All Financial wellbeing articles – Page 72
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ArticleSovereign Housing Association reveals 1.7% gender pay gap
Sovereign Housing Association, which serves the south and south-west of England, has announced a mean gender pay gap of 1.7%.The disparity is the smallest it has been since measuring began, and this 2020 figure is an improvement from the 4% recorded for 2019.The organisation's median gender pay gap is even ...
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ArticlePension participation stalls for first time since 2012
Data released by the Office for National Statistics (ONS) has revealed 78% of people now have a workplace pension – up from 47% just eight years ago.The findings, which showed figures as at April 2020, also highlighted that last year was the first since 2012 where pension participation levels remained ...
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ArticleFurlough wages exceed £61 billion
Employers have paid more than £61.3 billion in furlough wages to staff since the start of the Covid-19 (Coronavirus) pandemic, data released by the Office of National Statistics (ONS) has shown.According to government statisticians, numbers of furloughed workers have been gradually decreasing, with 4.2 million on the Coronavirus Job Retention ...
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Article41% of employees trust financial wellbeing tools
Financial wellbeing tools must improve in the aftermath of the Covid-19 (Coronavirus) pandemic, according to new research.Willis Towers Watson's Future of financial wellbeing study revealed that only 41% of employees would trust financial wellbeing provisions provided by their employer. This figure was only 26% among Baby Boomers and 36% among ...
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Supplier articleHow to identify employees at risk of breaching the LTA and what they can do
As announced in the Budget, the Lifetime Allowance (LTA) will remain at its current level of £1,073,100 until April 2026. It’s been predicted that an estimated 10,000 individuals with large pension pots will pay more than £22,000 extra in tax by 2024.WEALTH at work believes that the LTA will typically ...
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ArticleShare schemes found to boost wealth by up to £10,000
Staff who take advantage of share schemes could be better off to the tune of £10,000 compared to those who do not, according to new research.Data from the Social Market Foundation (SMF) revealed there is a distinct ‘wealth benefit’ of participating in share ownership schemes – and yet less than ...
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ArticleEmployers launch gender pay gap campaign
Major organisations, including Fawcett Society and Women on Boards UK, have backed a new gender pay gap campaign to speed up progress on reporting data.‘Reset the Timeline’, launched today (4 May) and led by pay gap specialist Spktral, is asking qualifying employers to not delay submitting their information until the ...
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ArticleEmployees still losing track of their pensions
Despite all the marketing and employee communications, the number of people who have lost track of at least one of their pensions has barely improved at all in the past five years, according to new research.Data released by Aegon has revealed 17% of those with multiple pensions do not readily ...
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ArticleStar Refrigeration converts to all EV car salary sacrifice
Glasgow-headquartered industrial refrigeration provider Star Refrigeration has announced it has switched its entire car salary sacrifice offering to electric vehicles (EV)-only.The company – which employs 400 people and has a fleet of more than 150 vehicles – said it made the decision in order to make its journeys more sustainable.The ...
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ArticleNHS Lanarkshire offers staff quit smoking app
The health board of NHS Lanarkshire has rubber-stamped the roll out a new app, which has been designed to help staff quit smoking, as well as enable them to improve their health and wellbeing.The decision means North and South Lanarkshire Council Homecare support workers, HRM Homecare support workers, and South ...
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ArticleScarborough Council reveals negative pay gap
Scarborough Borough Council has released its gender pay gap report – and for the fourth year in a row, it has found women are paid more than men.To the year ending 31 March 2020, its data showed that the council’s mean gender pay gap was -2%. This compares to the ...
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ArticleHalf of employers not sick-pay compliant
Half of employers are yet to comply with legislation around sick pay, according to new research by Group Risk Development (Grid).The Employment Rights (Employment Particulars and Paid Annual Leave) (Amendment) Regulations 2018 (SI 2018/1378) came into force on 6 April 2020. It requires employers to inform their staff of their ...
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Supplier articleReducing employee stress with employee benefits
As we approach the end of Stress Awareness Month, it’s important for businesses and HR to remember the importance of reducing employee stress continually beyond April.Employee health and wellbeing has been a key priority for HR over the last year. Mental health in particular has been under the spotlight and ...
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ArticleMoto Hospitality rolls out financial wellness app
UK motorway services operator Moto Hospitality has rolled out a financial wellness app that helps staff with their general money management, as well as unexpected expenses.The app, from Wagestream, allows all of the group’s 4,500 employees to access a range of services that enable them to boost their financial resilience.Features ...
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ArticleOlder workers face prospect of lower pay
Older workers are facing a double-whammy impact of the Covid-19 (Coronavirus) pandemic by not only being more likely to lose their jobs in the first place, but also being forced to accept lower pay when they do find work.This is the conclusion of a new report, A u-shaped crisis, by ...
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Article43% of workers to delay retirement due to Covid-19
New data from PensionBee has found that more than two-fifths (43%) of workers will now have to push back their planned retirement date because of the Covid-19 (Coronavirus) pandemic.The pension provider's study, which surveyed more than 2,000 savers, revealed that across three different generations (Generation X, Millennials and Generation Z), ...
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ArticleKavitha’s keynote: The true cost of working from home
Employee Benefits has reported on a number of stories relating to working from home lately - particularly following the pandemic - and many have been about its positive effects on employee wellbeing and work-life balance.However, two of our stories this week have highlighted the potential pitfalls for those working remotely, ...
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ArticleThe top 10 most-read articles between 15 April – 21 April 2021
The top 10 most-read stories on employeebenefits.co.uk between 15 April – 21 April 2021 were: What does the Pensions Schemes Act 2021 mean for workplace pensions?Facebook moots pay cut to work from homeMetro Bank team walks over 1,700 miles as part of wellbeing challengeSurrey Fire and Rescue Service rolls out ...
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ArticleJersey votes down minimum wage rise proposal
A proposal to raise the minimum wage in Jersey to £10 per hour by 2022 has been lost by just five votes.The motion, raised by deputy of Saint Helier and backbencher Geoff Southern, would have boosted the current £8.32 per hour pay by £1.68 by the end of next year, ...
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ArticleFemale doctors earn 30% less than male counterparts
The gender pay gap among doctors widened last year, with females earning almost a third less than their male counterparts.The findings from New Medscape also revealed that nearly two-thirds of doctors feel under-rewarded in terms of pay, with their earnings having actually fallen during 2020, compared to two years before.Further, ...