Employee Benefits

AUGUST 24, 2023

For employers, setting up an auto-enrolment pension plan for your staff is a must. This guide will delve into the intricacies of auto-enrolment pensions and how to effectively manage them. Understanding Auto Enrolment At its core, auto enrolment means establishing a pension system by the employer for the benefit of their employees.

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Employee Benefits

JANUARY 28, 2022

The UK’s occupational defined contribution (DC) pension market has consolidated by nearly 40% in a decade, data has shown. The Pensions Regulator’s (TPR) 12th annual DC trust report revealed that there were 27,700 DC schemes in December 2021 down from 45,150 in 2011. It also showed a 2% drop in the number of schemes in the last year.

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Employee Benefits

MARCH 29, 2023

Next January, all going well, approximately 750,000 workers in Ireland will start being automatically enrolled into a new workplace pension scheme that will be co-funded by their employers and the State. The scheme is aimed at addressing the national pension coverage gap. It’s not as if we haven’t talked about it.

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HR Digest

SEPTEMBER 3, 2021

Public pension systems, funded by state and local government, deterred massive losses this spring after a historic stock market rally boosted investment earnings. This may come as a surprise that workers kept up with payments into their pension funds last year. Public pension system looks forward to re-engage after huge losses.

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Employee Benefits

DECEMBER 13, 2021

Need to know: Workplace pension regulators are looking at how value for money can be clarified in defined contribution (DC) pension schemes. Ultimately the employer is one of the greatest contributors to delivering value for money from a DC workplace pension. A qualified success. A complex conundrum.

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Employee Benefits

MARCH 22, 2024

Single parents have the lowest average income for both men and women, according to research by workplace pension provider Now: Pensions and the Pensions Policy Institute (PPI). The different working patterns between men and women are the main source of this gap, because they can reduce women’s pensions wealth by 33%.

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Employee Benefits

NOVEMBER 6, 2023

Anne Healey worked as an early years specialist for the council’s schools improvement service since 2012 after a teaching career. An employment tribunal has ruled that Lancashire County Council must pay out more than £800,000 to a teacher who was made to reapply for her job while on sick leave with cancer and then sacked.

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Employee Benefits

JANUARY 2, 2024

Next January, all going well, approximately 750,000 workers in Ireland will start being automatically enrolled into a new workplace pension scheme that will be co-funded by their employers and the State. The scheme is aimed at addressing the national pension coverage gap. It’s not as if we haven’t talked about it.

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Employee Benefits

JULY 6, 2023

As an employer, you’re obliged to provide your staff with a workplace pension – a mandate made compulsory by the UK government in 2012. Unfortunately, a considerable number of employees adopt a ‘set and forget’ approach once they’re enrolled in a pension scheme.

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Workplace Insight

MAY 16, 2024

Willmott Dixon also announced recently that it has won the job to build the £60m Greenheys development at Manchester Science Park for Bruntwood SciTech, a joint venture between Bruntwood, Legal & General and the Greater Manchester Pension Fund. However, the northern section, encompassing MIX Manchester, encountered difficulties.

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Employee Benefits

AUGUST 27, 2024

Deductions could include tax, pensions, or Student Finance Repayments which are explained below. These payments will help build an entitlement to certain benefits including the State Pension and Maternity Allowance in the future. Get to grips with Tax – Income Tax is charged on most types of income including a salary.

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Employee Benefits

JANUARY 5, 2022

More people should be automatically enrolled in workplace pensions , scrapping the age and earnings thresholds that have existed since auto-enrolment began to be phased in a decade ago. Since auto-enrolment was introduced in 2012, the proportion of employees in workplace pension schemes has risen from 47% to nearly 78% in 2020.

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Proskauer's Employee Benefits & Executive Compensa

JANUARY 31, 2023

One of the many changes is an end to the annual indexing of the PBGC’s variable rate premium for single-employer pension plans, which is the portion of the single-employer plan premium that is based on a plan’s unfunded vested benefits (as determined using the PBGC’s premium funding rules). As previously discussed , the SECURE 2.0

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cipHR

NOVEMBER 15, 2021

For the 2021/22 tax year (and through to 2025/26), the tax code for most people under 65 who only have one job or pension is 1257L. HMRC stores a history of everyone’s National Insurance contributions (NICs), which builds up entitlement to a basic state pension, under their NI number (which is unique to them). Pension payments.

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cipHR

APRIL 4, 2019

. “The concept of nudging, applied in an ethical, sustainable and scalable way, represents one of the largest untapped opportunities in HR management” Think back to when employees had to sign up to the company pension scheme. But it left these employees with only the state pension waiting in retirement. million by 2016.

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PeopleStrategy

OCTOBER 3, 2023

Generation Z (born 1997-2012) often seeks opportunities for skill development, mentorship, and meaningful work. Retirement Plans: Offer various retirement planning options, including 401(k)s, IRAs, and pension plans. Millennials (born 1981-1996) typically value work-life balance, professional growth, and wellness programs.

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cipHR

MARCH 26, 2019

We started using them in 2012 to give us more flexibility in our employment contracts. In the last few years, businesses in the retail and hospitality sectors in particular – which operate on very low margins – have seen massive increases in labour costs due to NMW rises and increased rates for pension schemes.

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Business Management Daily

AUGUST 9, 2019

Only 11% of private-sector workers participate in a traditional defined-benefit pension plan, according to new data from the Employee Benefit Research Institute. California’s Secure Choice Retirement Savings Trust Act, called CalSavers, went on the books in 2012. California Secure Choice Retirement Savings Program , No.

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