All Employee Benefits articles in Web Issue – Page 778
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ArticleDOD’s blog: Low pay is bad for society
This week we found out that more people are on low pay than ever before. Now 22% of UK workers earn the equivalent to £7.69 an hour according to the Resolution Foundation’s annual audit, Low pay Britain 2014.This mirrors last week’s report from the Chartered Institute of Personnel and Development ...
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ArticlePension scheme membership lowest among 16 to 21 year olds
Employee membership of a workplace pension is at its lowest at the beginning of an employees’ working life, according to research by the Office for National Statistics.Its Pension scheme membership report found that among employees aged 16 to 21, around 10% of both men and women belonged to their employer’s ...
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ArticleThirteen Group offers health and protection benefits
Thirteen Group has introduced access to protection benefits and private medical insurance (PMI) advice for its 1,400 employees.The housing management company will provide access to the benefits, which are offered on a voluntary basis and provided by Premier Choice Group, via its intranet-based benefits and reward site.Through the site, employees ...
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Article
Buyer's guide to group personal pensions
Under a group personal pension (GPP), an employer agrees to make monthly contributions into the scheme, but the contract is between the employee and the pension provider. Currently, a GPP ends when the member retires and buys an annuity with the proceeds, so there is no obligation on the employer ...
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AnalysisWhy should employers be concerned about mental health?
Mental illness is a serious problem for businesses and for the economy, with one in six employees dealing with a condition such as stress, anxiety or depression in any one year. All too often, the first the employer knows about it is when the employee has to take time off ...
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ArticleWest Middlesex Hospital saves £38,000 with pool car scheme
EXCLUSIVE: West Middlesex University Hospital has saved more than £38,000 by launching a pool car scheme.The employer introduced a Nissan Leaf electric car, provided by Alphabet, for 40 of its therapists to use to help cut the cost of taxi fares and to lower the hospital’s carbon footprint.Therapists’ taxi fares ...
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Article63% of FTSE 100 staff interested in shared parental leave
Just under two-thirds (63%) of respondents are interested or very interested in taking up shared parental leave when it comes into effect from 1 December, according to research by law firm Linklaters. The legislation will enable eligible parents to share a period of their maternity or adoption leave with their ...
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ArticlePensions research 2014
The Employee Benefits/Close Brothers Pensions research 2014, examines the latest pensions industry trends and issues, enabling employers to keep up to date on the changing needs of their workforce, particularly for staff approaching or at retirement. The research includes the following articles:Jeanette makings: Financial education provides essential retirement guidance Clare ...
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Article36% predict future need for at-retirement support
Just over a third (36%) of respondents think that employers will need to offer at-retirement support to their staff in the future, according to the Employee Benefits/Close Brothers Pensions research 2014.The research, which surveyed 216 respondents in September 2014, also found that 30% of respondents are in the throes of ...
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Article39% struggle to find maternity benefits information
Nearly two in five (39%) female employees struggle to find details about their employer’s maternity benefits, according to research by jobs and careers website Glassdoor.Its survey of 1,000 working women, 500 who have already taken maternity leave and 500 who plan to do so in the future, found that 13% ...
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Article49% assessing at-retirement support funding
Just under half (49%) of respondents have yet to quantify the funding they need for their pre-retirement programmes, according to the Employee Benefits/Close Brothers Pensions research 2014.More than a third (35%) of the 87 respondents that offer staff support at retirement expect their funding to remain about the same in ...
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Article55% do not offer staff support at retirement
More than half (55%) of respondents do not offer their staff support at retirement, according to the Employee Benefits/Close Brothers Pensions research 2014, which surveyed 216 respondents in September 2014.However, the majority of respondents (93%) that do offer staff support have a comprehensive communications campaign in place for staff at ...
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ArticleOnly 6% of UK staff on track for retirement income
Just 6% of employee respondents are on track for the retirement income they want, despite the focus on pensions following the reforms announced in this year’s Budget, according to research by Aegon.Its second Aegon UK Readiness report surveyed 4,000 UK employees to assess their behaviour, awareness and finances to determine ...
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Article62% of HR and benefits teams support staff at-retirement
Just under two-thirds (62%) of respondents’ HR and benefits teams are responsible for their organisation’s at-retirement support for staff, according to the Employee Benefits/Close Brothers Pensions research 2014.The research, which surveyed 216 respondents in September 2014, also found that just over a third (37%) of respondents said that their pension ...
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ArticleZurich proposes closing DB pension to future accrual
Zurich is proposing to overhaul pension and reward arrangements for all of its UK employees, which may include closing the defined benefit (DB) section of its pension scheme to future accrual in 2015. The proposed changes, which would affect 7,200 employees, aim to help safeguard Zurich’s long-term future as a ...
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ArticleAviva in talks to acquire Friends Life
Aviva is in talks to buy fellow insurer Friends Life in a deal worth almost £5 billion.The merger would create the UK’s largest insurance and savings business with more than 16 million customers.It would also lead to a substantial increase in profits and assets under management at Aviva Investors.he merger ...
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VideoVideo Chris Minett: Employers need to act now to support ageing workforce
Employers need to devise a strategy for supporting their ageing workforce with immediate effect, according to Chris Minett, managing director of AgeingWorks. Speaking at Employee Benefits’ Group risk debate, sponsored by MetLife, in September, he said: ”Employers must recognise which employees are being affected and provide proactive rather than reactive ...
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ArticleClare Bettelley: Employers need to address staff at-retirement needs now
This perhaps explains why more than half (55%) of respondents do not offer staff support at retirement; the associated issues aren’t at the forefront of employers’ minds.Many employers have reservations about providing at-retirement support because of the blurred boundary betweenfinancial guidance and advice , which employers are prohibited from offering.Employees ...
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ArticleHalf of women saving adequately for retirement
Half of the UK female population is now saving adequately for retirement, representing a 10 percentage point rise year on year, according to research by Scottish Widows.The Scottish Widows Women and retirement report, which surveyed 5,055 UK adults, also found that the gender gap when it comes to adequate retirement ...