Employee Benefits

MARCH 11, 2024

The Bank of England has given its more than 5,000 employees a 4% pay rise along with a 1% salary top-up deal for 2024/25 as part of its aim to retain staff in a competitive jobs market. The bank also maintained a 1% increase in non-pensionable benefits , which was implemented last year.” It is a bigger increase than the 3.5%

Banking 102

Banking Pension Benefit Pension Insurance 102

Employee Benefits

MARCH 7, 2024

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.

Bonuses 59

Bonuses Pension Benefit Manufacturing Pension 59

Employee Benefits

JULY 24, 2023

A central government-demanded review of TFL’s pension arrangements, which is a condition of the 1 June 2021 £1.1 billion funding agreement made by the government for TFL, suggested that the value of members’ pensions would be cut and a final salary scheme ended in return for pandemic-recovery funding.

Pension 52

Pension Pension Benefit Transportation Government 52

Employee Benefits

JANUARY 18, 2022

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. But there is another lifestage that presents different financial challenges.

Pension 141

Pension Pension Benefit Finance Salary 141

Employee Benefits

FEBRUARY 17, 2023

Positive pension fund growth as well as a pay rise may easily push them over the LTA before they know it. For example*, if someone aged 45 has a pension fund of £400,000 and a salary of £50,000, saves 5% of their salary into their pension which rises by 3% p.a

Pension 104

Pension Taxes Pension Benefit Salary 104

Employee Benefits

JANUARY 21, 2022

Positive pension fund growth as well as a pay rise may easily push them over the LTA before they know it. For example*, if someone aged 45 has a pension fund of £400,000 and a salary of £50,000, saves 5% of their salary into their pension which rises by 3% p.a

Pension 52

Pension Taxes Pension Benefit Education 52

Business Management Daily

MARCH 14, 2022

Factors such as the higher cost of salary, overqualification, and lesser years of remaining service are considered to be closely tied to age and thus are not reasonable factors for termination under age discrimination laws. Reducing compensation and benefits. Employer strategies for dealing with an aging workforce.

Employment 52

Employment Government Pension Benefit Pension 52