Monthly Archives February 2016

Half of SMEs not ready as auto-enrolment deadlines loom

Half of SMEs not ready as auto-enrolment deadlines loom Nearly half of employers required to set up a pension scheme for their staff in the next two years remain in the dark about their responsibilities, according to a survey. More than a million small businesses will need to ensure employees are in a workplace pension scheme, under the government’s auto-enrolment plan. The deadlines for conforming to the rules pick up rapidly this month. But the survey by the Federation of Small Businesses (FSB) found that 45% of those asked were confused about the rules and their responsibilities, according to the
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Categories: News.

Britains performance management not fit for purpose

Britain’s performance management not fit for purpose Latest research from global professional services company Towers Watson suggests just 36% of companies in the UK consider their performance management process to be effective. In addition, one in three managers and employees are shown to be dissatisfied with their performance-management process, according to The EMEA performance management survey. It found that 87% of companies surveyed said performance management is their primary method for aligning individual performance objectives with strategic business priorities yet 45% say managers don’t see the value in it and 53% say managers don’t have the time to do it well.  Radha
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Categories: News.

Using Childcare Vouchers in February half term

Using Childcare Vouchers in February half term February half term is just around the corner, unless you live in Bristol or Sheffield – in which case, it’s here already! It may not seem like a long time since your children have returned to school, but the half term break has crept upon us and you may be wondering how to organise more affordable childcare arrangements. Childcare can be expensive, particularly during busy half term periods, but remember the a Childcare Voucher scheme can help cut the costs significantly. Childcare Vouchers are not just for use in nurseries, they can help
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Categories: News.

Employers of carers remain unaware of their pension contribution obligations

Employers of carers remain unaware of their pension contribution obligations Failure to comply for anyone with over four carers will lead to a daily £500 fine Vulnerable clients who directly employ carers are being reminded that they have an obligation under the pension auto-enrolment scheme to set up and pay into a pension for their carer. Failure to follow the rules could lead to a £400 fine, and continued failure to comply will result in a daily fine of £50 for anyone employing between one and four people. The staging date for companies with 30 employees or fewer commenced on
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Categories: News.

Are you sitting on a Pensions Auto Enrolment compliance time bomb?

Are you sitting on a Pensions Auto Enrolment compliance time bomb? 77% of SMEs aren’t prepared for Auto Enrolment – are you?  Whether you’ve received notification of your Staging Date from The Pensions Regulator or not, you need to be planning now.  Auto Enrolment isn’t just about having a pension scheme in place – there’s data collection, as well as on-going assessment and communication requirements to comply with.  Your systems and internal processes also need to be in place to ensure you stage when you should. We understand that complying with Pensions Auto Enrolment can be a daunting prospect for
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Categories: News.

92% of employers say pensions attract and motivate staff

92% of employers say pensions attract and motivate staff Some 92% of employers believe that workplace pensions attract, retain and motivate workers, according to research by the Confederation of British Industry (CBI) and Mercer. The report, A view from the top: CBI/Mercer pensions survey 2015, which surveyed 166 organisations, also found that 96% of respondents believe that there is a strong business case for providing a workplace pension. The research also found: 64% of respondents say employees generally make the right decisions when it comes to their pensions, while 36% disagree. 52% of respondents want regulatory stability around pensions to
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Categories: News.

Workplace pensions ‘the safest way to save’ for retirement

Workplace pensions ‘the safest way to save’ for retirement Paying into an employer pension scheme is considered the safest way to invest for retirement, according to preliminary results of a survey published in November. The Office for National Statistics (ONS), who carried out the survey, said between July 2014 to June 2015, 41% of people considered this option as the safest method for retirement.  The survey, which polled around 10,000 members of households in Great Britain, also reported investing in property was considered the second safest method, as cited by 28% of respondents. Stocks and shares were considered the least
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Categories: News.