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Beyond the jargon: what insurance benefits really mean to your team

Workplace Insight

Group Life Insurance / Death In Service Also known as “Death In Service”, this insurance pays a lump sum to an employee’s family or loved ones should they pass away during their employment with you. Each product has its own unique purpose, and some may be more relevant to your people than others. Why Offer It?

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The benefits offered by Wave

Employee Benefits

The benefits on offer at Wave: Pension A master trust pension scheme for all employees. Group income protection employer-paid for all employees, subject to acceptance by the insurer. Age limits are 16 to state pension age. Life insurance for all employees with a death-in-service benefit of four-times salary.

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The benefits offered by Fox Agency

Employee Benefits

Benefits on offer at Fox Agency: Pension Salary sacrifice pension arrangement; employees are automatically enrolled after three months’ service. Life insurance. Private medical insurance for senior leadership scheme, employer paid. Family friendly and work-life balance Flexibility when home working.

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Top 5 reasons to check your payslip

cipHR

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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How will the ‘Great Resignation’ change employees attitudes to employee benefits?

Employee Benefits

According to the Re:Me research, published in November 2021 by life insurance firm Metlife, 54% of employees are considering leaving their jobs in the next 18 months, while staffing platform Indeed Flex research, from October 2021, found 45% of HR directors are already facing hiring challenges.

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Designing a Remarkable Employee Perks Program that Fuels Success

Vantage Circle

As a gesture of gratitude towards their diligent workforce, employers can offer various retirement plans such as 401(k) or pension-based schemes. Life Insurance: According to Forbes Advisor , life insurance was deemed the top benefit by 45% of employees and 43% of employers.

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How to evaluate the compensation plan?

HR Digest

Retirement benefits – include 401(k)/403(b), pension plans, etc. Disability insurance. Life insurance. One that offers perks such as gym memberships and bonuses can help you upgrade to or maintain a healthy lifestyle. Paid leave – holiday, vacation, PTO, sick, personal, bereavement, military pay, jury duty, etc.

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