All Financial wellbeing articles – Page 61
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ArticleBiffa refuse staff reject 1.75% pay rise offer
Leicester-based refuse workers at waste management solutions business Biffa have rejected a 1.75% pay increase offer from the organisation, with strike action a possibility if an agreement cannot be made.Following the rejection of its previous offer, staff are trying to negotiate for a 3% pay rise instead and a commitment ...
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ArticleMorrisons shop floor staff win equal pay battle
An employment tribunal has ruled that Morrisons shop floor workers’ roles can be compared to those working in distribution centres in terms of equal pay.The nearly 2,300 claimants now need to identify male employees at the supermarket chain that are in positions of similar value.In her judgment, Employment Judge Davies ...
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ArticleUber drivers to strike over pay row
The App Drivers and Couriers Union (ADCU) has announced that Uber drivers will stage a 24-hour strike on 28 September (next Tuesday) due to a pay dispute.Industrial action will take place at Uber’s offices in London, Bristol, Birmingham, Nottingham, Sheffield, Manchester, Leeds and Glasgow and will run from midnight to ...
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Article43% of staff facing retirement have health concerns
New research has revealed that more than two-fifths (43%) of employees aged 50-plus are concerned about their deteriorating health as they approach retirement.The study of 1,320 UK workers aged 50 and above, carried out by Vital Research on behalf of financial wellbeing and retirement specialist Wealth at Work, found that ...
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ArticleSelecta UK completes £250 million buy-in
Vending machine business Selecta UK has completed a £250 million full scheme buy-in for its pension plan members.According to the business, the move “significantly” reduces future pension funding risk from its point of view, as it provides all stakeholders with more business certainty and also aligns with actions taken to ...
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ArticleBounds Taxis drivers classed as workers in tribunal
The App Drivers and Couriers Union (ADCU) has won a regional legal battle against Bounds Taxis to extend worker rights to private hire drivers.An employment tribunal has ruled that private hire drivers at Northampton-based Bounds Taxis are “workers without doubt” in a case brought by chair of ADCU Northampton Shafqat ...
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ArticleMedian basic pay awards stabilise at 2%
Pay awards have stabilised for the first time in two years and 2% is the “new normal”, according to XpertHR.The median basic pay award in the three months to the end of August 2021 was 2%, compared to nil just over a year ago when employers were grappling with the ...
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ArticlePension auto-enrolment opt-out rates at 10%
New data has revealed that pension auto-enrolment opt-out rates remained low, at 10%, in the 12 months ended 31 March 2021.Nest Insight has published Retirement saving in the UK 2021, an annual study of retirement saving behaviours in the UK, which included around a third of the working population and ...
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Article60% of employees say financial concerns led to anxiety
New data has found that three-fifths (60%) of employees have had financial concerns that has resulted in anxiety, stress and depression.Barnett Waddingham surveyed 2,001 UK employees about the future of work and employee wellbeing in the UK, and revealed that the generation most likely to see their mental health suffer ...
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Article65% of firms predict financial wellbeing challenge
New research has found that two-thirds (65%) of HR decision makers predicted financial wellbeing will become the next big employee challenge.Pensions organisation Scottish Widows, which surveyed more than 500 HR leaders from UK businesses, revealed that monetary concerns during the Covid-19 (Coronavirus) pandemic have led to almost half of workers ...
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Article47% of staff do not know how to plan for retirement
Nearly half (47%) of employees do not have the knowledge to plan for their retirement, according to new research from Aviva.The study found that 28% feel secure regarding how to manage their pension and 27% are confident they know what a good amount to have in their pension is for ...
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ArticleJohn Laing completes £320 million bulk annuity deal
Infrastructure business John Laing Group has completed a £320 million bulk annuity deal for its pension fund members.According to the business, this is the second buy-in transaction with Aviva, following a £211 million transaction in December 2008, and will insure the defined benefit pension liabilities for 1,850 current pensioners. Fund ...
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ArticleItsu boosts staff pay to £10.40 an hour
Asian restaurant and grocery chain Itsu has announced all in-store workers paid weekly will get an 11% wage increase from today (17 September).The rise will be effective from 1 October for those paid monthly and will see entry-level pay go up to a minimum £10.40 per hour for 1,000 employees ...
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Supplier articleResearch reveals the varying impact of the pandemic on retirement plans
New research from WEALTH at work has uncovered the varying impact the pandemic has had on retirement plans.It found that more than a fifth (22%) of workers approaching retirement (age 50+) say it has made them want to retire earlier and as soon as they can. Surprisingly, 13% want to ...
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ArticleEXCLUSIVE: Financial wellbeing at Employee Benefits Live 2021
EXCLUSIVE: Natalie Jutla, employee value proposition and employee benefits lead for the Department for Environment, Food and Rural Affairs (Defra), will be giving a presentation about financial wellbeing on Thursday 7 October at Employee Benefits Live 2021.The session titled ‘Developing effective financial wellbeing schemes’ will be taking place on the ...
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ArticleKavitha’s keynote: Pensions awareness is a work in progress
This year’s Pensions Awareness Day took place on 15 September, with an aim of highlighting the importance of saving for retirement.Research carried out by HR and payroll services provider MHR, to tie in with the day, however, found that as many as one in four employees have no pension at ...
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ArticleResearch reveals gender pension divide
New data has revealed that nearly two-thirds of male workers (64%) are confident they will retire at the age they intend to, compared to one in two (53%) females.Insurance and financial services organisation Canada Life surveyed UK 4,001 working adults who had received advice from a professional adviser and found ...
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Article23% of employees have no pension plan
Almost one in four (23%) members of staff have no pension plan in place, despite the requirement for employers to provide and automatically enrol employees on to a scheme.The research has been carried out by HR and payroll services business MHR International to run alongside Pensions Awareness Day taking place ...
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ArticleLancaster University staff plan strikes in pension row
Lancaster University employee strikes are reportedly “inevitable” amid an ongoing dispute over pension cut plans.Last month (August), the University and College Union (UCU) emailed more than 50,000 members in Universities Superannuation Scheme (USS) institutions inviting them to a meeting to outline their preparation to ballot and take part in industrial ...
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Article32% of employees have personal finance education
Less than a third of workers (32%) are offered personal finance education as an employee benefit, according to new data.Financial wellbeing platform Nudge Global released its 2021 global report, Disrupting money habits: why it's time for organisations to break cycles of exclusion, in order to highlight the opportunity and need ...