All Financial wellbeing articles – Page 63
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ArticleAegon UK becomes living wage employer
Financial services provider Aegon UK has become a Living Wage Foundation accredited employer.This commitment means Aegon staff will receive a minimum hourly wage of at least £9.50 in the UK or £10.85 in London, with both rates higher than the £8.91 per hour UK government minimum wage for people over ...
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ArticlePoll: 78% of organisations use salary sacrifice for workplace pensions
Employee Benefits poll: More than three-quarters of organisations use salary sacrifice for workplace pensions, according to the latest Employee Benefits research.Salary sacrifice schemes allow employees to agree to reduce their earnings by an amount equal to their pension contributions and, in exchange, the employer then agrees to pay the total ...
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ArticleQBE European reveals 54.9% ethnicity bonus gap
Insurance business QBE European Operations has revealed a 54.9% mean ethnicity bonus gap in its first report of this kind.The organisation's median bonus gap was 43.9%, with 75% of ethnic minority staff receiving a bonus compared to 91% of white employees, according to its UK ethnicity pay gap report 2020.In ...
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ArticleKingfisher completes £900 million bulk annuity deal
Kingfisher, a retailing company that manages B&Q and Screwfix, has completed a £900 million bulk purchase annuity transaction for its pension scheme.Aviva will insure the defined benefit pension liabilities for more than 8,000 members, taking responsibility for the investment and longevity risk. Members will see no change in the amount ...
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Supplier articleIntroducing the brand-new Salary Extras employee discount app
Salary Extras has undergone a fancy new rebrand and we’ve introduced a brand-new employee discount app to go with it, designed to make your instant employee discounts even slicker.Employee benefits have played a huge part in recent times in supporting employees with the various challenges they’ve faced.In particular, employee discounts ...
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Supplier articleWhy is financial education and guidance so important right now?
Financial education and guidance are beneficial to the financial well-being of employees and pension scheme members regardless of the climate. However in times like these, when individuals are extremely concerned about their finances, they are perhaps more likely to make knee-jerk decisions that could have a lasting impact on their ...
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Supplier articleHelping employees save, invest and organise their finances with employee benefits
According to Salary Finances, those that have poor financial health are 3.7 times more likely to be suffering from anxiety and 5.3 times more likely to be feeling depressed and finding it hard to carry on with daily life. As poor financial wellbeing can significantly affect someone, helping your employees ...
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Supplier article94% of Trustees fear retiring members will be targeted by scammers
WEALTH at work’s latest survey* with the Pensions Management Institute (PMI) has revealed that 94% of Trustees fear their members approaching retirement will be targeted by scammers.Jonathan Watts-Lay, Director, WEALTH at work, comments; “Pension scams are a persistent problem which has a devastating impact on those who become victims. Our ...
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ArticleNHS offers 3% pay rise to nurses and cleaners
The NHS has agreed to a 3% pay rise for nurses and other health workers in England and Wales after accepting the recommendations in full of the NHS independent pay review bodies.However, some nurses are threatening industrial action over the offer. A Royal College of Nursing (RCN) spokesperson said members ...
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ArticleSheffield College staff vote for pay-related strike
Staff at The Sheffield College in Yorkshire, UK have voted to strike in a dispute over pay.The University and College Union (UCU) said 89% per cent of its members backed strike action on an average turnout of more than 62%. Members were angry at the 1% pay offer recommended by ...
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ArticleVertu Motors introduces enhanced maternity pay
Vertu Motors has launched an enhanced maternity pay scheme to support its employees and boost its commitment to delivering a more gender balanced workforce.Staff will be entitled to the scheme if they have been continuously employed by the group for at least 52 weeks. Under the Statutory Maternity Pay (SMP) ...
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AnalysisHow can Covid-19 benefits survive and thrive in the long term?
Need to know:Benefits have evolved during the pandemic, with the initial care packages morphing into more structured benefits propositions. But what will we keep and what will fade away?For the employers that can offer it, flexible working is here to stay. The genie’s out the bottle and employers should realise ...
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Supplier articleFinancial Wellbeing: Why It Matters Now
The impact of Covid-19 has had an undeniably profound effect on the wellbeing of the UK population with one in five adults experiencing depressive symptoms in early 2021, more than double that seen before the pandemic1. Whilst most employers may have already implemented a traditional mental and ...
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ArticleGround Control becomes living wage employer
Essex, UK-based landscape and maintenance contractor Ground Control has become a Living Wage Foundation accredited employer.The organisation's employees across the country will now earn £9.50 per hour, or £10.85 if they are based in London. Both rates are higher than the UK government minimum wage for people over the age ...
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ArticleAgfa UK completes £230 million bulk annuity deal
Analogue and digital imaging systems producer Agfa UK has completed a £230 million bulk purchase annuity transaction with Phoenix Group, covering 70% of the scheme’s pensioner liabilities.The buy-in is the first bulk annuity undertaken by the scheme. As part of the trustee’s long-term de-risking strategy, additional funding support which facilitated ...
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ArticleFormer Carillion staff win compensation pay ruling
A group of former Carillion staff have won a legal ruling about whether they were fairly compensated when the construction business collapsed in January 2018.An employment appeal tribunal ruled that 263 former employees represented by the Unite union have the right to seek compensation in a full seven-week hearing due ...
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ArticleLow earners lose employer pensions contributions
Low-paid UK workers who lost income during the Covid-19 (Coronavirus) pandemic have missed out on employer pension contributions estimated to be worth £122 million, according to new research.The figure was calculated by pensions specialist Scottish Widows in its latest Retirement report, which was carried out online by YouGov among 5,059 ...
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Supplier articleWebinar: Workplace Financial Wellbeing
As a business, you may already know that your people would benefit from support on financial matters, but you may be unsure about what you’re able to do and where you may need support. Join us on the 20th July at 2 pm where we’ll be sharing ...
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ArticleWhittington Health becomes living wage employer
The Whittington Health NHS Trust has become a Living Wage Foundation accredited employer.The trust, which runs the Archway, London-based hospital, will join 166 others that have already received this recognition after it committed to paying all staff, and its contractors, an hourly rate of at least £10.85.The living wage set ...
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ArticleBMA offers enhanced shared parental leave to GPs
The British Medical Association (BMA) has announced that salaried GPs in England can now access enhanced shared parental leave above statutory pay.The new enhanced system, which will be offered at general medical services (GMS) and some personal medical services practices (PMS), allows for up to 50 out of 52 weeks ...