Employee Benefits

MARCH 26, 2024

Ride-hailing operator Bolt is to launch a pension scheme for its 65,000 UK registered private hire vehicle drivers from 1 May 2024. Through the scheme, which is provided by Aviva, drivers will be able to contribute 5% of their fees from every completed trip into their pension pot, to which Bolt will add a further 3% contribution.

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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

MARCH 6, 2024

Chancellor of the Exchequer Jeremy Hunt will deliver his Spring Budget 2024 speech at 12.30pm on Wednesday 6 March 2024. Stay tuned to the Employee Benefits website for all the latest updates on how the Spring Budget could impact pay, pensions and benefits for employers and staff.

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Employee Benefits

APRIL 26, 2024

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

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Employee Benefits

MARCH 6, 2024

Spring Budget 2024: The Pensions Regulator (TPR) and the Financial Conduct Authority (FCA) will have a full range of regulatory powers to ensure employers are adhering to the Value for Money (VFM) framework. “We welcome the aim to target good investment returns for every member.

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Best Money Moves

MARCH 11, 2024

The 4 best benefits in 2024, according to employees. Here are the 4 best benefits in 2024, according to employees. In fact, according to Forbes Advisor , 40% of employers believe that workers would leave their current jobs to find employment that offers better benefits.

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Best Money Moves

MARCH 26, 2024

5 key insights about the gig economy in 2024. Here are 4 key takeaways and trends from the gig economy in 2024. workforce, with many participating in the gig economy in addition to other, full-time employment. Here are 5 key takeaways from the gig economy in 2024.

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Employee Benefits

APRIL 5, 2024

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

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Employee Benefits

JANUARY 22, 2024

The deadline for the Employee Benefits Awards 2024 has been extended until midnight on Friday 9 February to give HR, reward and benefits professionals more opportunity to enter. There is no limitation regarding the number of award categories each employer can put themselves forward for. See all the categories and enter now.

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Employee Benefits

FEBRUARY 2, 2024

National Insurance (NI) is reducing from 12% to 10% from January 2024. a year in NI contributions and be able to pay additional 1.06% of their salary into their workplace pension at no additional cost to them. When made into a pension contribution it is worth £212.29 When made into a pension contribution it is worth £783.71.

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Employee Benefits

JANUARY 26, 2024

between 19 – 25 January 2024 were: Lidl GB gives pay rise to 26,000 hourly-paid employees FCA manager loses full-time work from home claim Mitie, The Perfume Shop and NFU Mutual UK certified as UK top employers Lloyds Banking Group reports 5.7% The top 10 most-read articles on employeebenefits.co.uk

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Employee Benefits

DECEMBER 19, 2023

When it comes to big purchases, such as if a washing machine breaks, discount vouchers are often available through voucher and discount websites, and some people also have access to discount schemes through their employer. Many employers offer payroll-deducted savings schemes for effortless saving.

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Employee Benefits

FEBRUARY 28, 2024

Its Pay, performance and transparency 2024 report, which surveyed 832 decision-makers from the private, public and voluntary sectors, also found that 62% always or sometimes publish salary range information in external job adverts, while 38% have either not done so, though they may plan on doing so this year, never do so, or do not know.

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Higginbotham

FEBRUARY 19, 2024

29, 2024 for Calendar Year Plans Each year, group health plan sponsors are required to complete an online disclosure form with the Centers for Medicare & Medicaid Services (CMS) indicating whether the plan’s prescription drug coverage is creditable or non-creditable. 29, 2024 (since 2024 is a leap year). 10, 2024, the U.S.

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Employee Benefits

FEBRUARY 2, 2024

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

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Employee Benefits

NOVEMBER 22, 2023

The national living wage is to increase from April 2024. Kate Palmer, HR advice and consultancy director at Peninsula, said: “It is important for employers to be aware of the increase to the national living wage so they can take the necessary steps to prepare in advance of April next year.

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Employee Benefits

MARCH 1, 2024

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

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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

DECEMBER 6, 2023

Following its call for evidence on consolidating small pension pots earlier this year, the Department for Work and Pensions (DWP) is launching a further consultation on proposals to introduce a lifetime provider model. Monitoring and enforcement by HMRC and the Pensions Regulator would also become more complex.

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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.). Baby Boomer Challenges - Baby boomers (born 1946-1964) were the first generation with the ability to save money for retirement in 403(b)s, 401(k)s, and IRAs for decades (their parent’s generation had pensions). There is no way out.

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HR Digest

APRIL 11, 2024

Forget the dry theory – we’ve compiled a list of the hottest HR reads of 2024 that will challenge your thinking, equip you with actionable strategies, and maybe even make you laugh (gasp!). The top books of 2024 delve into key areas like leadership, organizational culture, and employee relations.

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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. Improvement will remain in demand and employers will pay well to secure them.

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Money Talk

JANUARY 4, 2024

Employer Match- This is money contributed to employees’ retirement savings accounts to match what they save. Unclaimed Money - This is money held by state governments from a variety of sources including bank accounts, utility deposits, pension benefits, and insurance policies. Best wishes for a healthy, wealthy, and happy 2024.

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Employee Benefits

NOVEMBER 9, 2023

Gripple, a South Yorkshire-based manufacturer of wire joiners, tensioners and suspension solutions, and its sister returnable packaging solutions firm Loadhog, have received living wage employer accreditation. national living wage for workers aged over 23, which is set to rise to at least £11 an hour from April 2024.

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Employee Benefits

JANUARY 24, 2024

And, while most people are happy to watch the roller coaster ride from the sidelines, employers are beginning to consider crypto as part of their pay strategies. Glenn Cameron, investment consultant at actuarial and pension specialists Cartwright, believes one of the currencies, Bitcoin, will become mainstream. It is still very niche.

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Employee Benefits

MARCH 6, 2024

However, employer support is often focused on mothers, with less consideration given to the fact fathers are suffering too. Time off after a bereavement is not specifically catered for in law, but most employers do offer compassionate leave, although some only pay the statutory amount. The best employers are one step ahead of the law.

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Employee Benefits

FEBRUARY 7, 2024

By the time the average woman reaches the retirement age of 67, she will have saved a pension pot worth £69,000, which is £136,000 less than the average man, who will have saved £205,000 in the same period, according to research by Now: Pensions. By their late 50s, women will have built up just 62% of the pension wealth that men have.

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Employee Benefits

FEBRUARY 9, 2024

However, for employees without an in-depth knowledge of the pensions system, the time until they reach retirement may mean saving for this is low on their list of priorities. Individuals could face increased pressure should the state pension age increase further. Female employees are also likely to be particularly affected.

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Employee Benefits

APRIL 11, 2024

The Department for Work and Pensions has published new guidance to help employers better support disabled people. It covers areas such as employers’ legal responsibilities, the language they should use, reasonable adjustment and how to discuss performance and progression. The DWP said it forms part of its £2.5 million staff.

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Employee Benefits

APRIL 22, 2024

Employers should ask employees about their financial pressures to understand how to support them. Wealth at Work’s March 2024 report Many struggling to make ends meet found that 38% of workers admitted money worries affect their work performance by increasing stress levels, mental exhaustion (33%) and decreasing motivation (26%).

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Employee Benefits

DECEMBER 12, 2023

To achieve accreditation, employers are assessed by an independent panel and must demonstrate effectiveness through their culture , policies and practices, training, engagement, facilities and evaluation. There is always more that can be done and we, alongside all other accredited employers, will have key areas of focus into 2024 and beyond.”

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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%. As of 1 April 2024, staff have the choice to increase their pension contributions to 6%, with the airport contributing 10%.

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Employee Benefits

JANUARY 2, 2024

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

NOVEMBER 22, 2023

Class 1 national insurance contributions (NICs) will be cut to 10% from 6 January 2024. According to the government, which announced the move in the Autumn Statement, this means the average worker earning £35,400 will receive a tax cut in 2024-25 of more than £450. From next year, employees will pay 10% and 2% respectively.

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cipHR

NOVEMBER 13, 2023

Our head of talent offers her expert tips for better hiring in 2024 If you’re a head of HR or head of talent in a growing UK organisation, you probably don’t need us to spell out the scale of the recruitment challenges that lie ahead for 2024. Whether internal or external, recruitment challenges are never-ending for UK HR teams.

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Employee Benefits

JANUARY 23, 2024

This is more than the initial offer for 2024 and 2025, which was 8.5% Sharon Graham, general secretary at Unite, added: “This outstanding deal was achieved because our members knew the NAECI employers could not ignore their demands if they acted collectively.” The workers will receive an 11.3% rise from this month and at least 5.5%

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Employee Benefits

JANUARY 31, 2024

To support employees with their financial wellbeing, employers should review the benefits they already offer and check whether staff know how they can help. Financial wellbeing support can be tailored to match an employer’s budget and employees’ needs. For example, does the expenses policy require staff to wait six weeks to be paid?

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