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

JULY 24, 2023

After a week of negotiations with the Advisory, Conciliation and Arbitration Service (Acas) the Aslef Executive Committee and trade union RMT agreed to suspend the planned industrial action on Wednesday 26 and Friday 28 July after receiving confirmation that there would be no change to the pension scheme until 2026.

Pension 52

Pension Pension Benefit Transportation Government 52

Employee Benefits

FEBRUARY 17, 2023

This is particularly the case where employees are making healthy contributions to their pension scheme and perhaps receiving matching employer contributions. 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