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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.

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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.,

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SumUp ensures it offers an age-inclusive benefits package

Employee Benefits

Its benefits offering for UK-based employees includes the SumUp corporate pension scheme, private medical insurance and life insurance cover, which it primarily markets towards its older staff. SumUp offers multiple benefits to support its older employees to ensure they feel valued in their roles.

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Aster Group ensures its benefits align with employees’ needs

Employee Benefits

It provides access to a healthcare cash plan , an employee assistance programme and life insurance for up to three people. Additional voluntary benefits include private medical insurance, payroll giving, bikes-for-work, critical illness cover, a cash plan upgrade options and the choice of two pension schemes.

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Annuity Myths and Facts

Money Talk

An annuity is a contract between an investor and a life insurance company. Annuities are sold by insurance agents, stock brokers, and other financial advisors. They are often bought with money from settlements, investment accounts, and pension plan lump sum distributions. Medicaid planning, 2.

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Top 7 Employee Benefits and Incentives

Employee Benefits

Group health insurance packages typically range between £250 and £1,000 per employee per annum. Workplace Pension A substantial pension plan with generous employer contributions represents one of the most valuable employee perks, ensuring a secure future in an employee’s retirement years.

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Importance of Employee Benefit Package And Why it Matters

HR Digest

Health insurance 2. Pension or retirement savings plan 3. Dental or vision insurance 4. Considering health care and life insurance 5. Retiree health insurance 6. Disability insurance Looking at these results, it’s clear that financial security is a major driver of employee benefit choices.