News – Page 11
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Article23% of employees have no pension plan
Almost one in four (23%) members of staff have no pension plan in place, despite the requirement for employers to provide and automatically enrol employees on to a scheme.The research has been carried out by HR and payroll services business MHR International to run alongside Pensions Awareness Day taking place ...
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ArticleLancaster University staff plan strikes in pension row
Lancaster University employee strikes are reportedly “inevitable” amid an ongoing dispute over pension cut plans.Last month (August), the University and College Union (UCU) emailed more than 50,000 members in Universities Superannuation Scheme (USS) institutions inviting them to a meeting to outline their preparation to ballot and take part in industrial ...
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Article27% of retiring staff fail to understand income options
More than a quarter (27%) of employees approaching retirement admit that they need help understanding their income options, according to a new survey.Vital Research carried out the study on behalf of financial wellbeing and retirement specialist Wealth at Work, speaking to 1,320 UK employed adults aged over 50, and found ...
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Article25% of workers do not have a workplace pension
A quarter of workers (25%) do not have a workplace pension, with another 5% saying they have no idea whether they have one or not, according to research conducted by the Pensions and Lifetime Savings Association (PLSA).The survey of 2,075 workers, carried out by Yonder Consulting, also revealed that one ...
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ArticleStaff would sacrifice £1,949 from salary for flexibility
Workers are willing to sacrifice an average of £1,949 from their salary in exchange for a better work-life balance, according to new research.Job site Indeed surveyed 2,000 employees and found that if those earning the average annual salary of £31,461 gave up £1,949 a year, they would lose 7% of ...
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ArticleThe top 10 most-read articles between 3 September - 9 September 2021
The top 10 most-read stories on employeebenefits.co.uk between 3 September – 9 September 2021 were: EXCLUSIVE: John Lewis to discuss wellbeing at Employee Benefits Live 2021Monzo recruits Rachel Mooney as chief people officerAmazon offers £50 bonus for being punctual41% of employees report mental heath declineConfessions: Candid revs up for the ...
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Pension Protection Fund view: Education matters in safeguarding employees from pension scams
Covid-19 (Coronavirus) has sadly had a significant impact on the employment circumstances and finances of many people across the UK; 11.6 million have been furloughed in part or full, and that doesn’t include the impact on the self-employed and other less visible groups. Some have been forced to take early ...
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ArticleFujitsu General UK completes £7.7 million buy-in
Fujitsu General UK has entered into a full buy-in transaction worth £7.7 million with Aviva for its pension and life assurance plan.The buy-in has secured defined benefit liabilities for all deferred plan members and their dependants, and is a “significant” step forward to ensure the long-term security of members’ benefits. ...
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ArticleEXCLUSIVE: Laing O’Rourke to discuss pensions at Employee Benefits Live 2021
EXCLUSIVE: James Dolan, reward leader at international engineering and construction business Laing O’Rourke, will be participating in a panel talk about pension strategies on Wednesday 6 October at Employee Benefits Live 2021.Dolan will be a panellist for the Inspire Session titled 'Future pension strategies', which will be taking place at ...
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Article50% of part-time staff have a workplace pension
Only half of part-time employees have a workplace pension despite all eligible staff being automatically enrolled into their employer's scheme, a survey has found.Fidelity International asked 2,004 male and female UK part-time workers about their typical income and retirement savings. It discovered that while women and men earn £13,468 and ...
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ArticleUK staff have the oldest expected retirement age
New data has highlighted that UK workers have the oldest expected retirement age out of five European countries.According to research from HR and payroll services specialist SD Worx, when compared to other countries in Europe, the UK is at the top of the list with an age of 66.67 years ...
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ArticleThe top 10 most-read articles between 13 August - 19 August 2021
The top 10 most-read stories on employeebenefits.co.uk between 13 August – 19 August 2021 were: XPO Logistics Drinks staff vote to strike over payHMRC exposes worst minimum wage excusesMore employees want Fridays off than MondaysConfessions of a benefits manager: Candid gets in trainingWhat employee engagement lessons can the UK learn ...
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ArticleCEOs earned 86 times median wage in 2020
The median-earning FTSE 100 chief executive was paid £2.69 million in 2020, 86 times the median wage of a full-time worker in the UK, according to analysis by the High Pay Centre.The highest paid was AstraZeneca CEO Pascal Soriot, who earned £14.45 million for his part in successfully delivering a ...
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ArticleEmployers still failing to offer financial education
New research has suggested employers are still not doing enough to help staff navigate their finances.According to a poll by Wealth at Work, even after the effects of jobs losses and furlough, a significant 41% of organisations are still failing to offer employees any support to enable them to better ...
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ArticleBrent Group completes £3 million buy-in
Brent Group, a family-owned business which includes the digital marketing and brand agency Brand Remedy, has completed a £3 million buy-in deal for its defined benefit pension scheme.The deal with Just Group and K3 Advisory, provider of specialist independent bulk annuity and consolidation advice to the pensions industry, was for ...
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Article11% of employees can no longer afford to retire
More than one in 10 (11%) people have had to delay their retirement because they can no longer afford to retire, according to new findings.The research from Wealth at Work, which was carried out by Vital Research among 1,320 UK adults aged over 50 in employment, uncovered the varying impact ...
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Article41% of employers list pensions as a perk
Despite being a legal requirement, only 41% of employers listed pensions as a perk that potential employees can expect if their application is successful.Communications provider Moneypenny analysed 1,000 job advertisements on Indeed.com to discover the most popular and unique benefits on offer, as well as the industries that boast the ...
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ArticleKavitha’s keynote: Saving for the future
More than half (55%) of respondents to a new survey said that the pandemic had made them more aware of the importance of saving for the future, highlighting a positive shift in people’s attitudes towards their finances.The findings from Cushon, which we reported on earlier this week, showed 62% of ...
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Article62% would stay in savings scheme if enrolled
More than six in 10 employees would stay in a savings scheme if their employer automatically put them in one, according to new data.The research, which was undertaken by workplace pension and savings provider Cushon, found that this number increased to 69% if the employer contributed too. While 22% are ...
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ArticlePoll: 78% of organisations use salary sacrifice for workplace pensions
Employee Benefits poll: More than three-quarters of organisations use salary sacrifice for workplace pensions, according to the latest Employee Benefits research.Salary sacrifice schemes allow employees to agree to reduce their earnings by an amount equal to their pension contributions and, in exchange, the employer then agrees to pay the total ...