article thumbnail

What do employers need to know about the pensions lifetime allowance abolition?

Employee Benefits

Credit: Natata/Shutterstock Need to know: The abolition of the pensions lifetime allowance in April will require an overhaul of employee communications, and a revaluation of pension scheme design and administration, including opportunities to simplify the scheme and reduce the cost of running it.

Pension 59
article thumbnail

36% will work past state pension age to cover daily expenses

Employee Benefits

More than a third (36%) of British employees will continue working past state pension age because they do not think their pension will cover their day-to-day expenses , according to research by Canada Life. Employers should foster a culture where their older workforce feels able and comfortable to continue their working lives.

Pension 64
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Make the Most of Free Money

Money Talk

Employer Match- This is money contributed to employees’ retirement savings accounts to match what they save. Life Insurance - This is money transferred to a beneficiary via a deceased person’s life insurance policy. Like inheritances, life insurance is generally not subject to income tax.

article thumbnail

Top 7 Employee Benefits and Incentives

Employee Benefits

Flexible Work Arrangements A healthy work-life balance is crucial for both employers and employees. The cost for employers to enable remote work is usually a provision of up to £30 per employee. Selecting the best pension provider is essential to maximise the benefits for employees.

article thumbnail

The benefits offered by XDesign

Employee Benefits

Benefits on offer at XDesign: Pension and group risk Group personal pension (GPP) plan with salary sacrifice arrangement for all employees. Employer and employee contributions of 4%, matched up to 5%. Life insurance. Healthcare and wellbeing Private medical insurance (PMI) scheme, employer-funded for all employees.

Pension 105
article thumbnail

St Petrocs accredited as living wage employer

Employee Benefits

Becoming a living wage accredited employer is a further demonstration of that same commitment to fairness.” The post St Petrocs accredited as living wage employer appeared first on Employee Benefits.

article thumbnail

Employee Benefits Guide for 2023: What Employers Need To Know

Vantage Circle

Welcome to “Employee Benefits Guide for 2023: What Employers Need to Know.” In the dynamic arena of modern employment, employee benefits aren’t just perks; they are essential components of a thriving organization. These checkups are separate from the overall health insurance.