All Employee Benefits articles in Web Issue – Page 747
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ArticleAt-retirement market set to triple in 10 years
The at-retirement market is set to grow considerably in the next 10 years, according to research by Towers Watson.Its research, which used projections derived from a study of the aggregate value of UK pension pots for different age segments, estimated that inflows into the market will reach £50 billion by ...
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Article£2.85bn awarded to staff via share plans in 2012/13
The total value of shares and options awarded through employee share plans in 2012/13 was £2.85 billion, according to figures by HM Revenue and Customs (HMRC).Its Employee share schemes statistics for 2012-13 report, which covers the 2012/13 tax year, found that this was 7% higher than in 2011/12 across the ...
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ArticleBuyer's guide to financial education 2014
A well-designed financial education programme can help staff improve their financial literacy and understand how such changes might affect their own financial situation, as well as generally learn how to make their pay go further.Money worries have been a major cause of stress and anxiety for staff throughout the recession, ...
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ArticleBuyer's guide to health screening 2014
In a world of increasing pressure in the workplace, more employees are taking time off to deal with stress and illness. Health screening can therefore be a useful tool for employers to gain an insight into employees’ current wellbeing and to promote health awareness in the workforce.Health screening can be ...
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ArticleAuto-enrolment will add 8.5m new pension savers by 2030
Around 8.5 million people could become new pension savers by 2030 if auto-enrolment opt-out rates remain around 9-10%, according to research by the Pensions Policy Institute (PPI).The report, How will automatic enrolment affect pension saving?, which was sponsored by Legal and General, analysed data provided by auto-enrolment pension scheme providers ...
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ArticleSick days cost UK employers £23bn a year
Sick days are costing UK organisations more than £23 billion a year, down from £29 billion a year ago, according to research by PricewaterhouseCoopers (PWC).Its research, which surveyed 2,500 global organisations, found that UK employees still take triple the number of sick days than their global counterparts.UK employees take an ...
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Article25% offer just statutory maternity pay to staff
A quarter (25%) of respondents only offer statutory maternity pay to staff, according to research by My Family Care.Its research, which surveyed 100 employers, found that, among respondents that do provide enhanced maternity pay, the duration ranged from three weeks to 52 weeks.The research also found that the legal and ...
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ArticleOnly 26% of UK respondents confident about DC pension savings
Around a quarter (26%) of UK respondents feel confident that they will have enough saved through their employer’s defined contribution (DC) pension scheme to afford the lifestyle they want in retirement, according to research by State Street Global Investors (SSGA).Its research surveyed more than 2,000 respondents aged between 22 and ...
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Article33% expect employers will fund workplace financial guidance
A third (33%) of respondents expect that employers will have to fund financial guidance for their entire workforce following the pension reforms announced in the Budget 2014, according to research by Jelf Employee Benefits.Its research, which surveyed more than 200 employers, found that just over a quarter (28%) of respondents ...
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Article49% are satisfied with their benefits package
Nearly half (49%) of employee respondents are satisfied with their benefits packages, according to research by Thomsons Online Benefits.The role of benefits in retaining and protecting your best talent report, which surveyed more than 450 organisations representing more than 1.2 million employees, found that 29% of employee respondents felt they ...
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Article51% of eligible staff take part in sharesave schemes
More than half (51%) of eligible employees are now taking part in a sharesave scheme via their employer, up from 34% in 2013, according to research by industry body IFS Proshare,The annual IFS Proshare Sip and SAYE survey found that total monthly employee contributions to sharesave schemes rose by £28 ...
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ArticleOcado staff receive sharesave payout of £7,900
EXCLUSIVE: Ocado employees have received average payouts of £7,900 after its first three-year sharesave scheme matured.The sharesave scheme, provided by Capita Employee Benefits, matured on 1 December 2013.The six-month maturity period, during which time members decide how to exercise their options, came to a close in June.Joanna Gordon-Utting, reward and ...
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ArticleOffice of Budget Responsibility projects future retirement age of 70
Future generations of UK employees will have to work until age 69 or 70 before they receive their state pension, according to a report by the Office for Budget Responsibility (OBR).Its Fiscal sustainability report, which was presented to Parliament on 10 July, projects that state pension costs will increase from ...
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Article85% of salary sacrifice drivers want more communication
Around 85% of respondents would be open to further communications about their salary sacrifice car scheme, according to research by Zenith.Its research, which surveyed 327 eligible salary sacrifice car scheme drivers, found that take up of the scheme varies considerably, depending on the level of communication permitted, from around 15% ...
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Article89% of fleet drivers have faked mileage claims
Nine out of 10 (89%) respondents have submitted an inaccurate mileage claim to their employer, according to research by car hire organisation Flexed.co.uk.Its research, which surveyed 1,200 company car drivers, found that 63% of respondents had added personal miles to their work driving total for personal gain.The research also found:20% ...
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ArticlePSHPC launches absence management service
EXCLUSIVE: Punter Southall Health and Protection Consulting (PSHPC) has launched an absence management service.Healthsmart integrates occupational health, absence management and employee benefits, to help employers get employees back to work as quickly as possible, improve productivity and cut costs.The service, which has been launched to complement the government’s incoming Health ...
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VideoVIDEO: Adam Brooke: Eldercare support is a key issue for employers
Eldercare support is a key issue for employers, said Adam Brooke, employee benefits and wellness manager at JP Morgan in an interview with Clare Bettelley, associate editor at Employee Benefits.“We are heavily looking at that at the moment, whether that’s support in the home for days when there isn’t support ...
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ArticleNS&I and HMRC to administer tax-free childcare scheme
The government has confirmed that National Savings and Investments (NS&I) and HM Revenue and Customs (HMRC) will work together to provide the new tax-free childcare scheme.Its Tax-free childcare: the government’s response to the consultation on childcare account provision follows the consultation launched in May 2014 on options to deliver the ...
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VIDEO: Jackie Buttery: Create a benefits agenda for a diverse workforce
She said: “The challenge is getting the right initiatives first and keeping momentum over the long term, beyond the launch phase and into further years of development.”The biggest challenge facing HR and benefits professionals is creating a sustainable benefits agenda that resonates with a diverse workforce, said Jackie Buttery, head ...
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VideoVIDEO: Neal Blackshire: Align recognition plans with business priorities
Employers must align their recognition schemes with their business priorities, said Neal Blackshire, reward manager at McDonald’s Restaurants in an interview with Clare Bettelley, associate editor at Employee Benefits.He said: ”Make sure it’s simple, clear and easy to understand what someone might get recognised for and what they will receive.”He ...