All Employee Benefits articles in Web Issue – Page 689
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Article
Employee Benefits award win increases staff engagement
Amber Garner, benefits team leader at Home Retail Group, answers questions about what it means to win an Employee Benefits’ award.Home Retail Group won ‘Best employee share scheme’ at the Employee Benefits Awards 2013.What has winning an Employee Benefits’ award meant to you and to your team?We are passionate about ...
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Article650,000 UK staff off sick each week
Nearly 650,000 UK employees phone in sick every week, according to research by the British Heart Foundation (BHF).Its research, which analysed figures from the BHF’s Health at Work programme, found that the public administration and defence sector, which includes many public sector jobs, has the highest absence levels, with approximately ...
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Article
Group risk industry paid £1.2bn in claims in 2012
A total of £1.2 billion was paid out by the group risk industry during 2012, according to research by industry body Group Risk Development (Grid).Its research compiled claims statistics to reveal the breakdown of benefits paid out by products, such as group life assurance, group income protection and group critical ...
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Article
B&Q staff to share £15m share plan payout
More than 14,000 B&Q and Screwfix employees are to share a £15 million payout following the maturity of parent company Kingfisher Group’s three-year and five-year sharesave schemes.Based on the closing share price of 375.9p on 29 November 2013, this equates to an average gain of £6,867 per person.The majority of ...
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Article
Travis Perkins staff to share £17m sharesave payout
More than 7,000 Travis Perkins employees are to share nearly £17 million following the maturity of a five-year sharesave scheme on 1 December.This could amount to profits of £50,000 per employee.The home improvement organisation’s share price has risen by 50% over the past 12 months, to 1,757p on 10 December.The ...
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Article
Only 2% intend to scrap childcare vouchers
Only 2% of respondents intend to remove their existing childcare voucher offering prior to the introduction of the government’s proposed new scheme in 2015, according to research by Jelf Employee Benefits.Its research, which surveyed 132 employers, found that 75% of respondents would consider retaining their existing childcare voucher scheme post-2015.In ...
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Article
DOD’s blog: What is going to happen to childcare vouchers in 2015
An interesting survey caught my eye this week.It was the one conducted by Jelf Employee Benefits on how employers intend to react to the change in legislation on employer-provided childcare vouchers (just 2% said they would scrap childcare vouchers as a result).The sample of respondents is rather small (just 132 ...
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Article
42% have never changed their DC pension investments
Almost half (42%) of respondents have never made a change to their defined contribution (DC) pension investments, according to research by AllianceBernstein.Its Defined contribution survey, which questioned 500 employees who save into a DC pension, found that 22% believe changes to pension investments are not their responsibility.The research also found:55% ...
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Article
DOD’s blog: Will you still need me when I'm 68?
It is rare I feel quite as excited about Autumn Statements and Budget Speeches as I did yesterday.After years of writing about the fact that sharesave limits have not been raised since 1991 (that is I, Employee Benefits and many others more influential than ourselves), I was thrilled to hear ...
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Article
91% of pension schemes charge members
The majority (91%) of pension schemes have some form of charge for their members, according to research by the National Association of Pension Funds (NAPF).Its 39th Annual survey, which covered 950,000 defined contribution (DC) pension members, found that 79% of schemes have an annual management charge (AMC), while the employer ...
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Article
Leasedrive Group partially acquired by HgCapital
Leasedrive Group has been 80% acquired by private equity investor, HgCapital.The fleet group’s management team has rolled 20% of their own investment and equity into the new financial structure.David Bird, managing director of Leasedrive Group, said: “This new investment, which sees the senior management team retain equity and shareholding, demonstrates ...
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Article
HMRC changes company car advisory fuel rates
HM Revenue and Customs (HMRC) has announced a change to its company car advisory fuel rates.The changes, which relates to some petroleum, diesel and low petroleum gas (LPG) cars, include reductions of 1p per mile in the rate paid to drivers using diesel, and 2p per per mile for employees ...
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Article
?Aegon UK to move investment platform in-house
Aegon UK is to purchase Novia Investment Services from Novia Financial.The acquisition, which is subject to regulatory approval, will mean the development work on Aegon’s platform, Aegon Retirement Choices, will move in-house.Novia Investment Services was set up as a separate organisation to build and administer Aegon’s platform in 2011.Tommy Young, ...
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Article
Aspire to Retire launches pre-retirement portal
Aspire to Retire has launched an online retirement portal, iAspire, to provide information and tools for pension scheme members.The portal is designed for employees to begin planning for retirement up to five years before their intended retirement date.It aims to educate pension scheme members and engage employees earlier to help ...
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Article
Zurich launches group life assurance for partners
Zurich has launched a group life assurance product for employees’ partners.The product includes:Flexibility for the employer to set the value and number of benefit steps, up to a maximum benefit of £250,000.A simple member acceptance process that operates on a short application form.Cover up to age 75.Nick Homer (pictured), group ...
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Article
Broadstone partners Standard Life for auto-enrolment product
Broadstone Corporate Benefits has partnered Standard Life to launch an auto-enrolment product for small and medium-sized enterprises (SMEs) that stage from January 2014.Employers will have access to the auto-enrolment product via Standard Life’s group flexible retirement plan.It includes:Online functionality for employers and employees.Unlimited switching for member’s investment funds.An actively-managed default ...
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Article
Micros Systems to streamline pensions for auto-enrolment
Micros Systems is to streamline its six existing defined contribution (DC) pension schemes into a new group personal pension (GPP) plan to comply with its auto-enrolment duties.The service provider for the hospitality and retail industries will auto-enrol around 1,000 employees on its staging date of 1 April 2014.It has appointed ...
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Article
Aviva makes changes to international PMI
Aviva has made changes to its international private medical insurance, which will come into force from 1 February 2014.The changes, which aim to provide new and existing members with clearer benefit terms, include an increase in core benefits to an annual limit of £5 million.The policy has been divided into ...
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Video
VIDEO: Debi Povey: Employee Benefits award put Bwin.Party on the map
Winning an Employee Benefits award put Bwin.Party on the map, said Debi Povey, head of reward at Bwin.Party, during an interview with Debbie Lovewell-Tuck, deputy editor of Employee Benefits.Bwin.Party won the award for ‘Best international benefits’ at the Employee Benefits Awards 2013.She added: “The award was because of a huge ...
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Article
Axa PPP to launch musculoskeletal health pathway
Axa PPP Healthcare is to launch a new referral approach for employees with musculoskeletal conditions.Its Musculoskeletal Health Pathway, which will be available from 1 January 2014, aims to cut the claims’ costs of private medical insurance by ensuring employees are referred quickly to suitable providers for evidence-based care.The referral approach ...