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London Underground strikes over pension changes suspended

Employee Benefits

Several strike dates due to take place on the London Underground have been suspended following negotiations about potential reforms of Transport for London’s (TFL) pension scheme. A central government-demanded review of TFL’s pension arrangements, which is a condition of the 1 June 2021 £1.1

Pension 52
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BNP Paribas UK maximises choice for employees within flex scheme

Employee Benefits

Credit: Gerard Uferas/ La Company BNP PARIBAS London BNP Paribas UK tries to promote true flexibility through its flexible benefits scheme and regularly tweaks its provision to operate at its best for its workforce. This helps to increase staff engagement with their pension scheme.

Pension 59
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48% have poor benefits uptake as staff are not interested in provision

Employee Benefits

The most popular benefits currently being offered by the employers surveyed included flexible working, enhanced pension benefits, enhanced holiday leave, healthcare and or dental care, and free food or drink in the workplace. But clearly something is wrong when this many HR leaders admit their benefits aren’t working.

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Adrian Cooper: Where next for financial wellness?

Employee Benefits

There are a number of reasons for this: their salary is often higher than earlier in their career, mortgage payments are probably less onerous and children may be grown up and no longer financially dependent. Then, when they’re ready, they want to understand how to turn their pension savings into an income for life.

Pension 141
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Do employees really need to be concerned about the Lifetime Allowance right now?

Employee Benefits

Therefore, people’s pension savings will likely start catching up with the frozen Allowance. This could particularly affect those who never check the value of their pension or haven’t done so for some time. Positive pension fund growth as well as a pay rise may easily push them over the LTA before they know it.

Pension 104
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Greggs to share £17.6 million bonus among staff

Employee Benefits

The bakery chain also implemented an 8% overall wage and salary inflation in 2023 and expects to make around an increase of around 9.5% This will include the impact of the 10% national living wage increase and enhancement of its pension benefits, with staff now able to access up to 6% employer contributions.

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How to steer clear of Age Discrimination in Employment Act lawsuits

Business Management Daily

Discrimination occurs when age is used as a factor in employment decisions such as hiring, promotions, and terminations. Under the Age Discrimination in Employment Act of 1967 (ADEA), employers with 20 or more workers cannot engage in personnel practices that discriminate against employees or applicants that are 40 years of age or older.