Employee Benefits

UK - The sharpest differential between UK employers offering DB schemes for existing and new employees is in the manufacturing and production sector, according to a new report from the Chartered Institute of Personnel and Development.

UK - Communication is crucial to help staff appreciate the value of a pension scheme, reports the UK's Chartered Institute of Personnel and Development.

UK - The government's tax exemptions for companies that pay for employees to receive independent financial advice have been dismissed as a "sham".

UK - Mercer Human Resource Consulting is concerned that the government's new tax exemption on pension advice and information masks a wider push to require all employers to contribute to pensions via the back door.

EUROPE - Almost two thirds of European companies support a new international accounting standard, which demands that corporates expense employee share options in their financial statements, according to poll by Mercer Human Resource Consulting.

AUSTRALIA - By making personal contributions of 3% of annual salary, Australians can lift their living standards in retirement by an average of 27% - but it will cost them a 4 to 6% drop in their pre-retirement standards.

UK - Medical supplies firm Smith & Nephew is offering staff health insurance and the chance to purchase extra holidays as part of a new flexible benefits package.

UK - Mercer Human Resource Consulting is considering plans to launch a bundled defined contribution service in the UK, industry sources say.

UK - The majority of UK companies that have closed final salary pensions to new entrants have now also closed them to senior executives, according to new research.

UK - Mobile communications giant 02 is giving employees a voluntary benefits package with discounts of up to 70% on goods and services.