All Financial wellbeing articles – Page 11
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Case StudiesThe benefits offered by Aldermore Bank
The benefits on offer at Aldermore Bank:PensionA group personal pension (GPP) plan with salary sacrifice arrangement for all employees. Employee/employer contribution levels are 3%/6%, 4%/8% and 5%/10%.Group riskLife assurance, employer paid for all employees at four-times salary, with the option for employees to flex up at their own cost to ...
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Case StudiesPodcast: Aldermore Bank ensures its benefits proposition supports financial wellbeing
Listen: This episode of the Employee Benefits podcast shines a light on how Aldermore Bank has embedded its organisation’s purpose in all of its operations and ensures this is apparent within its reward strategy. Its purpose is to support people to ‘go for it’ in life and business, and ...
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Supplier article1.5 million mortgage fixes expected to end this year
Over the next year 1.5 million homeowners are expected to face sharp increases in their monthly mortgage payments when their fixed rate deal comes to an end, with prices rising by approximately £1,800 a year on average[1].To help with this, WEALTH at work has outlined some top tips below to ...
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ArticleAston Martin increases pay and awards cost-of-living payment
Sports car manufacturer Aston Martin is to increase pay for more than 2,500 eligible UK employees and contractors.The two-year pay agreement includes a 4% annual pay increase for its workforce in 2024 and 2025. In addition, manufacturing technicians will receive a 1.5% rise in 2025 alongside a one-hour reduction in ...
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ArticleOne-third of employees feel less engaged due to personal finance issues
One-third of employees are less engaged at work and more likely to report unmanageable stress due to their personal finances, according to research by Engage for Success.Its UK employee engagement survey 2023, run in partnership with Nottingham Business School, received responses from more than 3,000 employees. The results were translated ...
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AnalysisHow effective is strike action in pay and benefits disputes?
Employees often take strike action over issues such as pay, health and safety, pensions, benefits, changes to terms and conditions, and union recognition. The UK has strict laws regarding strike action and it cannot take place if certain requirements have not been met. Employers should consider ...
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ArticleCollege supervisors at University of Cambridge accept 15% pay rise
College supervisors employed by the University of Cambridge have won an average pay rise worth 15%.The workers, who are represented by the Cambridge branch of the University and College Union (UCU), lead undergraduate tutorials or supervisions with students.They will receive new rates that have been introduced on the university’s salary ...
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ArticleVantec drivers for Rolls Royce win 6.1% pay rise
Drivers employed by Vantec, who supply parts to a Rolls Royce plant, have won a 6.1% pay rise and pay protection.The workers, who are members of trade union Unite, deliver components from the organisation's warehouse in Bognor Regis to Rolls Royce’s Goodwood plant. This is their first dispute after winning ...
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Article49% of employees do not know how they will access pension savings
Almost half (49%) of employees aged between 50 and 59 do not know how they will access their pension savings, according to research by workplace pensions provider TPT Retirement Solutions.Its survey of 2,500 defined contribution (DC) members also found that 23% of respondents would draw it down over time, 16% ...
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ArticleMenzies Aviation ground services staff at Glasgow Airport accept pay deal
More than 200 workers employed by Menzies Aviation at Glasgow Airport have accepted a one-year pay deal, which will increase pay packages by 6.8%.The ground services crew, who are members of trade union Unite, include dispatchers, allocators, airside agents and controllers.They overwhelmingly voted to accept the offer, which will be ...
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ArticleUK gender pay gap falls by 0.4% over past year
The mean gender pay gap has fallen by 0.4% in the past year, from 12.2% in 2022/23 to 11.8% in 2023/24, according to research by PricewaterhouseCoopers (PWC).The professional services firm found that among UK employers that disclose their hourly gender pay gaps, the median hourly pay gap has decreased from ...
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ArticleScottish government introduces pay rise for public sector employees
The Scottish government has implemented a pay rise for public sector employees worth an average of 9.3% over the next three years.The 2024-25 Public sector pay policy details a framework for pay increases for civil servants and other public sector workers. Apart from senior civil servants, it applies to those ...
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AnalysisHow can employers effectively deliver financial wellbeing support to a dispersed workforce?
Need to know:Financial wellbeing support must be accessible to all employees on demand regardless of their working location.Finding out what is needed can help shape support to a dispersed workforce.Support and communications that are useful to the majority of employees can avoid exclusion.In its State of financial wellbeing index 2024 ...
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Case StudiesSchuh ensures inclusivity with financial wellbeing support
Schuh ensures its financial wellbeing support is offered to all of its employees, whether they work remotely, in store, or in its head office, to maintain inclusivity across all teams.The fashion footwear retailer has 124 stores in the UK, Ireland and online, and employs around 4,000 people across the UK ...
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ArticlePower station staff employed by Nuclear Restoration Services strike over pay
More than 500 workers employed by Nuclear Restoration Services (NRS) have begun strike action today (29 May) in a dispute over pay and conditions.The craft technicians, general operators, engineers, maintenance fitters and safety advisors, who are members of trade union Unite, are based at the Dounreay power station in Scotland. ...
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ArticleStudy reveals the real-life salary of Legally Blonde's Elle Woods today
Credit: DFree / Shutterstock.comSomething for the weekend: Following the announcement of a prequel to the film Legally Blonde, a study by digital marketing firm Hennessey Digital has revealed what the real-life salary of lawyer and movie protagonist Elle Woods, played by Reece Witherspoon (pictured above), would be today.The firm first ...
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Article23% of employees unsure of pension size needed to achieve retirement income
Nearly one-quarter (23%) of UK employees are unsure of the size of pension pot they require to achieve their desired retirement income, according to research by online pension provider PensionBee.Its survey of 1,000 working-age UK adults also found that 15% of respondents thought they would need a pension pot of ...
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AnalysisHow can employers nudge staff into saving more into their pensions?
Credit: Stephen Barnes/ShutterstockNeed to know:Employers should seek to understand the competing priorities that might stop individuals saving for retirement.Inertia is a powerful tool: enrol people at a higher rate and most will not choose to opt-out.There is no one-size-fits-all when it comes to communications, which should be highly personalised.It is ...
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Article37% work through pain as they cannot afford to take time off
More than one-third (37%) of employees have worked through pain as they could not afford to take time off, according to research by National Accident Helpline.Its survey of 2,000 British workers also found that more than half of respondents have never taken a sick day during their career, while 28% ...
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Supplier articleMillions of UK adults may have lost money to a financial scam in the last year
– Common financial scams employees should be aware of12% of UK adults have admitted to losing money to a financial scam in the last year, according to new research[1] from WEALTH at work. This could potentially equate to 6.2 million adults[2] across the UK.The research found that of those who ...