Employee Benefits

NOVEMBER 15, 2023

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. They could invest in financial coaching for a more personal approach to pensions education.

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Pension Retirement Plan Education Finance 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.

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Pension Taxes Government Salary 111

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

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

Employee Benefits

OCTOBER 16, 2023

A buy-in is a contract between a defined benefit pension scheme and an employer that removes longevity, market, interest and inflation risks. With this in mind, what is a pensions buy-in and how is it conducted? If an investment strategy underperforms, it may not generate sufficient returns to pay pensions in the future.

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Pension Insurance Consulting Government 105

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. Offering financial guidance and advice, as well as signposting to resources, will inform employees about what they need to know.

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Pension Education Finance Government 97

Money Talk

JUNE 8, 2022

Many older adults also have multiple income sources including Social Security, a pension, full-or part-time work or self-employment, withdrawals from retirement savings (including taxable required minimum distributions or RMDs), and interest, dividends, and capital gains on investments. In other instances (e.g.,

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Taxes Pension Deductible Deductions 278

Money Talk

APRIL 20, 2023

Off-Farm Job Employer Benefits - These include a defined benefit pension, an employer retirement savings plan (e.g., Simplified Employee Pension (SEP)- This is a retirement savings plan for self-employed workers and small business owners. 401(k), 403(b), 457 plan, and thrift savings plan), and other employer benefits (e.g.,

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401(k) Pension Retirement Plan Taxes 246

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 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

JUNE 3, 2024

A former director of 1066 Target Sports in St Leonards, East Sussex, has received a £15,000 fine for withholding legally-required pensions information. This caused a degree of distress to the people affected, as the money they thought was going into their pensions didn’t. It caused them real concern.”

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Pension Deductible Deductions Salary 59

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. ’ With details of where to look for more information. Whatever the change, some universal principles remain true.

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Pension Consulting Education Employment 98

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. Organisations should engage employees in their future finances by introducing schemes to improve financial literacy and provide better pensions information.

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Pension Finance Salary Government 98

Employee Benefits

APRIL 26, 2023

Need to know: The Department for Work and Pensions announced a delay to the delivery of the pensions dashboard programme in March 2023. Pensions dashboards are coming, and will allow individuals to access all their information online and in one place. Who will oversee the dashboards? What do employers need to do?

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Pension Food Government Employment 90

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

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?

Pension 96

Pension Employment Payroll Government 96

Employee Benefits

NOVEMBER 30, 2022

Pension scheme members may get a similar feeling if their scheme has a mandatory forfeiture rule and the trustees inform them their pension is less than it should have been. Requesting your full pension when you retire is not enough. You have probably got to do that for each instalment of underpaid pension.

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Pension Employee Benefits Employment IT 98

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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Pension Consulting Government Employee Benefits 75

Money Talk

MAY 18, 2022

2021) or 90% of current year (2022) tax liability using a W-4 form at work for job-related income tax withholding; withholding for Social Security, a pension, and required minimum distributions through account custodians; and/or quarterly estimated payments using IRS Form 1040-ES.

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Taxes 401(k) Deductible Deductions 263

Employee Benefits

OCTOBER 11, 2023

Lathey says: “An increase in the number of employees wanting to opt out of auto-enrolment pensions, for example, is often a leading indicator for increased financial stress throughout your workforce and a need for greater investment in financial wellbeing.

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Pension Benefits Package Salary Employee Benefits 105

Money Talk

SEPTEMBER 12, 2024

A married couple has four monthly income streams: $2,500- husband’s pension, $2,000- husband’s Social Security, $800- wife’s pension, and $1,500- wife’s Social Security for a total of $6,800 ($81,600 annually). The wife’s pension and Social Security would go away, however, which could still result in a decrease in household income.

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Pension Pension Benefit Taxes Entertainment 162

Money Talk

SEPTEMBER 30, 2022

Many events can affect IRMA including marriage, divorce, death of a spouse, taxable pensions, leaving the workforce, capital gains on the sale of assets, and the start of RMDs. A letter from the Social Security Administration (SSA) notifies beneficiaries of their expected benefit, including IRMAA deductions, if any.

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401(k) Taxes Pension Deductible 245

Money Talk

NOVEMBER 9, 2023

Pension Payment Sequencing - Taxpayers fortunate to have a pension may want to delay their work exit date/pension start date to do Roth conversions or realize capital gains on taxable accounts before RMDs begin. Individuals must “do the math” to see if this strategy will work.

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Pension Taxes Deductible Deductions 191

Money Talk

JUNE 16, 2022

Through Retirement” Planning ¨ Taxable Income Sources- Common types of taxable income in later life include pensions, distributions from workplace retirement accounts, and Social Security. Pensions and Annuities- A portion of the money that people receive in pension payments is not taxable because it is considered their basis (i.e.,

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Taxes 401(k) Retirement Plan Pension 188

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). And we’ll turn to that a little later.

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Pension Pension Benefit Employment Executive Compensation 98

HR Digest

AUGUST 30, 2024

Local 555 also stated that the employer was also offering a poor plan for compensating new hires and had no intention of sufficiently improving the pension plans as the union members had hoped. The post laying out the details of the discussion showed no restraint in expressing their feelings on the matter.

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Food Retirement Plan Pension Commissions 93

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. Meanwhile, a host of other industry-defining issues, from auto-enrolment to pensions tax reform, remain high on the industry’s to-do list,” he said.

Pension 72

Pension Government Taxes Employee Benefits 72

Money Talk

JANUARY 18, 2023

This includes Social Security recipients, retirees with COLA-adjusted pensions, and workers with COLAs stipulated in their job or union contracts. This post provides general personal finance or consumer decision-making information and does not address all the variables that apply to an individual’s unique situation.

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401(k) Banking Deductible Deductions 246

Money Talk

JULY 25, 2024

As a financial education solopreneur who works from home, I was happy join a group of kindred spirits to share information about each other’s products and services. This post provides general personal finance or consumer decision-making information and does not address all the variables that apply to an individual’s unique situation.

Employment 162

Employment Health Insurance Pension Deductible 162

Money Talk

MAY 4, 2023

More Attention to Asset Decumulation - Baby boomers were “guinea pigs” for voluntary self-directed retirement savings accounts and the decline of pensions. This post provides general personal finance or consumer decision-making information and does not address all the variables that apply to an individual’s unique situation.

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Education Finance Pension Taxes 245

Money Talk

MARCH 15, 2023

They are often bought with money from settlements, investment accounts, and pension plan lump sum distributions. This post provides general personal finance or consumer decision-making information and does not address all the variables that apply to an individual’s unique situation. Generally, variable annuities have the highest fees.

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401(k) Life Insurance Taxes Insurance 244

Employee Benefits

JANUARY 18, 2022

Then, when they’re ready, they want to understand how to turn their pension savings into an income for life. Companies might feel that providing a generous pension scheme is the most effective way to discharge their obligation to look after employees in later life. What’s more, our understanding of retirement is becoming more nuanced.

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Pension Pension Benefit Finance Salary 141

Employee Benefits

MARCH 13, 2023

Flexible pension policies can help employees shore up short-term financial wellbeing, while still saving for the future. In difficult periods, the ability to flexibly drop or pause pension contributions could be invaluable. One thing that might feel set in stone is pension contributions.

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Pension Benefits Package Deductible Deductions 64

Employee Benefits

AUGUST 21, 2024

Credit: Dilok Klaisataporn/Shutterstock Need to know: Significant amounts of money are tied up in small pension pots, many of which may have been forgotten. The Pensions Tracing Service can help people reconnect with lost pensions. Employers can help staff with this process and engage with pensions more generally.

Pension 64

Pension Retirement Plan Education Consulting 64

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. Employers do not have to have much say in how employees’ pension savings are invested. So, should pensions education be one of them?

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Pension Education Finance Government 69

Money Talk

MARCH 24, 2022

Sources of Retirement Income - Income sources include Social Security, employer defined-benefit pensions or defined-contribution retirement plans (e.g., This post provides general personal finance information and does not address all the variables that apply to an individual’s unique situation. 401(k)s), tax-deferred accounts (e.g.,

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401(k) Finance Entertainment Taxes 278

Money Talk

OCTOBER 11, 2023

Back-Up Income - When older adults start a business, they often have back-up income sources such as Social Security, a pension, or an annuity. Continued Growth and Learning - Entrepreneurship requires older adults to stay mentally sharp by keeping up with the latest information in their field and with technology advances.

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Employment Deductible Deductions Taxes 215