All Employee Benefits articles in Web Issue – Page 788
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ArticleEmployers should act now to manage holiday pay
The EAT ruled that overtime pay must be included in holiday pay calculations, a decision that sent shockwaves through employers, with many fearing the potential cost. The judgments were made in Bear Scotland v Fulton, which focused on whether overtime pay or shift allowances should be included in holiday pay ...
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ArticleGovernment to simplify auto-enrolment legislation
The government has launched a consultation outlining its plans to simplify the auto-enrolment process and help reduce burdens on employers.A Department for Work and Pensions (DWP) consultation, Technical changes to automatic-enrolment: consultation on draft regulations, sets out a number of changes to legislation designed to make life easier for all ...
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ArticleUber launches reward programme for US staff
Cab service firm Uber has launched a reward programme for its drivers in the US.The programme, called Momentum, aims to help keep drivers healthy, grow the business and reduce overall operating costs.Drivers have been given access to benefits including vhelp finding health insurance and discounts on phone bills, as well ...
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ArticlePatricia Nisbett moves to FCA
She will be responsible for maintaining a strong employee reward structure at the financial regulator.Nisbett’s previous roles include total pay manager, Europe, the Middle East and Africa (EMEA) at Starbucks, reward manager at Fox International Channels, and HR reward manager at Marks and Spencer.
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ArticleLinklaters to offer enhanced shared parental leave
Linklaters will offer enhanced shared parental leave (SPL) to staff following the statutory rights that have come into force in the UK this week.The global law firm is offering employees full pay for up to six months’ leave, subject to certain conditions. This is inclusive of any maternity or paternity ...
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ArticleJaguar Land Rover strikes pay deal with staff
More than 15,000 Jaguar Land Rover employees will benefit from better pay and conditions after a deal was struck between the car manufacturer and trade union Unite. The organisation has increased its original offer of a 3% pay rise to a 4.5% pay rise plus a bonus worth £825 per ...
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ArticleChancellor confirms plans to scrap pensions death tax
Autumn Statement 2014: Chancellor George Osborne has confirmed that the government will scrap the 55% tax rate to which pension savings are subject on the death of a scheme member.The plans, which were first announced in September 2014, will come into effect from April 2015.Zoe Murphy, partner at law firm ...
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ArticleIsa tax advantages extended to partners
Autumn Statement 2014: The government has announced that, from April 2015, if an individual savings account (Isa) holder dies who is in a marriage or civil partnership, their spouse or civil partner will inherit the Isa tax benefits.For deaths on or after the 3 December, surviving spouses will receive an ...
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ArticlePersonal tax allowance to rise to £10,600
The government will increase the income tax personal allowance to £10,600 from April 2015.This is higher than the previous planned increase of £10,500 announced in the Queen’s Speech in June. It means the first £10,600 of an employee’s annual salary will be exempt from income tax. Anna McCaffrey, senior associate ...
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ArticleHigher-rate tax threshold to rise
Autumn Statement 2014: The higher-rate tax threshold will rise to £42,385 from April 2015.The current higher-rate threshold is set at £41,865 per annum.According to Chancellor George Osborne, this will take 138,000 people out of the higher-rate tax band.Lesley Fidler, associate director at Baker Tilly, said: ”In the past, generosity at ...
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ArticleGovernment to go ahead with OTS benefits simplification reforms
Autumn Statement 2014: The government has confirmed that it will go ahead with the Office Of Tax Simplification’s (OTS) recommendations and reform the rules for employee benefits and expenses.It has accepted 51 of the 58 recommendations made by the OTS.The proposals will make the taxation of benefits and expenses more ...
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ArticleChancellor confirms plans to scrap pensions death tax
Autumn Statement 2014: From April 2015, beneficiaries of individuals who die before the age of 75 with remaining uncrystallised or drawdown defined contribution pension funds, or who have a joint life or guaranteed-term annuity, will be able to receive any future payments from these policies tax free.These changes, which will ...
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Case StudiesB&Q keeps reward simple
Simplification has been at the heart of B&Q’s HR strategy over the past year as part of the organisation’s efforts to help staff understand and appreciate the value of their benefits and, ultimately, to boost take-up. The move is aligned with B&Q’s business objective to simplify its pricing model in ...
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Case StudiesThe benefits offered by B&Q
After reviewing the benefits tnat it offers to staff, B&Q offers the following package for its workforce.PensionMoney purchase pension scheme (contributory) available to all staffEmployer contributions range from 2% to 14% and employee contributions range from 1% to over 8%.Health and wellbeingGroup life cover worth four-times salary for pension scheme ...
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ArticleConfessions of a benefits manager: Candid goes after a pay rise
Normally at this time of year, I am running around looking after everyone else, making sure all the budgets add up and having interminable pointless conversations about the forced distribution for merit reviews that we disguise as ‘guidance’.I am still doing all that work, and more, but I am also ...
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ArticleEmployee Benefits Awards categories focus on pensions
‘Best DC pension default investments’, a category introduced in 2013, recognises employers that have made a concerted effort to offer an effective default investment strategy for their DC pension scheme that is appropriate for their workforce.Jobs and Business Glasgow won this award in 2014 for its strategy, which focused on ...
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ArticleAutumn Statement's impact on benefits
Chancellor George Osborne gave his Autumn Statement on 3 December 2014. There were several changes impacting employee benefits.Chancellor confirms plans to scrap pensions death taxGovernment to go ahead with OTS benefits simplification reformsPersonal tax allowance to rise to £10,600Higher-rate tax threshold to riseIsa tax advantages extended to partnersFuel duty to ...
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ArticleIkea to pay €200m performance bonus into pensions
Ikea Group has handed its employees a share of a €200 million (£156.94 million) bonus in to their pension schemes after hitting pre-agreed global sales targets.The €200 million bonus will paid via its loyalty programme, Tack!, which launched in December 2013 to reward employees who have worked with the home ...
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OpinionLovewell's Logic: New thinking needed around pensions?
Figures from the Department for Work and Pensions (DWP) in August, for example, found that almost half of all working age people are failing to save enough.However, Swedish retailer Ikea has come up with a clever approach to boost employees’ pension pots by rewarding performance with additional pensions contributions.This year, ...
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ArticleTop 10 most read stories this week
The top 10 most read stories on employeebenefits.co.uk from 27 November to 4 December:1. Government to simplify auto-enrolment legislation 2. Is benefits benchmarking still relevant? 3. Commuting by trampoline 4. Jaguar Land Rover strikes pay deal with staff 5. Employers should act now to manage holiday pay 6. Government to ...