All Employee Benefits articles in Web Issue – Page 687
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AnalysisCurrent state of play for workplace pension charges
If you read nothing else, read this…The Department for Work and Pensions’ consultation on pension charges includes the introduction of a 0.75% cap on charges, a ban on active-member discounts and an extension of the ban on consultancy charging to include all DC pensions, rather than just auto-enrolment schemes.Charges should ...
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AnalysisHow much do staff need to contribute for a comfortable retirement?
If you read nothing else, read this…The minimum 8% contribution required under auto-enrolment legislation will provide employees with a decent income in retirement if they start saving at age 22.Employees should aim to contribute a percentage of salary equivalent to half their age when they begin contributing, or aim for ...
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Analysis
Contract-based pension scheme comparison table
The plans, set up by employers, include group personal pensions (GPPs), stakeholder schemes and self-invested personal pensions (Sipps), and vary in terms of, for example, contribution levels and investment limits.Read on to find out how each scheme rates. Group personal pension (GPP)StakeholderSelf-invested personal pension (Sipp)Definition:This is an arrangement made ...
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Analysis
Winter driving tips to keep employees safe
If you read nothing else, read this…Employers have a duty of care to ensure employees are safe when driving for business.Training, such as seminars or online risk assessments, can help staff understand the risks of winter driving in darkness or bad weather.Employers should remind staff about the legalities of drinking ...
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AnalysisFacts and figures on pension schemes
What employers are doing around pensionsTesco pension deficit rose to £2.4 billion.Barbon Insurance took steps to boost pension saving.BMW consulted on DB pension closure.Siemens UK boosted pensions take-up to 98%.Read the digital edition of the Pensions supplement 2013
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Case StudiesNCFE focuses on flexibility in benefits package
The transfer will have a direct impact on the benefits taken up by staff at the organisation, which was formerly known as the Northern Council for Further Education.Michelle Sharman, HR manager at NCFE, says: “We are a growing organisation, which brings its own challenges. We are moving from a city ...
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Article
Strikes point to employer caution over pay rises
Staff from Royal Mail Group called off strike action after the newly privatised organisation agreed to improve its pay and reward offer.Post Office employees, who had not received a pay rise since April 2011, called off a planned strike over pay after receiving a letter from the organisation’s chief executive ...
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Article
Debi O'Donovan: What happened in 2013 to influence 2014?
But it has been interesting to note how workplace wellbeing has been growing steadily over the years and is predicted to become more of a focus in the years ahead.The reasons are well known to us and include the ageing workforce and increases in obesity, diabetes and cancer among workers.We ...
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AnalysisReview of the 2013 benefits landscape
If you read nothing else, read this…A number of employers have been focusing on consolidating their benefits packages in 2013.Pensions administration is expected to dominate large employers’ agendas in 2014.Many organisations continue to lack a cohesive communications strategy to explain the value of their benefits provision to staff.Consolidation of their ...
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OpinionPeter Reilly: Universal benefits trend set to continue in 2014
It is also important, when focusing on the future, to consider the extent to which we will see a surge in benefits take-up as employers become more profitable and the labour market tightens. The Chartered Institute of Personnel and Development’s Annual survey report 2013, Reward management, published in May 2013, ...
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Article
18% have not had a pay rise in three years
Almost one-fifth (18%) of respondents have not had a pay rise for three years or more, according to research by MetLife UK.Its research, which surveyed 2,870 working adults, found that respondents over the age of 45 are the most likely to suffer pay freezes.While the research found that 18% of ...
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Article
Local government pension scheme is in crisis
The Local Government Pension Scheme (LGPS) is in crisis, according to a report by the Centre for Policy Studies.Local government pension scheme: opportunity knocks, authored by pensions analyst Michael Johnson (pictured), found that these pension schemes are so under-funded, they are consuming their assets to meet pensions in payment.Using evidence ...
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Article
Care workers paid below minimum wage
More than 2,400 employees in the care sector have been paid below the national minimum wage over the past two years, according to an investigation by HM Revenue and Customs (HMRC).HMRC looked at jobs across the sector and investigated 224 employers, with some investigations still ongoing.Eighty-eight cases have been found ...
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Article
Abercrombie staff entitled to guaranteed payments
The Court of Appeal has found in favour of hourly-paid employees at US clothing retailer Abercrombie to claim guarantee payments for workless days.In the case, Abercrombie and Ors v AGA Rangemaster Ltd, staff agreed to work a four-day week under a temporary agreement that had been made through their trade ...
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Article
Employee Benefits Awards offer coverage for employee brand
Guy Hayward, chief executive officer of Goodman Masson, explains what it means to win an Employee Benefits award.The recruitment organisation won ‘Best reward strategy aligned to business strategy’ at the Employee Benefits Awards 2013. It had integrated its inclusive reward strategy into its business culture to create a package to ...
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Article
Employee Benefits magazine – December 2013
Read Employee Benefits digital Some of the key articles include:Review of the 2013 benefits landscape in Highlights (page 22).Ranked 15 in the Sunday Times 100 Best companies to work for, NCFE shows how being a great employer is much more than just paying a good salary. Find out how they ...
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Article
Christmas bonuses not popular
The supermarket chain’s 180,000 staff shared a £17 million festive bonus, which included a £20 Asda gift card, £5 each towards a Christmas party, and a free meal.But according to Edenred’s Saying thank you at Christmas 2013 survey, two-thirds (65%) of employee respondents do not expect to receive a Christmas ...
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Article
Use of asset-backed contributions on the rise in small pensions
The use of asset-backed contributions (ABCs) to fund smaller pension scheme deficits is on the rise, according to research by business advisory firm Deloitte.Its research, Pension funding solutions: the evolving ABC market, found that 80% of ABCs in 2013 were used to fund deficits of less than £100 million, up ...
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Article
Jelf Employee Benefits to launch international division
Jelf Employee Benefits is to extend its international proposition with the launch of Jelf International.The aims of the standalone international division is to emphasise the extent of the full consultancy and holistic service now available, respond to existing employer demand for a broadening of products and underline the importance of ...
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Article
Zero-hours workers are happy with work-life balance
Employees on zero-hour contracts are more likely to be happy with their work-life balance than other workers, according to research by the Chartered Institute of Personnel and Development (CIPD).Its research, Zero-hour contracts: myth and reality, which surveyed more than 1,000 employees, was published in collaboration with law firm Lewis Silkin ...