Employee Benefits

MAY 29, 2024

Commercial property investment firm Telereal Trillium, now known as TT Group, has completed a £130 million bulk purchase annuity full scheme buy-in for its pension plan. The members will not see any changes in their benefit entitlement as a result of the transaction. The plan is sponsored by Telereal Services.

Pension 59

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Employee Benefits

AUGUST 23, 2023

Benefits offered by Precis Digital: Pension A group personal pension (GPP) scheme for all employees, with up to 8% matching contributions from the employer. Employee assistance programme (EAP). Employees can only receive one bonus per quarter. Voluntary benefits Access to a discounts platform.

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Employee Benefits

NOVEMBER 30, 2023

Ingka Group, which owns retailer Ikea, has announced that it will pay out a €311 million employee bonus based on good results this financial year, where revenue grew by 5.4%. The group’s global annual performance-driven bonus programme rewards employees when they meet or exceed specific business goals.

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Employee Benefits

MARCH 17, 2023

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

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Employee Benefits

JANUARY 25, 2023

The benefits on offer at Wave: Pension A master trust pension scheme for all employees. Those aged 22 and over are auto enrolled, but it is open to all employees. Matching contribution levels: 3% employee contribution, 6% employer; 4% employee 8% employer; 5% employee and 10% employer.

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Employee Benefits

JANUARY 31, 2024

Pensions law firm Sacker and Partners has become a living pension employer. Sackers joins other employers which have received living pension accreditation, including Aviva, Wealthify, Phoenix Group, Herbert Smith Freehills and SSE.

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Employee Benefits

MARCH 24, 2023

The Pension Protection Fund has published its disability and long-term health condition pay gap data for the first time, reporting a 2022 mean hourly pay gap of 11.07%. A total of 85% of those employees with a disability or long-term health condition, and 83.5% The proportion of black employees receiving bonus pay was 72%.

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Employee Benefits

MARCH 15, 2023

Spring Budget 2023: In his Budget address to the House of Commons today (15 March 2023), Chancellor of the Exchequer Jeremy Hunt addressed the issue of unpredictable pension tax charges causing employees to leave work, particularly within the NHS. ” He added: “The issue goes wider than doctors. .”

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Employee Benefits

MARCH 7, 2024

million bonus among some of its employees after posting a record annual profit. A total of 25,000 employees out of 32,000 across the UK will receive a bonus in their pay packets at the end of March as a result of a 27% increase in profit to £188 million. million bonus among staff appeared first on Employee Benefits.

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Employee Benefits

OCTOBER 17, 2023

Pension consulting and administration business XPS Pensions Group has been awarded menopause-friendly accreditation ahead of World Menopause Day (18 October). Ben Bramhall, co-chief executive officer at XPS Pensions Group, said: “We are delighted to have achieved accreditation as a menopause friendly employer.

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Employee Benefits

OCTOBER 24, 2023

Conducted by global talent services firm Morgan McKinley as part of its 2024 Salary guide , the survey found that the top five desired benefits respondents look for in a job are working from home, bonus, pension, health insurance and flexible working hours. Benefits around wellbeing and flexibility remain top of the pile.”

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Employee Benefits

AUGUST 16, 2023

All 165 employees are also entitled to a £650 lump sum, worth an estimated 6.75% for those on standard salary, and a £500 minimum transition payment for visiting officers whose new basic pensionable pay will fall below the maximum commission scheme bonus they could have earned under the old scheme.

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Employee Benefits

SEPTEMBER 6, 2023

For employers, determining the contributions to a workplace pension scheme depends on the pensionable earnings of their employees. This article will explain the different methods for calculating pensionable earnings and how these methods affect pension contributions and tax efficiency. Employee contribution (inc.

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Employee Benefits

FEBRUARY 14, 2023

Growth in total pay , including bonuses, was 5.9% in the final quarter of 2022, while pay growth excluding bonuses was 6.7%, according to the latest labour market data from the Office of National Statistics (ONS). For pay excluding bonuses, this was the highest growth rate seen outside of the Covid-19 pandemic. on average.

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Employee Benefits

JUNE 28, 2023

Benefits on offer at Fox Agency: Pension Salary sacrifice pension arrangement; employees are automatically enrolled after three months’ service. Employee contribution 5% and employer contribution 3%. Employee assistance programme: 24-hour helpline for all issues and telephone counselling if required.

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Workplace Insight

OCTOBER 29, 2024

Offering a comprehensive employee benefits package is more important than ever, and Drewberry’s 2024 Employee Benefits And Workplace Satisfaction Survey found that a fifth of employees want insurance to protect their loved ones. Why Offer It?

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Employee Benefits

JULY 24, 2023

At Cobry, we provide our staff with a range of perks and bonuses, including a profit-share programme, electric car and bikes-for-work subsidies, and enhanced sick pay and pension contributions. Other benefits offered to Cobry staff include a recruitment referral bonus scheme, performance-related pay and floating bank holidays.

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Employee Benefits

NOVEMBER 20, 2023

Employees are given the choice of which format they would prefer and more than 90% opt for a paper copy. The TRS outlines what employee benefits have been on offer for the past 12 months. The post UK Power Networks uses total reward statements to boost engagement with benefits appeared first on Employee Benefits.

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Employee Benefits

JANUARY 4, 2022

The survey of 2,000 people by insurance provider Aviva also found that 17% of those who had already chosen to exit the workforce ahead of receiving their state pension had done so at the age of 60, making it the most common time to do so. State pension age in the UK is currently 66 for men and women and will rise to 67 later this decade.

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Employee Benefits

JANUARY 17, 2023

Growth in average total pay, including bonuses and regular pay but excluding bonuses , from September to November 2022 was 6.4%, according to the latest Office for National Statistics (ONS) figures. However, soaring prices mean that employees are not feeling the benefit of pay increases.

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Employee Benefits

AUGUST 28, 2023

Financial incentives , such as bonuses, subsidies, or reimbursement for using greener transportation options, can work to support the commuting use of public transportation, carpooling, biking, or walking. appeared first on Employee Benefits. Flexible work arrangements can reduce the need for daily commuting altogether.

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Employee Benefits

OCTOBER 31, 2023

In today’s economic climate, helping employees to build their financial resilience and providing them with the knowledge and tools to do so, has never been so important. The platform accepts payroll deductions on a regular basis (from as little as £25 per month) or from a lump sum (min £300) such as bonuses by using an open banking facility.

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Employee Benefits

FEBRUARY 15, 2023

The business has a transparent algorithm, with the real living wage as a base, then pulling in factors such as seniority, performance, care allowances and bonuses. 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 12, 2023

Need to know: As businesses grow, it is vital that their employee benefits strategies also evolve. A more mature strategy is likely to include an element of choice so employees can opt for what is important to them. The post How to upscale a benefits strategy to align with business growth appeared first on Employee Benefits.

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Employee Benefits

AUGUST 9, 2024

65% of pension scheme sponsors do not know how much members can expect at retirement One in three employers do not offer financial advice as a benefit SCA UK Pension Plan completes £1.1 billion pensions buy-in The post The top 10 most read articles between 2 – 8 August 2024 appeared first on Employee Benefits.

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Employee Benefits

MAY 31, 2024

The top 10 most read articles between 24 – 30 May 2024 on employeebenefits.co.uk The top 10 most read articles between 24 – 30 May 2024 on employeebenefits.co.uk

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Vantage Circle

AUGUST 23, 2018

Not to forget that many employees apply for organizations depending on the perks and benefits offered by that company. Business Dictionary defines Employee Benefits as the. Indirect and non-cash compensation paid to an employee. These are benefits given over and above salaries and wages. Retirement Plans.

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Employee Benefits

JUNE 1, 2023

Local HR seems to be getting all stressed about the new location’s benefit plans and I must do a benefits inventory and comparison to existing plans. It has a normal pension plan and a few related insured benefits. Really, it seems quite straightforward. Do I really have to do everything myself?

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Employee Benefits

APRIL 15, 2024

Two in five (40%) UK employees admitted they would choose a job with a lower salary but generous employee benefits , according to research from MetLife UK. Adrian Matthews, head of employee benefits at MetLife UK, said: “Benefits are becoming increasingly more important to employees, and rightly so.

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Employee Benefits

JANUARY 24, 2024

It’s being used more for incentive schemes than to replace salary or bonuses,” she explains. The volatility of the price means employees aren’t keen to switch from hard cash.” For these firms, it reinforces what they do but can also provide employees with an introduction to the concept. appeared first on Employee Benefits.

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cipHR

JUNE 4, 2020

Total reward statements (TRS) are used by employers to demonstrate to employees the true value of all their entire pay and reward package – which may comprise basic pay, overtime, bonuses, pension contributions, health benefits and more. In a competitive labour market, they can boost employee retention.

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Employee Benefits

NOVEMBER 20, 2023

Understanding the value A TRS typically offers a breakdown of the monetary value of an employee’s entire employment package. A TRS will provide an overview of exactly what an employee is entitled to and how much it is all worth. The post Do total reward statements still engage employees with their benefits packages?

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Employee Benefits

MARCH 8, 2023

It is important that pay reviews are done on time, and businesses should ensure that pay rises, overtime and bonuses are applied and paid on due dates and in the correct amounts. Danielle Ayres is a partner in employment law at Primas Law The post Danielle Ayres: The changing face of flexible working appeared first on Employee Benefits.

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Employee Benefits

JANUARY 14, 2022

A changing pension landscape: what can employers expect in 2022? The Caravan and Motorhome Club plans full pensions communication schedule for 2022. The post The top 10 most-read articles between 7 January – 13 January 2022 appeared first on Employee Benefits. The top 10 most-read stories on employeebenefits.co.uk

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Employee Benefits

JANUARY 17, 2024

million lost working hours (Money & Pensions Service). Financially resilient employees = less anxiety and absenteeism – saving your business money! Prioritising employee financial wellbeing at work doesn’t just help your people but your business, too. Financial resilience matters! The business perks…?

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Employee Benefits

MARCH 27, 2024

Credit: Jeff Spicer/PA Wire Pension A group personal pension (GPP) plan for all employees, with varying contribution levels across roles and business areas. Health cash plan through flexible benefits scheme. Benefits for carers Enhanced parental leave policy. Other benefits Voluntary discount scheme.

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Employee Benefits

NOVEMBER 21, 2022

If this is the case, employee benefit platforms and reward can become a redundant cost to the business and it not getting the full value of what is on offer,” she says. The post How to engage staff with a total reward offering appeared first on Employee Benefits. Staying on trend with current issues.

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