All Financial wellbeing articles – Page 96
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ArticleEmployment allowance access restricted to smaller employers
Autumn Budget 2018: Access to the employment allowance (EA) will be restricted to employers with a national insurance contributions (NICs) bill below £100,000 in the previous tax year, chancellor Philip Hammond revealed in the Autumn Budget 2018.The EA allows employers to claim back class 1 NICs of up to £3,000 ...
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ArticleGovernment to introduce 2% digital services tax in 2020
Autumn Budget 2018: From April 2020, the government will introduce a new 2% digital services tax on large organisations, Chancellor Philip Hammond has announced in his 2018 budget.The tax will apply to revenues generated from search engines, social media platforms and online marketplaces where activities are linked to the participation ...
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AnalysisPensions versus other workplace investments: what are employees' options?
Need to know:Pensions are still viewed as the primary workplace savings vehicle for employees, but other tools include the corporate Individual savings account (Isa) or the Lifetime individual savings account (Lisa).The Pension Freedoms Act has made pensions more accessible and potentially more desirable as a savings vehicle, but employees may ...
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Case StudiesMott MacDonald offers range of financial benefits to help employees save
The Mott MacDonald Group is a global engineering, management and development consultancy with 16,000 employees across 150 countries, and a headquarters in the UK. It is one of the largest employee-owned organisations in the world.Mott MacDonald has a defined contribution (DC) pension scheme for all UK staff; this is a ...
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ArticleOff-payroll working reforms to be extended to private sector
Read more updates on the Autumn Budget 2018 in Tuesday’s Daily News emailAutumn Budget 2018: The government is to extend reforms to the taxation of off-payroll working to the private sector, Chancellor Philip Hammond (pictured) has announced in his 2018 budget.The changes to the rules, known as IR35, have already ...
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ArticleGovernment to increase tax-free personal allowance to £12,500
Read more updates on the Autumn Budget 2018 in Tuesday's Daily News emailAutumn Budget 2018: The government has today (29 October 2018) announced a commitment to increase the tax-free personal allowance to £12,500 and the higher-rate threshold to £50,000 in April 2019.The current personal allowance stands at £11,850, and the ...
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ArticleLloyds Banking Group ordered to equalise pensions for men and women
The High Court has ruled that Lloyds Banking Group must equalise its guaranteed minimum pensions (GMP) for men and women, in a landmark judgment that could cost major pension schemes £15 billion.The case relates to GMP schemes that ran between 1990 and 1997 for members who contracted out of the ...
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Supplier articleInfographic: Why UK employers should lend a helping hand
UK employees are lost when it comes to their finances. With an insufficient understanding of their own money, and a complex financial market to navigate, many employees lack confidence that they can meet their own living costs.If you’re concerned about the financial health of your employees, check out Thomsons Online ...
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ArticleWorkchain staff fined and sentenced for illegal pension opt-outs
Directors and senior staff at Derby-based recruitment organisation Workchain have received suspended prison sentences, and have been ordered to pay more than £280,000 in fines for plotting to illegally opt workers out of their pension scheme.Owners and directors Phil Tong and Adam Hinkley encouraged five senior Workchain staff members to ...
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AnalysisIn numbers: Financial worries among UK employees
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ArticleTwo-thirds of employees feel benefits package is not applicable to them
HR professionals in large UK organisations tend overestimate employee satisfaction with rewards and benefits programmes, according to a report by Hawk Incentives.Surveys in September 2018 by Sapio Research, which canvassed 500 employees and 103 HR professionals, revealed that around half of employees (52%) said they are happy with the benefits ...
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ArticleEnterprise Rent-A-Car announces new benefits for working parents
UK employees of Enterprise Rent-A-Car are to receive a new family support benefits package through a partnership with childcare search organisation Parental Choice.The range of benefits, available to Enterprise Rent-A-Car's 5,000 UK-based employees from the end of November 2018, includes an interactive nursery search. Designed and implemented by Parental Choice, ...
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Case StudiesCamden Town Brewery offers flexibility around pay to support employee financial wellbeing
Camden Town Brewery Company is a London-based drinks and hospitality organisation with a total of 160 employees. With bars as well as a brewery in operation in the North London area it has a diverse workforce, ranging from marketing and sales teams, to engineers and warehouse staff.The organisation became aware ...
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AnalysisBeyond the money: Using creative means to address financial stress
Need to know:Employers may offer more financial wellbeing support in their benefits provisions than they realise, such as through employee assistance programmes (EAPs).Flexibility is vital in supporting employees' financial health; for example, facilitating off-peak travel, or allowing staff to complete errands during the working day.Apps, such as those that allow ...
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OpinionCatherine Rickard: How can flexible working impact employees’ financial wellbeing?
The business benefits of flexible working initiatives and improved work-life balance have increasingly been recognised by organisations as a means of improving performance and employee productivity.However, there are also direct benefits when it comes to financial wellbeing. For example, according to the Chartered Institute for Personnel and Development's (CIPD) Employee ...
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ArticleMorrisons loses High Court appeal over breach of payroll data
Supermarket chain Morrisons has lost a challenge to a High Court ruling that found it partly liable for a data breach leading to payroll data of around 10,000 staff being posted online.Andrew Skelton, who was senior auditor at the organisation's Bradford headquarters, posted the workers' names, addresses, bank account details ...
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ArticleTPR bans masterminds of £13.7m pension scam from being trustees
The individuals identified as the masterminds behind a £13.7 million pension scam have been banned from being trustees of pension schemes.David Austin, Susan Dalton, Alan Barratt and Julian Hanson ran a scam that cheated 245 people out of their pension savings after the members were persuaded to transfer funds into ...
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ArticleGlasgow City Council workers strike over equal pay claims
Image credit: UnisonMore than 8,000 Glasgow City Council (GCC) employees are staging a 48-hour strike today (23 October 2018) over the lack of progress on equal pay claims.The workers, who are members of the GMB and Unison unions, began the industrial action at 7am today, leading to the closure of ...
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AnalysisHow to measure the return on investment of financial wellbeing strategies
Need to know:The links between financial wellbeing and employee health, productivity and engagement are increasingly well recognised by employers.Hard and fast return on investment (ROI) for financial wellbeing strategies can be difficult to evidence, but employers can study employee engagement surveys, absence and presenteeism levels, changing take-up of financial benefits ...
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Case StudiesCarlsberg uses staff feedback to gauge success of financial wellbeing strategy
Brewery giant Carlsberg launched a proactive financial wellbeing programme in January 2018 for its 700 UK employees, ranging from head office staff, brewery production, sales teams and contact centres.Activities within the programme include on-site mortgage sessions and one-to-one independent mortgage advice, pension presentations, access to payroll loans, a home rental ...