All Employee Benefits articles in Web Issue – Page 779
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ArticleStaff face big decisions around pension savings
Nearly two-thirds (60%) of respondents say uncertainty about how to make the best decisions around how to access their pensions savings is the greatest challenge facing their employees, according to the Employee Benefits/Close Brothers Pensions research 2014. The research, which surveyed 216 respondents in September 2014, also found that the ...
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ArticleBT, Asda, Saga, Sky and TalkTalk awarded for share plans
BT, Saga, Asda and TalkTalk were among the employers awarded for their employee share plans at the IFS Proshare Awards 2014 on 26 November.All winners were commended for their contribution to fostering employee share ownership.Saga won the award for best new share plan, while BT was awarded for their effective ...
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AnalysisWhat should employers ask when implementing group risk benefits?
If you read nothing else, read this…Employers must first identify employee needs.They should then establish how their appointed insurer will help them implement their plan.A good insurer will help an employer manage its benefits spend and ongoing costs. Employers must establish a strong relationship with their group risk benefits consultants ...
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ArticleAt-retirement support is key part of employee value proposition
Just under half (49%) of respondents say that supporting staff at retirement is a key part of their employee value proposition (EVP), according to the Employee Benefits/Close Brothers Pensions research 2014.The research, which surveyed 216 respondents in September 2014, also found that 43% see its role in engaging staff as ...
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AnalysisWhat impact has pensions auto-enrolment had on the group risk market?
With the UK’s ageing population benefits packages will need to cater for employees with a potential age-range of 20-80, this holds many challengesThe introduction of pensions auto-enrolment from October 2012 helped to substantially boost the group life market without much effort on the part of insurers.Around 100,000 employees were enrolled ...
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ArticlePeel Ports Group awarded Pension Quality Mark Plus
Peel Ports Group has been awarded the Pension Quality Mark Plus (PQM Plus) in recognition of the quality of its enhanced defined contribution (DC) pension scheme.The PQM, which was launched by the National Association of Pension Funds (NAPF) in 2009, recognises employers that offer pension schemes with good-quality governance and ...
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ArticleThomas Miller and Wolseley awarded Pension Quality Mark
Professional service firm Thomas Miller and heating and plumbing organisation Wolseley are among the latest employers to be awarded the Pension Quality Mark (PQM), which recognises employers’ defined contribution (DC) pension schemes. Other organisations to be recognised by the National Association of Pension Funds (NAPF) include chemical organisation BASF, drinks ...
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ArticleBecton Dickinson personalises financial education
EXCLUSIVE: Becton Dickinson has launched a personalised financial education programme for its 300 UK employees.The global healthcare organisation has introduced the programme to deliver education through technology to engage with the whole workforce.Becton Dickinson is using Nudge Global’s Quantum technology, which uses HR and benefits data to profile employees and ...
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ArticlePension schemes fall behind with DC governance requirements
Pension schemes are behind with their work on defined contribution (DC) governance requirements, according to research by pensions law firm Sackers. Its survey, which was conducted among trustees and pension professionals, found that more than two-thirds (69%) of pension schemes have not carried out a value-for-money assessment, a new standard ...
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OpinionTom Gaynor: Employers need to demonstrate true value of employee benefits
So it is important for employers to take a long-term and holistic view of the group risk market and the issues it faces. It was evident that there is a need for insurers to explain the relevance and value of group risk benefits and demonstrate their value to both employers ...
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ArticleClare Bettelley: Education on the value of group risk benefits is lacking
The insurance-based benefits are commonly missed when an employee is forced to take extended sick leave and faces not being paid for the duration of this leave, or when an employee dies and fails to make financial provisions for the family they have left behind.Benefits teams need to devise a ...
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AnalysisIs there a place for group risk benefits in a modern benefits package?
If you read nothing else, read this… The number of people of state pension age is projected to increase by 31% from 12.3 million in mid-2012 to 16.1 million by mid-2037, so employers need to consider older employees’ health needs .Legacy group risk benefits tend to have been brought together ...
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AnalysisWhat does group risk benefits provision of the future look like?
If you read nothing else, read this…Group risk benefits of the future need to reflect the UK’s ageing society.The growing dominance of procurement will stifle innovation in the group risk market. Employees need support to sustain any behavioural changes they make to boost their health and wellbeing. Group risk benefits ...
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VideoEmployers will help drive group risk benefits market growth
Employee needs will drive future growth in the group risk market, according to Katharine Moxham, group spokesperson for industry body Group Risk Development. Speaking at Employee Benefits’ Group risk debate, sponsored by MetLife, Moxham said: “I think that employers are in a very powerful position to tell [providers] what they ...
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ArticleBernard Matthews launches car salary sacrifice scheme
Bernard Matthews Farms has launched a car salary sacrifice scheme.The scheme, which is provided by Pendragon Contracts, is capped at CO2 emissions of 110g/km and by P11d values, offering a range of cars aimed at encouraging staff to choose cars with lower emissions that will maximise savings and aid employee ...
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VideoTom Gaynor: Employers must demand bespoke support from group risk providers
Employers should be able to call on group risk providers to deliver benefits that meet the needs of their workforce, rather than accepting off-the-shelf propositions, according to Tom Gaynor, employee benefits director at MetLife. Speaking at Employee Benefits’ group risk debate, sponsored by MetLife, Gaynor said: “I think that for ...
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ArticleDOD’s blog: The holiday pay debacle
Unless you have been hiding under a rock this week, you will be fully aware that on 4 November the Employment Appeal’s Tribunal (EAT) has made a hugely significant ruling about how holiday pay is calculated.Every law firm in the country, along with several unions, were quick to issue email ...
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ArticleCould shorter working days boost productivity?
Something for the weekend…Workplaces in Sweden tend to structure their working days to last just six hours in an attempt to boost employees’ productivity when they are present in the workplace.A study from screen screen sharing, online meetings and team collaboration services provider Join.me, revealed that 40% of workers aged ...
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ArticleGerald Eve boosts financial education
EXCLUSIVE: Gerald Eve has boosted financial awareness among its 360 employees after holding a number of age-based and one-to-one financial education sessions.The chartered surveyor’s financial education programme, provided by Hargreaves Lansdown, has switched its focus to helping employees deal with stress around personal finances. It has achieved attendance rates of ...
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ArticleLicensed Trade Charity boosts pension take up
Nick Funnell, head of LVS Ascot Junior School, with studentsThe Licensed Trade Charity has seen take up increase in its pension schemes following auto enrolment.The organisation offers three schemes. Firstly, a money purchase defined contribution (DC) scheme, provided by Legal and General, which was introduced for auto enrolment. It has ...