All articles by Zoe Wickens – Page 98
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ArticleShell UK reports -31.4% to 38.9% mean ethnicity pay gaps
Shell UK has reported mean ethnicity pay gaps for 2023 that range from -31.4% to 38.9%, compared to -5.% to 36.2% in 2022.The energy firm calculates its ethnicity pay gaps using six ethnic groups.For mixed and multiple ethnic groups, the mean and median ethnicity pay gaps were 26.3% and 30.7% ...
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ArticleVirgin Money reports 26.4% mean hourly gender pay gap
Virgin Money has reported a 26.4% mean hourly gender pay gap for 2023.This is lower than its 32.5% gap for hourly fixed pay at April 2017 and 36% in April 2016.The financial services firm’s median hourly pay gap was 34.6%, with 61.2% of males and 38.8% of females in its ...
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ArticleBoots completes £4.8 billion pension scheme buy-in
Credit: Martin Good / Shutterstock.comRetailer Boots has completed a £4.8 billion pensions buy-in.The transaction with Legal and General will secure the benefits of all 53,000 retirees and deferred members of the scheme. This buy-in begins the conclusion of a de-risking process that the scheme first embarked on in 2001.Aon acted ...
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Article
Boots completes £4.8 billion pension scheme buy-in
Retailer Boots has completed a £4.8 billion scheme buy-in for its pension scheme.The transaction with Legal and General will secure the benefits of all 53,000 retirees and deferred members of the scheme. This buy-in begins the conclusion of a de-risking process that the scheme first embarked on in 2001.Aon acted ...
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ArticleThe top 10 most-read articles between 17 - 23 November 2023
The top 10 most-read articles on employeebenefits.co.uk between 17 - 23 November 2023 were: UK Supreme Court rules Deliveroo riders are not workersNational living wage to increase in April 2024Exclusive: Unum UK introduces exercise and wellbeing benefit for staff42% of employers plan to reduce flexibility for staff in 2024Tribunal rules ...
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ArticleMaths, Business and PE GCSEs result in higher lifetime earnings
Something for the weekend: We often hear of the impact higher education qualifications can have on earnings potential, but it appears that selecting certain GCSE subjects could also give salaries a boost in later life, according to research by online tutoring service Tutor House.Its analysis of the Office for National ...
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ArticleInverclyde Council awards staff pay rise
Inverclyde Council has announced that the majority of its 4,000 members of staff will receive a pay rise before Christmas.The council will implement a pay increase agreed by the Convention of Scottish Local Authorities (COSLA) leaders earlier this month. The increase is part of a revised pay offer from COSLA ...
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ArticleGBS Automation introduces occupational health services
GBS Automation has launched occupational health services for its 25 employees in order to support their health and wellbeing.The firm specialises in the design and manufacture of industrial automation equipment for the fast-moving consumer goods industry, including baking equipment. As its employees are exposed to fabrication processes, chemicals and activities ...
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ArticleHow will the Autumn Statement 2023 affect pay, pensions and employee benefits?
Autumn Statement 2023: Chancellor of the Exchequer, Jeremy Hunt, delivered his Autumn Statement speech in the House of Commons on Wednesday 22 November. A number of key announcements were made that will affect pay, pensions and benefits.Autumn Statement: Government announces plans to offer pension pot for lifeAutumn Statement: State pension ...
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ArticleBarratt Developments hires new group HR director
Barratt Developments has appointed Sally Austin its new group HR director, becoming a member of the Barratt executive committee and reporting to chief executive David Thomas.Austin will continue the people strategy for Barratt, prioritising diversity and inclusion, engagement, talent management, and employee health and wellbeing in particular.She joins from Wincanton, ...
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ArticleAutumn Statement: Government welcomes Value for Money framework update
The government has welcomed next steps towards implementing the Value for Money framework in the defined contribution (DC) pensions market.The Financial Conduct Authority (FCA) will launch a consultation next spring on the next steps of the new Value for Money framework and rules for contract-based DC schemes.As part of this, ...
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ArticleAutumn Statement: Government to reform fit note process
The government is to take steps to reform the fit note process to support more people to resume work after a period of illness.Announced in today’s Autumn Statement by Jeremy Hunt, Chancellor of the Exchequer, trials in a small number of Integrated Care Systems in England will test changes to ...
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ArticleAutumn Statement: Government to meet requests for occupational health guidance
The government has published its response to its Occupational health: working better consultation, in which it stated it will meet employers’ requests for clearer guidance and support.Launched in July, the consultation was exploring a possible extension of occupational health (OH) services to more employers.The government published its response at the ...
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ArticleAutumn Statement: Government to reform work capability assessments
The government is to reform work capability assessments so more individuals receive the right support to find work where they can.Announced in today’s Autumn Statement by Jeremy Hunt, Chancellor of the Exchequer, the activities and descriptors in work capability assessments for new claimants will be updated to support long-term sick ...
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ArticleAutumn Statement: National insurance contribution rate cut to 10%
Class 1 national insurance contributions (NICs) will be cut to 10% from 6 January 2024.Currently, employees pay 12% NICs on earnings above £12,570, and 2% on earnings above £50,270. From next year, employees will pay 10% and 2% respectively. According to the government, which announced the move in the Autumn ...
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Autumn Statement: Government to reform work capability assessments
The government has announced that it will reform work capability assessments (WCA) so that more individuals receive the right support to find work where they can.Announced in today’s Autumn Statement by Jeremy Hunt, Chancellor of the Exchequer, the activities and descriptors in WCA for new claimants will be updated to ...
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ArticleAutumn Statement: State pension to increase by 8.5% from April 2024
The state pension will increase by 8.5% from April 2024.Jeremy Hunt, Chancellor of the Exchequer, announced the rise in the Autumn Statement, with the increase based on average earnings data published in September and in line with the government’s triple lock policy on pension changes. Hunt confirmed that the state ...
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ArticleAutumn Statement: Government announces plans to offer pension pot for life
Chancellor of the Exchequer Jeremy Hunt has announced plans to offer a pension pot for life in the Autumn Statement 2023.This will give employees a legal right to require a new employer to pay pension contributions into their existing pot, avoiding the accumulation of multiple pension pots throughout their working ...
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ArticleNational living wage to increase from April 2024
The national living wage is to increase from April 2024.Jeremy Hunt, Chancellor of the Exchequer, has announced it will rise by 9.8% to £11.44 per hour and will apply to those aged 21 and over for the first time. A full-time worker aged 23 will receive an increase worth £1,800 ...
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ArticleHalf of UK deskless workers live pay cheque to pay cheque
Half (50%) of UK deskless workers live pay cheque to pay cheque and are without spare cash once monthly bills are paid, according to research by OC Tanner.The employee recognition firm’s 2024 Global culture report gathered insights from more than 42,000 employees, leaders, HR practitioners and executives from 27 countries, ...