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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.
Credit: patat / Shutterstock.com Retailer Marks and Spencer will give its retailemployees a pay rise as of 1 April as part of a £57 million investment. The change means all retailemployees will be paid more than the national living wage and either in line with or more than the real living wage.
Home improvement retailers B and Q and Screwfix, both owned by Kingfisher, have announced that shop floor workers will receive a pay rise to £10.60 Kingfisher also provides share schemes, discounts across various national retailers and access to financial wellbeing app Wagestream. from 1 April, an 8.2% increase, respectively.
Credit: Martin Good / Shutterstock.com Retailer Boots has completed a £4.8 billion pensions buy-in. The transaction with Legal and General will secure the benefits of all 53,000 retirees and deferred members of the scheme. billion pension scheme buy-in appeared first on EmployeeBenefits.
The benefits on offer at Wave: Pension A master trust pension scheme for all employees. Those aged 22 and over are auto enrolled, but it is open to all employees. Matching contribution levels: 3% employee contribution, 6% employer; 4% employee 8% employer; 5% employee and 10% employer.
Retailer Spar UK has completed an £11 million buy-in transaction for its UK pension fund. The transaction was carried out by Just Group in order to provide a better outcome for members through greater security of their benefits. This is especially notable given the unprecedented demand in the pension risk transfer market.
Pension consulting and administration business XPS Pensions Group has been awarded menopause-friendly accreditation ahead of World Menopause Day (18 October). Ben Bramhall, co-chief executive officer at XPS Pensions Group, said: “We are delighted to have achieved accreditation as a menopause friendly employer.
The TRS outlines what employeebenefits have been on offer for the past 12 months. Examples of these are our Tusker car initiative, which now has 250 users, and presenting available retail discounts just before Christmas as a timely reminder. Offering choice is key,” he concludes.
Image Factory/shutterstock_1864249615 Need to know: Employeebenefits can play an important role in helping organisations meet their sustainability goals, as well as helping to attract and retain staff. Those working in HR and employeebenefits roles are no exception.
Pension and group risk Trust-based defined contribution pension with 12% employer, 3% employee minimum contributions. Group income protection benefit that pays 75% up to state retirement age. Healthcare and wellbeing Private medical insurance (PMI), subsidised for all employees. Discounted retail vouchers.
EmployeeBenefits · EmployeeBenefits/Wave podcast Listen: A fairly young organisation, national water supplier Wave, has always ensured that employee wellbeing is weaved into the fabric of the business. At a glance Wave is a national water retailer with 323 members of staff.
They will also be eligible for compassionate and parental leave that includes providing a lump sum to cover time off if they welcome a new family member or lose a loved one, and discounts on food and groceries, fuel, technology and utilities at well-known retailers.
The Welsh government has partnered with employeebenefits provider Vivup for the managed service provision of its employeebenefit schemes. It will also offer reward and recognition benefits such as gift cards, vouchers and gift experiences, long-service awards, recognition messages or cards, and lump sums.
Almost two-thirds (62%) started planning their pension income in the final year before they retired and 72% consider financial preparation to be very important for a happy retirement. It’s important for the financial services industry to help people understand pensions and encourage planning for retirement at all ages.
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, employeebenefits consulting lead at Buck. Employees are asking for help for acute issues around spending and borrowing,” he says.
As a starting point, employers can survey staff to ascertain their situations, and get creative with benefits that can help employees both today and in the long-term, says Steve Watson, director of policy and research at Cushon. The post How to target financial wellbeing support to employees appeared first on EmployeeBenefits.
Discount vouchers are often available through voucher and discount websites and many workplaces offer employee discount schemes with major retailers. It is important that employees understand the importance of saving into their pension from early on. Don’t neglect your pension.
The last few years have caused many to reflect on how we spend our time, leading to employers having to re-evaluate their employeebenefits package. David McCormack, CEO , HIVE360 , explains it’s important to first understand what benefits and support employees value the most.
We wanted to target every stage of people’s financial journey, so we offered pre-retirement and pension support to older employees and deployed Salary Finance solutions across the workforce,” he says.
And, of course, how you can use your employeebenefits for over-50s retention. Wholesale, retail and customer service occupations are among the industries which have seen the largest changes. What’s behind the ‘silver exodus’? According to the Office for National Statistics, nearly 3.5
Credit: patat / Shutterstock.com Retailer Marks and Spencer has announced pay increases and enhancements to its maternity, paternity and adoption policies. A full-time employee will see an increase of around £180 per month. A huge thank you to our 65,000 [employees] for their continued hard work.” to £12 per hour, a 10.1%
Benefits offered by Central Co-op: Pension and group risk. A group personal pension for all employees, with varying contribution levels. Health cash plan, funded by the employee. Employee assistance programme, employer paid. Holiday puchase: employees can buy up to one week of additional leave.
Retailer Primark is to increase hourly pay for 27,000 retailemployees so they benefit from an average 9.1% From 1 April, the organisation will increase its average hourly pay rates for all retail assistants across England, Scotland and Wales from £11 to £12, and from £11.51 for those in London.
Ingka Group, which owns retailer Ikea, has announced that it will pay out a €311 million employee bonus based on good results this financial year, where revenue grew by 5.4%. The group’s global annual performance-driven bonus programme rewards employees when they meet or exceed specific business goals.
Standard Chartered Bank and supermarket chain Lidl GB have been shortlisted for Best voluntary benefits at the EmployeeBenefits Awards 2024. We’re doing a lot for our student employees in terms of cost-of-living benefits, including opening up [the] Isa for pensions contributions for them.
On-demand grocery delivery service Beelivery has introduced a new employeebenefits and payroll service to meet the demands of its growing organisation. They can also check information about their pension and use the app to review pension performance and explore the impact of changing contributions.
The benefits offered by the Eden Hotel Collection: Pension Group personal pension for all employees, with a 5% employee and 3% employer contribution. Healthcare and wellbeing Health cash plan for all employees, employee-paid. Other benefits Bikes-for-work scheme. Discount retail platform.
Eurochange’s employees across its head office and 200 UK branches can now access a range of personalised resources, provided by retail industry charity Retail Trust, to support their wellbeing. Employees can also complete a short happiness assessment and receive a free action plan to help them feel happier.
Credit: Ben Molyneux / Shutterstock.com Kitchenware and homeware retailer Lakeland has implemented new wellbeing support to protect its more than 1,300 members of staff. The post Lakeland introduces new staff wellbeing support appeared first on EmployeeBenefits.
between 28 January and 3 February 2022 were: University staff plan strikes over pensions and pay. Three UK gives pay rise to retail staff. The post The top 10 most-read articles between 28 January – 3 February 2022 appeared first on EmployeeBenefits. The top 10 most-read stories on employeebenefits.co.uk
Co-op believes a strong financial wellbeing strategy is about more than products and services, and that employees should be supported to make great decisions. The retailer recognises that money and its role in lives can be a difficult thing to talk about, because there can be a lot of perceived stigma, so it is important to break that down.
From April 2024, 16,500 employees at the home improvement retailer will get an extra 90p per hour, worth over £1,700 more a year for a full-time employee. per hour, which for full-time [employees] is worth over £1,700 more a year. We highly value our front-line [employees] and hope this new hourly rate demonstrates that.
Credit: Sundry Photography / Shutterstock.com Online retailer Amazon has announced that it will increase its minimum salary for frontline operations employees as part of a £170 million investment as of 15 October. In addition, minimum starting pay for this group of employees will further increase to between £12.30 and £12.50
The benefits on offer at Aldermore Bank: Pension A group personal pension (GPP) plan with salary sacrifice arrangement for all employees. Employee/employer contribution levels are 3%/6%, 4%/8% and 5%/10%. For all other employees, bonuses are paid annually, based on both individual and business performance.
Benefits on offer at FitFlop in the UK: Pension Group personal pension (GPP) plan offered via salary sacrifice arrangement for all employees, with 4.5% contributions from both employee and employer.
The benefits on offer at Trayport: Pensions and financial wellbeing. Group personal pension plan with Aviva with a 7% employer contribution. Group income protection for all employees, employer paid. Quarterly Excellence awards at which employees and teams are commended for doing great work and awarded gift vouchers.
Credit: bennphoto / Shutterstock.com Retailer Currys is increasing pay for its approximately 10,000 hourly-paid employees as part of an investment into their pay. per hour, while its top-performing employees can earn on £13.95 per hour, while its top-performing employees can earn on £13.95 This investment represents a 9.5%
Technology retailer Currys has awarded its 10,000 hourly store employees a pay rise , the fourth in 18 months, with rates increasing from £10.35 This latest increase means that we are one of the highest paying retailers in the UK. “I The post Currys gives staff fourth pay rise in 18 months appeared first on EmployeeBenefits.
The benefits offered by Northwood Hygiene Products include: Pension Two group personal pension (GPP) schemes, with employee contribution rates of either 4% or 5%, and employer contribution of 5% or 4%. Healthcare and wellbeing Private medical insurance (PMI) for certain employee groups, employer paid.
The launch also includes a lifestyle saving scheme to support employees’ financial wellbeing. This gives staff information on ways to save money and access to savings through retail gift cards and discount codes. The post EXCLUSIVE: Accor Group launches new employee wellbeing benefit appeared first on EmployeeBenefits.
The benefits offered by Nominet: Pensions A group personal pension (GPP) scheme for all employees. Healthcare and wellbeing Private medical insurance (PMI) for all employees, employer funded. Employees can add dependents at personal cost. Health cash plan for all employees. Health screening.
The post Heathrow Airport Border Force officers strike over working conditions appeared first on EmployeeBenefits. They say this is grossly unfair and to the detriment of Border Force as it throws away decades of combined experience in high-pressure roles.” The Home Office was contacted for comment prior to publication.
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