All Financial wellbeing articles – Page 10
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Article37% of UK workers want one-off payment to help with cost of living
More than one-third (37%) of UK workers would opt for a one-off payment to help with the cost of living, higher than the global average of 27%, according to research by Always Designing for People (ADR).As part of its latest study People at work 2024: a global workforce view, it ...
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ArticleFCA, DWP and regulator consult on DC pensions joint framework
The Financial Conduct Authority (FCA), the Department for Work and Pensions (DWP) and the Pensions Regulator (TPR) have launched a consultation on a joint framework for workplace defined contribution (DC) schemes.The proposed framework has been designed to move the focus from costs to long-term value and deliver better retirement savings. ...
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ArticleHealth Food Manufacturers’ Association becomes living wage employer
The Health Food Manufacturers’ Association (HFMA), which represents manufacturers and suppliers of natural health products, has become accredited as a living wage employer.As part of the commitment, every HFMA employee will receive a minimum hourly wage of £13.15 per hour, which is the real living wage rate for those based ...
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ArticleWilson James and ICTS staff at Gatwick Airport accept pay deals
Credit: Pabkov / Shutterstock.comAround 400 Wilson James passenger assistance and 170 ICTS baggage screening workers based at Gatwick Airport have voted for improved pay offers.The Wilson James employees voted in favour of a pay offer worth 10.5%, while the ICTS staff accepted an 11% deal.According to Unite, which represents both ...
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ArticleSiemens Gamesa Renewable Energy staff in Hull accept 8.4% pay deal
Credit: NestorMN / Shutterstock.comAround 300 Siemens Gamesa Renewable Energy wind turbine workers in Hull have accepted a pay deal worth 8.4%, ending an ongoing dispute.The employees, who construct 108-metre-long wind turbine blades by hand, are members of trade union Unite. A total of 93% voted to accept the two-year pay ...
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ArticleOne in three employers do not offer financial advice as a benefit
One in three (34%) UK organisations admitted they do not offer financial advice, increasing to 51% of employers with fewer than 500 employees, according to new research by Close Brothers’ Workplace Financial Wellbeing Service. The research was carried out among 503 employers with 200 or more UK ...
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Article65% of pension scheme sponsors do not know how much members can expect at retirement
Two-thirds (65%) of those running pension schemes do not know how much a typical member can expect at retirement, according to Aon’s latest research.The global professional services firm drew insights from 214 UK defined contribution (DC) schemes, with combined assets of over £60 billion and more than one million members, ...
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ArticleSCA UK Pension Plan completes £1.1 billion pensions buy-in
The SCA UK Pension Plan, which is sponsored by global hygiene and health firm Essity Group, has completed a £1.1 billion pensions buy-in.Headquartered in Sweden, Essity employs 1,600 UK employees across six manufacturing sites and three commercial offices. Its portfolio includes Tena, Cushelle, Tork, Plenty, Velvet and Bodyform.The transaction, which ...
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Supplier articleAnswering the question… How do you boost engagement with employee benefits?
Pluxee UK walks you through their 21-Day Money Marathon, an internal financial wellbeing challenge they created to boost engagement with employee benefits, enhance awareness, champion camaraderie, and give their colleagues space to share ideas and have fun! Read the full story here: How do you boost engagement ...
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ArticleMedian pay award for three months to June rose to 4.6%
The median pay award across the economy rose slightly from 4.5% to 4.6% for the three months to June 2024, according to Incomes Data Research (IDR).Its latest analysis, based on a sample of 227 pay awards between 1 April and 30 June covering more than 1.9 million employees, also found ...
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ArticleThe top 10 most read articles between 26 July - 1 August 2024
The top 10 most read articles between 26 July - 1 August 2024 on employeebenefits.co.uk were: National living wage to increase in line with median earningsCentral Co-op introduces new financial wellbeing benefitJunior doctors agree 22% pay dealCourt of Appeal upholds High Court ruling on Virgin Media pension schemeReeves confirms public ...
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OpinionPatrick Glencross: Reforms to employee holiday rights
Calculating annual leave and holiday pay for employees can be challenging, particularly for those who work irregular hours. The government has this year introduced significant changes to simplify the rules on holiday rights as part of its reforms to a range of employment rights that have developed from years of ...
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ArticleCentral Co-op introduces new financial wellbeing benefit
Central Co-op has launched a new financial wellbeing benefit that allows its 7,500 employees to access their earnings between paydays and offers financial guidance.The retail co-operative society has partnered with MHR to launch iTrent Financial Wellbeing benefit, powered by Wagestream, as part of its wider ‘We’ve Got You’ wellbeing campaign.The ...
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ArticleCNH factory workers in Basildon accept two-year pay deal
More than 500 production factory workers employed by agricultural machinery firm CNH have accepted a two-year pay deal, ending a long-running dispute.The workers, who are based at the firm’s Basildon, Essex factory, are members of trade union Unite. As a result of the deal, they will receive a weekly pay ...
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ArticleManchester Metrolink tram employees accept pay deal
Credit: Zhao Zheming / Shutterstock.comHundreds of employees working for Manchester’s Metrolink tram system have accepted an improved pay deal from their employer.The tram system is operated by Transport for Manchester, with its workers belonging to trade union Unite.Customer service representative employees at the bottom of the pay scale will receive ...
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ArticleITV agrees deal for Box Clever pension scheme members to receive benefits
Members of the Box Clever pension scheme will receive their pension benefits in full following an in-principle deal between The Pensions Regulator (TPR) and ITV.The TV rental businesses of Granada, now ITV, and Thorn, now Carmelite, together formed Box Clever as a joint venture in 2000. Employees were then transferred ...
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Article79% of working parents would be impacted financially by time off to care for ill child
Almost four-fifths (79%) of working parents have, or would be, impacted financially in some way if they took time off work to care for their ill child, according to research by MetLife UK.Its survey of 3,003 working parents, with a child or children aged 22 and under also found that ...
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ArticleThe top 10 most read articles between 19 - 25 July 2024
The top 10 most read articles between 19 - 25 July 2024 on employeebenefits.co.uk were: HMRC to clamp down on misapplied childcare schemeGovernment launches pensions review to boost investment and outcomesSoftcat and Hilton named some of UK’s Best Workplaces for WomenVodafone, Linklaters and HSBC named top employers for equalityNewcastle Building ...
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ArticleBabcock Marine naval base employees accept 7.5% pay rise
A total of 600 workers employed by Babcock Marine have accepted a 7.5% basic pay rise backdated to August last year.The employees, who undertake specialist services for the UK’s nuclear deterrent submarines at the Coulport and Faslane naval bases on the Clyde in Scotland, are members of trade union Unite.The ...
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Article20% of staff aged 40-60 say worries about retirement finances affect ability to work
A fifth (20%) of UK employees aged 40-60 said worrying about their future retirement finances is affecting their ability to work, according to research by Hymans Robertson Personal Wealth.The financial wellbeing and financial planning organisation's survey of 2,010 full-time and part-time working employees aged 40-60 across the UK also found ...