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3 Reasons to Boost Your Employee Benefits Offerings in 2020

Achievers

“I don’t really care about my employee benefits,” said no employee ever. When it comes to employee benefits, if your business can offer it, employees want it. That’s the case for any employee benefit, from time off to healthcare to flexible work arrangements to workers’ comp insurance.

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

Employee Benefits

appeared first on Employee Benefits. Image credit: photocosmos1 / Shutterstock.com Chancellor of the Exchequer, Jeremy Hunt (pictured), delivered his Spring Budget speech in the House of Commons on Wednesday 6 March.

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66% of workers unaware of total pension savings

Employee Benefits

Of 500 people surveyed by online pension provider PensionBee, 66% said they were unaware of the total value of their pension pots. While customers under the age of 40 have on average of just £11,200 saved for retirement, they have also already typically brought together two pension pots.

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Half of employers think pots-for-life will increase pensions engagement

Employee Benefits

Employee Benefits poll: Approximately half (49%) of organisations think the pots-for-life plan will increase employees’ engagement with their pensions, according to a survey of Employee Benefits readers. Employees would also be able to choose their own pension scheme for automatic-enrolment.

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Top tips for boosting employees’ pensions knowledge 

Employee Benefits

Need to know: Employers can tailor content and communication channels to different employee groups to help with their pensions knowledge. Losing the jargon will make the language of pensions easier to understand and more relevant to staff. Workplace pensions are one of the most valuable elements of the benefits package.

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One-third think the pension pot for life will help employees manage their pension

Employee Benefits

Employee Benefits poll: Just one-third (33%) of organisations think the pension pot for life plans announced in November’s Autumn Statement by Chancellor Jeremy Hunt will help employees to manage their pension, according to a survey of Employee Benefits readers.

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Gender pensions gap increases for older staff

Employee Benefits

New research has found the gender pension gap between men and women’s contributions is 35% for employees aged between 50 and 54, almost double the gap for 35 to 39 year-olds (18%). Due to auto-enrolment (AE) thresholds, an employee earning £30,000 who opts to reduce their hours by 40% would see their pay reduce by 40%.

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