Employee Benefits

NOVEMBER 22, 2023

The state pension will increase by 8.5% from April 2024. Jeremy Hunt, Chancellor of the Exchequer, announced the rise in the Autumn Statement, with the increase based on average earnings data published in September and in line with the government’s triple lock policy on pension changes. increase on the horizon for April 2024.

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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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Employee Benefits

MARCH 6, 2024

As announced in The Spring Budget, National Insurance (NI) is reducing from 10% to 8% from April 2024. a year in NI contributions and be able to pay an additional 1.03% of their salary into their workplace pension at no additional cost to them. When made into a pension contribution it is worth £206.39 1.53% £1,300.00

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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 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

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

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 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

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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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

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Best Money Moves

MARCH 11, 2024

The 4 best benefits in 2024, according to employees. Your benefits choices go a long way toward attracting the right employees. Here are the 4 best benefits in 2024, according to employees. To evolve your benefits strategy, you need to understand what will help your employees the most.

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Employee Benefits

JANUARY 19, 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 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

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

APRIL 5, 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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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

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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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. A failure to do so means that they not only will have to pay the arrears to the employee but could also have to pay a financial penalty and appear on a list of non-compliant employers which could cause the business reputational damage.”

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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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Proskauer's Employee Benefits & Executive Compensa

NOVEMBER 3, 2023

On November 1st, the IRS released a number of inflation adjustments for 2024, including to certain limits for qualified retirement plans. As expected, this year’s adjustments are more modest than last year’s significant increases. The table below provides an overview of the key adjustments for qualified retirement plans.

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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

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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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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Employee Benefits

OCTOBER 24, 2023

Almost six in 10 (59%) British workers feel unhappy, dissatisfied, highly dissatisfied or neutral with their benefits packages , according to new research. As many as 49% are optimistic that they will receive a salary increase in 2024, and 70% of employers plan to increase salary offers in 2024 for certain in-demand roles.

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Employee Benefits

MAY 13, 2024

Oxfordshire County Council and banking organisation TSB have been shortlisted in the category Best motivation or recognition scheme at the Employee Benefits Awards 2024. The benefits and reward schemes we offer play a part in that.”

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Entertainment Pension Banking Healthcare 59

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 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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Employee Benefits

JUNE 2, 2023

Credit: William Barton / Shutterstock.com Banking organisation Natwest Group has completed its acquisition of a majority shareholding in workplace savings and pensions fintech Cushon. The post Natwest Group completes acquisition of Cushon appeared first on Employee Benefits.

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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. In January 2024, the scheme had more than 19,000 members, employing around 11.5 The post Government launches new disability guide with CIPD appeared first on Employee Benefits. million staff.

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Employee Benefits

DECEMBER 12, 2023

BNP Paribas also wanted to be seen as an employer whch cares about wellbeing and understanding in the workplace and will continue to create an inclusive environment where its employees can be their best selves. The post BNP Paribas Corporate and Institutional accredited as menopause-friendly appeared first on Employee Benefits.

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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

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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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

JANUARY 23, 2024

This is more than the initial offer for 2024 and 2025, which was 8.5% pay increase appeared first on Employee Benefits. They are stationed at Stanlow, Fawley, Valero, Grangemouth, Mossmorran Oil Refineries and Sellafield Nuclear Facility. The workers will receive an 11.3% rise from this month and at least 5.5% respectively.

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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. million bonus among staff appeared first on Employee Benefits. The post Greggs to share £17.6

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