All Employee Benefits articles in Web Issue – Page 658
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Article
BT to consider workplace savings platform
Bringing workplace savings benefits, such as pensions and share schemes, all together into one place on a workplace savings platform is the way forward, said Kevin O’Boyle, head of pensions at BT Group speaking at Employee Benefits Live on 25 September.“But it can’t substitute with live face-to-face action,” he added.The ...
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Article
Grant Thornton launches salary sacrifice cars
EXCLUSIVE: Grant Thornton has launched a salary sacrifice car scheme for its 4,200 employees.The scheme, which was rolled out in August and is provided by SG Fleet, caps carbon emissions at 130g/km to promote its green focus.The professional services firm had previously offered a car leasing arrangement to staff, as ...
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Article
DC pensions charges report due
The Office of Fair Trading (OFT) is expected to publish its report on workplace defined contribution (DC) pensions on 19 September.The report is expected to call for a number of revisions to workplace DC pension schemes, including a cap on scheme charges.The publication of the report comes as the Department ...
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Article
Shares for rights scheme comes into force
The government’s Employee Shareholder Scheme came into force yesterday.The scheme, also known as shares for rights, was passed in Parliament after the government made several concessions to its original proposals.The legislation will enable staff to swap some of their employment rights, including unfair dismissal and redundancy rights, for shares in ...
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Article
Time constraint major impediment to good DC governance
More than three-quarters (76%) of respondents said time constraints are a major impediment to good governance of defined contribution (DC) pension schemes, according to research by the Pensions Management Institute (PMI).Its research, which surveyed 175 PMI members in response to the Department for Work and Pensions’ (DWP) call for evidence ...
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Article
DB plans increasingly use delegated investment providers
More than one-third (36%) of respondents have appointed a delegated investment provider for their defined benefit (DB) pension scheme, up from 18% in 2011, according to research by Aon Hewitt.Its Delegated investment survey 2013, which surveyed 275 UK DB pension schemes representing around £130 billion of assets, found that this ...
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OFT publishes DC pensions market report
The Office of Fair Trading (OFT) has published its report on the defined contribution (DC) workplace pensions market.The report, which was launched in January 2013 to investigate whether the workplace DC pension market was working well for employees, concluded that there are problems with the market that may prevent some ...
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Article
Employers must justify default fund selection
Employers must be able to justify why they selected the default fund for their defined contribution (DC) pension scheme and have processes in place to review it.If they do not, they must question their scheme governance, said Stephen Bowles, a representative of the Defined Contribution Investment Forum (DCIF), during a ...
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Article
NAPF reports on pension default fund trends
Defined contribution (DC) default funds are reviewing and overhauling their design and governance to deliver good retirement outcomes for members, according to a report by the National Association of Pension Funds (NAPF).Its Default fund design and governance in DC pensions report focuses on eight employers, including Bank of America, Heineken ...
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Article
Withers launches financial education scheme
Exclusive: Withers has launched a monthly financial education scheme for its employees.The first With… your future in mind session was held on 5 September 2013, covering eligible employees’ Friends Life group personal pension (GPP) scheme.More than 100 of the law firm’s workers attended the session.The next presentation will cover the ...
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Article
L’Oréal to launch family support scheme
L’Oréal UK is to launch a family support package for all working parents in the UK on 11 September 2013.The scheme, provided by Parental Choice, is designed to help staff balance their family and working life. It includes:Advice on types of childcare.Tailored childcare searches from nurseries to nannies, maternity nurses ...
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Article
Government launches workplace health service
The government has launched a workplace health service, which aims to help small and medium-sized employers (SMEs) manage both physical and mental ill health in the workplace.The free online service, Health for Work Adviceline, was initially trialled in 2011.The launch follows the government’s response into sickness absence in January 2013.The ...
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Article
Westfield Health to rebrand
EXCLUSIVE: Westfield Health is to rebrand to focus on its almost 100-year history, its not-for-profit status and its employer-paid health cash plan proposition.It will reveal the new brand, which includes a new logo and strapline, ‘Harder Working Health Cover’ at Employee Benefits Live on 25 and 26 September at National ...
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ArticleNew pension savers will save less
The amount that the average employee is willing to contribute towards their retirement savings through a pension scheme has dropped by almost a quarter (24%) in the last year, according to research by Scottish Widows.The 2013 Scottish Widows Workplace pensions report, which surveyed more than 5,000 employees, found that, among ...
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Article
Flexible Benefits report 2013
Read digital version: Flexible Benefits 2013 report.It includes the following articles:Martha How: What’s next for UK flex?Clare Bettelley: Employers must be realistic about their flex needsFacts and figures on flexible benefits schemesThe impact of social trends on flexible benefits plansShould flexible communications be tailored to different generations?Severn Trent rejuvenates flexible ...
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Article
GreenSquare chooses Advantage as employee benefits platform
This article has been supplied by our channel sponsor, PeopleValue.Housing group GreenSquare, a major provider of housing, regeneration, care and support and commercial services across Wiltshire, Oxfordshire and Gloucestershire, has contracted PeopleValue’s leading voluntary benefit solution, Advantage, for its employees.GreenSquare’s core business is building, managing and maintaining homes, as well ...
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Article
PeopleValue announces supplier relationship with John Lewis
This article has been supplied by our channel sponsor, PeopleValue.PeopleValue, a leading provider of loyalty, incentive, reward and recognition and benefit technology, and John Lewis, the UK’s largest department store retailer, have agreed a supplier relationship that allows PeopleValue’s reward clients to redeem points against products provided by the retailer.John ...
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DB pension scheme deficits improve
The total deficit of UK private sector defined benefit (DB) pension schemes has fallen to £117 billion, according to research by JLT Employee Benefits (JLT EB).The organisation’s monthly index showing the funding position of all UK private sector DB pension schemes under the standard accounting measure (IAS19 / FRS17), found ...
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ArticleEmployers fail to survey pension communication preferences
Just three out of 10 respondents to the Employee Benefits/Capita Pensions Research 2013 ask their staff how they would like to be communicated with.The research, conducted among 370 HR and benefits managers, found that 66% do not ask their employees about their preferred method of communication.Respondents that ask staff about ...
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Article
TUC lodges agency workers pay complaint
The Trades Union Congress (TUC) has lodged a formal complaint with the European Commission (EC) against the UK government, alleging it has failed to implement the Temporary and Agency Workers Directive properly.Under the UK’s Agency Workers Regulations 2010 (AWR) legislation, agency employees are entitled to the same basic pay as ...