Employee Benefits

FEBRUARY 7, 2023

The financial wellbeing provider’s whitepaper ‘Unlocking the pay cycle’ was authored by its head of impact and inclusion Emily Trant, with advisory input from Resolution Foundation, Money and Pensions Service, Nest Insight, RideTandem and the University of California, Berkeley.

Finance 131

Finance Pension Overtime Employment 131

Employee Benefits

DECEMBER 19, 2023

It’s now more important than ever to support employees to take control of their finances. To help with this, WEALTH at work has outlined below 10 tips to share with employees. Create a budget – The first step to taking control of your finances is to create a budget.

Finance 104

Finance Banking Pension Insurance 104

Employee Benefits

APRIL 23, 2024

The FCA announced that more over 55s are accessing their pensions, and over half are cashing out their pension pots completely. Jonathan Watts-Lay, Director, WEALTH at work – a leading financial wellbeing and retirement specialist comments; “It’s concerning that so many pensions are being cashed out in full.

Pension 59

Pension Taxes Finance Education 59

Employee Benefits

JANUARY 17, 2023

With increasing costs continually putting pressure on household finances, 2023 is set to be a financially challenging year for many. It’s therefore now more important than ever to support employees to take control of their finances to successfully navigate the cost-of-living crisis. Track your finances. Create a budget.

Finance 98

Finance Pension Banking Retail 98

Employee Benefits

JANUARY 18, 2023

One effective way in which employers can help drive employee engagement with pensions is by ensuring ease of access, so they can engage more easily and more regularly. In order to minimise jargon surrounding pensions, communication strategies should be easy to understand, inspiring, engaging and informing.

Pension 111

Pension Finance Technology Consulting 111

Employee Benefits

JULY 17, 2023

As a voluntary savings target, the living pension initiative sets out the minimum annual contribution needed to afford basic living costs in retirement. Employers should ensure that employees who increase their contributions in line with this are not saving at a rate they cannot afford. Enter the living pension initiative.

Pension 98

Pension Finance Salary Government 98

Employee Benefits

JUNE 26, 2023

With interest rates on the rise, we often get asked at our financial education sessions, is it best to pay off your mortgage or pay into your pension? He concludes, “Many employers offer financial education in the workplace, to help their staff to understand their finances so they are better prepared to make decisions like these.”

Pension 98

Pension Finance Education Taxes 98

Employee Benefits

MARCH 13, 2023

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

Pension Finance Education Professional Services 72

Employee Benefits

OCTOBER 25, 2023

Credit: Tony Baggett / Shutterstock.com British Red Cross has completed a £30 million buy-out deal for its pension fund and the British Red Cross Society’s Scottish branch retirement benefits scheme. The post British Red Cross completes £30 million pensions buy-out appeared first on Employee Benefits.

Pension 64

Pension Construction Finance Insurance 64

Employee Benefits

APRIL 28, 2023

Cornish charitable housing association Coastline Housing has received living pension accreditation from the Living Wage Foundation. Launched last month , the living pension is a voluntary savings target for employers who want to help workers build up a pension that will provide enough income for everyday needs in retirement.

Pension 69

Pension Benefits Package Finance Salary 69

Employee Benefits

JULY 25, 2023

Transitioning to a superior provider is no longer a hassle: If you’re contemplating changing your current workplace pension scheme, the process isn’t as challenging as you might think. Many pension companies (we’re one of them!) What is a workplace pension? are prepared to assist you with the heavy lifting.

Pension 96

Pension Net Pay Taxes Salary 96

Employee Benefits

SEPTEMBER 1, 2023

The average pension pot of a UK retiree totals less than a quarter (24%) of the recommended amount for a moderate standard of living, according to research by Finder.com. When asked how much money was in their pension pots, 18% of respondents said they do not have a pension at all or have nothing saved.

Pension 64

Pension Finance Employee Benefits 64

Employee Benefits

SEPTEMBER 14, 2023

However, many don’t realise the significant difference a small increase to their pension savings can make. For example, someone in their 20s, saving an extra 1% a year with their employer matching this, may be able to increase their pension pot in retirement by 25%. They are all 25 years old and plan to retire at age 68.

Pension 64

Pension Take Home Pay Salary Taxes 64

Employee Benefits

MAY 4, 2023

A quarter (26%) of large employers have seen an increase in the number of pension scheme opt-outs among employees in the face of the cost-of-living crisis , according to research by Cushon. The majority (84%) of those with a workplace pension agreed that increased financial education around pensions would be helpful.

Pension 81

Pension Employment Salary Finance 81

Employee Benefits

FEBRUARY 2, 2024

WEALTH at work, a leading financial wellbeing and retirement specialist has run financial education workshops for staff in hundreds of organisations and is encouraging people to consider using this saving in National Insurance if they can, to increase their monthly pension contributions. When made into a pension contribution it is worth £212.29

Pension 52

Pension Insurance Salary Taxes 52

Employee Benefits

JULY 26, 2023

Considering a shift in your workplace pension provider? That’s a bold step towards ensuring your most expensive employee benefit is truly rewarding. The pension plan you offer should mirror your company’s brand. The array of benefits notwithstanding, it’s common to question: is the change worthwhile?

Pension 52

Pension Finance Salary Employee Benefits 52

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. Investments can be made meaningful by using layman’s terms to explain the funds, and what they mean for employees.

Pension 69

Pension Education Finance Government 69

Employee Benefits

JANUARY 19, 2023

As the cost of living crisis continues, it is now more important than ever that new parents understand how their finances will be affected and what actions they can take. WEALTH at work, a leading financial wellbeing and retirement specialist, highlights some top tips to help new parents stay in control of their finances: 1.

Finance 105

Finance Parental Leave Pension Salary 105

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.

Pension 59

Pension Pension Benefit Government Taxes 59

Money Talk

MAY 31, 2023

The dominant voices in personal finance advocacy are white, male, and middle class with privilege. Financial Education - Personal finances classes can be a “great equalizer” for income and asset disparities and should be available everywhere and not by ZIP code. It can completely change a student’s life. Financial knowledge is power.

Finance 246

Finance Taxes Pension Education 246

Employee Benefits

JULY 6, 2023

But your workplace pension setup could be causing this wastage right under your nose, without you even being aware. Workplace pension contributions are fantastic as a concept, offering long-term financial stability and nurturing a productive and motivated workforce. Remember, your workplace pension is your priciest benefit.

Pension 52

Pension IT Finance Taxes 52

Employee Benefits

SEPTEMBER 20, 2023

Yet, many businesses might be inadvertently losing money because they lack a competitive pension package. Retain top talent and save substantially Very few employees stay with the same organisation for their entire careers. By presenting a more enticing pension proposal, firms can foster greater employee loyalty.

Pension 59

Pension Salary Taxes Employee Loyalty 59

Employee Benefits

FEBRUARY 20, 2023

When it comes to communicating to employees about pension scheme investing , Gary Douglas, finance director of new business agency Ingenuity, is of the firm belief that you must get the basics right first. Accordingly, pensions were not always at the forefront of people’s minds.

Pension 52

Pension Finance Payroll Education 52

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?

Pension 52

Pension Employment Taxes Government 52

Employee Benefits

NOVEMBER 25, 2022

Huddersfield-based children’s Hospice charity Forget Me Not has launched a salary sacrifice pension arrangement in order to look after the financial wellbeing of its 140 employees. This is then paid into their pension account before national insurance and tax is taken from their salary.

Pension 59

Pension Salary Taxes Finance 59

Employee Benefits

JULY 31, 2023

But your organisation might be doing just that because the set-up of your workplace pension scheme has kept you blissfully unaware. Pension contributions by employers are great in principle, fostering stability and long-term economic wellbeing for employees. After all, your workplace pension is your most costly perk.

Pension 52

Pension Taxes Finance Retirement Plan 52

Employee Benefits

MARCH 23, 2023

Inflation, cost of living, and static salaries mean employees’ financial health cannot be overlooked this year. 75% of people feel anxious about their finances. 58% of employees feel dispensable and disengaged employees have a 37% higher absenteeism and 18% lower productivity rate. Not convinced?

Employee Benefits 98

Employee Benefits Salary Healthcare Education 98

Employee Benefits

APRIL 8, 2024

They can choose to receive their payment instantly, send it to their savings account, or put it straight into their pension pot. The app additionally features an interactive confidential questionnaire to evaluate how employees feel about their finances. The employer also wanted a modern alternative to its legacy payroll system.

Payroll 107

Payroll Payroll Software Pension Payroll System 107

Employee Benefits

DECEMBER 11, 2023

Most of us spend the majority of our working life saving into our pension. However, all this hard work saving can quickly unravel for those who aren’t aware of common pension mistakes. WEALTH at work outlines below the top 10 pension mistakes individuals could make, to highlight what employees facing retirement may need support with.

Pension 52

Pension Taxes Banking Retirement Plan 52

Employee Benefits

FEBRUARY 16, 2022

At Ashurst, we closely consider the pension and benefits we offer and focus particularly on how we engage our people in these offerings to ensure they are of maximum benefit. Because pension forms part of an employee’s finances, tackling the broader topic of finances also increases engagement with pensions.

Pension 52

Pension Pension Benefit Finance Retirement Plan 52

Employee Benefits

MARCH 5, 2024

Employee Benefits poll: More than one-third (39%) of organisations said that private medical and dental insurance is the most popular form of employee financial support that they offer, according to a survey of Employee Benefits readers.

Medical 105

Medical Insurance Pension Finance 105

Employee Benefits

MARCH 29, 2023

Next January, all going well, approximately 750,000 workers in Ireland will start being automatically enrolled into a new workplace pension scheme that will be co-funded by their employers and the State. The scheme is aimed at addressing the national pension coverage gap. It’s not as if we haven’t talked about it.

Pension 40

Pension Government Finance Employment 40

Employee Benefits

JULY 7, 2023

A financial dilemma that many people consider is whether to prioritise reducing their mortgage debt or whether to increase the amount they pay into their workplace pension. Generally, if the investment growth you are likely to get is more than the interest rate on your mortgage, then it might be a better idea to pay into your pension.

Pension 52

Pension Taxes Finance Education 52

HR Digest

MARCH 22, 2023

As France grapples with an aging population and a pension system deficit, the government’s proposal to raise the retirement age and cut pension costs has sparked a wave of protests and strikes across the country. Join the debate and share your thoughts on the France Retirement Age Protest and 2023 French Pension Reform Strike.

Pension 52

Pension Government Transportation Finance 52

Employee Benefits

APRIL 4, 2024

The aim is to help the organisation’s new parents worry less about their finances and to boost its leadership position in family policies in the transportation and logistics sector. The post XPO Logistics enhances maternity benefits appeared first on Employee Benefits.

Transportation 111

Transportation Pension Banking Human Resources 111

Employee Benefits

FEBRUARY 9, 2022

Need to know: Environmental, social and governance (ESG) issues are influencing employee benefit design through the emergence of new benefits and the repositioning of existing ones to highlight their ESG-related characteristics. It’s no surprise, therefore, that ESG is also making an impact on the employee benefits offering.

Employee Benefits 59

Employee Benefits Pension Transportation Commissions 59

Employee Benefits

JANUARY 26, 2022

The Work and Pensions Committee is calling for trials of automatic appointments with the Pension Wise service as part of its new ‘Stronger Nudge’ interventions. This can be delivered face-to-face or online and utilises digital nudge technology to encourage employee engagement and participation.

Pension 52

Pension Pension Benefit Retirement Plan Taxes 52