same in 2012 and the 10% in 2011, according to Barings’ annual research, which surveyed 1,581 non-retired UK adults. The research ...
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Top ten most read stories this week
Recommendations published on benefits tax rules Royal Mail reduces DB pension liabilities In-house support more prevalent in auto-enrolled organisations Birmingham Council staff save £187,000 via discounts plan Employers use pension provider to communicate How to green a flexible benefits scheme Barclays Cycle Hire staff strike over pay Goldman Sachs ...