All Employee Benefits articles in Web Issue – Page 908
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ArticleWilliam Hill to pay all employees the national living wage
William Hill is to pay all of its 12,500 employees at least the national living wage rate of £7.20 an hour.The national living wage, announced by Chancellor George Osborne in the Summer Budget 2015, is mandatory for workers aged 25 and over and will come into effect from April 2016.The ...
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Employer fined more than £10,000 for auto enrolment failings
By Jamie Clark, Business Development ManagerWe take a look at the Pensions Regulator’s latest auto enrolment compliance bulletin and the lessons that can be learned from it.With up to half a million smaller employers expected to reach their staging date during 2016, it’s likely that the Pensions Regulator (and the ...
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Financial Advice Market Review - support for advice
By Fiona Tait, Pension SpecialistRoyal London firmly believes in the value delivered to clients by financial advisers, not just for one-off events but on an ongoing basis.This is a position we continue to hold in our consultation responses and external communications while always questioning whether there are ways in which ...
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ArticleOmbudsman upholds pensions tax complaint against police
The Pensions Ombudsman upheld a complaint against the Police and Crime Commissioner of South Wales over its failure to inform a police officer of the tax implications of re-employment on his retirement benefits.The police officer, Mr Cherry, retired in June 2011 and was re-employed by the Commissioner within one month ...
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The national living wage and salary exchange
Most individuals aged 25 or over on the national minimum wage (NMW) will see their salary increase by 50 pence per hour from 1 April 2016.This article provides more information on how this change affects salary exchange arrangements.Who does this change affect?Individuals aged 25 and over with salary exchange arrangements ...
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Pension savings: Out of the woods?
Last week HM Revenue & Customs published some encouraging figures regarding the levels of pension savings in the UK. For a brief account of this issue please see here.These figures have been interpreted by some as evidence of a newly improved savings culture, and the fact that savings rates have ...
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ArticleMeeting the challenge of the national living wage
Since Chancellor George Osborne announced the creation of a new national living wage in his 2015 Summer Budget, planning how to deal with the associated cost increases has challenged many organisations.When the national living wage comes into effect next month, the minimum hourly wage for employees aged over 25 will ...
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ArticleGain insight into balancing benefits and financial wellbeing at Employee Benefits Connect
Those who attend Employee Benefits Connect 2016 can gain insight into how employee benefits could potentially harm employee’s financial wellbeing, as well as the measures that can be taken to address this, in a session led by Darren Laverty (pictured), partner at Secondsight.During the conference session, Laverty will discuss the ...
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Article67% of generation Z employees view salary as most important aspect of a job
More than two-thirds (67%) of generation Z respondents consider salary to be the most important thing about a job, according to research by leadership development organisation the Forum Corporation.The Forum generation report, which surveyed 250 generation Z employees (those born between 1994 and 2000) and 750 employers, also found that ...
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ArticleRolls-Royce introduces financial education and engagement strategy
Rolls-Royce has implemented a financial education and employee engagement strategy to engage employees with saving for retirement, and switched pension scheme providers.The strategy, which includes financial education presentations and access to an online platform, is designed to help employees take control of their finances.The aerospace power systems manufacturer introduced the ...
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Case StudiesThe benefits offered by Domestic and General
A summary of the workplace benefits offered by Domestic and General:PensionA group personal pension for all employees, with a 3% employer contribution for all staff, and matching or enhanced employer contributions based on seniority.Employer-funded independent financial advice for all employees.Healthcare and wellbeingPrivate medical insurance: employer-paid on a seniority level, with ...
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Case StudiesDomestic and General offers employees a well-rounded benefits proposition
For Domestic and General, a key aim of its benefits proposition is that it is well-rounded enough to support its diverse employee base.Its holistic approach ranges from enhanced pension contributions and free flu jabs for all employees, to long-service awards and even mindfulness colouring books. Kay Mellor, head of HR, ...
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Love your executives
You might think you don’t need to worry about your executives when it comes to employee benefits, but just because they have more responsibility at work and a bigger pay cheque doesn’t mean they don’t need your support.What’s the issue?Your executives might be the ones running your company so you’d ...
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Long-term health conditions: some recommendations for employers
It was just two weeks ago today that Steve Herbert, Head of Benefits Strategy at Jelf was speaking at our latest sell-out London Employment Seminar. One of his themes that day was the UK’s productivity deficit, and the impact of an ageing workforce in the workplace. For coverage of some ...
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Are you ready for Gen Z?
While many organisations are still just beginning to adapt their workplaces for Gen Y, the next generation – Gen Z, born between 1995 and 2010 – has already begun its debut into the working world. Senior Communication Consultant Caitlin Crowley looks at the issue that’s about to hit companies around ...
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Equip your employees
Your employees are the cornerstone of your business; they have the potential to make your company prosper. As an employer it is your duty to equip them with all they need to develop and grow.It’s easy to leave staff to their own devices, however it’s important to support them and ...
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ArticleCBI to discuss data analytics for future benefits strategies at Employee Benefits Connect
Nigel Hopkins, resource director at the Confederation of British Industry (CBI), will outline how data can be utilised to future proof an employee benefits strategy at Employee Benefits Connect 2016 on 9 March.Speaking alongside Dr Eric Tyree, chief data scientist at Capita Employee Benefits, in the session entitled ‘Using data ...
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Article80% of UK organisations lack staff engagement
Some 80% of UK respondents face a lack of employee engagement in their organisation, according to research by Deloitte.However, its Global human capital trends survey, which is based on 7,000 responses from HR and business leaders in 130 countries, including 140 UK employers, found that just over a third (36%) ...
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Article23% have yet to review schemes in light of pension freedoms
Almost a quarter (23%) of respondents have yet to review their pension scheme investment strategy since the pension freedoms were introduced in April 2015, but plan to do so this year, according to research by Willis Towers Watson.Its Pension design survey, which surveyed 160 of the UK’s largest organisations, also ...
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Europe: why persist with value today?
By Rob Burnett, Neptune’s Head of European EquitiesThe Neptune European Opportunities Fund remains committed to a value bias. We see a broadening array of opportunities in diversified industries at compelling valuations today.The most complicated part of the market is the European banks. We are currently overweight in this sub-sector as ...