Employee Benefits

FEBRUARY 6, 2023

EXCLUSIVE: Employers which have offered effective benefits packages to support employees with hybrid working are, for the first time, in with a chance of winning an accolade at the Employee Benefits Awards 2023. The final deadline for entries is Friday 10 February.

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Employee Benefits

FEBRUARY 1, 2022

The Department for Work and Pensions (DWP) launched a consultation titled Pensions dashboards: consultation on the draft pensions dashboards regulations 2022. The draft regulations make provision for mandatory standards associated with pensions dashboards, delegating authority to the PDP to set them.

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Employee Benefits

JANUARY 22, 2024

To meet Gen Z’s needs, your organisation must promote the importance of a work-life balance from the beginning of the employee journey. Pensions and Future Planning Contrary to stereotypes, Gen Z actually places significant importance on pension benefits for future planning.

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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).

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Employee Benefits

JANUARY 18, 2022

But there is another lifestage that presents different financial challenges. Then, when they’re ready, they want to understand how to turn their pension savings into an income for life. A good pension scheme is a tangible measure of a company’s commitment to their workforce, but employees may still feel ill-prepared for retirement.

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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.

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Employee Benefits

NOVEMBER 8, 2022

Prime Minister Rishi Sunak has appointed Laura Trott MBE as minister for pensions, after predecessor Alex Burghart officially held the role for less than one month. Trott was appointed on 27 October, and the Department for Work and Pensions (DWP) made the announcement on 7 November via its official Twitter account.

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Employee Benefits

AUGUST 19, 2024

The government’s pensions reform agenda could reshape the rewards and benefits landscape, presenting both opportunities and challenges for employers. The newly announced pensions review presents an opportunity to improve pension adequacy. Addressing the needs of under-pensioned groups is essential.

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Employee Benefits

JUNE 18, 2024

Hundreds of Morrisons’ warehouse and logistics employees based in Cheshire and Yorkshire have accepted new terms related to their pensions, pay and working conditions , from 1 July. The post Morrisons warehouse workers accept new pensions, pay and conditions appeared first on Employee Benefits.

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Proskauer's Employee Benefits & Executive Compensa

JULY 11, 2022

On July 8, 2022, the Pension Benefit Guaranty Corporation (“PBGC”) published its much anticipated final rule on the special financial assistance (“SFA”) available to certain troubled multiemployer plans under the American Rescue Plan Act of 2021 (“ARPA”).

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Employee Benefits

APRIL 17, 2024

Pension salary sacrifice schemes are not a new concept, but one that all employers should consider, especially at a time where the tax burden on both employers and employees is high. For every £100 the employee agrees to sacrifice, the employer will see a £13.80 appeared first on Employee Benefits.

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Proskauer's Employee Benefits & Executive Compensa

JANUARY 27, 2023

13, 2023), the court granted a motion to dismiss a pension plan participant’s claim that the plan was equitably estopped from recouping overpaid plan benefits. Upon termination of his employment, the participant requested and received from the plan a disclosure estimating that his pension would be $6,225.24 App’x 588 (6th Cir.

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Pension Pension Benefit Employment 111

Employee Benefits

SEPTEMBER 2, 2024

Almost half UK employers have been touting statutory requirements or basic rights as workplace benefits in their job adverts, according to a new analysis by Rippl. The employee benefits platform looked at employers’ recruitment advertising on the largest job listing sites.

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Employee Benefits

DECEMBER 12, 2023

The Employee Benefits Awards 2024 are now open for entries, celebrating and honouring excellence in the HR, reward and benefits community. 2024’s event will feature 22 categories that are open for entries, ranging from pensions and motivation schemes, to mental health, financial wellbeing and healthcare.

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Employee Benefits

FEBRUARY 17, 2023

Therefore, people’s pension savings will likely start catching up with the frozen Allowance. This could particularly affect those who never check the value of their pension or haven’t done so for some time. Positive pension fund growth as well as a pay rise may easily push them over the LTA before they know it.

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Employee Benefits

JANUARY 22, 2024

The deadline for the Employee Benefits Awards 2024 has been extended until midnight on Friday 9 February to give HR, reward and benefits professionals more opportunity to enter. The winners for 2024 will be announced at the Employee Benefits Awards on Friday 14 June 2024 at the HAC London.

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Employee Benefits

AUGUST 18, 2023

between 11 – 17 August were: Tesco Ireland enhances staff health and wellbeing benefits 30% of staff prefer CDC pension for decumulation over an annuity or drawdown ScotRail staff accept improved pay deal Exclusive: A fifth of employees worry about money every day Median monthly pay up 7.8%

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Employee Benefits

SEPTEMBER 20, 2023

Yet, many businesses might be inadvertently losing money because they lack a competitive pension package. Retain top talent and save substantially Very few employees stay with the same organisation for their entire careers. By presenting a more enticing pension proposal, firms can foster greater employee loyalty.

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Proskauer's Employee Benefits & Executive Compensa

OCTOBER 17, 2022

A hotly debated (and litigated) issue for multiemployer pension plans in recent years has been the appropriate interest rate to determine a multiemployer pension plan’s liabilities when calculating the plan’s underfunding for withdrawal liability purposes. This story starts back in 1980.

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Employee Benefits

FEBRUARY 12, 2024

Passionate about financial wellbeing , global recruitment firm Hays provides employees with back-to-basics roadshows and webinars to explain pensions terminology in a more straightforward way in order to combat the gender pensions gap. It has offices in 33 countries and 13,000 employees across the world.

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Employee Benefits

FEBRUARY 16, 2022

Women need to be aware of the impact of career breaks and part-time working on their pensions, and how they may be able to mitigate the impact. Here are some practical tips for employers on how they can reduce the gender pensions gap. Perhaps decisive policy action is needed to address the pension gender divide.

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Employee Benefits

APRIL 10, 2023

Pensions are not usually at the forefront of the minds of young employees, yet early engagement with the subject could make accruing sufficient retirement funds much more likely. Digital marketing firm Flaunt Digital provides pensions education and information for its 30-strong workforce whose average age is 30.

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Employee Benefits

SEPTEMBER 18, 2023

Workplace pensions, as traditionally perceived, leave much to be desired. The team at Penfold believes that the current workplace pensions system isn’t just a challenge for employees, but also for employers. These questions ideally should be directed to the pension providers.

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Employee Benefits

NOVEMBER 24, 2022

Entries for the Employee Benefits Awards 2023 are now open, with the event set to take place on Friday 23 June 2023 at the HAC London. The Employee Benefits Awards is the event of the year for the reward, benefits and HR community. To see all the categories and start entering, click here.

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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

JANUARY 31, 2023

EXCLUSIVE: The deadline for the Employee Benefits Awards 2023, sponsored by Aon, has been extended until midnight on Friday 10 February, in order to give HR, reward and benefits professionals another chance to enter and win recognition for their achievements. To see all the categories and start your entry, click here.

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Employee Benefits

JANUARY 4, 2023

HR, reward and benefits professionals who want to win a table at the Employee Benefits Awards 2023 and receive the early bird entry rate only have two days left to submit their entries. The post Employee Benefits Awards 2023 gives entrants chance to win table for 10 appeared first on Employee Benefits.

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Employee Benefits

JULY 31, 2023

But your organisation might be doing just that because the set-up of your workplace pension scheme has kept you blissfully unaware. Pension contributions by employers are great in principle, fostering stability and long-term economic wellbeing for employees. After all, your workplace pension is your most costly perk.

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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

JULY 17, 2023

In this post, we will discuss various ways to enhance your employees’ financial wellbeing. To many, it represents something akin to: “A state of being where present and future financial commitments can be met without feeling uncertain about what lies ahead.” Is your company pension more of a hindrance than a help?

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Employee Benefits

JUNE 3, 2024

While employees starting work today will have a defined contribution (DC) pension , many in their 40s and 50s, who missed out on defined benefit pensions and were working before auto-enrolment was introduced, will face a pension shortfall.” A one-size-fits all approach risks confusing and alienating everyone.”

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Employee Benefits

JANUARY 17, 2023

It is important that employees understand the importance of saving into their pension from early on. For example, they may not realise that someone in their 20s can increase their pension pot by 25% in retirement by saving an extra 1% a year with an employer match. Don’t neglect your pension. Beware of scams.

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Employee Benefits

FEBRUARY 6, 2023

The cost-of-living problem is so large that it impacts all the key areas of financial wellbeing , such as everyday spending, saving, borrowing and planning, notes Andreas Hunter, employee benefits consulting lead at Buck. Employees are asking for help for acute issues around spending and borrowing,” he says.

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Employee Benefits

NOVEMBER 21, 2022

A study by iCompario published in October 2022 found that 26% of British workers are dissatisfied with their workplace benefits , with those based in Belfast (36%), Liverpool (31%) and Newcastle (31%) most likely to be dissatisfied. So can a total reward proposition help to improve employees’ engagement with their perks?

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Employee Benefits

APRIL 26, 2023

This could include an Employee Assistance Programme (EAP) offering debt advice, access to discount schemes, and the option to attend financial education sessions, all of which combined can help employees take control of their day-to-day finances.

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HR Digest

FEBRUARY 20, 2020

Retirement plans for a person are valuable benefits that impact both the present as well as future lives of the employees. However, offering retirement benefits to an employee can be a complicated process. As such, it is essential to understand the pros and cons of the process of providing retirement benefits.

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Proskauer's Employee Benefits & Executive Compensa

SEPTEMBER 13, 2021

This episode is the final installment of our three-part series on a new special financial assistance program created by the American Rescue Plan Act of 2021 for troubled multiemployer plans and the interim guidance issued by the Pension Benefit Guaranty Corporation regarding the program. JUSTIN ALEX: Sure.

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