Employee Benefits

JUNE 8, 2023

It is leading the way in innovating employer engagement via its suite of employee benefits that match individual business requirements with a tailored, personal solution, to provide a ‘bridge’ between an employer and its workforce with pioneering technology-based solutions. For more information: www.hive360.com

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Outsourcing Payroll Employee Benefits Pension Payroll Service 52

Employee Benefits

MARCH 4, 2024

Employers will need to review policies for employees who previously opted out of the pension scheme because they may have been close to the lifetime allowance. Two new limits will be introduced in April to control tax relief on pension lump sums. Some employers offered a cash benefit instead of a pension contribution.

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Employee Benefits

MARCH 4, 2024

Much like a classic transformation trick, LTA is disappearing but enter stage left, the lump sum allowance, and the lump sum and death benefit allowance. The lump sum allowance is a cumulative limit of £268,275 on the tax-free elements of someone’s pension benefits. appeared first on Employee Benefits.

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Employee Benefits

SEPTEMBER 6, 2023

Whilst reducing contributions now would make relatively small savings each month, the impact on retirement savings in later life will be dramatic, due to lost employer contributions and tax relief.” It’s therefore more important than ever to ensure employees are engaged with their pensions.

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Employee Benefits

FEBRUARY 17, 2023

Also, many employees in defined benefit (DB) pension schemes are unaware that their pension is valued at twenty times their annual pension for LTA purposes, and so an annual pension of £30,000 has a value of £600,000 for the purpose of testing it against the LTA. appeared first on Employee Benefits.

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Employee Benefits

NOVEMBER 8, 2022

Trott has taken over responsibility for pensioner benefits including state, private and occupational provisions, as well as oversight of bodies such as The Pensions Regulator (TPR). Present press speculation around tax allowances for pensions are particularly concerning.

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Pension Pension Benefit Government Finance 59

Employee Benefits

JANUARY 26, 2022

Topics can include reviewing financial goals, developing an investment strategy, maximising tax efficiencies and how to plan for retirement. The post Early and multiple interventions will improve pensions engagement! appeared first on Employee Benefits.

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Pension Pension Benefit Retirement Plan Taxes 52