Women earn £8,400 a year less than men by the time they hit 50 16 April 2018
A new analysis of official statistics published by the TUC shows that the gender pay gap is at its widest when a woman hits 50, when the average woman working full-time will earn £8,421 a year less than the average full-time working man.
The research, which was published in advance of the gender pay reporting deadline on Wednesday 4 April, shows that women working full-time earn less than men annually at every stage of their careers from as soon as they turn 18.
Young women: The analysis reveals that the average young woman aged 18-21 working full-time starts her career on the back foot financially, earning £1,845 less than her male peers. And this pay gap is only set to increase. Women aged 22-29 working full-time can expect to earn £2,305 less than full-time working men their age. Women in their 40s: The gap in annual earnings more than doubles by the time women hit 40, leaping up from £3,670 a year at age 30 to £7,400 a year. The TUC believes this reflects the impact of motherhood on women’s earnings, when women find they are only able to return to work in lower-paid roles or cannot progress their careers after having moved to part-time employment. Women in their 50s: The pay gap widens further for women in their 50s, hitting £8,421 a year, as the longer-term impacts of getting stuck in lower paid work with few promotion prospects are felt and caring responsibilities – including for older relatives – continue to have an effect.
Read the full press release from the TUC.
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Manage and Register Pension Schemes service newsletter 13 April 2018
HMRC is moving pension scheme registration and administration onto a new digital platform to improve the service for pension scheme administrators and has produced a newsletter to keep stakeholders updated on the new service.
The new service is called Manage and Register Pension Schemes and this service will:
• provide a new digital platform for administrators to manage and register pension schemes • provide a digital account for all pension schemes and reporting • issue all HMRC notifications regarding registration through the new service • hold details of existing pension schemes, pension scheme administrators and pension practitioners following migration from the existing Pension Schemes Online service. This newsletter provides more information for pension scheme administrators and practitioners about HMRC’s work on the new service, each phase of IT releases and what this means for scheme administrators and practitioners of registered pension schemes.
Pension schemes Manage and Register Pension Schemes service newsletter - April 2018
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Countdown bulletin 33 – April 2018 18 April 2018
This publication provides important guidance and information to pension scheme administrators about the end of contracting-out, which although came to an end in April 2016 schemes are still submitting termination and transfer notices with end dates on or after 6 April 2016.
The Chartered Institute of Payroll Professionals
Payroll: need to know
cipp.org.uk
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