News – Page 5
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Article65% of pension scheme sponsors do not know how much members can expect at retirement
Two-thirds (65%) of those running pension schemes do not know how much a typical member can expect at retirement, according to Aon’s latest research.The global professional services firm drew insights from 214 UK defined contribution (DC) schemes, with combined assets of over £60 billion and more than one million members, ...
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ArticleMedian pay award for three months to June rose to 4.6%
The median pay award across the economy rose slightly from 4.5% to 4.6% for the three months to June 2024, according to Incomes Data Research (IDR).Its latest analysis, based on a sample of 227 pay awards between 1 April and 30 June covering more than 1.9 million employees, also found ...
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ArticleThe top 10 most read articles between 26 July - 1 August 2024
The top 10 most read articles between 26 July - 1 August 2024 on employeebenefits.co.uk were: National living wage to increase in line with median earningsCentral Co-op introduces new financial wellbeing benefitJunior doctors agree 22% pay dealCourt of Appeal upholds High Court ruling on Virgin Media pension schemeReeves confirms public ...
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ArticleHong Kong and Israel award Olympic athletes the biggest bonuses
Credit: Hethers / Shutterstock.comSomething for the weekend: Most people have been glued to their televisions watching the Paris 2024 Olympics for the past few days, marvelling at the talent of the athletes. It turns out that some of them don’t just come home with medals, but with special bonuses as ...
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ArticleEquality watchdog names six employers that have not reported gender pay gap data
Defence and security technology firm Ultra Electronics and Norchem Healthcare have been named as some of the employers that have missed deadlines to report their 2023-2024 gender pay gap data.Private sector organisations across Britain and English public bodies with 250 or more employees are legally required to publish their gender ...
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ArticleUnite launches campaign for fair pay and fair tips for hospitality staff
Unite the union has launched a campaign to ensure hospitality workers receive fair pay and fair tips.The campaign will focus on ensuring that employees in the hospitality sector understand their rights and have the support and tools they need to collectively enforce those rights.Unite’s campaign will focus on: fair pay ...
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ArticleNational living wage to increase in line with median earnings
An extension of the national living wage (NLW) to all adults should be phased in year by year and the NLW rate should rise at least in line with median earnings after the government updated the Low Pay Commission’s (LPC) remit.In a written statement to Parliament, business secretary Jonathan Reynolds ...
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ArticleReeves confirms public sector pay rises of 5-6%
Credit: Fred Duval/ShutterstockThe chancellor has confirmed that millions of public sector workers will get a pay rise this year, following recommendations from the independent pay review bodies.Most NHS workers, teachers and members of the armed forces will receive above-inflation pay rises of 5.5% to 6%, Rachel Reeves announced yesterday as ...
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ArticleJunior doctors agree 22% pay deal
The government and the British Medical Association (BMA) have agreed a 22.3% pay deal for junior doctors.Chancellor Rachel Reeves confirmed the pay offer in her speech to parliament yesterday (29 July), saying that “today marks the start of a new relationship with the government and staff working in the NHS”.Reeves ...
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ArticleCourt of Appeal upholds High Court ruling on Virgin Media pension scheme
The Court of Appeal has upheld the High Court’s ruling that a written actuarial confirmation was required where an alteration to the Virgin Media scheme’s rules affected pension benefits for past or future service benefits.This was in relation to section 9(2B) contracted-out rights and was based on the relevant legislation ...
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ArticleCNH factory workers in Basildon accept two-year pay deal
More than 500 production factory workers employed by agricultural machinery firm CNH have accepted a two-year pay deal, ending a long-running dispute.The workers, who are based at the firm’s Basildon, Essex factory, are members of trade union Unite. As a result of the deal, they will receive a weekly pay ...
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ArticleManchester Metrolink tram employees accept pay deal
Credit: Zhao Zheming / Shutterstock.comHundreds of employees working for Manchester’s Metrolink tram system have accepted an improved pay deal from their employer.The tram system is operated by Transport for Manchester, with its workers belonging to trade union Unite.Customer service representative employees at the bottom of the pay scale will receive ...
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Article79% of working parents would be impacted financially by time off to care for ill child
Almost four-fifths (79%) of working parents have, or would be, impacted financially in some way if they took time off work to care for their ill child, according to research by MetLife UK.Its survey of 3,003 working parents, with a child or children aged 22 and under also found that ...
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ArticleBabcock Marine naval base employees accept 7.5% pay rise
A total of 600 workers employed by Babcock Marine have accepted a 7.5% basic pay rise backdated to August last year.The employees, who undertake specialist services for the UK’s nuclear deterrent submarines at the Coulport and Faslane naval bases on the Clyde in Scotland, are members of trade union Unite.The ...
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ArticleCushon rebrands to Natwest Cushon
Credit: William Barton / Shutterstock.comPension and savings fintech Cushon has rebranded to Natwest Cushon a year after its acquisition by the banking organisation.Natwest took an 85% stake in the business and has invested in the development of its technology and products over the past 12 months. It will adopt Natwest’s ...
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ArticleIrish government to extend parent’s leave benefit allowance
The Irish government has announced that it will extend its parent’s leave benefit allowance from seven weeks to nine weeks as of next month.The extension is part of The Parent’s Leave and Benefit Act 2019 (Extension of Periods of Leave) Order 2024 and aims to improve work-life balance and gender ...
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ArticleThe top 10 most read articles between 12 - 18 July 2024
The top 10 most read articles between 12 - 18 July 2024 on employeebenefits.co.uk were: BT Group to roll out new family leave policyKing’s Speech introduces mandatory ethnicity and disability pay reportingEmma Reynolds named pensions ministerKing’s Speech introduces Employment Rights BillUtility Warehouse introduces personalised financial education for employeesGusto Group to ...
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ArticleAC Hotel by Marriott Glasgow looks for breakfast comedian
Something for the weekend: Glasgow hotel AC Hotel by Marriott Glasgow is searching for a breakfast comedian to entertain guests throughout the Edinburgh Fringe Festival this August. After the hotel began to experience a spike in demand as accommodation prices in Edinburgh have shot up, and due ...
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ArticleKing's Speech introduces Employment Rights Bill
Credit: Muhammad Aamir Sumsum / Shutterstock.comThe new Labour government is to introduce an Employment Rights Bill within its first 100 days as part of its plan to make work pay.Announced in the King’s Speech on Wednesday 17 July, the plan will create a new partnership between business, trade unions and ...
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ArticleKing's Speech introduces mandatory ethnicity and disability pay reporting
The government is set to bring in legislation to introduce mandatory ethnicity and disability pay gap reporting for organisations with more than 250 employees.It is planned that the measure will be brought in under the draft Equality (Race and Disability) Bill announced in the 2024 King’s Speech at the State ...