All Pay strategy articles – Page 23
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ArticleFCA, DWP and regulator consult on DC pensions joint framework
The Financial Conduct Authority (FCA), the Department for Work and Pensions (DWP) and the Pensions Regulator (TPR) have launched a consultation on a joint framework for workplace defined contribution (DC) schemes.The proposed framework has been designed to move the focus from costs to long-term value and deliver better retirement savings. ...
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OpinionSamantha O'Sullivan: Employers need to prepare for P11D changes
It is no surprise the government is mandating the payrolling of benefits in kind (BIK) and expenses, with paper P11D submissions being abolished in April 2023. However, mandating payrolling of BIKs was introduced by a previous government; will Labour agree and pursue an implementation date of April 2026?Employers need to ...
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AnalysisAre reward professionals ready for the 2026 P11D changes?
Credit: Hyejin Kang/Shutterstock Need to know: Employers should start planning now for the P11D changes to the reporting and paying of tax and Class 1A national insurance contributions (NICs) on benefits in kind, to ensure a smooth transition to the new system in April 2026. Potential ...
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ArticleHealth Food Manufacturers’ Association becomes living wage employer
The Health Food Manufacturers’ Association (HFMA), which represents manufacturers and suppliers of natural health products, has become accredited as a living wage employer.As part of the commitment, every HFMA employee will receive a minimum hourly wage of £13.15 per hour, which is the real living wage rate for those based ...
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ArticleWilson James and ICTS staff at Gatwick Airport accept pay deals
Credit: Pabkov / Shutterstock.comAround 400 Wilson James passenger assistance and 170 ICTS baggage screening workers based at Gatwick Airport have voted for improved pay offers.The Wilson James employees voted in favour of a pay offer worth 10.5%, while the ICTS staff accepted an 11% deal.According to Unite, which represents both ...
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ArticleSiemens Gamesa Renewable Energy staff in Hull accept 8.4% pay deal
Credit: NestorMN / Shutterstock.comAround 300 Siemens Gamesa Renewable Energy wind turbine workers in Hull have accepted a pay deal worth 8.4%, ending an ongoing dispute.The employees, who construct 108-metre-long wind turbine blades by hand, are members of trade union Unite. A total of 93% voted to accept the two-year pay ...
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Article95% do not think one week of unpaid carer’s leave per year goes far enough
Employee Benefits poll: The majority (95%) of organisations do not think the introduction of one week of unpaid carer’s leave per year goes far enough to support employees, according to a survey of Employee Benefits readers. Meanwhile, just 5% of respondents were unsure if one week of ...
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ArticleMicrosoft awards staff one-off performance-based cash award
Technology firm Microsoft has announced that it will award its non-executive employees a one-time performance-based cash award of up to 25% of their annual bonus.According to a memo distributed to employees, salaried and hourly workers at the senior director level and below will be eligible for the award, with amounts ...
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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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OpinionPatrick Glencross: Reforms to employee holiday rights
Calculating annual leave and holiday pay for employees can be challenging, particularly for those who work irregular hours. The government has this year introduced significant changes to simplify the rules on holiday rights as part of its reforms to a range of employment rights that have developed from years of ...
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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 ...