Employee Benefits

NOVEMBER 23, 2023

Autumn Statement 2023: Chancellor of the Exchequer, Jeremy Hunt, delivered his Autumn Statement speech in the House of Commons on Wednesday 22 November. A number of key announcements were made that will affect pay , pensions and benefits. appeared first on Employee Benefits.

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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. This will be effective from April 2023. ” He added: “This is a comprehensive plan to remove barriers to work.”

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Employee Benefits

DECEMBER 1, 2023

Two-thirds (66%) of full-time UK employees regard contributory pensions and savings as important, according to research by Employee Benefits Isle of Man. The post 66% of full-time UK staff think contributory pensions are important appeared first on Employee Benefits.

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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. ” He added: “The issue goes wider than doctors.

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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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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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Employee Benefits

JANUARY 31, 2024

Pensions law firm Sacker and Partners has become a living pension employer. Sackers joins other employers which have received living pension accreditation, including Aviva, Wealthify, Phoenix Group, Herbert Smith Freehills and SSE.

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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.

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Employee Benefits

JANUARY 30, 2024

The Department of Work and Pensions (DWP) has published the final version of the Occupational Pension Schemes (Funding and Investment Strategy and Amendment) Regulations 2024 and a consultation response. The post DWP publishes updated occupational pension schemes regulations appeared first on Employee Benefits.

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Employee Benefits

NOVEMBER 10, 2023

Credit: Alasdair Jones / Shutterstock.com Scottish energy firm SSE has been accredited as a living pension employer to provide financial stability and security. The living pension savings target is 12% of a full-time employee earning a living wage salary , of which the employer pays in at least 7%.

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Employee Benefits

AUGUST 2, 2023

Telecommunications firm BT’s pension scheme has entered into a longevity reinsurance arrangement with Reinsurance Group of America (RGA), which covers £5 billion of pensioner liabilities. The new arrangement follows the £16 billion of liabilities covered by a similar deal that the BT Pension Scheme entered into in 2014.

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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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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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Employee Benefits

NOVEMBER 27, 2023

Last week, Employee Benefits reported that Chancellor of the Exchequer Jeremy Hunt announced plans to offer a pension pot for life in the Autumn Statement 2023. In light of this, do you think the pension pot-for-life plan will help employees to manage their pension? appeared first on Employee Benefits.

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Employee Benefits

JANUARY 22, 2024

Pensions and Future Planning Contrary to stereotypes, Gen Z actually places significant importance on pension benefits for future planning. In our report, pension needs ranked closely behind work-life balance in terms of importance, with an average score of 7.52. out of 10 in the findings from our exclusive report.

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Employee Benefits

JANUARY 29, 2024

Last November, Employee Benefits reported that Chancellor of the Exchequer Jeremy Hunt announced plans to offer a pension pot for life in the Autumn Statement 2023. In light of this, do you think the pots-for-life plan will increase employees’ engagement with their pensions? appeared first on Employee Benefits.

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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.

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Proskauer's Employee Benefits & Executive Compensa

FEBRUARY 13, 2023

As previously discussed , the Pension Benefit Guaranty Corporation (the “PBGC”) issued final regulations in July 2022 for plans that receive special financial assistance (“SFA”) under the American Rescue Plan Act of 2021 (“ARPA”). Although the regulations were “final,” the PBGC invited comments on the phase-in rule in particular.

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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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HR Digest

MARCH 22, 2023

As France grapples with an aging population and a pension system deficit, the government’s proposal to raise the retirement age and cut pension costs has sparked a wave of protests and strikes across the country. Join the debate and share your thoughts on the France Retirement Age Protest and 2023 French Pension Reform Strike.

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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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Employee Benefits

MARCH 17, 2023

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

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Employee Benefits

JANUARY 17, 2023

With increasing costs continually putting pressure on household finances, 2023 is set to be a financially challenging year for many. To help, WEALTH at work, a leading financial wellbeing and retirement specialist, shares its money management tips to help employees budget, save and stay on top of their finances throughout 2023.

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Employee Benefits

AUGUST 7, 2023

Helen Tomlinson, head of talent UK and Ireland at The Adecco Group and government menopause employment champion, will delievr a session on women’s health at Employee Benefits Live 2023. Employee Benefits Live 2023 will take place on Tuesday 3 and Wednesday 4 October 2023 at ExCeL London.

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Employee Benefits

MARCH 15, 2023

The Chancellor of the Exchequer Jeremy Hunt, has today delivered the Spring Budget 2023. Please see our summary below: Pension allowances The Government will remove the Lifetime Allowance charge, before completely abolishing it in a future Finance Bill, and raise the Annual Allowance to £60,000 from April 2023.

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Employee Benefits

NOVEMBER 17, 2023

year-on-year The post The top 10 most-read articles between 10 – 16 November 2023 appeared first on Employee Benefits. year-on-year The post The top 10 most-read articles between 10 – 16 November 2023 appeared first on Employee Benefits. The top 10 most-read articles on employeebenefits.co.uk

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Employee Benefits

AUGUST 22, 2023

UK Workplace Pension Regulations: What Every Employer Should Know In the dynamic landscape of finance, grasping the nuances of workplace pension regulations might be daunting. A pension serves as a cornerstone for ensuring comfort and security in retirement. But is every business obliged to offer a pension?

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Employee Benefits

DECEMBER 1, 2023

between 24 – 30 November 2023 were: Apple, Microsoft and UKG named World’s Best Companies of 2023 Cumberland Building Society launches neurodiversity toolkit Boots completes £4.8 billion pension scheme buy-in Foster Denovo Group acquires benefits arm of Punter Southall Aspire Shell UK reports -31.4%

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Employee Benefits

MARCH 29, 2023

Next January, all going well, approximately 750,000 workers in Ireland will start being automatically enrolled into a new workplace pension scheme that will be co-funded by their employers and the State. The scheme is aimed at addressing the national pension coverage gap. It’s not as if we haven’t talked about it.

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Employee Benefits

MAY 10, 2023

Fashion brand Stella McCartney and law firm Herbert Smith Freehills are among those employers on the shortlist for Best pensions strategy at the Employee Benefits Awards 2023. A spokesperson for the university said: “We’re delighted to win, we really didn’t think we stand a chance of winning in a category about pensions.

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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. This year’s awards comprise 23 categories, including pensions, mental health, motivational benefits and financial wellbeing.

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Employee Benefits

DECEMBER 8, 2023

mean hourly gender pay gap WPP promotes Lindsay Pattison to global chief people officer The post The top 10 most-read articles between 1 – 7 December 2023 appeared first on Employee Benefits. The top 10 most-read articles on employeebenefits.co.uk The top 10 most-read articles on employeebenefits.co.uk

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Money Talk

APRIL 11, 2024

The 2023 income tax filing deadline is only days away (April 15, 2024 in most of the U.S.). The maximum contribution for traditional IRAs for 2023 was $6,500 for workers under age 50 and $7,500 for those age 50+. It will be a busy weekend for many taxpayers and tax preparers who are filing tax returns or tax filing extensions.

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Employee Benefits

MAY 24, 2023

Law firm Herbert Smith Freehills and kitchen furniture business Howdens have been shortlisted for Best pensions communications at the Employee Benefits Awards 2023. This award was created to celebrate a successful strategy that boosts employee knowledge and understanding of pensions, and the need to plan for retirement.

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Employee Benefits

JANUARY 2, 2023

Yet there will always be a need for human involvement, particularly around financial benefits, says Alexis Parrish, head of benefits technology at pensions advisory firm Isio. “We Developments in 2023 are likely to be modest, as technology teams seek to develop best practices and agree common standards.

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Employee Benefits

AUGUST 4, 2023

between 28 July – 3 August 2023 were: High Court rules BBC cannot change pension to cut future benefits Mitchells and Butlers completes £1.2 billion pension buy-in Woolworths Group faces charges for underpaying long service leave Teachers in England accept 6.5% The top 10 most-read articles on www.employeebenefits.co.uk

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Employee Benefits

JANUARY 20, 2023

HR, reward and benefits professionals who want their organisation or team to be in with a chance of winning at the Employee Benefits Awards 2023 have just one week left to enter. Meanwhile, the Best pensions strategy award will recognise an employer that has developed a pensions strategy that best meets the needs of its workforce.

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