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How to improve and handle your finances in 2022

cipHR

The new year brings a new start for people’s finances, giving you the chance to re-evaluate your situation and make changes based on your priorities. This could begin with making a plan to pay off any outstanding debts that have been causing stress, or just being aware of changes that may impact your finances.

Finance 98
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SAVING 1% MORE COULD BOOST PENSION BY 25%

Employee Benefits

The cost to the employee of this increase in contribution is a reduction in take home pay of less than £12 per month (£136pa). The cost to the employee of this increase in contribution is a reduction in take home pay of £17 per month (£204pa). 2025 UK adults aged 22+ in full time employment were surveyed.

Pension 64
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Fiscal drag: how can employers offset the challenges of a difficult economy?

Employee Benefits

These employees will need guidance and support to understand the impact on their finances and what options are available for them, as this can negatively impact wellbeing and productivity. Open communication is key, adds James. “This open dialogue allows employers to identify areas where they can provide targeted assistance.” .

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The UK Chancellor of the Exchequer, Jeremy Hunt, delivered the government’s Autumn Statement 2023 on 22 November.

Employee Benefits

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.

Finance 52
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Are You Financially Resilient?

Money Talk

Below are five examples: ¨ Maintain a Low Debt-to-Income Ratio- Keep monthly consumer debt payments (all debts except a mortgage) at 15% or less of monthly take-home pay. Example: $275 of debt payments ÷ $2,500 of net pay equals a consumer debt-to-income ratio of 11% (275 divided by 2,500).

Net Pay 100
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Why SECURE 2.0 Act Auto-Enrollment and Escalation Will Boost Employee Financial Well-Being

Griffin Benefits

They were first resistant to escalation, fearing that they would go too far and substantially reduce employees’ take-home pay. New plan sponsors shouldn’t feel a 6% start is overly paternalistic or interferes with employees’ short-term finances, especially for lower-paid individuals.

401(k) 52
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October 17-23 is National Save for Retirement Week!

Assurance Agency

Our Small Changes, Big Impact flyer breaks down that 11-15% goal by offering tips to help employees save and showing how various savings scenarios may impact take home pay and retirement outcome. Personal finance concerns, such as debt, budgeting, or managing expenditures can get in the way of saving for retirement.