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Employment and Pensions Law (1 January – 14 January)

Employment News

Half of older workers want to avoid a ‘cliff edge’ retirement

People Management – 9 January

A recent survey of 1,007 workers, conducted by Aegon, concluded that 50% of respondents would like to retire gradually, even if that meant working longer. Many respondents would prefer to reduce the number of days they worked, whilst some would like to work fewer hours in a day: 70% and 44% respectively.

NHS plans criticised for lack of detail on staffing and recruitment

People Management – 7 January

The latest long-term plan for the NHS has been published and has been billed an ‘historic step’ in securing the future of the health service. However, the ten-year plan has brought up concerns over staffing and recruitment, with fears the NHS does not have the capacity to fulfil the intentions of the plan.

Men earn nearly twice as much as women in bonus pay

Employee Benefits – 3 January

According to figures from the Office for National Statistics (ONS), the average bonus in 2018 for men was more than double that for females: £2,613 and £1,158 respectively. Workers in London earned more than three times the national average bonus, which stood at £2,242.

Pensions News

Amber Rudd must 'must fix broken' DB transfer market

Professional Pensions – 9 January

MP Stephen Lloyd has called upon the new Secretary of State for Work and Pensions, Amber Rudd, to fix the broken pension transfer market. According to the Financial Conduct Authority (FCA), less than half of the given advice on pension transfers is suitable and there is suggestion a ban on contingent charging for pension transfers would be the most suitable course of action.

NHS facing ‘epidemic’ of pension opt-outs

People Management – 2 January

Nearly a quarter of a million NHS workers have opted out of their pension scheme between 2015 and 2017. 16% of staff have opted out, which experts have described as a concern that needs to be addressed with ‘urgent action’.

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