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.

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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. Understanding Auto Enrolment At its core, auto enrolment means establishing a pension system by the employer for the benefit of their employees.

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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

JULY 6, 2023

How would you feel if you discovered your company was unintentionally wasting a significant portion of your salary? But your workplace pension setup could be causing this wastage right under your nose, without you even being aware. Yet, this loophole is easy to implement and makes both employees and companies better off.

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Employee Benefits

OCTOBER 16, 2023

Credit: ClimbWhenReady / Shutterstock In the UK, home improvement firm Kingfisher’s pension provision comprises a closed final salary section, with 28,000 deferred and pensioner members, and an open money purchase section, with 70,000 active and deferred members.

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Employee Benefits

JANUARY 10, 2022

In what may bring a sigh of relief, 2022 is not a year with new legal requirements incumbent on employers regarding pensions. But there are many ongoing requirements to be mindful of, and changes within the pensions environment that could lead to future impacts. There will be a need to be maintaining ongoing AE duties.

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Employee Benefits

MARCH 1, 2022

Some 10,000 Tube workers are taking part in two 24-hour strikes this week over pensions and working conditions. According to TFL, Sir Brendan Barber and pensions expert Joanne Segars, are leading and facilitating an independent review of TFL’s pension arrangements, which is a condition of the 1 June 2021 £1.1

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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. Consider salary sacrifice, for instance.

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Vantage Circle

SEPTEMBER 23, 2023

In today's tough job market, businesses need to attract and keep the best employees to succeed. In 2023, employee benefits are important for businesses. Welcome to “Employee Benefits Guide for 2023: What Employers Need to Know.” Why Are Employee Benefits Important?

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Employee Benefits

DECEMBER 13, 2021

Many of the organisation’s employees are in final salary and local government schemes, but the majority, about 4,000, or 40% of the workforce, are in the organisation’s defined contribution (DC) scheme. The auto-enrolment scheme offers 5% employer contribution alongside 3% from the employee.

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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. Think strategically.

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Employee Benefits

JANUARY 22, 2024

Reward and benefits have a direct impact on employee wellbeing; ultimately, happier employees are more likely to be motivated and engaged, and we have created an environment where our incredible talent can thrive. appeared first on Employee Benefits.

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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. Perhaps decisive policy action is needed to address the pension gender divide.

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Empuls

SEPTEMBER 28, 2023

Employee benefits in the UK aren't just a nice-to-have; they're a strategic tool in the modern business arsenal. Employee benefits in the UK have emerged as the silent game-changer, influencing recruitment, retention, and overall workplace satisfaction.

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Employee Benefits

NOVEMBER 22, 2023

Currently, employees pay 12% NICs on earnings above £12,570, and 2% on earnings above £50,270. From next year, employees will pay 10% and 2% respectively. According to the government, which announced the move in the Autumn Statement, this means the average worker earning £35,400 will receive a tax cut in 2024-25 of more than £450.

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Employee Benefits

JULY 6, 2023

As an employer, you’re obliged to provide your staff with a workplace pension – a mandate made compulsory by the UK government in 2012. The required minimum contribution is set at 8%, typically comprising of a 3% contribution by the employer and a 5% contribution by the employee.

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Employee Benefits

JANUARY 31, 2024

Close Brothers Asset Management’s January 2024 report Spotlight on UK financial wellbeing found that only half of UK employers have a financial wellbeing strategy for their employees, despite the continuing cost-of-living crisis. It offers free and impartial help with money, pensions and everyday savings,” he explains.

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Employee Benefits

FEBRUARY 6, 2023

Employers are experiencing increasing demand from employees for salary rises because of the pressures on everyday financial wellbeing, such as the ever-rising cost of living , inflation and interest rates. Employees are asking for help for acute issues around spending and borrowing,” he says.

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Employee Benefits

JANUARY 26, 2022

The benefits offered by Together Housing Group: Pension. Local government pension schemes (LGPS) with varying employer contribution levels. Defined benefit (DB) scheme. Defined contribution (DC) salary sacrifice scheme with 3% or 5% employee contribution matched by 6% or10% employer contribution.

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Employee Benefits

FEBRUARY 14, 2024

The UK government plans to increase the retirement age from 66 to 67 by 2028 and 68 by 2044, with experts believing it may eventually rise to 71 (Workplace Wellbeing Professional). Whilst employees can still choose to retire early, if they have the means, they won’t be able to access their government pension till much later.

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Global People Strategist

DECEMBER 12, 2023

Navigating the Austrian employment landscape requires a nuanced understanding of the legal framework that governs the employer-employee relationship. This overview will delve into critical aspects of Austrian employment laws, covering general labor regulations, taxation, and employee benefits.

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Employee Benefits

JUNE 20, 2023

The accreditation is part of its public commitment to its staff, meaning all of its employees will receive a minimum hourly wage of at least £10.90, which is higher than the current government minimum for those aged 23 and above of £10.42 The post St Petrocs accredited as living wage employer appeared first on Employee Benefits.

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Empuls

APRIL 28, 2023

And one of the key factors that can make a difference for employees is the benefits they receive. Employee benefits are a crucial part of any organization's overall compensation package. But with so many options available, how can you make sure your employee benefits program stands out?

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Global People Strategist

DECEMBER 25, 2023

Navigating the workforce in this West African nation requires a comprehensive understanding of the employment laws that govern employer-employee relationships. This article will provide an overview of critical aspects of Ghanaian employment laws, covering general labor regulations, taxation, and employee benefits.

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Employee Benefits

FEBRUARY 27, 2023

Employers are under renewed pressure to rethink their workplace financial support packages in light of research [1] that reveals that two thirds (66%) of organisations rate their workplace debt management support as poor, despite government claims that Britons are living through the worst cost of living crisis in a generation.

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Global People Strategist

DECEMBER 12, 2023

Navigating the employment landscape in Morocco involves understanding the intricacies of the country’s employment laws, which encompass regulations on general labor, taxation, and employee benefits. The Labor Code governs the employer-employee relationship, outlining the rights and obligations of both parties.

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cipHR

JULY 30, 2020

If we pay our people their agreed wage, salary or bonus, on time, and accurately, isn’t that enough? The UK government is certainly hoping employers will intervene in this area. Financial literacy and education should be on the mind of every employer, and form a foundational part of organisations’ reward and benefits packages.

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Business Management Daily

APRIL 29, 2024

Most employees expect benefits. A good regular salary may have been enough years ago, back when government subsidies managed things like healthcare and retirement, but those programs have become less and less effective. Fringe benefits are how employers make up the gap. People want more. It’s a touchy subject.

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Employee Benefits

JANUARY 16, 2023

It will be interesting to see how the year ahead plays out with employers and government looking to show restraint in the face of an economic slowdown, being faced with increasing unrest and industrial action among workers.”. This means that salaries will fall further behind. appeared first on Employee Benefits.

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Global People Strategist

FEBRUARY 23, 2022

Authority Responsible for Employee Benefits. Social security is responsible for mandating employee benefits within the Czech Republic. Social Security manages sick leave, pension, retirement, and unemployment allowances. Employee Benefits. Getting Employed In the Czech Republic.

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HR Digest

SEPTEMBER 14, 2023

The term “employee relations” can be defined as the connections within the workplace, focusing on both the employer-employee relationship, as well as the relationship between all employees. The focus on employee welfare started post-World War II when retirement and pension plans appeared as the biggest forms of employer care.

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Business Management Daily

MARCH 14, 2022

Let’s take a closer look at the current laws governing age nondiscrimination so you can steer clear of potential lawsuits. Age discrimination occurs when job applicants or employees are treated unfavorably on the basis of age. This amendment does not preclude provisions permitting employees to elect early retirement at a specified age.

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Employee Benefits

APRIL 10, 2023

Need to know: Increasing education about pensions is key to helping employees make the right decisions about accessing their pension savings early. The ability to access pension funds early could prompt changes to the way that pension providers invest for their members.

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HR Professionals Magazine

SEPTEMBER 2, 2021

As an HR professional, you might read that title and think, “Duh – aren’t all retirement plans focused on employees?” 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.

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HR Management Activities

JULY 16, 2020

However, such external recruiting requires interaction with the federal government to obtain temporary (3-year) H-1B work visas for foreign workers. A number of employers feel that the cost of keeping a full-time regular workforce has become excessive and is getting worse because of increasing government- mandated costs.

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Vantage Circle

SEPTEMBER 16, 2021

ESOP plan (employee stock ownership plan) is a form of employee compensation that provides employees with an equity stake in the company. It is also referred to as an employee stock option plan (ESOP) or an employee stock purchase plan (ESPP). ESOP plan can be an effective form of an employee incentive.

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Global People Strategist

JUNE 22, 2020

From vacation and holiday leave to maternity and overtime benefits, learn about employee benefits in Italy for 2020. All employees in Italy are liable to receive national holidays. There is no set minimum wage limit as laid out by the Italian government. Pension Fund and Social Security. Minimum Wage.

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