Employee Benefits

APRIL 18, 2024

Public trust in the pensions industry has increased for the fourth consecutive year, according to research by third-party pensions administrator Trafalgar House. The results found that trust in the pensions industry rose to 5.26 out of 10 in 2023, up from 4.95 in 2022, 4.63 in 2021 and 4.46 and ‘a lot’ climbing 0.9%.

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Employee Benefits

FEBRUARY 12, 2024

More employers could introduce gender inclusive paid parental leave to prevent and try to close gender pension gaps. The Pensions (Extension of Automatic-Enrolment) (No. 2) Bill will remove the lower earnings limit, enabling more employees to pay into a pension. The Pensions (Extension of Automatic-Enrolment) (No.

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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

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. The final deadline for entries is Friday 10 February.

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Employee Benefits

MAY 8, 2024

The Chancellor announced powers that would be given to both the Financial Conduct Authority (FCA) and The Pensions Regulator (TPR) in legislation slated for as early as 2027, enabling them to enforce the value for money regime. The Chancellor also announced two policy intentions for pensions in the future, with specifics to follow.

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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

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 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

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

DECEMBER 14, 2023

The BP Pensioner Group has begun legal action against senior members of BP management and directors of the BP pension fund trustee due to concerns around the value of 2,500 members’ pensions. According to the BP Pensioner Group, the dispute is about decisions made by BP and the pension fund trustee in 2022 and 2023.

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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

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. The post EXCLUSIVE: One week left to enter Employee Benefits Awards 2023 appeared first on Employee Benefits.

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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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McNees

JANUARY 13, 2023

The Consolidated Appropriations Act of 2023 (“Act”) was passed by Congress in late December 2022 and signed by President Biden on December 29, 2022. trillion dollar spending bill, contains provisions which modify the laws applicable to welfare benefit plans and retirement benefit plans. Retirement Benefit Plans.

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Employee Benefits

DECEMBER 15, 2023

But as I look at all the wonderful families around me, families whose ideas of what ‘family’ means left the 1950s behind long ago, part of me worries that they may not appreciate that their pension scheme’s definition of ‘family’ might be much more traditional. 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

NOVEMBER 24, 2022

Entries for the Employee Benefits Awards 2023 are now open, with the event set to take place on Friday 23 June 2023 at the HAC London. The Employee Benefits Awards is the event of the year for the reward, benefits and HR community. To see all the categories and start entering, click here.

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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?

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Employee Benefits

JANUARY 18, 2023

One effective way in which employers can help drive employee engagement with pensions is by ensuring ease of access, so they can engage more easily and more regularly. In order to minimise jargon surrounding pensions, communication strategies should be easy to understand, inspiring, engaging and informing.

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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. Employers should also consider their communications and resources; once the dashboard project is live, they should expect questions and queries from employees.

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Employee Benefits

JANUARY 31, 2023

EXCLUSIVE: The deadline for the Employee Benefits Awards 2023, sponsored by Aon, has been extended until midnight on Friday 10 February, in order to give HR, reward and benefits professionals another chance to enter and win recognition for their achievements. To see all the categories and start your entry, click here.

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International Foundation of Employee Benefit Plans

JANUARY 13, 2023

Plan sponsors and administrators are encouraged to reference these comprehensive calendars to stay on track in 2023. Read more > The post 2023 Employee Benefits Reporting and Disclosure Calendars appeared first on Word on Benefits.

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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. Employers should ensure that employees who increase their contributions in line with this are not saving at a rate they cannot afford. Enter the living pension initiative.

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Employee Benefits

APRIL 10, 2023

Need to know: Increasing education about pensions is key to helping employees make the right decisions about accessing their pension savings early. The ability to access pension funds early could prompt changes to the way that pension providers invest for their members.

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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?

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Employee Benefits

FEBRUARY 8, 2023

EXCLUSIVE: A public sector organisation that has implemented a successful benefits package has the chance to enter a dedicated award category at the Employee Benefits Awards 2023. The post EXCLUSIVE: Public sector category open at Employee Benefits Awards 2023 appeared first on Employee Benefits.

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Vantage Circle

SEPTEMBER 23, 2023

In today's tough job market, businesses need to attract and keep the best employees to succeed. In 2023, employee benefits are important for businesses. Welcome to “Employee Benefits Guide for 2023: What Employers Need to Know.” Why Are Employee Benefits Important?

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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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Employee Benefits

JANUARY 22, 2024

To meet Gen Z’s needs, your organisation must promote the importance of a work-life balance from the beginning of the employee journey. Pensions and Future Planning Contrary to stereotypes, Gen Z actually places significant importance on pension benefits for future planning.

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Employee Benefits

MAY 9, 2024

The employees have stated that they have asked for an increase to pilot and technical crew salaries and allowances in line with the rate of inflation backdated to 1 April 2023, as well as an increase to the employer’s pension contribution rate. Bristow Helicopters was contacted for comment prior to publication.

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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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Employee Benefits

JANUARY 4, 2023

HR, reward and benefits professionals who want to win a table at the Employee Benefits Awards 2023 and receive the early bird entry rate only have two days left to submit their entries. The post Employee Benefits Awards 2023 gives entrants chance to win table for 10 appeared first on Employee Benefits.

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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 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. The winners for 2024 will be announced at the Employee Benefits Awards on Friday 14 June 2024 at the HAC London.

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Employee Benefits

DECEMBER 12, 2023

The Employee Benefits Awards 2024 are now open for entries, celebrating and honouring excellence in the HR, reward and benefits community. 2024’s event will feature 22 categories that are open for entries, ranging from pensions and motivation schemes, to mental health, financial wellbeing and healthcare.

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