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Longevity Risk: Insights From Recent Seminars

Money Talk

It should include essential living expenses, discretionary living expenses, and guaranteed sources of income such as Social Security, an annuity, or a pension. For example, instead of two Social Security checks, there will be one, along with a reduced (survivor) pension benefit.

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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
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Make the Most of Free Money

Money Talk

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. Inheritances are not considered taxable income by the federal government but earnings on inherited assets (e.g., Claim it!

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Thomas Cook completes £900 million pension buy-in

Employee Benefits

Travel business Thomas Cook has completed a £900 million bulk purchase annuity buy-in transaction for its UK pension scheme. Aviva insured the defined benefit (DB) pension liabilities for more than 12,500 scheme members following the liquidation of the business in 2019.

Pension 59
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Bank of England gives employees 4% pay rise

Employee Benefits

The bank also maintained a 1% increase in non-pensionable benefits , which was implemented last year.” The post Bank of England gives employees 4% pay rise appeared first on Employee Benefits.

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Financial Implications of Working in Later Life

Money Talk

Tax Bracket Triggers - When earnings are added to a pension, Social Security, RMDs, and other taxable income, planning is needed to avoid a higher tax rate or Medicare premium. Employer Benefits - Workers age 65+ at large companies can still be covered by group health insurance, thereby postponing Medicare premiums.

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BNP Paribas UK maximises choice for employees within flex scheme

Employee Benefits

Since then, it has amended this by adding a neurodiversity benefit to its private medical scheme, which it runs as a trust, and allowing them to join a gym during any month or select an electric car from car leasing provider Arval. This helps to increase staff engagement with their pension scheme.

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