All Financial wellbeing articles – Page 22
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ArticleNational living wage to increase from April 2024
The national living wage is to increase from April 2024.Jeremy Hunt, Chancellor of the Exchequer, has announced it will rise by 9.8% to £11.44 per hour and will apply to those aged 21 and over for the first time. A full-time worker aged 23 will receive an increase worth £1,800 ...
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ArticleHalf of UK deskless workers live pay cheque to pay cheque
Half (50%) of UK deskless workers live pay cheque to pay cheque and are without spare cash once monthly bills are paid, according to research by OC Tanner.The employee recognition firm’s 2024 Global culture report gathered insights from more than 42,000 employees, leaders, HR practitioners and executives from 27 countries, ...
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ArticleExclusive: Central Co-op launches financial support benefit for staff
Retailer Central Co-op has launched a financial support benefit across its support centre, food and funeral operations teams.The Co-op Credit Union benefit will form part of Central Co-op’s overall wellbeing offer. It will enable employees to access a range of tools, services and resources to support their mental health, money ...
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ArticleExclusive: Avison Young launches financial wellbeing platform
Global commercial real estate firm Avison Young has introduced a financial wellbeing platform for its 1,500 employees in the UK and Ireland.The platform, which is provided by Bippit, gives Avison Young's employees access to professional coaches with Financial Conduct Authority (FCA)-recognised qualifications for one-to-one financial coaching, targeted learning resources, and ...
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Supplier articleSALARY SACRIFICE: MAKING EMPLOYEE BENEFITS COST-NEUTRAL
With 50% of employers planning to increase spend on financial wellbeing in place of offering wage increases and cost-of-living payments, it’s never been more important to make employee benefits sustainable. Salary sacrifice solutions can help to make employee benefits cost-neutral, freeing up the budget to utilise in ...
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Supplier articleTop 10 tips for managing money this festive season
“Managing money during the festive season can be a challenging time for employees, but some careful planning could allow individuals to enjoy the holidays without getting into debt.” says Jonathan Watts Lay, Director, WEALTH at work, a leading financial wellbeing and retirement specialist.To help with this, WEALTH at work has ...
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ArticleMedian monthly pay for October up 5.9% year-on-year
Median monthly pay for October 2023 has increased by 5.9% compared to the same period last year, to an estimated at £2,276, according to data from the Office for National Statistics (ONS).Its labour market figures published on 14 November revealed that regular pay growth fell to 7.7% year-on-year in the ...
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ArticleDisabled staff earn 15% less than non-disabled peers
Disabled workers earn 15% less than non-disabled staff, according to research by Trades Union Congress (TUC).Its findings, which were published on Disability Pay Gap Day (14 November), from which disabled people effectively work for free for the rest of the year, also revealed that the pay gap for disabled workers ...
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Article45% of employers think the new living wage rate is enough
Employee Benefits poll: Almost half (45%) of organisations think the new real living wage rates of at least £12 per hour go far enough to support employees, according to a survey of Employee Benefits readers.One-third (35%) said they did not think the new real living wage rates go far enough ...
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ArticleDeutsche Bank completes £500 million pensions buy-in
Deutsche Bank has completed a £500 million buy-in for its UK pension scheme, its first to include deferred members.The transaction with Legal and General will secure the benefits of around 2,000 retirees and deferred members. Due to an existing umbrella contract with Legal and General, the buy-in was able to ...
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ArticleBasic pay for private and public sector staff to rise by 5%
Basic pay for public sector workers is expected to increase by 5%, the same rate as private sector staff for the first time since early 2021, according to research from the Chartered Institute of Personnel and Development (CIPD).The professional body for HR and people development’s Labour market outlook, which is ...
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ArticleSSE accredited as living pension employer
Credit: Alasdair Jones / Shutterstock.comScottish energy firm SSE has been accredited as a living pension employer to provide financial stability and security.The living pension, which launched in March 2023, is a voluntary savings target for employers that want to help workers, particularly low-paid ones, to build a pension pot that ...
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ArticleUK employers could spend up to £15bn on benefits staff do not want
UK employers could be spending up to £15 billion a year on employee benefits that do not resonate with their staff, according to research by Isio and YouGov.The organisations, which surveyed more than 7,000 private sector employees, found that 23% felt their current benefits package meets all their needs, with ...
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ArticleCity Building signs Dying to Work charter
Glasgow-based building contractor City Building has signed up to the Dying to Work charter to help support employees who become terminally ill.The voluntary charter is part of the Trade Union Congress’ wider Dying to Work campaign, which seeks greater security for terminally ill workers to prevent them losing their jobs ...
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ArticleThe top 10 most-read articles between 3 - 9 November 2023
The top 10 most-read articles on employeebenefits.co.uk between 3 - 9 November 2023 were: Lancashire County Council ordered to pay £800,000 in discrimination caseNon-NHS health staff win one-off bonusLyft and Uber agree to $328m settlement after pay and benefits were withheld35% of staff want financial support through personalised reward and ...
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ArticleGripple and Loadhog become living wage employers
Gripple, a South Yorkshire-based manufacturer of wire joiners, tensioners and suspension solutions, and its sister returnable packaging solutions firm Loadhog, have received living wage employer accreditation.Accredited employers are required to increase wages in line with new living wage rates within six months of them being announced, after which employees and ...
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ArticleNewcastle United accredited as living wage employer
Credit: chrisdorney / Shutterstock.comNewcastle United Football Club has received living wage employer accreditation from the Living Wage Foundation.The lowest-paid employees at the club will see their pay increase by £1.10 to £12 an hour. It applied to become an accredited living wage employer in February 2022 to support its staff ...
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OpinionRhiannon Barnsley: Automatic-enrolment act is no cure for the epidemic of under-saving
The Royal Assent of the Pensions (Extension of Automatic-Enrolment) Act marks a significant development in the UK pension landscape. There are notable changes that could shape the retirement savings framework for certain employers and employees, but more needs to be done to fix the consistent under-saving for retirement that is ...
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ArticleDocklands Light Railway employees strike over pay
Credit: Tupungato / Shutterstock.comWorkers employed by contractors Keolis Amey Docklands that work on the Docklands Light Railway (DLR) have commenced strike action over a pay dispute.Keolis Amey Docklands has a contract with Transport for London (TfL) for operating the DLR.Members of union The National Union of Rail, Maritime and Transport ...
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Article35% of staff want financial support through personalised reward and benefits
One-third (35%) of employees want personalised reward and benefits as a means of financial support outside of salary increases, according to research by global reward and benefits platform provider Perkbox.Its research, which surveyed more than 2,000 workers, also found that 34% of respondents want access to discount schemes that help ...