All Employee Benefits articles in Web Issue – Page 707
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ArticleNearly one million UK workers suffer long-term sickness absences
An estimated 960,000 UK employees are on sick leave for a month or more each year, according to analysis by the Department for Work and Pensions.Its Long-term sickness absence analysis looked at information from the Office for National Statistics’ Labour force survey, specifically at figures published between October 2010 and ...
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ArticleGovernment to add charges disclosure to Pensions Bill
The government has tabled an amendment to the Pensions Bill to require pension providers to disclose all transaction costs in workplace defined contribution (DC) pension schemes.This extra information is aimed at enabling employers to see exactly how much they are paying for asset management services to get the best value ...
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ArticleHMRC to change share plan administration process
HM Revenue and Customs (HMRC) is to change the way both new and existing employee share schemes are administered.In its Finance Bill 2014 new guidance notes, published on 7 February, HMRC detailed its new self-certification and online filing process, which follows recommendations made by the Office of Tax Simplification in ...
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ArticlePresenteeism higher among unhealthy employees
Unhealthy employees are 53% more likely to suffer presenteeism and 55% more likely to have poorer productivity overall in the workplace, compared to their healthier counterparts, according to research by Pruhealth.Its Britain healthiest company report, which surveyed almost 10,000 employees, found that organisations with poor management leadership around health and ...
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ArticleAnnuities market is not working
The annuities market is not working, according to a review by the Financial Conduct Authority (FCA).Its Thematic review of annuities, which is part of the first stage of the FCA’s review into retirement products, gathered information from 25 organisations representing 98% of the annuities market.The review found that, for a ...
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AnalysisBenefits offered to staff based outside the UK
Sample: Respondents responsible for compensation and benefits in their own organisation, which offer benefits to staff based outside the UK (80)Source: The Benefits Research 2013, Employee Benefits, published May 2013.
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ArticleBenefit-in-kind tax most influential for company car choice
More than a third (39%) of respondents cited benefit-in-kind tax as the most influential factor when selecting a company car, according to research by ALD Automotive.Its research, which surveyed 1,000 fleet drivers, found that 25% of respondents chose car specification and 17% chose fuel economy as the most influential factors.Benefit-in-kind ...
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ArticleFocus on dental health at Employee Benefits Connect
Denplan will put the spotlight on oral health during a roundtable discussion at Employee Benefits Connect on 27 February.The roundtable session will aim to make delegates more aware of how dental care can add value to an organisation’s benefits plans, and can help to reduce workplace absence.Roger Matthews (pictured), chief ...
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Article
North Yorkshire County Council launches voluntary benefits plan
North Yorkshire County Council (NYCC) has launched a voluntary benefits scheme.The scheme, Everybody Benefits, is available to the council’s 19,000 employees through a framework agreement.The online portal incorporates lifestyle discounts from provider Xexec, as well as childcare vouchers provided by Computershare Voucher Services, a bikes-for-work scheme provided by Cyclescheme and ...
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Article
RSA staff take up salary sacrifice car scheme
EXCLUSIVE: RSA has seen 1.5% of its employees take up its car salary sacrifice scheme, meaning it is halfway towards its first-year target of 3%.The insurance organisation launched the scheme for its 7,500 eligible employees in September 2013 and has currently seen more than 110 employees take up the benefit.The ...
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Article
Rugby Football League switches health cash plan providers
The Rugby Football League (RFL) has switched health cash plan providers.The employer-funded plan, now provided by Medicash, offers the RFL’s 86 employees based in Leeds access to a range of benefits, including physiotherapy, dental and optical treatments, flu jabs, as well as specialist services, such as consultations and diagnostic treatment.Other ...
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ArticleMultinationals most likely to provide DC pensions for staff
Nine out of 10 (90%) global respondents provide employees with a defined contribution (DC) pension scheme as their main form of workplace retirement provision, according to research by PricewaterhouseCoopers (PWC).Its research, which surveyed 114 multinational employers, found that the same percentage (90%) still want to play a significant role in ...
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ArticleEValue enhances financial planning products
EXCLUSIVE: EValue has enhanced its suite of financial planning and forecasting products, Moneybee.The products can be used as standalone financial planning and forecasting tools, or can be integrated into a portal that employers provide for staff.The updates include:A corporate individual savings account (Isa) fund picker. This provides the ability to ...
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Article
Merlin launches global sharesave scheme
EXCLUSIVE: Merlin Entertainments has launched an international sharesave scheme for 9,500 eligible employees.The scheme, which was launched on 13 January and closed on 3 February, was open to staff in 22 countries, including the US, Japan, Germany, Italy and New Zealand.The visitor attraction operator, which owns Alton Towers, the London ...
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L’Oreal to launch total reward statements
EXCLUSIVE: L’Oreal is to launch total reward statements as part of the rollout of its new flexible benefits scheme.The statements, which will go live via the cosmetics and beauty organisation’s new online flexible benefits portal in March, will summarise the benefits that employees have chosen through the flex scheme, as ...
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Article
Angie Risley: Will the increase in share plan limits boost scheme numbers?
At Sainsbury’s, we know that a major part of the success of the business is down to the 157,000 employees working in our stores, depots and offices.We believe in giving our employees and their families the opportunity to own a real stake in our business, so their interests are genuinely ...
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AnalysisLanguage to avoid in pension communications
If you read nothing else, read this…Communication should be clear and straightforward, avoiding jargon where possible.Messages could be tailored for different age groups and industry sectors.Jargon can put employees off saving for retirement.A National Employment Savings Trust (Nest)/YouGov survey, published in 2012, which polled nearly 2,000 UK adults, revealed that ...
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Debbie Lovewell-Tuck: Good deeds pay dividends
Although the same time parameters do not apply, this sense of altruism is extending into the workplace. In the first few weeks of this year alone, we reported on several large employers’ charitable or green initiatives linked to their benefits or reward schemes.Reinsurer Swiss Re, for example, extended its financial ...
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Average income 6% lower than in 2007-08
Average income in 2013-14 is 6% lower in than it was before the economic crisis began in 2007-08, according to research by the Institute for Fiscal Studies (IFS).Its Green budget 2014: the squeeze on incomes found that this fall in average incomes has largely been driven by declines in real ...
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Article
Bwin.Party to launch new long-term incentive plan
Online gaming organisation Bwin.Party is planning to launch a new long-term incentive plan for executive directors and senior managers.The Bwin.Party Digital Entertainment 2014 incentive plan (BIP) will succeed the organisation’s previous two schemes, its bonus banking plan and its value creation plan, which were both adopted in conjunction with the ...