All Financial wellbeing articles – Page 20
-
ArticlePensions (Extension of Automatic Enrolment) Bill receives Royal Assent
The Pensions (Extension of Automatic Enrolment) (No. 2) Bill has received Royal Assent.The bill, introduced in the House of Commons by Jonathan Gullis MP and taken through the House of Lords by Baroness Altmann, will see the age at which eligible workers must be automatically enrolled into a pension scheme ...
-
Supplier articleAddress the Cost of Living Crisis with your Workplace Pension
In a world where prices continue to climb, it’s crucial for businesses to be vigilant about any unnecessary financial costs. Yet, many businesses might be inadvertently losing money because they lack a competitive pension package. Think this isn’t a big deal? Dive into the details below and ...
-
AnalysisWhat do employees value most at Christmas?
Traditional festive gifts such as hampers and vouchers are still valued by employees, as long as choice and personalisation is also offered.More sustainable and socially conscious gifting options have emerged following increased focus on climate change.Due to the cost-of-living crisis, employees may value financial support to help them prepare for ...
-
Supplier articleRethinking Workplace Pensions for the Modern Era
Workplace pensions, as traditionally perceived, leave much to be desired. They have become synonymous with inefficiency, subpar returns, and a drain on team morale. While the idea of auto-enrolment stands tall as a commendable government initiative, ensuring a comfortable life for retirees’ post-employment, its execution seems to ...
-
Supplier articleSAVING 1% MORE COULD BOOST PENSION BY 25%
According to research* from WEALTH at work, 1 in 3 (33%) employees think they won’t be able to afford to retire at all due to increasing costs. Whilst 8 in 10 (83%) are concerned the cost of living crisis will mean they will have to work longer before retiring to ...
-
ArticleUK mean hourly pay gap falls to 12.97% in six years
In the past six years, the mean hourly pay gap between UK men and women has reduced from 15.07% to 12.97%, according to data analysis by accountancy and business advisory firm BDO.Its analysis of data from around 5,300 organisations, charities and public sector bodies that have reported their gender pay ...
-
ArticleAnnual pay growth for May to July 2023 rises by 7.8%
Annual pay growth, excluding bonuses, from May to July 2023 was 7.8%, according to data from the Office for National Statistics (ONS).Its latest labour market figures revealed that this was the same as the previous quarter, the highest regular annual growth rate since comparable records began in 2001, and in ...
-
Supplier articlePersonalised employee health: Bespoke health testing solutions
Unhealthy employees come with a hefty price tag. Whether it's the toll of stress due to workload or the hidden costs of presenteeism, the financial implications are significant. Sick employees not only affect productivity but also impact the cost of health insurance. Happy and healthy employees are not just a ...
-
Supplier articlePitch volunteering and eco action to your execs with OnHand’s ROI toolkit
When companies are considering investing in CSR, ESG, or Social Value initiatives, they’ve got to consider more than just the pure positive impact they could create. That’s why it’s vital for decision-makers to understand the true ROI of investing in social and eco impact.To convince your exec team that investing ...
-
ArticleGlasgow City Council accredited as living wage employer
Glasgow City Council has been accredited as a living wage employer as part of its commitment to pay all of its more than 28,000 employees a wage they can live on.Everyone working at the local authority, including regular workers employed through third-party suppliers, will now receive a minimum hourly wage ...
-
Supplier article5 steps to help employees engage with their pensions
Given cost of living worries and the notion this may be impacting pension savings, WEALTH at work conducted research* with employees to find out their thoughts into what’s happening in reality.It found that whilst a minority (13%) are taking action now and either reducing or stopping pension contributions, more worryingly, ...
-
Supplier articleA Guide to Calculating Pensionable Earnings for Employers
For employers, determining the contributions to a workplace pension scheme depends on the pensionable earnings of their employees. This article will explain the different methods for calculating pensionable earnings and how these methods affect pension contributions and tax efficiency. Explaining pensionable earnings Pensionable earnings are crucial for ...
-
Supplier articleHow workplace benefits can improve financial literacy and help manage workplace risk.
More than half (59%) of employers consider poor financial literacy as a major workplace financial wellbeing risk, according to research[1]. A further 47% of organisations cite financial literacy as a challenge for improving financial wellbeing for the majority of the workforce.Jonathan Watts-Lay, Director, WEALTH at work comments;“Unfortunately, it’s well known ...
-
ArticleShine Catering Services becomes living wage employer
South Wales-based Shine Catering Services has committed to pay its around 50 employees at its in-house fabricating facility the real living wage.Staff at the family-run business, which has been in operation for almost 50 years and offers a design and build service for professional catering environments, will see their pay ...
-
Article150,000 NHS doctors receive pay rise this month
Around 150,000 NHS doctors will start to receive a pay rise this month after the government accepted the Independent Review Body on Doctors’ and Dentists’ Remuneration’s (DDRB) recommendations.As part of the agreement, first-year doctors in training will receive a 10.3% pay increase and junior doctors will see an 8.8% rise, ...
-
Supplier articleStep-by-Step Guide to Completing Your Pension Declaration of Compliance
When hiring employees, it’s crucial to fulfil your legal responsibilities concerning your workplace pension. For UK employers, this involves completing a declaration of compliance for The Pensions Regulator. This guide will explain how to complete your declaration of compliance and the implications of missing the deadline. Understanding ...
-
ArticleAverage pension pot totals 24% less than recommended amount
The average pension pot of a UK retiree totals less than a quarter (24%) of the recommended amount for a moderate standard of living, according to research by Finder.com.The personal finance comparison site found that the average pension pot for a retired person in the UK sits at £69,481, much ...
-
ArticleLidl GB increases pay for 24,500 employees
Lidl GB has increased pay for its 24,500 employees, representing an £8 million investment and a total £60 million investment into pay over the past year.From this month, store and warehouse staff working outside the M25 will see their hourly pay increase to £11.40 from £11.00, rising to £12.30 with ...
-
ArticleMatt Damon and Ben Affleck offer to pay salaries of striking staff at Jimmy Kimmel Live
Credit: Tinseltown / Shutterstock.comSomething for the weekend: Hollywood actors Matt Damon and Ben Affleck have offered to pay the salaries of staff at American talk show Jimmy Kimmel Live for two weeks.Show host Jimmy Kimmel revealed the kind offer in this week’s debut episode of Spotify podcast Strike Force Five, ...
-
ArticleThe top 10 most-read articles between 25 - 31 August 2023
The top 10 most-read articles on employeebenefits.co.uk between 25 - 31 August were: McDonald’s Australia implements staff wellbeing appTribunal orders Greatwell Homes to pay £50,000 in maternity leave rowNetwork Rail withdraws annual bonuses for striking employeesChesterfield Council staff strike over payStandard Chartered enhances global parental leave benefitsSt Mungo’s employees accept ...