Employee Benefits

JANUARY 18, 2024

That’s why SmartPay, our cost-neutral salary deduction scheme, is the employee benefit your people and business need in 2024. 45% of Brits made their personal finances part of their resolutions for 2024 (Workplace Wellbeing Professional). Offering financial employee benefits that support wellbeing. Affordability.

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WEX Inc.

SEPTEMBER 12, 2023

If you’ve never been asked if you would like to participate in an employee benefits account before, you might be asking yourself, “What are all these acronyms?” Exploring HSAs and FSAs HSAs and medical flexible spending accounts (FSAs) let you save money because the funds you contribute to them are pre-tax.

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Best Money Moves

NOVEMBER 30, 2021

5 must have employee benefits and perks for 2022. A new year means new opportunities to improve your benefits packages and offer more support to your team. 2022 is right around the corner, and with it comes a new opportunity to update your benefits offerings to better serve your employees. .

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Insperity

MARCH 12, 2024

Launching a successful benefits program in your workplace calls for a savvy employee benefits strategy. Here, we’ll cover everything you need to know about employee benefits. Common employee benefits Here’s a list of the employee benefits that should be on your radar.

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Employee Benefits

AUGUST 13, 2024

Facing redundancy can be an intimidating time, therefore it is important employees are aware of their rights and have a clear overview of their finances. WEALTH at work have provided an overview of some of the key areas that employees will need to understand if they are made redundant.

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HR Bartender

APRIL 16, 2017

Here on HR Bartender, we’ve talked about the partnerships HR needs to have in the organization with finance, risk management, and marketing…just to name a few. To help us figure this out, I asked Kellie Jones, senior director of products, pay, and tax at Ultimate Software , if she would share her expertise. How easy is it to redeem?

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Money Talk

APRIL 6, 2023

At the 2022 Retirement Summit sponsored by the Employee Benefit Research Institute (EBRI), there were four main topics: improving individuals’ access to retirement savings plans, reducing plan leakage (i.e., Speakers suggested three types of “nudges” (i.e., The alternative (i.e.,

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Employee Benefits

JULY 18, 2024

Other measures taken include paying for electricity if the employee charges their electric vehicle at home (44%), financing the installation of a charging point at an employee’s home (38%), paying for electricity if an employee charges their car while on the road (57%) and supplying specific car charging points on-site at the workplace (64%).

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Benefit Resource Inc.

SEPTEMBER 7, 2023

They are a beneficial addition to your employee benefits because of the flexibility and tax advantages they provide. Streamlined Record-keeping : Tax season can be a breeze when you only have one HSA to account for. It’s essential to use a trustee-to-trustee transfer to avoid any tax consequences.

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Employee Benefits

APRIL 22, 2024

The frozen tax thresholds could see some employees ‘dragged’ into paying more tax and have less disposable income as a result. Employers should ask employees about their financial pressures to understand how to support them. This could add further strain to employees. Open communication is key, adds James.

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Employee Benefits

JULY 16, 2024

To help with this, WEALTH at work has outlined some top tips below to help people cut costs and manage their finances. Track finances – After creating a budget it is important to keep track of spending. The post 40% concerned about not having enough savings for unexpected costs appeared first on Employee Benefits.

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Employee Benefits

MARCH 6, 2024

because of the tax and NI saving. These calculations assume people are paying into their workplace pension and assume a salary sacrifice arrangement is in place, meaning they benefit from both tax and National Insurance savings when making contributions. A person earning £20,000pa will save £148.60 1.53% £1,300.00 1.53% £1,300.00

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Employee Benefits

NOVEMBER 27, 2023

Importance of understanding the implications for businesses and individuals Being informed about the UK budget helps people make informed financial decisions, adapt to changes in the economy, and proactively manage both personal finances in response to government policies and priorities. appeared first on Employee Benefits.

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Empuls

APRIL 22, 2024

  Why are employees drowning in financial stress?    According to pwc, 60 % of full-time employees are stressed about their finances.   Beyond the paycheck: how employee benefit makes them happier  A competitive salary is essential to attract and retain top talent.

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Empuls

APRIL 28, 2023

According to a recent study by HBR , 80% of employees say that benefits are a significant factor in deciding whether to accept a job offer, and 60% of employees report that benefits are a major reason for staying with their current employer. What are employee benefits?

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Employee Benefits

JUNE 20, 2024

Four in ten (41%) say they don’t feel supported in their workplace when it comes to getting help to understand their finances. Watts-Lay adds; “It may not seem important now but preparing your finances for later life is one of the most important things someone can do. 2,019 UK adults aged 22+ in full-time employment were surveyed.

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Employee Benefits

JULY 19, 2024

HM Revenue and Customs (HMRC) is clamping down on employers that may have wrongly used a government benefit to reduce childcare costs for staff. According to HMRC’s rules, employers need to be “wholly or partly responsible for the financing and managing of the provision” of childcare to qualify for the benefit.

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Qandle

OCTOBER 10, 2024

This process typically reviews payroll reports, employee information, timekeeping data, tax filings, and benefit deductions. Conducting payroll audits is essential for avoiding payroll-related problems that can impact employees and the organization as a whole.

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Employee Benefits

SEPTEMBER 27, 2024

million employees has uncovered insightful findings on current financial wellbeing provision, as well as foresight into future trends. As people often struggle to manage their finances, they need support with their day-to-day needs. The provision of tax-free saving wrappers including ISAs is set to more than double (from 14% to 30%).

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Enjoy Benefits

DECEMBER 1, 2021

What motivates UK employers to provide employee benefits? It is a question that Enjoy Benefits is well placed to answer, as a leading provider of employee benefits to UK businesses, particularly small and medium enterprises (SMEs). in tax and National Insurance savings. Is it corporate responsibility?

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Enjoy Benefits

DECEMBER 1, 2021

What motivates UK employers to provide employee benefits? It is a question that Enjoy Benefits is well placed to answer, as a leading provider of employee benefits to UK businesses, particularly small and medium enterprises (SMEs). in tax and National Insurance savings. Is it corporate responsibility?

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Employee Benefits

NOVEMBER 15, 2023

The programme, which is provided in partnership with Wealth at Work, aims to help employees who need help understanding their options and how to implement their plan; including retirement goals and considerations, accessing retirement savings, understanding the risks, tax planning, and how to seek further guidance and regulated financial advice.

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Vantage Circle

OCTOBER 1, 2021

Everyone had to deal with various disruptions, which required businesses to rethink their employee benefits and compensation program. The expectations and priorities of employees have irreversibly changed because of what they experienced due to the pandemic. They also help employees achieve their most meaningful goals in life.

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Employee Benefits

JANUARY 4, 2023

Financial education as a benefit can take many forms. At its simplest, it could simply mean providing online or workplace-based resources which employees can access in order to boost their understanding of their finances. What are the benefits? . Are there any tax or legal implications? .

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WEX Inc.

JULY 24, 2023

Keep reading to learn more about the challenges of retirement planning, why HSAs are smart way to support employee needs, and to get answers to some common HSA retirement questions. What employees are saying about finances and retirement? 54 percent of all employees say financial challenges are their biggest cause of stress.

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McDermott Will & Emery Employee Benefits

FEBRUARY 3, 2022

The post Cryptocurrency for Employee Benefits Lawyers: What You Need to Know appeared first on EMPLOYEE BENEFITS BLOG.

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Employee Benefits

APRIL 23, 2024

Many people don’t understand that they pay tax on their pension income, and by withdrawing all at the same time can find themselves as first time higher-rate tax payers. Many workplaces are now offering financial education and guidance to help employees understand how they can make the most of their finances now and for the future.

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Employee Benefits

FEBRUARY 5, 2024

As well as tax savings, EVs can be cheaper to run and maintain, with used cars also a cost-effective option. Employees need to understand how benefit-in-kind (BIK) rates differ for both EV and internal combustion engine (Ice) cars. Here are some top tips on how employers can help employees better manage their company car costs.

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Employee Benefits

FEBRUARY 17, 2022

Its shareholders decided to explore their strategic options and the executive team worked with independent business advisory firm FRP Corporate Finance. Following a review, shareholders found that an EOT would provide them with their desired outcome while also giving the organisation and its employees a platform for continued growth.

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Employee Benefits

SEPTEMBER 5, 2024

Money&Me helps employees build their knowledge of money through gamified learning and provides a personalised experience that builds over time. It covers a range of financial topics including Managing Money, Tax, Savings & Investments, Financial Health, Pensions and Life After Work.

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Employee Benefits

OCTOBER 25, 2023

Additionally, a home and electronics salary sacrifice benefit could be a lifeline for some employees at Christmas and for emergency purchases to help them to avoid high credit alternatives, and offer tax and national insurance (NI) savings. The post How can voluntary benefits support employees in uncertain times?

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Employee Benefits

NOVEMBER 17, 2022

According to Chancellor Jeremy Hunt, this will ensure a fairer tax contribution as the take up of electric vehicles continues to accelerate. The government will legislate for this measure in the upcoming Autumn Finance Bill 2022. The tax system should continue to adapt to reflect consumer behaviour.

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Employee Benefits

JUNE 26, 2023

Equally, very few people are saving enough for retirement, and there are so many benefits to saving more into your pension, including the tax relief and the benefit of long-term compound growth, especially if your employer will match your payments. appeared first on Employee Benefits.

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Employee Benefits

JANUARY 31, 2024

Support in place A useful place for an employer to start is to review the benefits it already offers, to determine if these are being used to help with finances and whether employees know about them or how to access them. Budget-friendly support can include access to low-cost coaching from experts,” says Lowman.

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Employee Benefits

NOVEMBER 15, 2023

For example, instead of using the words ‘pensions’ and ‘retirement’ which can have negative connotations, employers could use ‘long-term savings’, says  Emma Hadley, head of pensions, employee benefits division at Howden Employee Benefits and Wellbeing.

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Employee Benefits

OCTOBER 23, 2024

Tax refund scam – 10% said it was through fake promises of tax rebates. Watts-Lay explains; “Unfortunately, the current strain on household finances could mean that some people are more vulnerable than ever and fraudsters can take advantage of this. The post Common financial scams employees should be aware of.

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Employee Benefits

AUGUST 27, 2024

A payslip contains important information, including someone’s payroll number, gross income (the income before any taxes and deductions have been taken out) and net pay (what’s left after deductions have been taken off), and usually a tax code. check-income-tax-current-year. This can be done by checking www.gov.uk/check-income-tax-current-year.

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