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administrationMATTERS – October 2009 | |
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Welcome to the Capita Share Plan Services newsletter. Keeping you up to date on industry matters throughout the year. Click here to view the administrationMATTERS in a printable format Following on from the positive trend of the past few months, we believe that the months ahead look very encouraging due to the implementation of new clients' plans and some reliable enquiries from companies that have a firm intention of switching over to Capita in early 2010. The popularity of SIP and Sharesave is steadily gaining more interest and, in the last edition of administrationMATTERS, I advised that there was a trend for increased contributions; this has continued with saving amounts increasing by an average of 11% per SIP and 8% per Sharesave plan. The average Sharesave contribution would be even higher except for the fact that lower option prices have meant significant pressure on company headroom limits leading to the scaling down of some Sharesave plans; clearly, employees are closing 'underwater' share Sharesave options in favour of lower priced options. As prices rise, I expect that this trend will settle and employees will balance their contributions again, with the impact, possibly this year or next, being a low rise in contribution levels as many employees will already be saving at a significant level. Corporate actions are at a peak at the moment and we have seen a considerable amount of activity this year, more so than previous years, mostly right issues but also takeovers, share splits, mergers and consolidations. Employers need to engage with their administrator as early as possible in any event timetable, as often one of the most complex group of shareholders are the employees holding shares or options in a selection of different plans. I would like to thank Herbert Smith and Capita Tracing Solutions who have supplied articles for this edition of administrationMatters. The Herbert Smith article is particularly interesting with companies looking to restructure their plans following changes in taxation from April 2010. For this edition, we have asked Capita Tracing Solutions to contribute an article focussing on pensions which, although not directly concerning share plans, we still feel is particularly relevant as pensions and share plans often share the same audience and the team have some real examples of saving companies significant funds in an environment that is constantly looking to reduce costs. Thank you and I hope that you enjoy our October edition of administrationMATTERS.
David Kilmartin |
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Achieving Service ExcellenceManaging relationships through service excellence... |
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HealthcheckAssisting you in saving costs and helping you meet your business objectives... |
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Clients trends and patternsAll businesses are keeping an eye on costs, and employee benefits are no exception... |
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Carry on ScreeningThe importance of regular mortality screening... |
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2010 tax changes: A share schemes shelter?From April 2010 income tax rises from 40% to 50% for those with income over £150,000... |
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Capita Share Plan Services (“CSPS”) is a trading name of Capita IRG Trustees Limited (“CIRGT”), which is authorised and regulated by the Financial Services Authority http://www.fsa.gov.uk/register (register number 184113). The registered office of CIRGT is The Registry, 34 Beckenham Road, Beckenham, Kent, BR3 4TU, United Kingdom. Registered in England Number 2729260. |
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