All Financial wellbeing articles – Page 65
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Supplier articleThe Wealth at Work group secures new investment to support its continued growth
The Wealth at Workgroup has secured further investment from private equity house Aquiline Capital Partners to support its continued growth.*Established in 2005, the Wealth at Work group delivers financial wellbeing programmes and retirement services to hundreds of organisations across different industries. This includes working with large employers; such as BT, ...
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ArticleGender pay gaps narrow for third consecutive year
Gender pay gaps at UK businesses have shrunk for the third year in a row, according to professional services firm PricewaterhouseCoopers (PWC)’s analysis on 2020 to 2021 disclosures.However, with more than three-quarters of companies having delayed reporting their pay gaps until 5 October, in line with the extension granted by ...
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ArticleLVMH Group launches financial aid fund
The Louis Vuitton Moet Hennessey Group (LVMH) has introduced a fund to provide its workforce with emergency financial aid, as well as social and psychological support.The LVMH Heart Fund is a global assistance programme which was launched on 7 June and is available to the group’s 150,000 employees in more ...
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Article16% of employees want to contribute more to their workplace pension
A total of 16% of employees plan to increase their workplace pension contributions as a result of the Covid-19 (Coronavirus) pandemic, according to findings from Close Brothers.The new report, Expecting the unexpected: a spotlight on preparing for a crisis, was compiled based on data from 2,000 UK-based staff at companies ...
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ArticleGeneral Electric faces industrial action over pension reforms
UK division workers at General Electric (GE) have threatened industrial action over reforms to the company's pension schemes, following criticism from the union Unite.Back in January, the digital industrial company announced proposals to freeze the accrual of benefits for 2,800 staff across its UK businesses, as well as all current ...
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AnalysisHave employers placed wellbeing at the centre of their company culture?
Need to know:By changing working practices and bringing employee wellbeing into sharp focus, the pandemic is forcing employers to adapt their benefits strategies.Working from home during the pandemic has increased the importance of the work-life balance, with employers offering greater flexibility to support this.Wellbeing is about more than benefit spend ...
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ArticleBAM becomes living wage service provider
BAM Facilities Management, which is part of construction company BAM Construct UK, has become a Living Wage Foundation recognised service provider.BAM joins 163 companies already classed as recognised service providers, with the recognition meaning it is voluntarily paying its own employees a higher rate than the UK living wage. The ...
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ArticleFTSE 350 pension scheme deficits increase to £81 billion
The accounting deficit for defined benefit (DB) pension schemes at the UK’s top 350 FTSE organisations increased by £5 billion to £81 billion in May this year, up from £76 billion in April 2021.According to Mercer’s Pensions risk survey, which analysed pension scheme deficits calculated using the approach organisations have ...
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Article89% of employees prefer a flexible pay method
New research has revealed that nine in 10 employees prefer flexible pay, or Earned Wage Access (EWA), over alternative methods.The analysis was carried out by a group of financial charities, social impact research firm 60 Decibels, and charity-backed financial wellbeing service Wagestream. The study tracked the impact of employers removing ...
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ArticleSodexo UK and Ireland reveals 5% ethnicity pay gap
Life services organisation Sodexo UK and Ireland has announced a mean ethnicity pay gap of 5%.The gap between all white employees and all black, Asian and mixed race employees is 5%, 7% and 2% respectively.This is the first time the company has included ethnicity data in its pay gap report, ...
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ArticleFinal deadline extension for Employee Benefits Awards 2021
The deadline for the Employee Benefits Awards 2021 has been extended for the final time to 5pm on Tuesday 8 June, giving HR, reward and benefits professionals one very last chance to enter and win recognition for their achievements at the industry’s most prestigious event of the year.Now in its ...
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ArticleUK Food Standards Agency reveals negative gender pay gap
The UK government department Food Standards Agency (FSA) has announced a negative mean gender pay gap of -9.6% for 2020, with a mean gender bonus pay gap of -16.3%.According to the FSA, the mean gender pay gap is based on the difference in the average hourly pay for women compared ...
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ArticleEmployee benefits could ease the burden for Generation X carers
New data has suggested that offering statutory paid parental leave and flexible working could ease the burden for Generation X carers.According to the International Longevity Centre’s (ILC) Slipping between the cracks report which was supported by long-term savings and retirement business Phoenix Group, carers from Generation X - those born ...
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OpinionAmmer Malik: Employees' financial wellbeing should be a top priority
Balancing the wellbeing of employees with the devastating economic impacts of Covid-19 (Coronavirus) has been an unparalleled challenge for many employers over the last year. With Covid impacting the incomes of people across the country, both directly and indirectly, helping restore employees’ financial wellbeing should be at the top of ...
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Case StudiesBupa uses earned-wage access to support employees' financial wellbeing
At the end of 2019, just before the pandemic hit, Bupa rolled out earned-wage access - or flexible pay - to its 11,000 care home staff via Wagestream. The scheme has subsequently been extended to any employee within the UK and Ireland who wants to take it up as an ...
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AnalysisHow the changing shape of pay can support employees’ financial wellbeing
Need to know:The pandemic has spurred many employers to reassess not just what they can pay their employees but how pay can be delivered more flexibly, with growing interest in innovations such as affordable loans, salary advance and access to earned pay.There is recognition, however, this needs to be underpinned ...
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ArticleJohn Wyeth and Brother completes £190 million bulk annuity deal
The defined benefits (DB) liabilities of members of the John Wyeth and Brother's Wyeth Group Pension and Life Assurance Scheme (1997) have been insured by Aviva, it has been announced.The £190 million bulk annuity buy-in transaction means the DB pension liabilities for approximately 2,000 members of the scheme are protected, ...
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ArticleKavitha’s keynote: Employers must take heed of the gender pensions gap
Figures out this week showed that in the UK men have 38% more in their pension pot than women, with a 57% gap in favour of men found in Northern Ireland. But it’s not the first time research has highlighted such a huge disparity in gender pensions savings.Meawhile, other pensions ...
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ArticleUK gender pensions gap averages 38%
Research carried out by PensionBee has revealed that depending on age and location, the UK gender pensions gap is as high as 57%.The online pension provider found UK men have saved £24,236 towards their retirement compared to just £15,006 saved by UK women, which is a 38% gap in the ...
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Case StudiesThe benefits offered by Aster Group
The benefits on offer at Aster Group: Pension and financial wellbeingThe Social Housing Pension Scheme (SHPS) master trust, available for all employees with auto-enrolment contribution levels of 4% employee and 4% employer.Financial webinars.Pension one-to-ones, employer-paid.Retirement modeller.Healthcare and wellbeingHealth cash plans with Simply Health for all employees, employer-funded at level one, ...