Employee Benefits

OCTOBER 24, 2023

Conducted by global talent services firm Morgan McKinley as part of its 2024 Salary guide , the survey found that the top five desired benefits respondents look for in a job are working from home, bonus, pension, health insurance and flexible working hours. Benefits around wellbeing and flexibility remain top of the pile.”

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Benefits Package Salary Pension Health Insurance 118

Employee Benefits

DECEMBER 19, 2023

Start saving early – Starting to save when you are younger into ISAs and a pension means that the money has lots of time to grow. Many people already pay 5% of their salary into their workplace pension through auto-enrolment, with an additional 3% employer contribution.

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Finance Banking Pension Insurance 104

Employee Benefits

DECEMBER 20, 2023

It is important that those retiring in 2024 understand their options, make informed decisions, and avoid making mistakes with their hard-earned savings. To help, WEALTH at work, has created a list of top tips for employees who are thinking about retiring in 2024. Track down all pensions There are 2.8

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Employee Benefits

MARCH 11, 2024

The Bank of England has given its more than 5,000 employees a 4% pay rise along with a 1% salary top-up deal for 2024/25 as part of its aim to retain staff in a competitive jobs market. The deal, which was intended to match inflation , was accepted by the trade union that represents the bank’s employees.

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Banking Pension Benefit Pension Insurance 102

Employee Benefits

JUNE 29, 2023

In addition, airport employees can now increase their pension contributions to 4% and if they do so, their employer will contribute 8%. In addition, airport employees can now increase their pension contributions to 4% and if they do so, their employer will contribute 8%.

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Employee Benefits

NOVEMBER 22, 2023

Class 1 national insurance contributions (NICs) will be cut to 10% from 6 January 2024. Currently, employees pay 12% NICs on earnings above £12,570, and 2% on earnings above £50,270. From next year, employees will pay 10% and 2% respectively.

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Insurance Pension Taxes Salary 59

Employee Benefits

SEPTEMBER 29, 2023

The factory line workers, quality controllers, store workers and cleaners will receive a 10% increase backdated to 1 April 2023 and an additional 5.25% increase from 1 April 2024. The exception to this is for employees who join the group pension scheme, who are covered at four-times salary in the event of death.

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Employee Benefits

MARCH 7, 2024

A total of 25,000 employees out of 32,000 across the UK will receive a bonus in their pay packets at the end of March as a result of a 27% increase in profit to £188 million. The bakery chain also implemented an 8% overall wage and salary inflation in 2023 and expects to make around an increase of around 9.5%

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Bonuses Pension Benefit Manufacturing Pension 59

Employee Benefits

JANUARY 24, 2024

It’s being used more for incentive schemes than to replace salary or bonuses,” she explains. The volatility of the price means employees aren’t keen to switch from hard cash.” For these firms, it reinforces what they do but can also provide employees with an introduction to the concept. appeared first on Employee Benefits.

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Global Payroll Employment Taxes Pension 105

Employee Benefits

JANUARY 31, 2024

Financial wellbeing support can be tailored to match an employer’s budget and employees’ needs. Close Brothers Asset Management’s January 2024 report Spotlight on UK financial wellbeing found that only half of UK employers have a financial wellbeing strategy for their employees, despite the continuing cost-of-living crisis.

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Employee Benefits

JANUARY 12, 2024

Through the employer’s Employee TimeOut initiative, employees without an assignment from March to August 2024 can leave their role for between four and 12 weeks. This time away will be unpaid, but staff will receive a bonus worth 25% of their salary when they return.

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Employee Benefits

JANUARY 17, 2024

million lost working hours (Money & Pensions Service). Financially resilient employees = less anxiety and absenteeism – saving your business money! Prioritising employee financial wellbeing at work doesn’t just help your people but your business, too. Financial resilience matters! The business perks…?

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Employee Benefits

OCTOBER 10, 2023

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

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Employee Benefits

MARCH 6, 2024

Employers may consider offering staff membership of an income protection scheme that will cover their salary for a longer period. This should all be done with medical input from an employee’s GP or occupational health. This can lead to a bereaved parent returning to work before they are ready.

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Family and Medical Leave Act Employment IT Pension 59

Employee Benefits

APRIL 22, 2024

The frozen tax thresholds could see some employees ‘dragged’ into paying more tax and have less disposable income as a result. Employers should ask employees about their financial pressures to understand how to support them. A salary sacrifice arrangement can support employees who are dealing with the impact of fiscal drag.

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Employee Benefits

APRIL 17, 2024

Employees with poor mental health are likely to be more heavily impacted by financial worries and less likely to make sound financial decisions. Read on to explore the employee benefits that can help alleviate financial pressures during the cost-of-living crisis, enhancing mental health or wealth.

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Employee Benefits

DECEMBER 14, 2022

Events impacting pay, financial wellbeing and pensions. In terms of pensions, employers will be looking at how to position them to staff without a disposable income and how they can use their budget to support staff with retirement benefits if they cannot put it towards pay.”. This is likely to continue into the new year.

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