Employee Benefits

APRIL 10, 2023

Need to know: Increasing education about pensions is key to helping employees make the right decisions about accessing their pension savings early. The ability to access pension funds early could prompt changes to the way that pension providers invest for their members.

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Employee Benefits

JANUARY 31, 2024

Pensions law firm Sacker and Partners has become a living pension employer. Employers commit to either a percentage or cash target, equivalent to 12% of salary for a full-time employee earning a living wage salary or £2,800. The employer pays in at least 7%, or £1,630.

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Employee Benefits

MAY 9, 2024

The employees have stated that they have asked for an increase to pilot and technical crew salaries and allowances in line with the rate of inflation backdated to 1 April 2023, as well as an increase to the employer’s pension contribution rate.

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Employee Benefits

MAY 22, 2024

Scottish energy multinational SSE was one of the first employers to become accredited by the living pension scheme in 2023. The Living Pension savings target is 12% of a full-time living Wage worker’s salary, of which the employer pays at least 7%. That gets people’s cogs ticking over,” says Thomson. Honesty is key.

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Employee Benefits

NOVEMBER 10, 2023

Credit: Alasdair Jones / Shutterstock.com Scottish energy firm SSE has been accredited as a living pension employer to provide financial stability and security. The living pension savings target is 12% of a full-time employee earning a living wage salary , of which the employer pays in at least 7%.

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Employee Benefits

NOVEMBER 16, 2022

The support will not change other pay-related benefits , such as pension contributions. David Thomas, chief executive officer of the Leicestershire-based firm, told staff in a letter on 15 November that they will receive the hand-out in equal instalments over the first six months of 2023.

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Employee Benefits

FEBRUARY 28, 2024

Organisations are more likely to publish information on salary ranges than specific salaries, according to research by professional body the Chartered Institute of Personnel and Development (CIPD). Eight in 10 (80%) increased employees’ base pay in the year to October 2023.

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Employee Benefits

APRIL 3, 2023

Pension and group risk Trust-based defined contribution pension with 12% employer, 3% employee minimum contributions. Life assurance at 10-times salary. Denplan through salary sacrifice. Performance-related pay is paid via a matrix and depending on salary and end of year review rating could add between another 0.5%

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Employee Benefits

MARCH 3, 2022

The Financial Conduct Authority (FCA) is to increase salaries and performance-related pay for its employees. Other salary increases and performance-related pay will result in an overall increase of around £5,500. Other salary increases and performance-related pay will result in an overall increase of around £5,500.

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Employee Benefits

DECEMBER 14, 2022

This looks set to continue into 2023, with employers forced to re-examine what their reward package offers their workforce and how they can improve it. Due to current events such as the cost-of-living crisis, there may be a stronger focus on support in 2023 and some employers will be looking at cost-effective but also more supportive options.

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Employee Benefits

FEBRUARY 6, 2023

Employers are experiencing increasing demand from employees for salary rises because of the pressures on everyday financial wellbeing, such as the ever-rising cost of living , inflation and interest rates. This helps them create positive, long-term changes to their short and long-term financial wellbeing ,” he explains.

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Employee Benefits

JANUARY 22, 2024

We know that times are particularly tough right now, so in 2022 we introduced a £1,600 cost-of-living payment , which increased to £2,000 for all employees in 2023. On top of this, we aim to continue to support employees by offering a subsidised in-house restaurant, childcare allowance, free parking, and free electric vehicle (EV) charging.

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Employee Benefits

SEPTEMBER 22, 2023

The top 10 most-read articles on employeebenefits.co.uk The top 10 most-read articles on employeebenefits.co.uk The top 10 most-read articles on employeebenefits.co.uk

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Employee Benefits

SEPTEMBER 8, 2023

The top 10 most-read articles on employeebenefits.co.uk The top 10 most-read articles on employeebenefits.co.uk

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Pension Salary Insurance Technology 59

cipHR

DECEMBER 20, 2022

From wellbeing to employee experience, diversity, and inclusion, upskilling your workforce, these are set to be the top HR trends in 2023. Read on to discover the seven HR trends that organisations will need to embrace in 2023. In 2023, businesses must focus on employee experience more than ever if they want to be successful.

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Employee Benefits

MAY 10, 2023

Fashion brand Stella McCartney and law firm Herbert Smith Freehills are among those employers on the shortlist for Best pensions strategy at the Employee Benefits Awards 2023. A spokesperson for the university said: “We’re delighted to win, we really didn’t think we stand a chance of winning in a category about pensions.

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Employee Benefits

AUGUST 22, 2023

UK Workplace Pension Regulations: What Every Employer Should Know In the dynamic landscape of finance, grasping the nuances of workplace pension regulations might be daunting. A pension serves as a cornerstone for ensuring comfort and security in retirement. But is every business obliged to offer a pension?

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Employee Benefits

FEBRUARY 15, 2023

The ongoing cost-of-living crisis is a subject on every employer and employee’s minds at the moment, and which looks set to dominate agendas in 2023. Many providers of existing benefits, such as pensions , will have education modules to increase awareness of the financial provisions on offer.

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Employee Benefits

JULY 6, 2023

You’ve got a company pension scheme in place, so what would prompt you to change it? Additionally, shifting to a modern digital pension provider is surprisingly straightforward. Additionally, shifting to a modern digital pension provider is surprisingly straightforward. Is your existing pension provider maximizing your savings?

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Employee Benefits

AUGUST 9, 2023

The rising cost of living is creating more financial stress for female employees than their male counterparts, according to July 2023 research from financial wellbeing platform Mintago, with 48% of females and 31% of males saying they are either very or somewhat stressed.

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Employee Benefits

JANUARY 16, 2023

The current outlook is for the economy to contract even further over the winter, with the UK predicted to be in recession for much of 2023, says Emily Trant, head of impact and inclusion at Wagestream. Employees who have been in receipt of a one-off payment may be asking what they can expect in 2023. Workplace support.

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Best Money Moves

MARCH 11, 2024

Mercer’s 2023 Health and Benefits Strategies report shows that many employees are looking for benefits packages that include parental leave, adoption leave and elder caregiver leave. Costs of common goods and groceries are rising due to different economic factors, making it harder for salaried workers to manage their finances.

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Employee Benefits

JUNE 29, 2023

In addition, airport employees can now increase their pension contributions to 4% and if they do so, their employer will contribute 8%. As of 1 April 2024, staff have the choice to increase their pension contributions to 6%, with the airport contributing 10%.

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Employee Benefits

JANUARY 17, 2024

Mental resilience was a hot topic at the start of 2023, but as the cost-of-living crisis took hold, the focus shifted to employee financial wellbeing and financial resilience. million lost working hours (Money & Pensions Service). Still, education only goes so far, and your employees’ monthly salary has a limit.

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Employee Benefits

SEPTEMBER 16, 2024

Office for National Statistics’ figures show that real average UK earnings fell between 2019 and 2023 and survey after survey has shown the impact of financial pressures. And salary sacrificing eligible benefits can reduce the cost of everything from pension contributions to car leases for colleagues and the business.

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Employee Benefits

FEBRUARY 12, 2024

With insight from its latest Financial Wellbeing Research 2023 [1] in association with Reward & Employee Benefits Association, WEALTH at work reveals some of the key topics set to shape future financial wellbeing strategies. Also, over a third (34%) plan to address pension gaps around gender and ethnicity in the next two years.

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Pension Finance Recruitment Salary 105

Employee Benefits

SEPTEMBER 16, 2024

Credit: Stephen Plaster / Shutterstock.com University College London has announced that it will award non-clinical staff a pay increase in their September salary payment following negotiations between the Universities and Colleges Employers Association (UCEA). of their basic salary. UCL has also increased London allowances by 2.5%

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Employee Benefits

OCTOBER 4, 2023

Employee Benefits Live 2023: Enterprise Rent-A-Car has supported employees during the cost-of-living crisis with a salary increase and conducted a benchmark analysis of its pay and benefits providers. It also offers a bikes-for-work and electric vehicle salary sacrifice scheme which offer tax and national insurance savings. “We

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Employee Benefits

NOVEMBER 29, 2023

The revised pay deal, secured by trade union Unite, will increase basic salaries by 8% and will be backdated to 1 June 2023. The deal also fully converts a fixed-contract payment worth around 5% into basic salary going forward. It was accepted by 77% of Unite’s drillers.

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Employee Benefits

JULY 31, 2024

Total reward statements are personalised communications that show employees the total value of their compensation package beyond just salary. Credit: Pickadook/Shutterstock What are total reward statements? Who are the main providers and what types of schemes do they offer?

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Employee Benefits

APRIL 11, 2023

Staff can access total reward statements, which include details about salary, discounts, insurances and annual leave, as well as receiving a flexible benefits spending account so they can enrol in new benefits whenever they want.

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Employee Benefits

AUGUST 27, 2024

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

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Employee Benefits

JULY 24, 2023

Cartwright, the pension specialist for defined benefit and hybrid schemes, has given each of its employees a one-off cost-of-living payment of up to £2,000. It is in addition to their salary , profit share and other performance-related bonuses. Therefore, it’s vital we continue to support our colleagues if and where we can.”

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Employee Benefits

DECEMBER 2, 2022

75% of HR professionals see mental wellbeing as key focus for 2023. Forget Me Not introduces salary sacrifice pension scheme. Harrods security guards strike in pay dispute. 47% of businesses plan bonuses for Christmas 2022. Scotrail implements minimum 7% pay increase. Intravelr introduces in-house happiness committee.

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Parental Leave Pension Bonuses Salary 52

LACE Partners

JANUARY 9, 2023

In Spring 2023, the government will launch a campaign to encourage the 630,000 people who left the workforce between 2019 and 2022, to return to work to help the UK fight off a recession. Very few people have a fully (or even partial) salary pension awaiting them at 55 years old. Over-50’s encouraged to end early retirement.

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Employee Benefits

MARCH 7, 2024

The bakery chain also implemented an 8% overall wage and salary inflation in 2023 and expects to make around an increase of around 9.5% This will include the impact of the 10% national living wage increase and enhancement of its pension benefits, with staff now able to access up to 6% employer contributions.

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cipHR

MARCH 27, 2023

The definitive A-Z of payroll outsourcing in the UK A | B | C | D | E | F | G | H | I | J | K | L | M | N | O | P | Q | R | S | T | U | V | W | X | Y | Z | A: Auto-enrolment The process through which qualifying employees are automatically entered into workplace pension schemes. a week (2023/24 rate) or 90% of average weekly earnings.

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