Money Talk

MARCH 15, 2023

No Federal Insurance - There is no federal government insurance for annuities as there is for bank products (FDIC) and investment products (SIPC). Three Types- Fixed annuities are like CDs, only tax-deferred, and guarantee a certain interest rate for a specified time period. Best, Duff and Phelps, and Standard and Poor’s).

401(k) 244

401(k) Life Insurance Insurance Taxes 244

Money Talk

MAY 4, 2023

Inflation-induced price hikes on goods and services are like a regressive sales tax and hurt those with low incomes the most. More Attention to Asset Decumulation - Baby boomers were “guinea pigs” for voluntary self-directed retirement savings accounts and the decline of pensions.

Education 245

Education Finance Pension Taxes 245

Money Talk

JANUARY 4, 2024

Free money does not have any work requirement, however, and is often income tax-free. Common sources are businesses, individuals, and the government. 50% for a fifty cent per employee dollar saved match) and is taxed as ordinary income in retirement. Like inheritances, life insurance is generally not subject to income tax.

Life Insurance 176

Life Insurance Retail Pension Benefit Taxes 176

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

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 million lost pension pots sitting unclaimed because they’ve been simply lost or forgotten about.

Pension 105

Pension Electronics Finance Government 105

Money Talk

JULY 29, 2022

Widespread data hackings are increasingly common, whether it is a credit bureau (Equifax in 2017), a hotel (Marriott in 2018), an online game producer (Zynga in 2019) a federal government agency (OPM in 2015), or an Internet media company (Yahoo! bank and investment accounts, pension, Social Security) should have a two-factor (a.k.a.,

Banking 275

Banking Pension Media Finance 275

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

MARCH 15, 2023

Spring Budget 2023: In his Budget address to the House of Commons today (15 March 2023), Chancellor of the Exchequer Jeremy Hunt addressed the issue of unpredictable pension tax charges causing employees to leave work, particularly within the NHS. No one should be pushed out of the workforce for tax reasons.”

Pension 64

Pension Taxes Government Bonuses 64

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

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 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. Approximately 32% want the current tax system to be amended to support long-term saving over the next three-to-five years.

Pension 72

Pension Government Taxes Employee Benefits 72

Money Talk

JANUARY 26, 2023

lawn care, tax preparer, hair dresser), natural gas for home heating, electricity, and auto and homeowners insurance. Personal Inflation Rate - The official government CPI rate announced each month is not the same as people’s personal inflation rate which varies according to age, income, health status, and other variables.

Finance 186

Finance Pension Government Banking 186

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. Then there is the issue of tax relief for low earners.

Pension 72

Pension Net Pay Government Taxes 72

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

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

Vantage Circle

MARCH 25, 2025

Retirement Plans (401(k) & Pensions) A robust 401(k) match or pension plan is a powerful signal that a company views its employees as long-term partners, not disposable resources. And always remember that the government offers tax credits for small businesses that provide employee benefits.

Employee Benefits 85

Employee Benefits Family and Medical Leave Act 401(k) PTO 85

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. Are there any tax or legal issues?

Pension 59

Pension Government Taxes Deductible 59

Employee Benefits

MARCH 15, 2023

Spring Budget 2023: Chancellor of the Exchequer Jeremy Hunt announced in his Budget statement today (15 March 2023) that government will abolish the lifetime allowance for pensions. Jeremy Hunt’s decision to raise the tax free pension allowance will help retain older staff who want work to pay.”

Pension 59

Pension Taxes Government Employment 59

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.

Pension 59

Pension Pension Benefit Government Taxes 59

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

APRIL 10, 2023

Need to know: Increasing education about pensions is key to helping employees make the right decisions about accessing their pension savings early. The ability to access pension funds early could prompt changes to the way that pension providers invest for their members.

Retirement Plan 64

Retirement Plan Pension Taxes Education 64

Employee Benefits

MARCH 17, 2023

The top 10 most-read articles on www.employeebenefits.co.uk

Parental Leave 98

Parental Leave Pension Bonuses Government 98

Employee Benefits

AUGUST 21, 2023

The workplace pension master trust scheme’s research, which polled around 1,500 DC savers, highlighted that savers are not aware they receive tax relief on their contributions, which is money from the government that they can claim when saving into their pension.

Pension 97

Pension Retirement Plan Government Taxes 97

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

JULY 10, 2024

Employer-funded healthcare trusts are an established, tax-efficient way to deliver the benefit of medical treatment to employees without having to buy employer-paid health insurance. Once established, the trust’s governance is overseen by the employer and the trustees.

Healthcare 109

Healthcare Employment Taxes Insurance 109

Employee Benefits

SEPTEMBER 20, 2023

The Pensions (Extension of Automatic Enrolment) (No. The bill, introduced in the House of Commons by Jonathan Gullis MP and taken through the House of Lords by Baroness Altmann, will see the age at which eligible workers must be automatically enrolled into a pension scheme lowered from 22 to 18. 2) Bill has received Royal Assent.

Pension 59

Pension Government Consulting Taxes 59

Employee Benefits

JULY 8, 2024

Credit: UK government, under Attribution 3.0 Unported Deed, resized Liz Kendall, the re-elected MP for Leicester West, has been appointed as the secretary of state for work and pensions as part of the new Labour government established last week. Before this, she was shadow health minister.

Pension 59

Pension Government Finance Consulting 59

Employee Benefits

MARCH 4, 2024

Credit: Natata/Shutterstock Need to know: The abolition of the pensions lifetime allowance in April will require an overhaul of employee communications, and a revaluation of pension scheme design and administration, including opportunities to simplify the scheme and reduce the cost of running it.

Pension 59

Pension Pension Benefit Employment Taxes 59

Employee Benefits

NOVEMBER 22, 2023

The state pension will increase by 8.5% Jeremy Hunt, Chancellor of the Exchequer, announced the rise in the Autumn Statement, with the increase based on average earnings data published in September and in line with the government’s triple lock policy on pension changes. The post Autumn Statement: State pension to increase by 8.5%

Pension 59

Pension Taxes Government Employee Benefits 59

Employee Benefits

FEBRUARY 1, 2023

The Department of Work and Pensions (DWP) has launched a public consultation on a policy framework for broadening collective defined contribution (CDC) provision in pension schemes. The post Department of Work and Pensions launches collective defined contribution consultation appeared first on Employee Benefits.

Pension 64

Pension Consulting Government Employee Benefits 64

Employee Benefits

SEPTEMBER 20, 2023

Yet, many businesses might be inadvertently losing money because they lack a competitive pension package. Therefore a business with a team of 100 could pocket savings of up to £65,000 annually with a strategic pension plan. By presenting a more enticing pension proposal, firms can foster greater employee loyalty.

Pension 59

Pension Salary Taxes Employee Loyalty 59

Employee Benefits

MAY 8, 2024

The Chancellor announced powers that would be given to both the Financial Conduct Authority (FCA) and The Pensions Regulator (TPR) in legislation slated for as early as 2027, enabling them to enforce the value for money regime. The Chancellor also announced two policy intentions for pensions in the future, with specifics to follow.

Pension 59

Pension Government Consulting Employee Benefits 59

Employee Benefits

JULY 21, 2023

The Department for Work and Pensions and Department of Health and Social Care have published a consultation on ways to increase take up of occupational health provision. This will feature guidance, an option to pursue accreditation, and additional government support services, such as outreach workers to support SMEs to meet the standards.

Consulting 52

Consulting Government Pension Taxes 52