Money Talk

APRIL 17, 2025

I recently attended (virtually) a conference about retirement savings sponsored by the Employee Benefit Research Institute (EBRI). pension or annuity) are more likely to spend money and less likely to feel financial stress than those who withdraw money from investments to pay living expenses.

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401(k) Finance Taxes Pension 132

Employee Benefits

MARCH 9, 2022

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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Pension Insurance Employment Employee Benefits 111

Employee Benefits

APRIL 24, 2024

Increasing minimum pension contributions under auto-enrolment from 8% to 12% could result in additional contributions of £10 billion a year in the UK, according to research by Phoenix Group and WPI Economics. The post Increasing minimum pension contributions to 12% could boost savings by £95,530 appeared first on Employee Benefits.

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Pension Employee Benefits IT 108

Employee Benefits

FEBRUARY 20, 2024

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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Pension Employment Consulting Education 115

Employee Benefits

MAY 28, 2024

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. Morrisons said the loss in pension contributions per worker would be more than offset by the offered pay rise.

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Pension Take Home Pay Retail Consulting 104

Employee Benefits

MARCH 7, 2022

New research has revealed that 82% of young employees aged between 18 and 22 believe that individuals in employment should start saving for their pensions and retirement before the current default age of 22. The post 82% of young staff want to save for pensions before turning 22 appeared first on Employee Benefits.

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Pension Government Salary Employee Benefits 121

Employee Benefits

APRIL 25, 2024

Just over one-third of pension savers (35%) feel confident to make decisions such as choosing how to access their pension when they reach retirement age, according to research by workplace pension scheme provider TPT Retirement Solutions.

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Pension Government Employee Benefits Management 111

Employee Benefits

MARCH 27, 2023

What is a group personal pension (GPP)? A group personal pension is a defined contribution (DC) arrangement whereby an employer agrees to make monthly contributions into a scheme, but the contract is between the employer and the pension provider. The pensions annual allowance has been increased from £40,000 to £60,000.

Pension 111

Pension Taxes Government Salary 111

Employee Benefits

JANUARY 25, 2022

Workplace savings fintech firm Cushon has acquired financial services business Creative’s workplace pension scheme. This is Cushon’s third workplace pension acquisition in two years, in line with regulatory goals to drive further consolidation in the market.

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Pension Technology Employee Benefits Employment 105

Employee Benefits

JULY 22, 2024

Rachel Reeves, chancellor of the exchequer, has announced a pensions review as part of the government’s aim to boost growth and productive investment into the UK economy. How pension pots for savers in DC schemes could be boosted by more than £11,000, will also be explored. There is no time to waste.

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Pension Government Employee Benefits Management 105

Employee Benefits

NOVEMBER 15, 2023

For the last 11 years, BT has rolled out a programme of financial education for its employees to help them plan for retirement. The post BT boosts employees’ pension knowledge with financial education programme appeared first on Employee Benefits.

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Pension Education Retirement Plan Finance 116

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.

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Pension Electronics Finance Government 105

Employee Benefits

JANUARY 18, 2023

One effective way in which employers can help drive employee engagement with pensions is by ensuring ease of access, so they can engage more easily and more regularly. In order to minimise jargon surrounding pensions, communication strategies should be easy to understand, inspiring, engaging and informing.

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Pension Finance Technology Consulting 111

Employee Benefits

JANUARY 17, 2024

While automatic-enrolment has resulted in more individuals saving for retirement, it has created a separate issue that the Department for Work and Pensions (DWP) describes as ‘the proliferation of small pots’: the creation of multiple deferred pension pots , often low in value, when employees change employer.

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Pension Payroll System Consulting Payroll 119

Employee Benefits

JANUARY 18, 2023

Global technology organisation Siemens, which employs approximately 7,000 employes in the UK, believes it is important for its younger employees to understand that pension saving is most effective when they start early on. “We also use our internal social platform Yammer to promote pension messages within Siemens.”

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Pension Electronics Benefits Package Technology 105

International Foundation of Employee Benefit Plans

AUGUST 4, 2022

As the global impact of climate change grows, environmental, social and governance (ESG) factors have become a core consideration for pension funds. Read more > The post Protecting Pensions and ESG Risks appeared first on Word on Benefits. ESG issues and concerns can no longer be.

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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.

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Pension Parental Leave Employment Education 104

Employee Benefits

SEPTEMBER 16, 2024

The majority of UK adults admitted they only have moderate expectations for their pension returns, and prioritise stability in their retirement savings over higher-risk investments, a new survey by PensionBee has revealed. The post Majority of UK adults have moderate expectations for pension returns appeared first on Employee Benefits.

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Pension Employee Benefits IT 94

International Foundation of Employee Benefit Plans

JULY 15, 2024

Income Tax Act (ITA) […] The post Cross-Country Pensions Update appeared first on Word on Benefits.

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Pension Taxes Employee Benefits 101

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.

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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.

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Pension Employment Professional Services Government 105

Employee Benefits

JULY 17, 2023

When law firm Herbert Smith Freehills was approached about taking part in the living pension pilot, it was keen to support what it saw as a vital initiative not just for its own employees, but for society in general. The living pension voluntary savings target is 12% of a worker’s annual salary.

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Pension Salary Education Employment 98

Employee Benefits

SEPTEMBER 6, 2023

Given cost of living worries and the notion this may be impacting pension savings, WEALTH at work conducted research* with employees to find out their thoughts into what’s happening in reality. It’s therefore more important than ever to ensure employees are engaged with their pensions.

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Pension Pension Benefit Taxes Education 105

Employee Benefits

AUGUST 14, 2023

Need to know: Change will happen when it comes to employers’ pensions plans. But when change happens in areas that are not well understood, like pensions , people can sometimes assume that any news is bad news. Employees will appreciate honesty, he adds. Whatever the change, some universal principles remain true.

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Pension Consulting Education Employment 98

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.

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Pension Taxes Government Payroll 103

Employee Benefits

AUGUST 14, 2023

When Ford Motor Company moved to a master trust in April 2022, explaining the changes to people at pensions roadshows was a priority. Oliver Payne, international pensions and data analytics manager at Ford and founder of the Reinventing Pensions event, explains: “The reason for that is you get people’s focused attention.

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Pension Employee Benefits Management Employment 98

Employee Benefits

JULY 11, 2023

Implementing flexible work practices offers several benefits, from boosting productivity to giving you a competitive edge in hiring. Workplace Pension A substantial pension plan with generous employer contributions represents one of the most valuable employee perks, ensuring a secure future in an employee’s retirement years.

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Employee Benefits

SEPTEMBER 6, 2023

BBC v Christina Burns concerns the ability of employers to amend their old-fashioned and prohibitively expensive defined benefit pension schemes to make cost-saving changes. Often this is done by closing a scheme to future accrual, so members no longer earn any further benefits in it. The court said the BBC could not do this.

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Pension Employment Employee Benefits IT 105

Empuls

AUGUST 28, 2024

This not only highlights the importance of employee benefits in fostering loyalty and satisfaction but also underscores the potential risks for companies that fail to prioritize this aspect of their compensation strategy. What are employee benefits providers? This reduces the administrative burden on HR departments.

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Benefit Providers Employee Benefits 401(k) Retirement Plan 40

Employee Benefits

MARCH 6, 2024

WEALTH at work, a leading financial wellbeing and retirement specialist has run financial education workshops for staff in hundreds of organisations and is encouraging people to consider using this saving in National Insurance if they can, to increase their monthly pension contributions. When made into a pension contribution it is worth £206.39

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Pension Insurance Salary Taxes 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.

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Pension Net Pay Taxes Salary 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 post Department of Work and Pensions reports 5.9% mean gender pay gap appeared first on Employee Benefits. The government department’s mean gender pay gap , increased by a 1.7

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Employee Benefits

SEPTEMBER 18, 2023

Private medical insurance (PMI) has become the most important perk that employees look for in their benefits package, according to new research by Zest. They also ranked PMI ahead of benefits that could help them with the cost-of-living crisis, such as employer support for home energy costs (25%) and workplace savings schemes (21%).

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Medical Insurance Employee Benefits Healthcare 115

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?

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Pension Employment Payroll Government 96

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.

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Pension Finance Salary Government 98

Employee Benefits

JUNE 26, 2023

With interest rates on the rise, we often get asked at our financial education sessions, is it best to pay off your mortgage or pay into your pension? The post Paying off a mortgage or paying into a pension? appeared first on Employee Benefits.

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Pension Finance Education Taxes 98

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.

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Pension Government Employment Employee Benefits 98