Employee Benefits

MARCH 15, 2024

Credit: Ritu Manoj Jethani/Shutterstock Footwear brand FitFlop has introduced a salary sacrifice nursery scheme for its 165 UK employees in order to help them save money on childcare fees. There is a minimum requirement for nursery fees to be at least £650 per month before participation in the scheme.

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Employee Benefits

FEBRUARY 28, 2024

Retailer Central Co-op has launched an electric vehicle salary sacrifice scheme as part of its ongoing commitment to sustainability. Through the scheme, which is provided by Octopus Electric Vehicles, Central Co-op’s company car drivers and car allowance recipients can select a brand-new electric car with no upfront costs.

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Employee Benefits

JUNE 20, 2023

Modern company car schemes can offer a tax-efficient means to access new vehicles. Car salary sacrifice arrangements are popular with employees due to the low cost and access to low and zero-emission vehicles. A company car can be a useful attraction and retention tool for employers. So what does this look like?

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Employee Benefits

FEBRUARY 22, 2023

Car salary sacrifice arrangements remain a popular employee benefit; in its January 2023 Leasing Outlook , the British Vehicle Rental and Leasing Association (BVRLA) found a 20.5% year-on-year increase in company cars funded through salary sacrifice to quarter three in 2022. What are car salary sacrifice schemes?

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Employee Benefits

JUNE 19, 2023

Stephenson Harwood offers its employees a car scheme that gives them the option to drive a brand new electric car of their choice through a salary sacrifice agreement , which, in turn, supports the law firm’s commitment to reducing it’s impact on the environment.

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Employee Benefits

APRIL 24, 2023

We asked Jonathan Watts-Lay, Director, WEALTH at work, about the perks of buying an electric car through salary sacrifice. If you are going to move to an electric car, paying for it through salary sacrifice can be a great option due to the savings that can be made. appeared first on Employee Benefits.

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Employee Benefits

MAY 29, 2023

Benefits on offer at XDesign: Pension and group risk Group personal pension (GPP) plan with salary sacrifice arrangement for all employees. Healthcare and wellbeing Private medical insurance (PMI) scheme, employer-funded for all employees. Company car Electric car salary sacrifice scheme, available for all employees.

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Employee Benefits

DECEMBER 5, 2023

Learnd has introduced an electric vehicle (EV) salary sacrifice scheme for 200 eligible employees. The scheme, which is provided by fleet management firm Gofor, was rolled out to employees via a webinar. EV salary sacrifice is tax-efficient for both employee and employer.

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Employee Benefits

FEBRUARY 5, 2024

Credit: muk woothimanop/Shutterstock Need to know: Green electric vehicle (EV) salary sacrifice arrangements are growing in popularity. Employees need to understand how benefit-in-kind (BIK) rates differ for both EV and internal combustion engine (Ice) cars.

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Employee Benefits

FEBRUARY 5, 2024

Law firm Stephenson Harwood has offered a salary sacrifice electric vehicle scheme to its 700 employees through provider Tusker since 2022. The car scheme is one of a suite of benefits that we highlight on our platform,” he says. “It So it is all very transparent.” “We have FAQs provided by Tusker.

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Employee Benefits

MARCH 19, 2024

The benefits on offer at Egress: Pensions Defined contribution pension scheme, with 5% employee contributions and 4% employer contributions. Group risk Life assurance at four-times salary. Healthcare and wellbeing Private medical insurance (PMI) scheme, employer paid for all employees following probation.

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Employee Benefits

NOVEMBER 30, 2023

What are home technology schemes ? A home technology scheme allows employees to purchase a new piece of technology and spread the cost through monthly payments. The payments can be made either through a salary sacrifice arrangement from gross pay or from a net pay arrangement. What are the cost implications?

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Employee Benefits

NOVEMBER 6, 2023

Ovo Energy When Ovo Energy took over SSE Energy Services in 2020, it needed to harmonise benefits across the two organsiations. Employees would receive a flex pay arrangement , worth an additional 9% of salary. This would incorporate an employer pension contribution of 4%, and an extra 5% which could be used to purchase other benefits.

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Employee Benefits

OCTOBER 30, 2023

Death in service benefit of four times salary to nominated beneficiary, employer funded for all employees. Healthcare and wellbeing Private medical insurance (PMI) scheme, employer funded for all UK employees, with the option to include dependants, spouse, partners etc, through salary sacrifice payments.

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Employee Benefits

OCTOBER 25, 2023

Credit: Emerge / Shutterstock (1079190161) Employers should have an understanding of the issues their employees face in order to produce targeted and appreciated voluntary benefits strategies. This suggests that benefits are a valuable tool to attract and retain individuals that might be facing challenges, such as money or health issues.

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Employee Benefits

MAY 29, 2023

Employee benefits are an important aspect of any job, but can be overlooked when thinking about changing roles. Depending on those on offer, benefits can be just as valuable as a pay rise , and in some cases, even more valuable. It is quite natural for us to focus on salary. So what constitutes a good employee benefits package?

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Employee Benefits

FEBRUARY 15, 2024

The Welsh government has partnered with employee benefits provider Vivup for the managed service provision of its employee benefit schemes. It will also offer reward and recognition benefits such as gift cards, vouchers and gift experiences, long-service awards, recognition messages or cards, and lump sums.

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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. While this scheme is designed to encourage people to save for their future, they can opt out if they choose to. What is a workplace pension?

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Employee Benefits

OCTOBER 24, 2023

West Yorkshire-based building contractor Triton Construction has implemented an electric vehicle (EV) salary sacrifice scheme for its 70 employees. These are enhanced by an employer contribution based on savings made from a reduction in employer’s national insurance contributions via the salary sacrifice scheme.

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Employee Benefits

NOVEMBER 7, 2022

What are retail and discount voucher schemes? Employee discount voucher schemes come in various forms, all of which aim to provide staff with savings on a range of purchases, from everyday shops to big-ticket items and the latest technology. How do these schemes work?

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Employee Benefits

APRIL 18, 2024

The post Darlington Building Society signs age-friendly employer pledge appeared first on Employee Benefits. The post Darlington Building Society signs age-friendly employer pledge appeared first on Employee Benefits. Committing to the age-friendly employer pledge underlines our commitment to employees of all ages.

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Employee Benefits

NOVEMBER 22, 2023

Jeff Fox, principal consultant at Aon, said: “While the reduction in NI is welcome, it does have a less welcome pincer movement on salary sacrifice, an approach used by many UK firms. At particular risk are employers with lower-paid staff where flexible benefits and other salary sacrifice schemes are available. “At

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Employee Benefits

MARCH 21, 2023

Welsh whisky and spirits distillery Penderyn Distillery has introduced an electric vehicle salary sacrifice scheme for its workforce. The creation of the salary sacrifice scheme was the next step to encourage more of its employees to start using electric vehicles.

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Employee Benefits

APRIL 22, 2024

A salary sacrifice arrangement can support employees who are dealing with the impact of fiscal drag. Over time, we may see employees dragged into this threshold reducing their hours to keep their earnings below £100,000, to keep hold of valuable benefits.” This could add further strain to employees.

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Employee Benefits

MARCH 18, 2024

Last week, Employee Benefits reported that footwear brand FitFlop introduced a salary sacrifice nursery scheme for its 165 UK employees in order to help them save money on childcare fees. In light of this, what family-friendly benefits do your staff most value? appeared first on Employee Benefits.

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Employee Benefits

JANUARY 18, 2024

Financial wellbeing benefits and incentives were at the top of the list of ways to persuade them to stay. That’s why SmartPay, our cost-neutral salary deduction scheme, is the employee benefit your people and business need in 2024. Offering financial employee benefits that support wellbeing. Affordability.

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Employee Benefits

MAY 4, 2023

A quarter (26%) of large employers have seen an increase in the number of pension scheme opt-outs among employees in the face of the cost-of-living crisis , according to research by Cushon. The post Quarter of large employers have seen increase in pension scheme opt-outs appeared first on Employee Benefits.

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Employee Benefits

FEBRUARY 28, 2023

Salary sacrifice schemes are hugely popular among UK employees and employers. Whether your people need help buying a new bike, electric car or top tech or wish to purchase more annual leave – salary sacrifice schemes can make it affordable.

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Employee Benefits

MARCH 1, 2024

The top 10 most-read articles on employeebenefits.co.uk The top 10 most-read articles on employeebenefits.co.uk The top 10 most-read articles on employeebenefits.co.uk

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Employee Benefits

FEBRUARY 19, 2024

Benefits on offer at FitFlop in the UK: Pension Group personal pension (GPP) plan offered via salary sacrifice arrangement for all employees, with 4.5% Healthcare and wellbeing Private medical insurance (PMI) scheme or private dental insurance: a ll employees can choose one benefit to be funded by the employer.

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Employee Benefits

MARCH 27, 2023

A group personal pension is a defined contribution (DC) arrangement whereby an employer agrees to make monthly contributions into a scheme, but the contract is between the employer and the pension provider. The cap applies to all scheme administration and investment charges, excluding transaction costs. The rest will be taxed.

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Employee Benefits

JUNE 28, 2023

Insurance firm Allianz has introduced an electric car salary sacrifice scheme for its more than 8,000 UK employees. The scheme, which is provided by ElectriX, part of LV= General Insurance and CBVC Vehicle Management, is available to all employees.

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Employee Benefits

APRIL 3, 2023

Group income protection benefit that pays 75% up to state retirement age. Life assurance at 10-times salary. Early intervention schemes. Denplan through salary sacrifice. Employee recognition scheme Quarterly peer recognition with a £500 reward for those recognised. Additional voluntary contributions.

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Employee Benefits

SEPTEMBER 6, 2023

What are bikes-for-work schemes? Bikes-for-work schemes are tax-exempt arrangements that encourage employees to cycle to work to reduce environmental pollution and promote healthier lifestyles. The schemes are usually offered via a salary sacrifice arrangement. What are the cost implications?

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Employee Benefits

JUNE 28, 2023

Benefits on offer at Fox Agency: Pension Salary sacrifice pension arrangement; employees are automatically enrolled after three months’ service. Private medical insurance for senior leadership scheme, employer paid. Other benefits Annual profit share arrangement. Birthdays off. Christmas closedown.

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Employee Benefits

JULY 17, 2023

When employees are financially secure, the benefits are readily noticeable. Here are some of the benefits: Productivity: Since the pandemic, nearly 60% of employees have reported increased financial stress. Amid soaring inflation rates there are predictions of a recession hitting the UK by the end of the year. The outcome?

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Employee Benefits

AUGUST 24, 2023

Understanding Auto Enrolment At its core, auto enrolment means establishing a pension system by the employer for the benefit of their employees. Some exceptions include: An employee opting out of the scheme in the past year. This guide will delve into the intricacies of auto-enrolment pensions and how to effectively manage them.

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