All Employee Benefits articles in Web Issue – Page 657
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Article
FTSE 100 chiefs' pension pot hits £4.7m
The average pension pot for a FTSE 100 director increased by £400,000 last year to £4.73 million, according to research by the Trades Union Congress (TUC).The PensionsWatch 2013 survey, which examined the pension arrangements of 294 directors across FTSE 100 organisations, also revealed that:The average accrued pension is now £259,947 ...
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ArticleRetirement unlikely for 12% of global workers
Nearly one in eight (12%) of respondents think they will never be able to afford to retire fully, according to research by HSBC.The future of retirement report, which surveyed 16,000 people in 15 countries, found that this figure is higher in some countries.In the UK, 19% of respondents expected they ...
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Article
12.2m facing inadequate retirement income
An estimated 12.2 million people are facing inadequate retirement incomes, according to a report by the Department for Work and Pensions (DWP).Its Framework for the analysis of future pension incomes, which was published on 11 September, found that, with government reforms, such as auto-enrolment, a new state pension and increases ...
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Article
81% say childcare costs prevent them returning to work
Almost three-quarters (73%) of respondents want to return to work after taking maternity or paternity leave, according to research by Findababysitter.com.The online childcare search site’s research also found that 81% of respondents said childcare costs are stopping them from returning to work.In tandem with its research, Findababysitter.com has launched a ...
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Article
L&G adds stress toolkit to income protection product
Legal and General has enhanced its group income protection product to help reduce the impact of staff absence.It has added a new interactive stress toolkit for line managers, called Prehab Services.The product, which has been developed with charity Rethink Mental Illness, includes:A stress management challenge, which allows line managers to ...
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Article
RSA adds green cars to flex scheme
RSA Insurance Group has introduced a green car benefit and anytime election windows to its flexible benefits scheme.Addressing delegates at EB Live on 25 September at London’s Olympia, Ed Airey, UK reward manager at RSA, explained that employees’ involvement in the benefits scheme was key to the organisation. Therefore, its ...
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Article
The Positive Ageing Company launches eldercare scheme
EXCLUSIVE: The Positive Ageing Company has launched an online programme that aims to help employers support employees with eldercare responsibilities.Its programme, AgeingWorks, is a one-stop shop of information and services that employees can use to better prepare for and manage the challenges and opportunities that ageing can present.The information and ...
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Article
Employees look to employer for asset allocation decisions
Around 2.6 million people who have not yet retired are most likely to look towards their employers for help with asset allocation decisions around their retirement planning, according to research by Baring Asset Management.The research, which was conducted online among 1,581 non-retired UK adults, found that 14% of respondents said ...
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Article
Australia, UK and US have largest DC pension markets
The defined contribution (DC) pension markets in Australia, the UK and the US are the largest globally, according to research by Schroders.Its Lessons learnt in DC from around the world report investigated the universal commonalities and local distinctions in DC systems, and highlights the key concepts that determine success and ...
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Article
Pall Europe took strong focus on auto-enrolment communications
Communication is key prior to an employer’s auto-enrolment staging date, according to Vicki Tracey, senior benefits specialist at Pall Europe.Speaking at Employee Benefits Live on 25 September at London’s Olympia, Tracey explained that the manufacturing company, which staged on 1 September 2013, found that with a largely segmented workforce comprising ...
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Article
Auto-enrolment biggest benefits challenge
EXCLUSIVE: More than a third (39%) of respondents said preparing for auto-enrolment is their biggest objective over the next 12 months, up from 25% last year, according to research by Aon Hewitt.Its Employee benefits and trends survey 2013, which questioned nearly 350 UK HR and benefits professionals, found that other ...
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Article
L&G to cap auto-enrolment pension charges
Legal and General is to cap the charges for auto-enrolment pension schemes at 0.5%.The charge is to cover both the annual management charge (AMC) for administration of a defined contribution (DC) pension and the charge for Legal and General’s default fund, Multi-Asset Lifestyle Portfolio.Employers, and their employees, that select Legal ...
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Article
British Gas and Citi awarded for working parents' support
British Gas, Citi and Plantronics are among the employers that have been awarded for their benefits and policies that support working parents.The Top Employers for Working Families Benchmark Awards, founded by charity Working Families in partnership with the Institute for Employment Studies and sponsored by Computershare Voucher Services, recognise employers ...
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Article
Consultancy charges ban takes effect
Legislation to ban consultancy charging on auto-enrolment pension schemes came into effect on 14 September.Steve Webb (pictured), minister for pensions, signed the new regulations, which aim to give greater protection to pension scheme members.The legislation, which impacts defined contribution (DC) pension schemes used for auto-enrolment purposes, means an employer cannot ...
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Article
Barbon takes steps to boost pension saving
Barbon Insurance Group is encouraging young staff to start saving into its group personal pension scheme by lowering its minimum employee contribution to 1%.Speaking during a session at Employee Benefits Live on 25 September, Sarah Minter, reward manager at Barbon Insurance Group, provided tips to small and medium-sized employers (SME) ...
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Article
Barclays launches workplace savings product
EXCLUSIVE: Barclays Corporate and Employer Solutions (C&ES) is to launch a workplace savings and financial education product that focuses on the needs of the different generations of employees.Barclays Beyond Benefits brings together consultancy services, traditional employee benefits, share plans, pensions, financial education and banking services in a single online portal.It ...
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Article
JLT Employee Benefits launches pensions white paper
JLT Employee Benefits has launched a white paper, which provides an analysis of the evolution of the pensions landscape in the UK since the Pensions Commission report in 2004.The paper, Achieving the 21st century pensions settlement, was launched at a panel discussion at the Liberal Democrats’ party conference on 16 ...
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Article
Benefits do not suit multi-generations
The majority (85%) of respondents do not feel their current benefits package offers the flexibility required to suit their needs, according to research by Barclays Corporate and Employer Solutions (C&ES).The Talking about my generation: exploring the benefits engagement challenge report, which surveyed 1,200 UK employees, was commissioned by Barclays C&ES ...
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DOD’s blog: Get me a tardis (and a cocktail)
On Wednesday night I had a very interesting chat to a pensions lawyer over a few cocktails at the annual Allen & Overy press party.I do not think it was the generously ginned-up drinks that made current pensions litigation trends appear interesting. In fact, the conversation quite sobered me up.It ...
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Article
Bright Horizons partners Parental Choice
Childcare services provider, Bright Horizons, has partnered Parental Choice to expand its Family Essentials programme.Parental Choice, which was launched in 2009, advises parents and employers on how to work together to combine a career with childcare. The partnership will expand Bright Horizon’s online portal through which employees can access family ...