All Employee Benefits articles in Web Issue – Page 772
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ArticleGuidance guarantee to be delivered under single brand
The government’s guidance guarantee will be delivered under a single brand rather than under the Pension Advisory Service (TPAS) or Money Advice Service (MAS) brands, confirmed the Financial Conduct Authority (FCA) at the National Association of Pension Funds (NAPF) annual conference.The government announced in July that its guaranteed guidance on ...
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AnalysisWhat should a company car risk management strategy cover?
If you read nothing else, read this…Employers have a duty of care towards staff drivers. It is difficult for organisations to know when employees are driving for business. Checks, such as ensuring staff have a valid driving licence, are simple to make. Under the Corporate Manslaughter and Corporate Homicide Act ...
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AnalysisTop tips to control company car scheme costs
If you read nothing else, read this…Car choice should be aligned to an employee’s grade.Employers should consider the most cost-effective funding model for their workforce.Fully expensed fuel cards should be discontinued.1. Align car choice with employee gradeEmployers should ensure the choice of company cars they offer their workforce is aligned ...
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VideoVIDEO: David Hosking: Car salary sacrifice success depends on communication
A clear and concise communication strategy is vital to boost the success of a salary sacrifice car scheme, according to David Hosking, chief executive of Tusker, in an interview with Clare Bettelley, associate editor at Employee Benefits. At the Employee Benefits Fleet debate in August, Hosking said: ”[Employers] have to ...
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OpinionClaire Evans: Designing and marketing an effective car salary sacrifice scheme
Making company cars available to all employees via a salary sacrifice scheme is a popular way for organisations to enhance benefits packages.Lease providers should offer their expertise and support to employers considering a salary sacrifice scheme at every stage of the process, from initial policy designs through to a campaign ...
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AnalysisWhat the future holds for company car schemes
If you read nothing else, read this…Mobility and flexibility will be at the heart of future fleet schemes.Employers must be mindful of the cost-conscious Generation Y.Mobile apps will help staff service their vehicles while on the road. Mobility and flexibility will be at the heart of future fleet schemes, according ...
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AnalysisAre salary sacrifice car schemes worth employers' efforts to implement?
If you read nothing else, read this…Salary sacrifice car schemes offer staff access to a brand new car and ongoing support and maintenance in return for sacrificing a portion of their gross salary. Employers and employees can make big tax and national insurance savings. Scheme communications must highlight employees’ benefit-in-kind ...
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ArticleTwo-thirds of employers recognise importance of company cars
Two-thirds of employer respondents say the company car is an important employee benefit, according to research by Lex Autolease..Its Report on company motoring, which is compiled from independent surveys of more than 1,400 businesses, company car drivers and employees who use their own car for work purposes, also found that ...
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ArticleSouthern Water launches employer-paid health cash plan
EXCLUSIVE: Southern Water has launched an employer-funded health cash plan for its 2,000 employees.The scheme, ‘yourHealth Cash Plan’ provided by Bupa, has achieved more than 68% employee opt in since its launch in July.The organisation launched the scheme after research among employees found that staff wanted assistance with healthcare costs.More ...
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ArticleCentrica to launch network for working fathers
EXCLUSIVE: Centrica is setting up a social dads network for its working fathers following a review into updating the organisation’s family-friendly policies.The energy organisation, which owns British Gas, decided to implement such a programme on the back of the shared parental leave legislation which comes into force in December.As a ...
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ArticleEmployee engagement in pensions requires less fund choice
Employees who work for employers that offer a limited choice of investment options for their workplace pension scheme are likely to be more engaged in retirement planning than staff who are offered a vast choice. Speaking at the National Association of Pension Funds annual conference 2014 in Liverpool on 16 ...
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ArticleCivil Service staff to receive equal parental leave pay
All Civil Service employees will be entitled to full parental leave pay from April 2015, the government has announced today.Currently, only mothers are entitled to full pay when a couple chooses to share parental leave but under new reforms, fathers will also be given the same entitlements.Under the current system, ...
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ArticleEnding of colleague's contract not maternity discrimination
An employment tribunal has ruled that failure to inform an employee about the ending of a colleague’s contract does not result in maternity discrimination.The decision comes from the case Smith-Twigger v Abbey Protection Group, where the claimant had worked full-time but from April 2011 arranged, because of her childcare responsibilities, ...
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ArticleConsultancies combine communications practices
Hymans Robertson and communication specialists Like Minds have created a new joint venture aimed at bringing together its communication practices.The joint venture will marry the two entities in a 50/50 partnership with the existing Hymans Robertson and Like Minds communication teams combining, working from offices in London and Kenilworth in ...
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ArticlePSHPC launches dependants' life cover
Employees will now be able to cover their partner on a group life assurance policy through a dependant’s benefit provided by Punter Southall Health and Protection Consulting’s (PSHPC) new group life product, Havensrock, which is insured by Scottish Friendly.Traditionally, group life pays a lump sum to an employee’s chosen beneficiary ...
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ArticleCreating sustainable EU pension system a key priority
Creating a sustainable and adequate pension system across the European Union (EU) is a key priority, according to Gabriel Bernardino (pictured), chairman of the European Insurance and Occupational Pensions Authority (EIOPA).Speaking at the National Association of Pension Funds (NAPF) annual conference on 17 October, Bernardino also challenged pension scheme providers ...
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ArticleDefault investment strategies must have flexibility to deal with uncertainty
Default investment strategies must be robust enough to be able to deal with uncertainty and the evolution of pensions, according to Tim Banks, managing director of sales and client relations at AllianceBernstein.Speaking in a session on ‘Defined contribution (DC) investment – do we need to think again?’ at the National ...
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ArticleEmployee gains from sharesave schemes more than double
Employee gains from sharesave schemes have more than doubled in the last year, according to research by law firm Pinsent Masons.Its research found that profits made by employees at the conclusion of the scheme, either after three or five years, have increased by 141% from £360 million up to £870 ...
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ArticleOne in four employees do not know how much they pay in to pensions
One in four employees do not know how much they contribute to their workplace pension fund, and many are unsure about how much they should be saving for an adequate retirement, according to research by Scottish Widows.The Scottish Widows pensions report, which surveyed 5,200 UK adults, also found that one ...
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ArticleEmployers must prepare for shared parental leave requests
Under the new rules, which take effect from December 2014, parents will be able to share 12 months’ leave after the birth of their child.Employees who discover they are pregnant and are due to give birth after 5 April 2015 can start sending their employers a notice of eligibility and ...