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

NOVEMBER 8, 2022

Prime Minister Rishi Sunak has appointed Laura Trott MBE as minister for pensions, after predecessor Alex Burghart officially held the role for less than one month. Trott was appointed on 27 October, and the Department for Work and Pensions (DWP) made the announcement on 7 November via its official Twitter account.

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Employee Benefits

FEBRUARY 16, 2022

Women need to be aware of the impact of career breaks and part-time working on their pensions, and how they may be able to mitigate the impact. Here are some practical tips for employers on how they can reduce the gender pensions gap. Find the root causes of the gap. ” Men should also know more about the issue, adds Bolan.

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Employee Benefits

JANUARY 15, 2024

Pre-retirement coaching can help to educate older employees on how to prepare for life away from work. Employers can offer this tool to employees through benefits providers, while the Department for Work and Pensions has a dedicated website.

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Employee Benefits

AUGUST 9, 2023

Credit: Richard Oldroyd / Shutterstock.com The University of Salford ensures it provides comprehensive financial wellbeing support and education that is targeted at all different groups of employees. These are hosted twice a year by a professional consultancy firm and are free of charge.

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Employee Benefits

NOVEMBER 6, 2023

Travel-related benefits, pensions and carbon-offsetting schemes can all help employees make a difference to their carbon footprint, and that of their employer. Green investments Pensions are another area where employers can have a significant impact.

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Employee Benefits

FEBRUARY 9, 2024

Many leading employers work with workplace specialists to deliver financial education and guidance programmes to help their employees achieve better financial outcomes, whether it is support with making investment decisions to build savings or accessing a pension for the first time.”

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Employee Benefits

JUNE 14, 2023

The cost-of-living crisis is putting employees’ financial wellbeing under significant pressure, with the Money and Pension Service’s Debt need survey , published in January 2023, finding that 40% of UK adults would benefit from some financial guidance or debt advice. Financial education can be really useful.”

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Employee Benefits

JANUARY 31, 2024

Its financial wellbeing package includes initiatives such as a group pension plan, workplace individual savings accounts (Isas), an online discounts platform, virtual and in-person money masterclasses and one-to-one financial coaching provided by Financial Conduct Authority-recognised financial coaches at Bippit.

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Employee Benefits

JANUARY 24, 2024

Glenn Cameron, investment consultant at actuarial and pension specialists Cartwright, believes one of the currencies, Bitcoin, will become mainstream. Lessons in crypto These differences and potential risks mean employee education is a must. “If Mainstream pay preference This could change.

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Employee Benefits

OCTOBER 4, 2023

Look for tools that facilitate clear and effective communication of benefits information to employees, such as personalised dashboards, notifications and educational resources. Training requirements should be minimal but on hand when required.” There are essentially two types of provider, says Kirk.

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Employee Benefits

FEBRUARY 15, 2023

Benefits that support financial wellbeing and education, including day-to-day budgeting and discounts, can help pay stretch further without raising pay. Financial education and wellbeing For those employers wary of hiking pay to unsustainable levels, the alternative might be to bolster their approach to financial education and wellbeing.

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Employee Benefits

JANUARY 17, 2024

million lost working hours (Money & Pensions Service). The youngest may crave financial education, whereas those in their prime will be looking towards retirement. Financial education & money management Younger generations, especially those fresh out of school, college or university, need financial education most.

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Employee Benefits

MARCH 28, 2023

Wealth at Work group (“the Group”) acquires Design Consulting Limited (trading as “Landscape”) – the employee engagement and pension communication specialist based in Southwark, London. Landscape already have a great reputation in our market, particularly in supporting occupational pension schemes.

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Employee Benefits

FEBRUARY 6, 2023

Financial education can be key to helping employees build future financial resilience. The cost-of-living problem is so large that it impacts all the key areas of financial wellbeing , such as everyday spending, saving, borrowing and planning, notes Andreas Hunter, employee benefits consulting lead at Buck.

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Money Talk

JANUARY 19, 2022

For example, workers with a guaranteed pension and/or a high investment risk tolerance might want to have more stock exposure in a TDF and would chose a target date farther off in the future. Estimate Future Retirement Income - Consult an online calculator to understand how a sum of money (savings) can turn into a stream of income.

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Employee Benefits

FEBRUARY 9, 2022

The use of online apps that provide insight into how pension funds are invested help provide feedback to employers on what is important to their employees. For any business that is serious about ESG, commissioning analysis of pension scheme investment is essential.”.

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InterWest Insurance Services

AUGUST 30, 2022

Defined benefit pension plans. Financial planning and education workshops. But just improving benefits or adding benefits without consulting staff can backfire. Beef up your communication and education efforts, both in person and via technology. Accidental death and dismemberment insurance. Critical illness insurance.

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cipHR

JULY 30, 2020

With money worries known to be a stressor and contributor to poor mental health, how much of that impact could be mitigated by greater financial support and education? Financial literacy and education should be on the mind of every employer, and form a foundational part of organisations’ reward and benefits packages. Pensions .

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Money Talk

JUNE 24, 2021

People with secure jobs or pensions and decreased expenses and spending opportunities saved more and/or reduced debt. Replenish Retirement Accounts - Consult with your employer HR department or plan custodian about steps to repay what you borrowed from a tax-deferred employer retirement savings plan such as a 401(k) or 403(b) plan.

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Employee Benefits

JANUARY 16, 2023

Samantha Gee, director of pay and reward consultancy Verditer Consulting, says: “Although still relatively high compared to previous years, this is significantly below current levels of inflation, meaning a pay decrease in real terms for many.

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Vantage Circle

SEPTEMBER 23, 2023

Stershic, Workplace Consultant. Pension Plans A pension plan is a benefit for employees. Pension plans provide a predictable retirement income based on a predetermined formula considering the final salary and years of service. . "The way your employees feel is the way your customers will feel. " - Sybil F.

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HR Bartender

SEPTEMBER 21, 2016

I recently had the chance to chat with Dean Aloise, global HR consulting leader for Xerox HR Services. Aloise] Actuarial science, particularly as it relates to valuing the liabilities of a pension plan, is a critical need in managing the retirement benefit programs for many organizations that sponsor a defined benefit pension plan.

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Employee Benefits

JULY 10, 2023

Low take-up rates do not always indicate a benefit is not popular: it may need an awareness or education campaign to boost engagement. Mark Pemberthy, benefits consultant at Buck, explains: “These will also generate management information, often anonymised, that can help an employer understand the needs of its workforce.

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15Five

APRIL 21, 2022

In a recent episode of the HR Superstars podcast , 15Five’s Chief Culture Officer, Shane Metcalf, was joined by First Person’s CEO & Founder, Bryan Brenner, and SVP & Consultant Paul Ashley to discuss the evolution of total rewards. bonuses, commissions) Long-term incentives (e.g. equity, stock options) Other compensation.

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Employee Benefits

NOVEMBER 21, 2022

A picture paints a thousand words, and this is true with total reward, says Sarah Robson, senior strategic consultant at Aon. In addition to offering financial education workshops and tools to help employees navigate their finances better, employers can also help by relaying the benefits of reward packages in financial terms, says Melling.

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LACE Partners

DECEMBER 10, 2021

An example of which is on-demand pay, salary linked savings or open banking - powered by budgeting tools and financial education. The post Financial wellbeing and its impact on the workforce appeared first on LACE Partners - Fundamentally different HR consultancy. Reach out to us and we’d be happy to talk.

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The Teacher's Advocate

SEPTEMBER 6, 2019

I'm often tasked by new public education clients to perform due diligence on their available 457(b) options with their employer and in most cases i'm horrified by what I find, it's a wasteland. In reality, the paper had a small impact among a few consultants (myself included) and a few school districts, otherwise it went completely unnoticed.

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Bayzat

FEBRUARY 15, 2024

Benefits Enrollment Choose and manage health insurance, pension plans, and other benefits electronically. Additionally, employees can compare different benefit options, access educational resources, and receive personalized recommendations based on their needs.

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Empuls

SEPTEMBER 28, 2023

Education costs : University tuition fees and the cost of private education remained a financial challenge for many families. Pension concerns : Some retirees faced challenges related to the adequacy of their pensions in covering their living expenses. Here are five cost of living bonus ideas: 1.

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cipHR

NOVEMBER 13, 2023

And, over the course of a career, it will impact many women’s lifetime earnings and may well have repercussions on their pension savings. Ciphr also offers off-the-shelf and bespoke eLearning content and diversity and inclusion consultancy services through its subsidiary Marshall E-Learning. million people (4.9

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Empuls

MAY 7, 2023

They provide a range of benefits and perks to employees beyond their regular wages, including health and wellness benefits, retirement benefits, time-off benefits, employee perks and discounts, and educational assistance. Retirement benefits Retirement benefits include pensions, 401(k)s, and other retirement savings plans.

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Vantage Circle

JUNE 7, 2021

A severance package includes a sum of money, continuation of insurance benefits, unused vacation time or sick days, stock options, assistance in pension plans and finding a new job, etc. For example, severance payment may be mandatory for all educational or public employees in some states. Consult a lawyer if you need so.

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HR Professionals Magazine

SEPTEMBER 2, 2021

As pensions have gone by the wayside and 401(k) plans have gained more notoriety, employees have become increasingly more aware of their employer sponsored retirement plans, and the financial benefits they provide. A financial consultant can help you draft an IPS to get you started. By Jim Trujillo. Well, yes and no.

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Empuls

SEPTEMBER 25, 2023

HR departments must promptly revise company policies to reflect these changes and should also engage in comprehensive training programs to ensure that staff are educated about these shifts in policy. Therefore, HR professionals need to consult closely with legal experts to draft, review, and update these contracts.

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cipHR

DECEMBER 20, 2018

Consultancy firm Deloitte reported that “organisations are shifting toward a model that empowers individuals to acquire valuable experiences, explore new roles, and continually reinvent themselves. Even at the most diverse of organisations, employees will disengage and leave if they don’t feel included and accepted. Enabling the workforce.

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Empuls

OCTOBER 4, 2021

“Some organizations have adopted "a culture of taking care of people," assessing the needs of their workforce based on factors such as age, education, demographics, and job level, and then offering segmented benefits to meet these needs.” Educational stipend. Health Insurance. Retirement benefits. Legal benefits.

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