All Pensions articles – Page 17
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AnalysisTop tips for introducing salary sacrifice pension schemes
A salary sacrifice pension arrangement should not be agreed if the effect of this, such as a reduction in the employee’s pay, would lead to a breach of the national minimum wage legislation. A simple step, such as giving employees full transparency on which businesses the ...
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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 be classed as workers, ...
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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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Case StudiesThe benefits on offer at Sovereign Housing Association
The benefits offered by Sovereign Housing Association:Pension and group riskA defined contribution (DC) salary sacrifice pension scheme for all employees, with employer-matched contributions up to a total of 12% (employee/employer).Life assurance for all employees at four times salary.Healthcare and wellbeingPrivate medical insurance (PMI) scheme, employer paid for all employees with ...
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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 ...
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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 ...