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National Insurance saving could be used to boost workplace pension

Employee Benefits

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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National insurance saving could be used to boost workplace pension

Employee Benefits

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 because of the tax and national insurance saving.

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The 4 Best Benefits in 2024, According to Employees

Best Money Moves

The 4 best benefits in 2024, according to employees. Here are the 4 best benefits in 2024, according to employees. Here are the best benefits in 2024 based on input from real workers. Average healthcare premiums for American families increased 7% in 2024, according to research from KFF.

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Top tips for employees retiring in 2024

Employee Benefits

It is important that those retiring in 2024 understand their options, make informed decisions, and avoid making mistakes with their hard-earned savings. To help, WEALTH at work, has created a list of top tips for employees who are thinking about retiring in 2024. Track down all pensions There are 2.8

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Tips to help employees take control of their finances in 2024

Employee Benefits

Outgoings can then be divided into fixed costs which have to be paid such as mortgage, rent, council tax, energy and water, and then those which you may be able to cut back on such as supermarket shopping, monthly contracts for TV, subscriptions and other spending. Some banks have apps which enable this to be done automatically.

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Autumn Statement: National insurance contribution rate cut to 10%

Employee Benefits

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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Does crypto currency have a role to play in employers’ pay strategies?

Employee Benefits

Crypto currency is subject to income tax when an employee receives it but could also incur a capital gains tax charge if they hold it for more than 30 days. It’s being used more for incentive schemes than to replace salary or bonuses,” she explains. Mainstream pay preference This could change.