Employee Benefits

NOVEMBER 15, 2023

Need to know: Employers can tailor content and communication channels to different employee groups to help with their pensions knowledge. Losing the jargon will make the language of pensions easier to understand and more relevant to staff. They could invest in financial coaching for a more personal approach to pensions education.

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Pension Retirement Plan Education Finance 111

Employee Benefits

MARCH 7, 2024

Image credit: photocosmos1 / Shutterstock.com Chancellor of the Exchequer, Jeremy Hunt (pictured), delivered his Spring Budget speech in the House of Commons on Wednesday 6 March. appeared first on Employee Benefits.

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Pension Employee Benefits Government Insurance 105

Employee Benefits

MAY 22, 2024

It is generally acknowledged that, despite the success of pensions auto-enrolment , saving the minimum contribution levels will not lead to a comfortable standard of living in retirement. Pensions can also seem too abstract to think about. The complexity of pensions and lack of financial education is another factor, Blake adds.

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Pension Employment Salary Retirement Plan 59

Employee Benefits

APRIL 3, 2024

Credit: MAHATHIR MOHD YASIN / Shutterstock.com Global battery and lighting brand Energizer Group has completed a £44 million pensions buy-in for its Energizer UK Pension Plan. The post Energizer Group completes £44 million pension buy-in appeared first on Employee Benefits.

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Pension Government Consulting Insurance 59

Employee Benefits

MAY 16, 2024

Technology firm Siemens and Stockton-on-Tees Borough Council are among the employers shortlisted for Best pensions strategy at the Employee Benefits Awards 2024. A Howden spokesperson said: “We worked really hard with our pensions strategy. View the shortlist For more information and to book your table.

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Pension Entertainment Engineering Education 59

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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Pension Employment Salary Medical 59

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.

Pension 111

Pension Taxes Government Salary 111

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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Pension Telecommunication Insurance Employee Benefits 52

Employee Benefits

JULY 25, 2023

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.

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Pension Net Pay Taxes Salary 96

Employee Benefits

FEBRUARY 23, 2024

Retailer Spar UK has completed an £11 million buy-in transaction for its UK pension fund. Before approaching the market, the trustees worked to equalise guaranteed minimum pensions within the fund. This is especially notable given the unprecedented demand in the pension risk transfer market.

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Pension Retail Government Insurance 59

Employee Benefits

MARCH 5, 2024

Employee Benefits poll: More than one-third (39%) of organisations said that private medical and dental insurance is the most popular form of employee financial support that they offer, according to a survey of Employee Benefits readers.

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Medical Insurance Pension Finance 105

Employee Benefits

NOVEMBER 13, 2023

Deutsche Bank has completed a £500 million buy-in for its UK pension scheme , its first to include deferred members. This takes the scheme’s total buy-ins to £1,500 million, including a £570 million buy-in between Legal and General and Deutsche Bank pension scheme in February 2021.

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Pension Banking Insurance Employee Benefits 59

Employee Benefits

APRIL 17, 2024

Pension salary sacrifice schemes are not a new concept, but one that all employers should consider, especially at a time where the tax burden on both employers and employees is high. reduction in its national insurance (NIC) bill. Communication is key to the implementation of a successful pension salary sacrifice scheme.

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Pension Salary Taxes Insurance 59

Employee Benefits

MARCH 9, 2022

New research has found the gender pension gap between men and women’s contributions is 35% for employees aged between 50 and 54, almost double the gap for 35 to 39 year-olds (18%). There is never a perfect time to increase pension contributions, but a phased approach should help to ease any sudden financial impact on employers and employees.

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Pension Insurance Employee Benefits Employment 111

Employee Benefits

OCTOBER 25, 2023

Credit: Tony Baggett / Shutterstock.com British Red Cross has completed a £30 million buy-out deal for its pension fund and the British Red Cross Society’s Scottish branch retirement benefits scheme. The post British Red Cross completes £30 million pensions buy-out appeared first on Employee Benefits.

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Pension Construction Finance Insurance 64

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

OCTOBER 17, 2023

Pension consulting and administration business XPS Pensions Group has been awarded menopause-friendly accreditation ahead of World Menopause Day (18 October). Ben Bramhall, co-chief executive officer at XPS Pensions Group, said: “We are delighted to have achieved accreditation as a menopause friendly employer.

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Pension Employment Retail Bonuses 59

Employee Benefits

NOVEMBER 28, 2023

Askews and Holt Library Services has completed an £11 million pensions buy-in deal. The transaction with Legal and General, which was made possible by a discretionary one-off contribution from the employer, covers 64 pensioners and 22 deferred members. The scheme will now proceed to a full buy-in and wind up.

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Pension Consulting Insurance Employee Benefits 59

Employee Benefits

JANUARY 12, 2024

More than a third (36%) of British employees will continue working past state pension age because they do not think their pension will cover their day-to-day expenses , according to research by Canada Life. The post 36% will work past state pension age to cover daily expenses appeared first on Employee Benefits.

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Employee Benefits

MAY 4, 2023

A quarter (26%) of large employers have seen an increase in the number of pension scheme opt-outs among employees in the face of the cost-of-living crisis , according to research by Cushon. The majority (84%) of those with a workplace pension agreed that increased financial education around pensions would be helpful.

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Pension Employment Salary Finance 81

Employee Benefits

SEPTEMBER 18, 2023

Private medical insurance (PMI) has become the most important perk that employees look for in their benefits package, according to new research by Zest. The research found that one-third (32%) of employees rank PMI ahead of other benefits , such as increased pension contributions (30%), high street discounts (21%) and a company car (17%).

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Medical Insurance Employee Benefits Healthcare 115

Money Talk

SEPTEMBER 28, 2023

It should include essential living expenses, discretionary living expenses, and guaranteed sources of income such as Social Security, an annuity, or a pension. For example, instead of two Social Security checks, there will be one, along with a reduced (survivor) pension benefit.

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Pension Pension Benefit Insurance Taxes 187

Employee Benefits

NOVEMBER 23, 2023

A number of key announcements were made that will affect pay , pensions and benefits. Autumn Statement: Government announces plans to offer pension pot for life Autumn Statement: State pension to increase by 8.5% appeared first on Employee Benefits.

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Pension Employee Benefits Government Consulting 59

Employee Benefits

AUGUST 9, 2023

Smith and Nephew UK Pension Fund has completed a £260 million buy-in deal. The transaction with Rothesay, which secures the benefits of 1,885 pensioners and dependants, as well as 2,315 deferred members, is the final transaction securing the fund’s objective of insuring all of its members’ benefits.

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Pension Consulting Medical Insurance 52

Employee Benefits

MAY 9, 2023

Travel business Thomas Cook has completed a £900 million bulk purchase annuity buy-in transaction for its UK pension scheme. Aviva insured the defined benefit (DB) pension liabilities for more than 12,500 scheme members following the liquidation of the business in 2019.

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Pension Pension Benefit Insurance Employee Benefits 59

Employee Benefits

JANUARY 16, 2024

Aviva insured the plan liabilities to remove the investment and longevity risk for around 1,500 plan members, who will see no change in the benefits they receive. The post Office Depot UK completes £140 million pensions buy-in appeared first on Employee Benefits.

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Pension Insurance Employee Benefits IT 59

Employee Benefits

SEPTEMBER 6, 2023

For employers, determining the contributions to a workplace pension scheme depends on the pensionable earnings of their employees. This article will explain the different methods for calculating pensionable earnings and how these methods affect pension contributions and tax efficiency. Employee contribution (inc.

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Workers' Compensation Perspectives

APRIL 29, 2024

Many workers’ compensation jurisdictions and work-disability insurers have noted increasing mental disorder (also called psychological injury, mental injury) claims over time. The Canada Pension Plan Disability (CPP-D) system covers persons with contributions to the plan who suffer a “severe and prolonged” disability.

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Disability Insurance Workers’ Compensation Insurance Pension 52

Employee Benefits

SEPTEMBER 20, 2023

Yet, many businesses might be inadvertently losing money because they lack a competitive pension package. Therefore a business with a team of 100 could pocket savings of up to £65,000 annually with a strategic pension plan. By presenting a more enticing pension proposal, firms can foster greater employee loyalty.

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Pension Salary Taxes Employee Loyalty 59

Employee Benefits

JANUARY 12, 2023

Interserve, a construction firm that went into administration in 2019, has completed a £400 million buy-in for its pension scheme members. The transaction was conducted with provider Aviva, and secured the benefits of more than 7,000 scheme members and follows a £300 million pensioner-only buy-in that took place in 2014.

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Pension Construction Professional Services Insurance 59

Workers' Compensation

MARCH 8, 2022

A February 2021 investigative report by the NJ State Comptroller raised critical issues common to other state and national collateral social insurance programs challenged by current fiscal limitations. Cost shifting by employers and workers’ compensation insurance companies is a national issue. Cost-Shifting The D.W.C. No change.)

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Pension Workers’ Compensation Medical Disability Insurance 64

Employee Benefits

AUGUST 24, 2023

For employers, setting up an auto-enrolment pension plan for your staff is a must. This guide will delve into the intricacies of auto-enrolment pensions and how to effectively manage them. Understanding Auto Enrolment At its core, auto enrolment means establishing a pension system by the employer for the benefit of their employees.

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Pension Employment Net Pay Salary 52

Employee Benefits

NOVEMBER 25, 2022

Huddersfield-based children’s Hospice charity Forget Me Not has launched a salary sacrifice pension arrangement in order to look after the financial wellbeing of its 140 employees. This is then paid into their pension account before national insurance and tax is taken from their salary.

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Pension Salary Taxes Finance 59

Employee Benefits

APRIL 27, 2023

Pensions dashboards will give employees more visibility than ever before regarding their retirement savings. All pension pots, and the state pension, will be shown digitally in one place. But it’s pension schemes, not employers, which will need to manage this project. What does this mean for employers?

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Pension Employment Insurance Employee Benefits 52

Employee Benefits

MARCH 21, 2023

Insurers Phoenix Group and Aviva, and law firm Herbert Smith Freehills are among those that have signed up to become living pension employers , a scheme launched today (21 March) by the Living Wage Foundation. The standard was introduced following research among 3,000 people who saved into a pension in the past year.

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Pension Employment Salary Insurance 52

Employee Benefits

JULY 6, 2023

But your workplace pension setup could be causing this wastage right under your nose, without you even being aware. Workplace pension contributions are fantastic as a concept, offering long-term financial stability and nurturing a productive and motivated workforce. Remember, your workplace pension is your priciest benefit.

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Pension IT Finance Taxes 52

Employee Benefits

NOVEMBER 22, 2023

Class 1 national insurance contributions (NICs) will be cut to 10% from 6 January 2024. Clare Moffat, pensions and tax expert at Royal London, said: “Ultimately, NI is another tax to be paid, so any saving is a good one. Any NI reduction will only help those who are working and those under state pension age.”

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Insurance Pension Taxes Salary 59