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ISSUE 3
Genuine Living Wage Through changes to the remit of the Low Pay Commission, there is a commitment to remove any age differentials and ensure that the minimum wage is a genuine living wage. The current real living wage is £12 per hour. Will this affect salary sacrifice arrangements? Pension Schemes Bill This is to prevent people from losing track of pension pots and require pension schemes to offer retirement products “ so people have a pension and not just a savings pot when they stop work ”. It’s going to be busy So 2024 and 2025 are going to see significant changes in employment rights which will have an impact on business, HR management and payroll. Employers will need to consider their employment terms, benefit packages and how payroll is to be changed.
workers earn below the current weekly £123 qualifying amount - this exclusion and the 3-day waiting requirement have been viewed as disproportionately affecting those who are part-time and those in multiple low-paid jobs – the lowest paid. Trade Unions and negotiating bodies: Establishing a Fair Pay Agreement in the adult social care sector and looking at extending it to other sectors Reinstating the School Support Staff Negotiating Body and establishing national terms and conditions, career progression routes and fair pay rates. Removing unnecessary restriction on trade unions ensuring industrial relations are based on good-faith negotiations and bargaining Simplifying the process of statutory recognition to provide reasonable access to a union within the workplace.
Author: P Simon Parsons MSc FCIPPdip MBCS
Simon Parsons has been a major contributor to SD Worx’s payroll expertise since 1984. Besides being influential in the development of SD Worx’s payroll services, he is also a key presence on several HMRC consultative groups and committees. A fellow of the Chartered Institute of Payroll Professionals and one of the original Masters of Science in Payroll Management, Simon is a regular author and speaker on reward and payroll. He is Chair of IReeN, the electronic exchange with government user network, and Honorary Chair of the BCS (the
chartered institute of IT) Payroll Specialist Group. Simon is a regular GPA panellist and contributor. Payroll, HR and Legal Services | SD Worx
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