Employee Benefits

SEPTEMBER 14, 2023

However, many don’t realise the significant difference a small increase to their pension savings can make. For example, someone in their 20s, saving an extra 1% a year with their employer matching this, may be able to increase their pension pot in retirement by 25%. They are all 25 years old and plan to retire at age 68.

Pension 64

Pension Take Home Pay Salary Taxes 64

Employee Benefits

JULY 25, 2023

Transitioning to a superior provider is no longer a hassle: If you’re contemplating changing your current workplace pension scheme, the process isn’t as challenging as you might think. Many pension companies (we’re one of them!) What is a workplace pension? are prepared to assist you with the heavy lifting.

Pension 96

Pension Net Pay Taxes Salary 96

Employee Benefits

JULY 6, 2023

You’ve got a company pension scheme in place, so what would prompt you to change it? However, there’s a strong reason to do so: your business and employees may be at risk if you don’t take action. Additionally, shifting to a modern digital pension provider is surprisingly straightforward.

Pension 52

Pension Salary IT Take Home Pay 52

Employee Benefits

APRIL 22, 2024

The frozen tax thresholds could see some employees ‘dragged’ into paying more tax and have less disposable income as a result. In his Autumn Statement last November, Chancellor Jeremy Hunt extended the freeze on national insurance (NI) and income tax rate thresholds until April 2028.

Employment 59

Employment Taxes Finance Net Pay 59

Employee Benefits

JULY 6, 2023

As an employer, you’re obliged to provide your staff with a workplace pension – a mandate made compulsory by the UK government in 2012. Unfortunately, a considerable number of employees adopt a ‘set and forget’ approach once they’re enrolled in a pension scheme. So, why not ensure it delivers real value?

Pension 52

Pension Salary Government Take Home Pay 52

cipHR

NOVEMBER 15, 2021

It’s worth remembering that it’s an employee’s responsibility to check they’re on the right tax code, as it impacts how much tax they pay – whether it’s too much tax or too little. For the 2021/22 tax year (and through to 2025/26), the tax code for most people under 65 who only have one job or pension is 1257L.

Pension 98

Pension Gross Pay Payroll Deductions 98

Griffin Benefits

JUNE 29, 2023

WILL MAINTAIN MOMENTUM ON AUTO-ENROLLMENT After the passage of the Pension Protection Act of 2006, some plan sponsors resisted auto-enrollment, concerned that they would be seen as too controlling in their employees’ lives. Employees may opt out of auto-enrollment and auto-escalation. SECURE ACT 2.0

401(k) 52

401(k) Retirement Plan Salary Take Home Pay 52