Employee Benefits

JULY 24, 2023

Several strike dates due to take place on the London Underground have been suspended following negotiations about potential reforms of Transport for London’s (TFL) pension scheme. A central government-demanded review of TFL’s pension arrangements, which is a condition of the 1 June 2021 £1.1

Pension 52

Pension Pension Benefit Transportation Government 52

Employee Benefits

MARCH 7, 2024

This will include the impact of the 10% national living wage increase and enhancement of its pension benefits, with staff now able to access up to 6% employer contributions. 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%

Bonuses 59

Bonuses Pension Benefit Manufacturing Pension 59

Employee Benefits

FEBRUARY 17, 2023

Therefore, people’s pension savings will likely start catching up with the frozen Allowance. This could particularly affect those who never check the value of their pension or haven’t done so for some time. Positive pension fund growth as well as a pay rise may easily push them over the LTA before they know it.

Pension 104

Pension Taxes Pension Benefit Salary 104

Employee Benefits

JANUARY 21, 2022

As announced in April’s Budget, the Lifetime Allowance (LTA) will be frozen at its current level of £1,073,100 until April 2026. million pension savers [1] are set to reach the limit and will be hit with a tax charge of 55% in retirement. Assumes growth rate of 5% and excludes charges on the pension plans.

Pension 52

Pension Taxes Pension Benefit Education 52