News – Page 10
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ArticleKavitha’s keynote: Employers can protect the planet
As this year’s United Nations Climate Change Conference (COP26) continues, now seems like as good a time as any for employers to look at the role they can play in protecting our planet.In recent years, a growing number of industries and businesses have been pledging to reduce their effect on ...
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ArticleFire Brigades Union issues formal letter in pension scheme row
The Fire Brigades Union has issued a formal letter before claim for judicial review proceedings against the UK government due to a dispute over firefighters having to pay a discrimination cost as part of their pension scheme.On 1 April 2012, the courts found that the government’s public sector pension reforms ...
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ArticleJohn Townsend Trust secures £30 million buy-in
John Townsend Trust, a former charity that provided education and care to deaf children and young people, has agreed to a £30 million full scheme buy-in transaction for its pension and assurance scheme.Legal and General Assurance Society, which is part of financial services organisation Legal and General, will be covering ...
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Article34% of firms contribute under 4% to staff pensions
More than a third of UK employers are only contributing the minimum amount towards staff pensions, while some are not contributing at all, according to new findings.The British pension report by Investing Reviews discovered that while 11.7% of organisations contribute 20% or more towards their employees' pensions, 34% put in ...
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ArticleReport calls for more pensions reassurance
Reward and pensions professionals need to put employee communication and reassurance front and centre if they want to maintain engagement when they carry out a pension scheme change consultation, according to a new report.The document, titled Pension change consultation: turning a legal requirement into an engagement opportunity from insurance broker ...
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ArticlePurplebricks faces legal action over pay and pensions
More than 100 workers have announced that they will take legal action against online estate agent organisation Purplebricks as they believe they are entitled to holiday pay and pension contributions.According to Contractors for Justice, which is bringing the claim, more of the 2,500 property agents currently working for Purplebricks might ...
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Article46% of staff aged 35-54 are unaware of their retirement income
New data has revealed that almost half (46%) of employees aged 35-54 do not know how much income their pension will provide them with in retirement.Research by Invesco, Invesco Consulting, Maslansky and partners and Nest Insight looked at how simple changes to the use of language could help workers in ...
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Article45% of female staff have financial anxiety
Almost half of female employees (45%) feel more financial anxiety than they did before the Covid-19 (Coronavirus) pandemic compared to 38% of men, according to new findings.Close Brothers’ report, Expecting the unexpected: a spotlight on preparing for a crisis, included responses from 2,000 UK-based employees working for businesses with 200 ...
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ArticleUber drivers to strike over pay row
The App Drivers and Couriers Union (ADCU) has announced that Uber drivers will stage a 24-hour strike on 28 September (next Tuesday) due to a pay dispute.Industrial action will take place at Uber’s offices in London, Bristol, Birmingham, Nottingham, Sheffield, Manchester, Leeds and Glasgow and will run from midnight to ...
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ArticleUber launches driver pension scheme
Uber drivers are to receive millions of pounds of pension payments dating back to 2017 as part of an agreement made with the UK pensions regulator. The deal follows a Supreme Court ruling in February this year which found the ride hailing group’s private hire drivers should ...
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Article43% of staff facing retirement have health concerns
New research has revealed that more than two-fifths (43%) of employees aged 50-plus are concerned about their deteriorating health as they approach retirement.The study of 1,320 UK workers aged 50 and above, carried out by Vital Research on behalf of financial wellbeing and retirement specialist Wealth at Work, found that ...
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ArticleSelecta UK completes £250 million buy-in
Vending machine business Selecta UK has completed a £250 million full scheme buy-in for its pension plan members.According to the business, the move “significantly” reduces future pension funding risk from its point of view, as it provides all stakeholders with more business certainty and also aligns with actions taken to ...
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ArticleThe top 10 most-read articles between 17 September - 23 September 2021
The top 10 most-read stories on employeebenefits.co.uk between 17 September – 23 September 2021 were: Metro Bank enhances staff benefits offering during the pandemicToyota staff grow their own lunchBelmont Packaging switches to four-day working weekWeetabix engineers strike over payEXCLUSIVE: 51% of SMEs lag behind on diversityAAT publishes first ethnicity pay ...
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ArticlePension auto-enrolment opt-out rates at 10%
New data has revealed that pension auto-enrolment opt-out rates remained low, at 10%, in the 12 months ended 31 March 2021.Nest Insight has published Retirement saving in the UK 2021, an annual study of retirement saving behaviours in the UK, which included around a third of the working population and ...
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Article65% of firms predict financial wellbeing challenge
New research has found that two-thirds (65%) of HR decision makers predicted financial wellbeing will become the next big employee challenge.Pensions organisation Scottish Widows, which surveyed more than 500 HR leaders from UK businesses, revealed that monetary concerns during the Covid-19 (Coronavirus) pandemic have led to almost half of workers ...
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Article47% of staff do not know how to plan for retirement
Nearly half (47%) of employees do not have the knowledge to plan for their retirement, according to new research from Aviva.The study found that 28% feel secure regarding how to manage their pension and 27% are confident they know what a good amount to have in their pension is for ...
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ArticleJohn Laing completes £320 million bulk annuity deal
Infrastructure business John Laing Group has completed a £320 million bulk annuity deal for its pension fund members.According to the business, this is the second buy-in transaction with Aviva, following a £211 million transaction in December 2008, and will insure the defined benefit pension liabilities for 1,850 current pensioners. Fund ...
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ArticleThe top 10 most-read articles between 10 September - 16 September 2021
The top 10 most-read stories on employeebenefits.co.uk between 10 September – 16 September 2021 were: Morrisons to slash sick pay for unvaccinated workersHow has the pandemic changed the shape of Christmas incentives and rewards?The Botanist offers £500 to test roast spuds71a gives staff pay rise after national insurance hikeGender pay ...
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ArticleKavitha’s keynote: Pensions awareness is a work in progress
This year’s Pensions Awareness Day took place on 15 September, with an aim of highlighting the importance of saving for retirement.Research carried out by HR and payroll services provider MHR, to tie in with the day, however, found that as many as one in four employees have no pension at ...
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ArticleResearch reveals gender pension divide
New data has revealed that nearly two-thirds of male workers (64%) are confident they will retire at the age they intend to, compared to one in two (53%) females.Insurance and financial services organisation Canada Life surveyed UK 4,001 working adults who had received advice from a professional adviser and found ...