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46% of UK employers prioritise positive DC pension scheme outcomes

Employee Benefits

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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Deloitte gives staff control with flexible pension policy

Employee Benefits

In October 2022, professional services firm Deloitte introduced a flexible pension policy that gave its 22,000 UK employees more control over their finances, while still centring the importance of retirement savings. We deliberately structured the new policy to be more pro pensions than it was.

Pension 72
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Interserve completes £400 million pension scheme buy-in

Employee Benefits

Interserve, a construction firm that went into administration in 2019, has completed a £400 million buy-in for its pension scheme members. The transaction was conducted with provider Aviva, and secured the benefits of more than 7,000 scheme members and follows a £300 million pensioner-only buy-in that took place in 2014.

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

Employee Benefits

Need to know: Crypto currency is still unusual in pay strategies with early adopters predominately technology businesses and the professional services firms that support them. 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.

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University of Salford targets communications at specific employee groups

Employee Benefits

Based in Greater Manchester and with 3,000 employees, the university was a runner up in the Best financial wellbeing strategy at this year’s Employee Benefits Awards. These are hosted twice a year by a professional consultancy firm and are free of charge. They pass this on through meetings with each department.

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EY to allow consultants to take time away from roles

Employee Benefits

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. In order to be eligible, employees must be graded as at least “performing as expected” by their line manager.

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Arthur J Gallagher acquires benefits provider Buck

Employee Benefits

HR, pensions and employee benefits consulting, technology, and administration services provider Buck has 2,300 employees across the US, Canada and the UK. Its team will work under William F Ziebell, head of Gallagher’s employee benefits consulting and brokerage operations.