All Employee Benefits articles in Web Issue – Page 977
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ArticlePackaging workers to strike over pay
Corrugated packaging employees are to take industrial action in a dispute over pay.Staff based at packaging factories operated by DS Smith, Saica and Smurfit Kappa have voted to reject a proposed 2% pay rise. Industrial action was approved by members via a ballot vote.Around 2,500 members of the GMB and ...
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ArticleG4S staff to strike over pay dispute
G4S Patient Transport employees began a three-day strike today (Tuesday 22 November 2016) in an ongoing dispute over pay and conditions.The employees, who are members of the GMB union based at St George’s Hospital in Tooting, London, will strike until Thursday 24 November 2016, over their pay and conditions.The three-day ...
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ArticleKeep up to date with the Autumn Statement 2016
Chancellor Philip Hammond will deliver his Autumn Statement 2016 speech from 12.30pm today (23 November 2016).Stay tuned to the Employee Benefits website for all the latest updates on how the Autumn Statement could impact employers and staff, with potential changes around salary sacrifice arrangements, pensions, and the national living wage.Follow ...
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Article22% see an increase in the use of employee assistance programmes
More than a fifth (22%) of HR manager respondents report an increase in the use of employee assistance programmes (EAPs) by employees, according to research by Lancaster University's The Work Foundation and the UK Employee Assistance Professionals Association (UK EAPA).The evolution of employee assistance: investigating the use, impact and reach ...
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ArticleNokia and Rio Tinto are recognised for employee share schemes
Henderson Global Investors, Nokia, and Rio Tinto were among the organisations recognised for best practice in employee share schemes at the Esop Centre's Employee Share Ownership Awards 2016 on Tuesday 22 November 2016.Nokia won the award for best international all-employee share plan for its share scheme that operates across 46 ...
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ArticleGender pay gap in high-tech sector is 25%
There is a 25% gender pay gap in the UK’s high-tech sector, according to research by Mercer.Its study, which is based on an analysis of 66,000 employees across 153 organisations using data from its Comptryx database, also found that small organisations within the high-tech sector have the largest gender pay ...
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ArticleTax-free personal allowance to rise in line with inflation
Autumn Statement 2016: From 2020, the tax-free personal allowance will rise in line with the Consumer Price Index rather than the national minimum wage.During his Autumn Statement speech, Chancellor Philip Hammond confirmed that the tax-free personal allowance will increase to £11,500 in April 2017 and £12,500 by the end of ...
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ArticleNational living wage to rise to £7.50
Autumn statement 2016: Chancellor Philip Hammond has announced that the national living wage will increase to £7.50 an hour from April 2017.The national living wage will increase by 4.2%, taking the current minimum level of pay for individuals aged 25 and over from £7.20 an hour to £7.50 an hour.Other ...
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ArticleGovernment to reduce money purchase annual allowance
Autumn Statement 2016: Chancellor Philip Hammond (pictured) has announced that the money purchase annual allowance is set to be reduced to £4,000 from April 2017.The money purchase annual allowance applies to those who have accessed their pension savings through the pension flexibilities and then make further defined contribution (DC) pension ...
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ArticleEmployer and employee national insurance thresholds to be aligned
Autumn Statement 2016: Chancellor Philip Hammond has announced that employer and employee national insurance (NI) thresholds will be aligned from April 2017.This will see both employees and employers start paying NI on weekly earnings above £157. This will simplify the payment of NI for employers.The current thresholds for 2016/17 stand ...
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ArticleGovernment invests in ultra-low emission vehicles and infrastructure
Autumn Statement 2016: Chancellor Philip Hammond has announced that the new National Productivity Investment Fund (NPIF) will invest in ultra-low emission vehicles (ULEVs).In his Autumn Statement speech, Hammond announced an investment of £390 million by 2020-21 in ULEVs, renewable fuels, and connected and autonomous vehicles (CAVs). This includes £80 million ...
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ArticleGovernment to consult on measures to tackle pension cold calling
Autumn Statement 2016: Chancellor Philip Hammond has announced plans to tackle pension cold calling.In his Autumn Statement, Hammond said that the government plans to publish a consultation on options to tackle pension scams including a ban on cold calling in relation to pensions, giving organisations greater powers to block suspicious ...
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Supplier article
Keeping employees financially fit
According to Xerox’s recent Working Well survey, two-thirds of employers see lowered productivity as a direct impact of poor financial wellbeing.There’s a lot of work to be done to ensure employees are financially fit today and retirement ready in the future. Many employers know how important financial wellbeing is, but ...
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ArticleGovernment retains freeze on fuel duty
Autumn Statement 2016: Chancellor Philip Hammond has announced in his Autumn Statement speech that fuel duty will be frozen at 57.95p litre for the seventh consecutive year from April 2017.The continued freeze is estimated to save the average car driver £130 a year and van drivers £350 a year. This ...
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ArticleInsurance premium tax to rise to 12%
Autumn Statement 2016: The standard rate of insurance premium tax (IPT) is to increase to 12% from 10% from June 2017.The rise was announced by Chancellor Philip Hammond in his Autumn Statement speech today (23 November).This increase is designed to raise revenue to help fund the commitments made by Hammond ...
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ArticleGovernment to introduce new company car tax bands for low-emission vehicles
Autumn Statement 2016: The government is to introduce new, lower bands of company car tax for the lowest-emitting cars.The announcement was made as part of today's (23 November 2016) Autumn Statement, with details of the new bands and rates set to be announced in the Finance Bill in December 2016.The ...
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ArticleGovernment to abolish employee shareholder status tax advantages
Autumn Statement 2016: The tax advantages awarded under employee shareholder status (ESS) will be abolished from December 2016.The tax advantages that are linked to ESS-provided shares will be abolished for arrangements entered into on, or after, 1 December 2016, with the status itself being closed to new arrangements at the ...
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ArticleGovernment to review how benefits in kind are valued
Autumn Statement 2016: The government has announced it is to consider how benefits in kind are valued for tax purposes.According to the supporting documentation to the Autumn Statement, which was announced by Chancellor Philip Hammond today (23 November), this will include a call for evidence on the valuation of benefits ...
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ArticleGovernment limits tax-efficient salary sacrifice arrangements
Autumn Statement 2016: From April 2017, the government will significantly limit the range of benefits that attract tax and employer national insurance (NI) advantages when offered through a salary sacrifice arrangement.Pensions and pensions advice, childcare, bikes-for-work schemes, and ultra-low emission vehicles (ULEVs) will be exempt from the changes.Arrangements in place ...
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ArticleHow can an organisation streamline the costs of a global benefits strategy?
Need to know:Multinational pools and captives can streamline insurance processes and lead to a reduction in benefits spend.Employers can utilise their scale and size to help drive efficiencies in purchasing larger contracts across numerous locations for a discounted price, rather than smaller, individual contracts.A global consultancy or broker will have ...