The latest figures from the Department for Work and Pensions illustrate that sickness absence is still a major cost to businesses, with an annual bill for sick pay and associated costs to employers of £9bn. This paper from Jelf Employee Benefits looks at the importance of recording sickness absence for any employee health strategy and how this can be carried out in an efficient manner to reduce absence, improve employee engagement and drive up profits.
The United Nations is calling on pension funds to cut investments in oil companies and other fossil fuel businesses in a bid to tackle climate change. Speaking at a climate change summit in Copenhagen yesterday, UN secretary-general Ban Ki-moon said big investors such as insurers and pension funds should cut their investments in fossil fuels […]
The Investment Management Association faces calls to create a risk-targeted fund sector amid concerns a market crash could create a “lost generation” of investors. The IMA points to a rise in the number of outcome-focused funds in recent years. “As part of our regular review process, we are looking at how these funds are accommodated […]
Troubled supermarket giant Tesco is considering the sale of part of its banking arm in a stockmarket listing worth up to £1bn. The Telegraph reports estimates from HSBC analysts that put the cost of turning the company around at up to £3bn, with the partial sale of Tesco Bank shares seen as an attractive option. Alternative […]
Transact and Ageas Protect have teamed up to launch an investment-linked term assurance product. The ‘integrated protection: term life insurance’ product aims to cover a shortfall in a client’s assets upon death, and links the sum assured to the assets held on the platform. The pilot launch gives 30 firms access to the product via […]
Work and pensions select committee member and Labour MP Ruth George has called for the parliamentary pension scheme to divest from fossil fuels. The MP for High Peak put her name to the Divest Parliament pledge which is a cross-party campaign to clean up the investments in politicians’ pension schemes. MPs are automatically enrolled in […]
It was announced in last year’s Autumn Budget that, from April 2019, tax will be charged on gains made by non-UK residents on the disposal of all types of UK immovable property. At the time of the announcement, HM Revenue & Customs also produced a technical note setting out the scope of the new charge […]
O&M Pension Solutions has changed its systems ahead of an October deadline to help advisers meet new regulations around transfer value analysis reports. From 1 October, the FCA’s new rules mean transfer value analysis reports will be replaced by a combination of a “transfer value comparator” and an “appropriate pension transfer analysis” The transfer value comparator is […]