All Employee Benefits articles in Web Issue – Page 693
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Article
Cost and administration main auto-enrolment concerns
The ease and cost of auto-enrolment administration and the cost of minimum contributions are the top business priorities around auto-enrolment, according to research by the Confederation of British Industry (CBI) and Standard Life.A view from the top survey, which questioned 226 chief executives and board members in organisations, found that ...
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Article
Department of Health consults on pensions
The Department of Health has launched a consultation on proposed changes to the NHS Pension Scheme.These proposals include:Increases to employee pension contributions. The NHS is moving in to the final year of the three-year increases to employee contributions. The consultation outlines the proposed increases for 2014/15, which will come in ...
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Article
Royal Mail reaches pay settlement
Royal Mail Group has reached a pay agreement with the Communication Workers Union (CWU), which covers nearly 140,000 employees.The pay agreement includes:Pay increases over three years: 3% in the financial year 2013/14 backdated to April 2013, 3% in the financial year 2014/15 and 2.8% (subject to review if inflation is ...
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Article
HMRC launches 31% more probes into tax and NI evasion
This number has increased by 31% since last year, up from 1,599 to 2,009 employers.The use of real-time information (RTI) reporting is thought to have helped HMRC launch more investigations into irregularities.Under RTI, which was introduced between April and October this year, HMRC receives monthly updates on employees’ pay and ...
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Article
HMRC wins income tax avoidance case
HM Revenue and Customs (HMRC) has won a tax tribunal ruling in an income tax avoidance scheme, which is expected to protect up to £400 million in tax that would otherwise not have been paid.The scheme was marketed by Consulting Overseas Limited to independent contractors as a remuneration package that ...
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Article
How the Autumn Statement will impact employee benefits
Chancellor George Osborne (pictured) presented the Autumn Statement on 5 December.Here is how it will impact employee benefits:Share scheme limits to increaseRise in state pension age brought forwardOTS to implement nine quick wins on employee benefitsGovernment to extend tax exemption on employer-paid healthcareFuel duty increase cancelledTax exemption on bonuses under ...
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Opinion
John Lionis: Going back to basics on wellbeing
However, there is an aspect of wellbeing that is often overlooked when discussing strategies, collecting key facts or coming up with specific interventions (see Health and wellbeing supplement, November 2013): the relationship employees have with their line managers.This is perhaps the single most important aspect of employee wellbeing. A positive ...
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Article
Helen Forrest: Will the government's proposed 0.75% pension charges cap be enough?
Pensions can be complex, so it is important that members can be confident that their pension offers value for money. That is why the National Association of Pension Funds (NAPF) has been working to promote an industry benchmark for good quality pensions through our Pensions Quality Mark standard.Charges have been ...
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Article
BA takes legal action against pension trustees
British Airways has launched legal action against its pension trustees to try to prevent it from increasing the amount the airline has to pay into its defined benefit (DB) pension scheme.The British Airways Pension Scheme (APS) had its annual increases to payments changed in 2011 from being linked to the ...
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OpinionIan Curry: How to communicate with opted-out employees
After this busy three-month period, millions of employees will have been brought into pension saving under the new pensions regime and, once the enrolment process is complete, employers will, hopefully, return to business as usual.But an ongoing employer duty that could take up plenty of valuable administration time is managing ...
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Article
Regulator launches public sector pensions consultation
The Pensions Regulator (TPR) has published a consultation on a draft code of practice to help public service pension schemes meet governance and administration requirements set out in legislation.The Regulating public service pension schemes: our approach to enabling high standards of governance and administration consultation will run until 17 February ...
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Article
Older staff healthier and fitter than younger colleagues
Many employees in their 60s are healthier and fitter than colleagues in their 30s, according to research by Pruhealth and Mercer.Britain’s healthiest company report, which surveyed nearly 10,000 UK employees, found that the average Vitality Age (or health age) of respondents in their 60s is 3.9 years older than their ...
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ArticleUK staff among the lowest paid in Europe
UK employees are the lowest paid across most job levels compared to other European countries, according to research by Towers Watson.Its Global 50 remuneration planning report found that base salaries for entry-level professionals and experienced administration staff are particularly low in the UK, ranked 15 out of the top 16 ...
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Article
Healthy Performance launches online health tool
EXCLUSIVE: Healthy Performance has launched an online health assessment tool for employers and employees.The tool provides employers with a live dashboard where they can see anonymous, real-time data as employees complete their health assessments.Employers are then provided with an overall wellbeing score and a health risk score for their workforce, ...
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Article
Showcase benefits through the Employee Benefits Awards
Lindsey Christie, benefits administrator at Admiral Group, explains what it means to be recognised with an Employee Benefits award.The organisation was awarded ‘Best pensions communications’ at the Employee Benefits Awards 2013.1. What has winning an Employee Benefits’ award meant to you? Richard [Thorne, HR department manager] and I are extremely ...
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Article
Reeves and Co uses flex to manage acquisition
Reeves and Co is using its flexible benefits scheme to manage the transfer of employees after a merger with accountancy firm CLB Gatwick on 2 December.CLB Gatwick staff are to join the accountancy firm under a Transfer of Undertakings (Protection of Employment) (Tupe) arrangement.The new employees will be able to ...
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Article
London Underground drivers to receive £350 bonus
London Underground train drivers are to receive a £350 bonus payment for working on Boxing Day.Train operators have taken industrial action on Boxing Day for the past three years.Phil Hufton, chief operating officer of London Underground, said: “We have been in discussions with the relevant unions representing the train operators ...
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ArticleRelationship with colleagues most important for engagement
Employees’ relationship with their colleagues is 23% more connected to happiness at work than their relationship with their line manager, according to research by TinyPulse.Its 2013 Employee engagement survey, which analysed 40,000 responses from more than 300 organisations, found that 36% of respondents provide peer-to-peer recognition schemes.The research also found:Only ...
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Article
Payroll should be responsible for pensions auto-enrolment
More than a third (39%) of respondents believe payroll departments should be primarily responsible for pensions auto-enrolment, according to research by Iris Software Group.Its research, which surveyed 100 small and medium-sized enterprises (SMEs), found that 13% of respondents felt the legislative changes should be the responsibility of payroll and HR, ...
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Article
Carillion Group agrees DB pension longevity swap
Support services organisation Carillion Group has entered into a longevity swap for five of its defined benefit (DB) pension schemes.The longevity swap, which covers around 9,000 pensioners and has a liability of around £1 billion, aims to hedge against the risk of rising costs as a result of the current ...