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Spring Budget 2024: DC pensions required to disclose investment in UK equities

Employee Benefits

Spring Budget 2024: Jeremy Hunt, Chancellor of the Exchequer, has announced plans to bring forward requirements for defined contribution (DC) schemes and local government pension schemes (LGPS) to publicly disclose the breakdown of their asset allocation in UK equities. Requirements for LGPS will be introduced in April 2024.

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Morrisons warehouse workers strike over pension contribution change

Employee Benefits

About 1,000 Unite union members working at two Morrisons warehouses have undertaken strike action for three days over a cut in company contributions to their pensions. Morrisons said the loss in pension contributions per worker would be more than offset by the offered pay rise.

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How will the Spring Budget 2024 affect pay, pensions and employee benefits?

Employee Benefits

appeared first on Employee Benefits.

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How to improve employees’ confidence in making pension investment choices

Employee Benefits

Choosing a pension provider that offers easily accessible and age appropriate investment education can increase employees’ confidence on the topic. In its March 2024 report, the Pensions and Lifetime Savings Association (PSLA) revealed that while 82% of savers understand their pension is invested, only 26% know what it is invested in.

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Are pensions set for a big retirement return in 2024?

Employee Benefit News

Major employers like IBM and Ikea are touting the benefits of pensions on their employees' financial well-being. Is the industry ready for a comeback?

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Autumn Statement: State pension to increase by 8.5% from April 2024

Employee Benefits

The state pension will increase by 8.5% from April 2024. Jeremy Hunt, Chancellor of the Exchequer, announced the rise in the Autumn Statement, with the increase based on average earnings data published in September and in line with the government’s triple lock policy on pension changes. increase on the horizon for April 2024.

Pension 59
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Newcastle Building Society accredited as living pension employer

Employee Benefits

Newcastle Building Society has received living pension employer accreditation from the Living Wage Foundation. The society’s commitment will see its new employees, who join the organisation after 1 April 2024, receive a higher default level of pension than current auto-enrolment contributions, with workers paying 5% and employers paying 7%.

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