All Employee Benefits articles in Web Issue – Page 797
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ArticleJohn Lewis Partnership faces £12m holiday pay cost
John Lewis Partnership faces a £12 million annual cost for additional holiday pay as a result of efforts to comply with an Employment Appeal Tribunal ruling on 4 November 2014 that changed the way that UK legislation is applied in relation to holiday pay.The sum includes pension, bonus and national ...
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Supplier article
A downhill stroll?
The landscape for retirement is undergoing a seismic shift at present. The abolition of the default retirement age and the new freedom of pensions legislation are both indicative of a culture that may start to view the decision to retire in a rather different light. Until very recently, many employees ...
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Supplier article
Family pressures (and the impact on pension savings)
The report focuses on the changing shape and expectations of the UK family unit. Perhaps the principal change is that people are living longer, and therefore their retirement savings need to go further (quite a lot further in fact, as male life expectancy has increased by an entire decade since ...
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AnalysisWill the market be ready for the 2015 pension reforms?
If you read nothing else, read this…Pension providers are mulling the creation of new products to help staff access their pension savings.Eligible employees might have to wait up to two weeks to access their pension savings from April 2015.Employers, trustees and providers are now waiting for the reforms to receive ...
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ArticleFTSE 100 DB pension deficit declines
The total deficit in FTSE 100 pension scheme has declined by £14 billion to £66 billion in the last year, while liabilities have increased by £44 billion to £591 billion, according to research by JLT Employee Benefits (JLT).The research also found that the number of FTSE 100 organisations that incur ...
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ArticleAsons Solicitors introduces flu vaccinations for staff
Law firm Asons Solicitors has introduced workplace flu vaccinations for all staff. They were one of a range of new benefits and engagement tools introduced to the Greater Manchester-based organisation’s workforce, based on suggestions from its Think big idea-generating programme and charity and creative committees. These include: A ‘Monday Motivation’ ...
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ArticleEmployee Benefits Connect 2015 to share expert insights
The event, to be held at Lancaster London on 4 March 2015, offers the ideal opportunity for HR, benefits and global reward managers to gain valuable insights and updates on the latest industry innovations and to meet leading benefits providers.This highly popular one-day event focuses on enabling benefits professionals to ...
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Supplier article
Guide: how to... communicate with your pension members
Click on the link below to download the guideLinksClick here to download the guide
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OpinionJonathan Watts-Lay: Three steps to greater pension flexibility
The 2014 Budget changed the face of retirement options for members of defined contribution (DC) pension schemes, with perhaps the most radical pension proposals of our lifetime.The changes will come into force from April 2015, removing many restrictions on how pension benefits can be taken from age 55.But as April ...
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Supplier article
Smoking and the workplace
In the past decade, the popularity of e-cigarettes has risen sharply, especially since the workplace smoking ban came into effect in 2007. However, their prevalence can leave employers with some tricky questions. Although the legal position seems clear — according to Siobhan Atkin at law firm Shoosmiths, ‘while using e-cigarettes ...
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ArticleTennants Consolidated reviews pensions administration
Tennants Consolidated has reviewed its pensions administration to boost the value of services for its members of its defined benefit (DB) and defined contribution (DC) pension schemes. The chemicals distribution and wholesale organisation’s pension schemes has more than 1,200 members and approximately £130 million of assets.The Tennants Pension Trustees wanted ...
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ArticleYorkshire Water to pay living wage
Yorkshire Water has been accredited as a living wage employer.The water supply and treatment utility organisation, together with its parent company Kelda Group, have committed to pay the UK living wage of £7.85 to employees, including third-party contractors, rather than the national minimum wage of £6.50 an hour.Richard Flint, chief ...
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AnalysisRevamping a motivation strategy for the year ahead
If you read nothing else, read this…Recognition, career progression and flexibility are all highly valued by today’s employees.Empowering staff to succeed in their work while retaining a work-life balance is also gaining prominence.Some employers are looking to use new pensions rules to motivate and retain staff.Jackie Waller, principal reward consultant ...
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ArticleTotal pay increases by 1.7% year on year
Total pay for UK employees is 1.7% higher than it was a year ago, according to research by the Office for National Statistics (ONS).Looking at statistics for September to November 2014 Its UK Labour market, January 2015 report found that regular pay was also 1.8% higher than a year earlier.According ...
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Article76% of employers notice pensions auto-enrolment admin burden
More than three-quarters (76%) of staged employers are now noticing an administrative burden caused by the impact of pensions auto-enrolment, according to research by Close Brothers Asset Management. Its latest Business barometer survey, which surveyed more than 400 UK employers, found that this is an increase of 7% since September ...
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ArticleCo-Operative Food rewards staff for saving energy
EXCLUSIVE: Co-Operative Food stores has run a campaign to incentivise employees to help improve the organisation’s green credentials and boost staff motivation.Staff at its 2,800 food stores competed in a challenge, run by reward and incentive provider Red Letter Days for Business, to reduce the organisation’s energy bill through good ...
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ArticleTop 10 most read stories this week
The top 10 most read stories on employeebenefits.co.uk from 15-22 January 2015:1. What will be hot in flex in 2015? 2. The desk staff can use in bed 3. H&M, Welcome Break and Kings Group fail to pay minimum wage 4. Penguin Random House boosts flex perks 5. Friends Life ...
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OpinionLovewell's Logic: Should we be tackling UK's pay gap?
In its annual report, investment bank Goldman Sachs revealed that it paid its bankers an average of $373,265 (approximately £245,500) in 2014.In total, the bank set aside $12.69 billion (around £8.35 billion) to pay 34,000 employees’ compensation and benefits packages, which include salaries, discretionary compensation, equity awards and benefits.Statistics from ...
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ArticleMPs treated to gym upgrade
Something for the weekend… While the government and its Members of Parliament (MPs) are committed to a number of austerity cuts, changes to pension schemes and the move away from childcare vouchers, everyone might wonder just how they stay healthy, fit and stress free.It seems that the best way of ...