Employee Benefits

OCTOBER 17, 2023

Pension consulting and administration business XPS Pensions Group has been awarded menopause-friendly accreditation ahead of World Menopause Day (18 October). Ben Bramhall, co-chief executive officer at XPS Pensions Group, said: “We are delighted to have achieved accreditation as a menopause friendly employer.

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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 3, 2022

Nearly half (46%) of UK employers with defined contribution (DC) pension schemes say that delivering positive outcomes for members in this scheme is now their top priority, according to research by global professional services firm Aon.

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Employee Benefits

JANUARY 17, 2024

Credt: P Maxwell Photography/Shutterstock The pension pots-for-life plan take the onus off of employees to keep track of their pensions as they move jobs. Clarification is needed on how employers would manage the process of putting employees’ contributions into many different pension pots. Opinions differ. “I

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Workplace Insight

APRIL 22, 2024

This news comes amidst Prime Minister Rishi Sunak’s proposed benefit cuts for 420,000 sick and disabled individuals, aiming to push them into employment. Stephen Timms, chair of a work and pensions committee, acknowledged WHP’s limitations but emphasized its success in helping many find work.

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Employee Benefits

JUNE 26, 2023

Need to know: Collective defined contribution (CDC) pensions potentially offer a more sustainable way of funding pensions and reducing pension liabilities for some employers. Clear and effective communication from employers will be key to keeping employees well-informed about the implications and benefits of CDC schemes.

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Employee Benefits

AUGUST 14, 2023

Need to know: Change will happen when it comes to employers’ pensions plans. An employer should really get to know the audience of employees and meet them where they are. But when change happens in areas that are not well understood, like pensions , people can sometimes assume that any news is bad news.

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Employee Benefits

AUGUST 22, 2023

UK Workplace Pension Regulations: What Every Employer Should Know In the dynamic landscape of finance, grasping the nuances of workplace pension regulations might be daunting. A pension serves as a cornerstone for ensuring comfort and security in retirement. But is every business obliged to offer a pension?

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Employee Benefits

AUGUST 24, 2023

For employers, setting up an auto-enrolment pension plan for your staff is a must. This guide will delve into the intricacies of auto-enrolment pensions and how to effectively manage them. Since its inception in 2012, it became mandatory for qualified employees to be part of a workplace pension. Their income.

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Employee Benefits

NOVEMBER 22, 2023

The government is to consult on expanding the Pension Protection Fund’s (PPF) role to act as a consolidator for defined benefit (DB) pension schemes that are deemed “unattractive to commercial providers” and are not currently served by the market. Any public consolidator must be voluntary and separate.”

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Employee Benefits

JULY 21, 2023

The Department for Work and Pensions and Department of Health and Social Care have published a consultation on ways to increase take up of occupational health provision. The proposals include introducing a national health at work standard for all employers to provide a baseline for quality occupational health provision.

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Employee Benefits

JANUARY 12, 2024

Credit: JHVEPhoto / Shutterstock.com Professional services and accounting firm Ernst and Young (EY) is to allow its UK consultant employees to take time away from their roles. Through the employer’s Employee TimeOut initiative, employees without an assignment from March to August 2024 can leave their role for between four and 12 weeks.

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Employee Benefits

NOVEMBER 28, 2023

Askews and Holt Library Services has completed an £11 million pensions buy-in deal. The transaction with Legal and General, which was made possible by a discretionary one-off contribution from the employer, covers 64 pensioners and 22 deferred members. The scheme will now proceed to a full buy-in and wind up.

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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

SEPTEMBER 20, 2023

The Pensions (Extension of Automatic Enrolment) (No. The bill, introduced in the House of Commons by Jonathan Gullis MP and taken through the House of Lords by Baroness Altmann, will see the age at which eligible workers must be automatically enrolled into a pension scheme lowered from 22 to 18. 2) Bill has received Royal Assent.

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Employee Benefits

APRIL 24, 2024

The new reporting regime for pension schemes to disclose their investment allocations to UK markets is flawed. Ken Scott, head of investment solutions at Royal London, says: “Department for Work and Pensions (DWP) best practice suggests that lifestyling is a key consideration.

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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. Address contribution levels.

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Employee Benefits

DECEMBER 13, 2021

Need to know: Workplace pension regulators are looking at how value for money can be clarified in defined contribution (DC) pension schemes. Ultimately the employer is one of the greatest contributors to delivering value for money from a DC workplace pension. A qualified success. A complex conundrum.

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Employee Benefits

SEPTEMBER 20, 2023

Many pension schemes will have missing members to whom benefits are due but cannot be paid as they are not contactable. But what happens if they don’t update their pension scheme? For some schemes, the arrival of pensions dashboards will bring into focus the quality of their data and what to do about missing members.

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Employee Benefits

FEBRUARY 20, 2023

Need to know: There are plenty of benefits to getting employees engaged with their pensions investments, but employers should to be clear about what behaviour they want to encourage. Employers do not have to have much say in how employees’ pension savings are invested. So, should pensions education be one of them?

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Employee Benefits

JUNE 12, 2023

The Police Federation of England and Wales (PFEW) has been found to have discriminated against and victimised members who previously made claims against the government after being moved to pension schemes with reduced benefits. The claims against PFEW will return to the tribunal so compensation can be assessed.

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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

DECEMBER 16, 2021

Workers employed by Aston Martin have threatened the car manufacturer with strike action over changes to their company pension scheme. A consultation period between the car firm and affected staff will close tomorrow (17 December). The post Aston Martin staff threaten to strike in pensions row appeared first on Employee Benefits.

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Employee Benefits

DECEMBER 8, 2022

Need to know: *Trustees of large pension schemes and master trusts now have an additional obligation to publish a forward-looking measure of their scheme’s alignment with the Paris Agreement. Trustees and employers should ensure the pension investment strategy aligns with the business’s own corporate social responsibility strategy. .

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Employee Benefits

NOVEMBER 14, 2022

Need to know: Trustees of large pension schemes and master trusts now have an additional obligation to publish a forward-looking measure of their scheme’s alignment with the Paris Agreement. Trustees and employers should ensure the pension investment strategy aligns with the business’s own corporate social responsibility strategy.

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Employee Benefits

SEPTEMBER 13, 2023

Need to know: A raft of proposals have been launched to improve value for money in pension schemes. In July, Chancellor of the Exchequer Jeremy Hunt proposed a number of pension reforms in his Mansion House speech, with an overarching focus on value for money for members.

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Employee Benefits

OCTOBER 9, 2023

Our employees benefit from a 30-minute free consultation with an independent financial advisor, and access to free mortgage and pension advice. Dani Saadu: Could employers do more to support the mental health of staff? The post Marco Pezzani: Could employers do more to support the mental health of staff?

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Employee Benefits

JANUARY 24, 2024

And, while most people are happy to watch the roller coaster ride from the sidelines, employers are beginning to consider crypto as part of their pay strategies. Glenn Cameron, investment consultant at actuarial and pension specialists Cartwright, believes one of the currencies, Bitcoin, will become mainstream.

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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

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. Additionally, half (50%) say they would consider not working for an employer with harmful practices. Employers can help too by offering on-site charging facilities.”

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Money Talk

JUNE 8, 2022

Young adults working in the gig economy may have income from a variety of consulting contracts or from a full-time job and “side hustles.” Arrange Tax Withholding Services - Employers withhold income taxes based on information that workers submit on Form W-4. Use the IRS Tax Withholding Estimator to check if withholding is adequate.

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Employee Benefits

JANUARY 15, 2024

Employers could offer support through a midlife MOT, which provides a health and financial career check to help employees plan for retirement. Organisations can improve the recruitment, retention and development of older workers by signing up to the age-friendly employer pledge. Job and community site Workingwise.co.uk

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Employee Benefits

MARCH 27, 2024

Credit: Jeff Spicer/PA Wire Pension A group personal pension (GPP) plan for all employees, with varying contribution levels across roles and business areas. Healthcare and wellbeing Private medical insurance (PMI) scheme, employer paid for head office and field teams. Health cash plan through flexible benefits scheme.

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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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Employee Benefits

JANUARY 16, 2023

Record high inflation in the UK is resulting in some employers increasing pay levels in an attempt to keep up. Alongside one-off payments and pay rises, employers may want to consider investing in a long-term strategy to ensure the financial wellbeing of their employees. Pay strategy changes.

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Employee Benefits

JUNE 14, 2023

Need to know: Financial worries affect the bottom line, with a poll by the Chartered Management Institute (CMI) finding the majority of employers believe the cost-of-living crisis has caused stress and anxiety that have affected productivity levels. Adrian Firth, employee benefits consultant at Mattioli Woods, says: “Everything’s connected.

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Employee Benefits

MARCH 30, 2023

Need to know: Employers need to think about ensuring workers from all faiths can thrive if they want to engage and retain talent. Benefits professionals will need to ensure they offer suitable pension investments and teambuilding activities. He suggests employers should also seek input from staff.

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