Employee Benefits

AUGUST 19, 2024

Credit: Mistervlad/Shutterstock Need to know: The Labour government’s Employment Rights Bill will enhance employee rights but there are concerns that proposals could have unintended consequences, adding cost, disadvantaging some businesses and their employees, and affecting recruitment strategies.

Government 104

Government Pension Employment Consulting 104

Employee Benefits

OCTOBER 23, 2023

lost pension pots in the UK, worth around £26.6 billion WEALTH at work explains how employees can track down lost pensions and provides guidance on whether to consolidate The total value of lost pension pots has grown from £19.4 find-pension-contact-details). find-pension-contact-details). billion in 2022.

Pension 105

Pension Electronics Finance Government 105

Employee Benefits

FEBRUARY 12, 2024

More employers could introduce gender inclusive paid parental leave to prevent and try to close gender pension gaps. The Pensions (Extension of Automatic-Enrolment) (No. 2) Bill will remove the lower earnings limit, enabling more employees to pay into a pension. The Pensions (Extension of Automatic-Enrolment) (No.

Pension 104

Pension Parental Leave Employment Education 104

Employee Benefits

MARCH 3, 2022

Nearly half (46%) of UK employers with defined contribution (DC) pension schemes say that delivering positive outcomes for members in this scheme is now their top priority, according to research by global professional services firm Aon. Back in 2020, employers’ main priority was to offer a pension that was broadly in line with competitors.

Pension 105

Pension Employment Professional Services Government 105

Employee Benefits

OCTOBER 16, 2023

A buy-in is a contract between a defined benefit pension scheme and an employer that removes longevity, market, interest and inflation risks. With this in mind, what is a pensions buy-in and how is it conducted? If an investment strategy underperforms, it may not generate sufficient returns to pay pensions in the future.

Pension 105

Pension Insurance Consulting Government 105

Employee Benefits

MARCH 16, 2023

It included a number of key announcements that could impact employees’ pay , pensions and benefits. appeared first on Employee Benefits.

Pension 103

Pension Taxes Government Payroll 103

Employee Benefits

SEPTEMBER 2, 2024

Choosing a pension provider that offers easily accessible and age appropriate investment education can increase employees’ confidence on the topic. Investment fund choices for employees with specific needs or beliefs ensure wider needs are met. Internal surveys can provide an insight into what they know and would like to learn.

Pension 97

Pension Education Finance Government 97

Employee Benefits

NOVEMBER 15, 2022

In its blog published 4 November, AE has come a long way, but we all have further to go, the Pensions Regulator (TPR) recognises the successes of automatic-enrolment in encouraging retirement saving. While guidance from MoneyHelper is useful, the process of reconnecting lost pensions remains administratively cumbersome for individuals.

Pension 98

Pension Government Employment Employee Benefits 98

Employee Benefits

JUNE 8, 2023

The UK government has issued an update on its planned pensions dashboards programme , stating that it needs additional delivery time and its connection deadline will be 31 October 2026. It stated that this will give the programme the flexibility to be completed effectively.

Pension 59

Pension Government Architecture Consulting 59

Employee Benefits

APRIL 11, 2024

The Department for Work and Pensions has published new guidance to help employers better support disabled people. The post Government launches new disability guide with CIPD appeared first on Employee Benefits. The DWP said it forms part of its £2.5

Government 96

Government Pension Recruitment Employment 96

Employee Benefits

NOVEMBER 30, 2022

The Department of Work and Pensions (DWP) has reported a mean gender pay gap for 2022 of 5.9%. The government department’s mean gender pay gap , increased by a 1.7 The post Department of Work and Pensions reports 5.9% mean gender pay gap appeared first on Employee Benefits.

Pension 105

Pension Parental Leave Bonuses Government 105

Employee Benefits

AUGUST 29, 2023

Auto Enrolment Pension Staging Date: A Guide for Employers Whether you’re exploring the possibility of establishing a new auto enrolment pension for your company, or if you’ve already got one in operation pension auto enrolment staging dates might puzzle you. Hasn’t pension auto enrolment been an obligation for quite some time?

Pension 96

Pension Employment Payroll Government 96

Money Talk

MAY 31, 2023

When the government lowers tax rates. Work in Retirement- A speaker at the 2022 Retirement Summit sponsored by the Employee Benefit Research Institute (EBRI) noted that 1 in 3 retirees have experience working after retiring from a primary career. There are only two ways to reduce taxes: 1. Make less income and 2.

Finance 246

Finance Taxes Pension Education 246

Employee Benefits

JULY 17, 2023

As a voluntary savings target, the living pension initiative sets out the minimum annual contribution needed to afford basic living costs in retirement. Employers should ensure that employees who increase their contributions in line with this are not saving at a rate they cannot afford. Enter the living pension initiative.

Pension 98

Pension Finance Salary Government 98

Employee Benefits

JULY 25, 2023

Transitioning to a superior provider is no longer a hassle: If you’re contemplating changing your current workplace pension scheme, the process isn’t as challenging as you might think. Many pension companies (we’re one of them!) What is a workplace pension? are prepared to assist you with the heavy lifting.

Pension 96

Pension Net Pay Taxes Salary 96

Employee Benefits

NOVEMBER 22, 2023

Chancellor of the Exchequer Jeremy Hunt has announced plans to offer a pension pot for life in the Autumn Statement 2023. This will give employees a legal right to require a new employer to pay pension contributions into their existing pot, avoiding the accumulation of multiple pension pots throughout their working life.

Pension 64

Pension Government Retirement Plan Consulting 64

Employee Benefits

APRIL 26, 2023

Need to know: The Department for Work and Pensions announced a delay to the delivery of the pensions dashboard programme in March 2023. Employers should also consider their communications and resources; once the dashboard project is live, they should expect questions and queries from employees. Who will oversee the dashboards?

Pension 90

Pension Food Government Employment 90

Employee Benefits

FEBRUARY 1, 2022

The government has published a key document in the creation of a single portal for people to manage their retirement income. The Department for Work and Pensions (DWP) launched a consultation titled Pensions dashboards: consultation on the draft pensions dashboards regulations 2022.

Pension 75

Pension Consulting Government Employee Benefits 75

Employee Benefits

NOVEMBER 17, 2022

Autumn budget 2022: The government has confirmed that the pensions triple lock and credit will be protected, and rise by 10.1% He reported that increase should result in up to £1,470 extra for a couple and £960 for a single pensioner. The single tier state pension will rise from £9,627.80 in April 2023.

Pension 52

Pension Government Taxes Employee Benefits 52

Employee Benefits

JANUARY 28, 2022

Addressing climate change and rolling out the pensions dashboard are the biggest priorities for workplace pension scheme advisers this year, research has revealed. Meanwhile, a host of other industry-defining issues, from auto-enrolment to pensions tax reform, remain high on the industry’s to-do list,” he said.

Pension 72

Pension Government Taxes Employee Benefits 72

HR Digest

MAY 21, 2023

A strong employee benefit package can go a long way. Employer benefits package is key to attracting and retaining top talent. Employee benefits have become an essential part of any competitive compensation package. What do you want to achieve with the employee benefit package 2. Payroll taxes 2.

Benefits Package 105

Benefits Package 401(k) Employee Benefits Disability Insurance 105

Employee Benefits

AUGUST 7, 2023

Helen Tomlinson, head of talent UK and Ireland at The Adecco Group and government menopause employment champion, will delievr a session on women’s health at Employee Benefits Live 2023. Employee Benefits Live 2023 will take place on Tuesday 3 and Wednesday 4 October 2023 at ExCeL London.

Employee Benefits 98

Employee Benefits Pension Government Employment 98

Employee Benefits

FEBRUARY 15, 2024

The Welsh government has partnered with employee benefits provider Vivup for the managed service provision of its employee benefit schemes. As part of the framework agreement and in alignment with Welsh government policy, provision for Welsh Language Standards will be made.

Government 59

Government Employee Benefits Life Insurance Pension 59

Employee Benefits

NOVEMBER 23, 2023

A number of key announcements were made that will affect pay , pensions and benefits. Autumn Statement: Government announces plans to offer pension pot for life Autumn Statement: State pension to increase by 8.5% appeared first on Employee Benefits. appeared first on Employee Benefits.

Pension 59

Pension Employee Benefits Government Consulting 59

Employee Benefits

JANUARY 10, 2022

In what may bring a sigh of relief, 2022 is not a year with new legal requirements incumbent on employers regarding pensions. But there are many ongoing requirements to be mindful of, and changes within the pensions environment that could lead to future impacts. The necessary legislation has now been passed to permit CDC schemes.

Pension 72

Pension Net Pay Government Taxes 72

Proskauer's Employee Benefits & Executive Compensa

AUGUST 20, 2021

This episode of The Proskauer Benefits Brief is the second of our three-part series analyzing the Pension Benefit Guaranty Corporation (PBGC) guidance on the new special financial assistance program for troubled multiemployer pension plans that was created by the American Rescue Plan Act (ARPA).

Pension 98

Pension Pension Benefit Employment Executive Compensation 98

Employee Benefits

JULY 12, 2024

Credit: UK government, under Attribution 3.0 Unported Deed, resized Emma Reynolds, the elected Labour MP for Wycombe, has been appointed parliamentary secretary for both the Department of Work and Pensions (DWP) and HM Treasury. Kate Smith, head of pensions at Aegon, said: “We welcome Emma Reynolds as the new pensions minister.

Pension 59

Pension Finance Government Employee Benefits 59

Employee Benefits

AUGUST 19, 2024

Chancellor of the exchequer Rachel Reeves has launched a review to boost investment, increase saver returns and tackle waste in the pensions system. The review will be led by minister for pensions Emma Reynolds and will focus on defined contribution workplace schemes and the Local Government Pension Scheme (LGPS).

Pension 59

Pension Government Consulting Employee Benefits 59

Employee Benefits

JULY 11, 2023

Nine of the UK’s largest defined contribution (DC) pension providers have come to an agreement with the government to improve pension schemes. This could unlock up to £75 billion of additional investment from DC and local government pensions.

Pension 45

Pension Government Employee Benefits Taxes 45

Employee Benefits

JULY 17, 2024

The new Labour government will introduce a Pension Schemes Bill to improve outcomes for savers in private sector pension schemes. In the State Opening of Parliament, His Majesty King Charles introduced plans for the Pension Schemes Bill to strengthen pension investment.

Pension 59

Pension Government Taxes Consulting 59

Employee Benefits

MARCH 2, 2023

The Department for Work and Pensions (DWP) has issued a ministerial statement confirming that the Pensions Dashboards Programme (PDP) will not be able to meet the delivery deadlines originally set out in its legislation. DWP and the Money and Pensions Service [MAPS] remain committed to dashboards.

Pension 64

Pension Architecture Government Retirement Plan 64

Employee Benefits

JANUARY 28, 2022

The UK’s occupational defined contribution (DC) pension market has consolidated by nearly 40% in a decade, data has shown. The Pensions Regulator’s (TPR) 12th annual DC trust report revealed that there were 27,700 DC schemes in December 2021 down from 45,150 in 2011. It also showed a 2% drop in the number of schemes in the last year.

Pension 72

Pension Government Employee Benefits IT 72

Employee Benefits

AUGUST 21, 2024

Credit: Dilok Klaisataporn/Shutterstock Need to know: Significant amounts of money are tied up in small pension pots, many of which may have been forgotten. The Pensions Tracing Service can help people reconnect with lost pensions. Employers can help staff with this process and engage with pensions more generally.

Pension 64

Pension Retirement Plan Education Consulting 64

Employee Benefits

JANUARY 17, 2024

Credt: P Maxwell Photography/Shutterstock The pension pots-for-life plan take the onus off of employees to keep track of their pensions as they move jobs. Clarification is needed on how employers would manage the process of putting employees’ contributions into many different pension pots. Opinions differ. “I

Pension 105

Pension Employment Government Hospitality 105

Employee Benefits

SEPTEMBER 11, 2024

Credit: elina.nova/Shutterstock What are master trust pension schemes? Master trusts are defined contribution pension schemes , set up under trust law, which allow multiple employers that are unconnected with one other to participate. However, there are some tricky issues to watch out for when transferring benefits to a master trust.

Pension 59

Pension Government Taxes Deductions 59

Employee Benefits

FEBRUARY 20, 2023

Need to know: There are plenty of benefits to getting employees engaged with their pensions investments, but employers should to be clear about what behaviour they want to encourage. Investments can be made meaningful by using layman’s terms to explain the funds, and what they mean for employees.

Pension 69

Pension Education Finance Government 69

Employee Benefits

DECEMBER 13, 2021

Need to know: Workplace pension regulators are looking at how value for money can be clarified in defined contribution (DC) pension schemes. Ultimately the employer is one of the greatest contributors to delivering value for money from a DC workplace pension. A qualified success. A complex conundrum.

Pension 72

Pension Employment Government Consulting 72