View more on these topics

Company sick pay – new findings

Research by insurer LV= suggests that some 11 million employees in the UK have no company-paid sick leave entitlement. So if an employee from within the above grouping cannot work through illness or injury for any period of time, their only income would likely be that provided by state benefits alone.

The insurer rightly points to the self-employed and those on zero-hours contracts as the grouping most exposed to this issue. Yet that overlooks that many employers – often established businesses with sizable workforces – offer nominal or no sick pay cover to their employees. And many more have a sick pay policy that is outdated and probably not fit for purpose.

The bottom line is that this is an issue that far too few employees fully understand. The reality is that state benefits are not always easy to claim, sometimes delayed and capped at a fairly low level. For an idea of the risks of such an absence occurring – and the impact on the family income level – please read our post from last year.

It is also worth highlighting that employees generally expect at least some support from their employers in such situations. It is therefore good for both engagement and retention if that support is provided, promoted and fully understood by the workforce.

We would therefore encourage employers of all sizes to review their sick-pay policies to find a solution that provides some reassurance to their employees. For those wishing to review their sick-pay options, please contact your usual Jelf consultant.



Labour MP tells Parliament financial services must reform

A former Aviva public policy manager has used her maiden speech in Parliament to call for tougher regulation of financial services. Louise Haigh, who was elected as the Labour MP for Sheffield Heeley last month, said yesterday the attitudes of the City remain unchanged following the recession, and called for further political intervention. “The culture […]

Schroders adds five to global multi-sector team

Schroders has added five people to its fixed income global multi-sector team, in both London and New York. The asset manager has hired Paul Grainger as senior portfolio manager, coming from Wellington Management. He will join the London office, having spent 18 years in the industry, previously being associate partner and fixed income portfolio manager at Wellington. […]

Former Lib Dem leader Charles Kennedy dies

Former Liberal Democrat leader and MP of 32 years Charles Kennedy has died at his home at the age of 55. No cause of death has been announced, but police said it was not suspicious, the BBC reports. Kennedy became the youngest MP in the country when he was elected to the Ross, Cromarty and […]


Tax freeze puts CGT and pensions in the firing line

Experts believe changes to capital gains tax and pensions tax relief look increasingly likely after the Government committed to a five-year “tax lock” on income tax, VAT and national insurance. In the Queen’s Speech last wmonth, the Government committed to its pre-election pledge not to increase the taxes during the term of the parliament. The […]

Health - thumbnail

Absence management systems gone AWOL from UK’s SMEs, reports Jelf

A quarter (23 per cent)* of the UK’s small to medium-sized enterprises (SMEs) do not have an absence management system in place, according to new research from Jelf Employee Benefits. Despite 69 per cent* of organisations having a system in place, three-quarters (75 per cent) report that it is not providing them with sufficiently empowering absence or health data to inform an effective wellbeing programme.


News and expert analysis straight to your inbox

Sign up


    Leave a comment


    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm