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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. Unite also claims Morrisons is ditching a long service pay award and increasing the speed at which goods are expected to be processed in warehouses.
This can contribute to fiscal drag, which occurs when taxpayers are ‘dragged’ into paying tax, or a higher tax rate. Jeanette Makings, head of workplace financial wellbeing at Close Brothers Asset Management, says: “Employees will need help understanding the impact in relation to their take-homepay.
Your business fronts the cost of leasing an electric car, and the employee pays you back over a set period of time. Workplace Pensions A great way to boost your employees pension pots! By opting to contribute a portion of their pre-tax salary into their pension, they can enjoy immediate tax and National Insurance savings.
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