All Employee Benefits articles in Web Issue – Page 913
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Supplier article
Budget Commentary 2016 – ‘the drift from pensions to ISAs in the workplace’
The Chancellor of the Exchequer, George Osborne, has today delivered this year’s Budget Report.There was much media hype ahead of the annual Budget Report over plans to drastically change the pension tax relief system. The proposals were abandoned after a report from a Government source that ‘now isn’t the right ...
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ArticleScottish further education staff strike over pay
Further education lecturers in Scotland are striking over pay today (17 March).The industrial action follows a ballot among members of the trade union Educational Institute of Scotland (EIS) and Further Education Lecturers’ Association (Fela). Of the 61% of members who turned out for the ballot, 88% voted in favour of ...
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ArticleHow the Budget 2016 will impact employee benefits
On 16 March, Chancellor George Osborne delivered his Budget 2016 speech. Below is a round-up of the key announcements with a bearing on employee benefits:The government plans to limit the range of benefits that can be offered under a salary sacrifice arrangement. This will not apply to pensions, childcare and ...
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ArticleUK Supreme Court rules on UBS and Deutsche Bank bonus cases
The Supreme Court has ruled in favour of HM Revenue and Customs (HMRC) in a case examining the tax that should be paid on bankers’ bonuses.In the cases of UBS AG v Commissioners for HMRC and DB Group Services v Commissioners for HMRC, the banks awarded discretionary bonuses to employees ...
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Supplier article
Increase in employers enquiring about imminent changes to pensions tax rules
The imminent changes to pensions tax rules for the Annual Allowance and the Lifetime Allowance has led to a significant increase in enquiries from employers on how this is going to affect their employees, says Jelf Employee Benefits. While the latest thinking is that there may not be any further ...
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Supplier article
BHSF welcomes non-executive director
BHSF Group Limited, the Birmingham-based not-for-profit healthcare insurer and employee benefits provider, has announced the appointment of Gary Cowdrill, Managing Director of Solihull-based Board Evaluation Limited, as a non-executive director.A Chartered accountant and former Group Finance Director of the West Bromwich Building Society, Gary has had wide experience in the ...
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Supplier article
Budget 2016: The sweet (not sugary) taste of stability?
When the Treasury stated it would not be making wholesale changes to the taxation of pension schemes in the run up to this year’s Budget, this was warmly welcomed, but also prompted speculation on what the Chancellor would do instead.The good news is that for an industry all too used ...
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Supplier article
2016 March Budget (1): Lifetime ISA announced
The Chancellor has now given his 2016 Budget speech – and once again there appears to be a major surprise for employee benefits and workplace savings.The supporting Budget document includes the following: “Launching a new flexible Lifetime ISA for under 40s in which people can save up to £4,000 each ...
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Supplier article
2016 March Budget (2): Increase to IPT
In the Budget speech the Chancellor confirmed that there will be a further increase to Insurance Premium Tax (IPT). IPT will increase from 9.5% to 10%.This has implications for many personal and corporate insurances, and from an employee benefits perspective particularly for healthcare insurances.Many will recall that IPT increased significantly ...
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Supplier article
2016 March Budget (3): Salary Sacrifice
Although not specifically mentioned in the Chancellors Budget speech, the supporting document does include this text:“Salary sacrifice arrangements enable employees to give up salary in return for benefits-in-kind that are often subject to more favourable tax treatment than salary. The government wants to encourage employers to offer certain benefits but ...
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Supplier article
2016 March Budget (4): Childcare
There was another item of importance to Employee Benefit provision tucked away in the Budget 2016 document, and it relates to the long-running theme of Childcare Vouchers and their proposed replacement Tax Free Childcare.The document text of importance here is this:“From early 2017, the government is introducing Tax-Free Childcare to ...
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ArticleTop 10 most read stories this week
The top 10 most read stories on www.employeebenefits.co.uk between 10 and 16 March 2016: EAT reverses ET decision on childcare vouchers.Government confirms plans to limit salary sacrifice.Employer contributions to public sector pensions to increase.Employee Benefits Connect 2016 speaker slides.National minimum wage to rise to £6.95.Tax-free childcare to be phased in ...
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ArticleJapanese government body seeks modern-day ninjas
Something for the weekend: Do you have stealth-like moves, a way with people and a talent for acrobatics? If you do, then you might make the cut as a modern-day ninja.The local government body in the Aichi Prefecture in Japan is recruiting six ninjas to help promote tourism in the ...
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Article62% of under-25s would be more loyal to employer if paid national living wage
Almost two-thirds (62%) of respondents aged 16-24 would be more loyal to their employer if they were to receive the new national living wage rate, which is only statutory for employees aged 25 and over, according to research by workforce management firm Kronos.Its survey of 2,020 employees over the age ...
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ArticlePorsche awards €8,911 bonus to staff
Porsche AG is awarding employees a €8,911 (£6,952) bonus in recognition of their role in helping the organisation achieve positive results for 2015.The bonus will be paid to around 15,600 members of staff who are employed under the firm’s collective pay agreement.The 2015 bonus will be adapted according to employees’ ...
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ArticleAdmiral CEO gifts £1,000 to employees
Henry Engelhardt, chief executive officer (CEO) at Admiral, and his wife, Diane Engelhardt, are personally gifting between £500 and £1,000 to each member of the organisation's 8,300-strong global workforce.Engelhardt, who is retiring in May, is offering the gift as a gesture of thanks for employees’ hard work during his 25-year ...
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ArticleConfessions of a benefits manager: Staying silent for international rescue
There is a perception that if you get sent on international assignment it is akin to winning the lottery. Our expatriates seem to expect penthouse apartments and limousines wherever they go. They want to double their salary and have the pick of the best benefits from either country as recompense ...
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Supplier article
Childcare Vouchers EAT decision
As we have stated many times on this blog, the cost of childcare is a major barrier to work for many parents. And this in turn has implications for employers also. For more on these assertions please see this post.Given the above, it is really important that employers do all ...
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Supplier article
BHSF appoints senior medical advisor
Occupational health provider, BHSF OH, has consolidated its recent growth with the appointment of senior medical advisor, Dr Sumra Dar, who completes the firm’s eight-strong senior management team.This latest announcement follows a breakthrough year for BHSF OH, during which the provider has achieved nationwide coverage through a series of strategic ...
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Article42% of under-25s are not rewarded by their employer
More than two-fifths (42%) of employee respondents aged 18-24 did not receive a reward from their employer in 2015, according to research by Red Letter Days for Business.Its The rewards report, which surveyed 2,006 British employees, also found that almost half (48%) of respondents aged 55 and over did not ...