article thumbnail

Emily Whitelock: Pots-for-life plan could pose risk to employee pension engagement

Employee Benefits

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.

Pension 119
article thumbnail

Choosing the best workplace pension for your business

Employee Benefits

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
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Roadchef rolls out payroll and financial support for UK employees

Employee Benefits

They can choose to receive their payment instantly, send it to their savings account, or put it straight into their pension pot. According to Roadchef, it selected PayCaptain for its employees because of the unique employee benefits built into its payroll software.

Payroll 107
article thumbnail

Five common HR processes and tasks you should automate

cipHR

Automating the pay, benefit and reward process is important if both HR and payroll professionals want to save time and effort. When new hires join, an automated process can allow HR to quickly onboard them into the payroll system. Background checking and screening.

Pension 98
article thumbnail

What are the pros and cons of digital self-service pay systems?

Employee Benefits

The cost of a digital self-service pay system can be countered with the reduced administrative burden. With so many innovative and quirky ways of boosting employee engagement now in practice, reformatting a payroll system might at first seem like a very dull approach. Better experience.

Payroll 105
article thumbnail

Blockchain’s role in the future of HR

LACE Partners

Examples of this in an HR perspective would mean that employee information (personal details and financial information such as payslips, pension details, employee history or certification, and more) could be stored in the Blockchain and truly owned by the individual, rather than stored within organisations HR and payroll systems.

Banking 98
article thumbnail

Three things that make Ciphr’s platform the best HR and payroll software

cipHR

RTI reporting has been applied to all employers and pension providers since October 2013, and helps HMRC understand exact figures for pay-as-you-earn (PAYE) employees in real-time, rather than on an annual basis. Be cautious of limiting your future integration prospects with overly customised or on-premise payroll systems.