`The Chartered Institute of Payroll Professionals
News On Line
Due to the reversal of the 1.25 percentage point increase to National Insurance (NI) contributions from 6 November 2022, the payslip message explaining the uplift can now be removed.
Payslip messages can be a useful tool for delivering key messages to employees. Employers / agents may wish to use the payslip message from November to explain the uplift has been reversed, so employees will see a lower NI deduction, and therefore an increase in take home pay.
We are sure this will come as a welcome relief to employees, and employers alike, during the cost-of-living crisis.
Back to contents
ONS report reveals gender pay gap data for 2022 Published: 27 October 2022 Emailed: 2 November 2022
2022 “gender pay gap in the UK” report . This report explores the Annual Survey of Hours and Earnings (ASHE) data to derive conclusions and assess trends in gender pay gaps.
For full-time workers the gender pay gap was up from 7.7% in April 2021 to 8.3% in April 2022. However, this was down from April 2019, which would be pre-pandemic, at 9.0%. ONS have warned that due to estimates made of the coronavirus periods data disruption may be present and long-term trends should be the focus, rather than year-on-year changes.
Other notable points identified are:
• employees over 40 years old and those aged below 40 still show a large difference in gender pay gaps, with those over 40 having a gap up to four times higher than those under 40 • higher earners have a much larger gender pay gap • managers, directors and senior officials saw the biggest drop in pay gap since pre pandemic levels, this group has a notable impact on the pay gap, however, the gap still sits at about 10% • Scotland and Northern Ireland report smaller gaps than and English region.
The ONS provides a variety of graphics, interactive charts and further reading. If you would like to dive further into the data, we encourage you to explore the ONS reports and website.
Back to contents
Get ready for Talk Money Week Published: 31 October 2022 Emailed: 2 November 2022
The Money and Pensions Service (MaPS) is encouraging organisations to get involved with Talk Money Week, which will take place from 7 – 11 November 2022. It is the opportunity to get involved in prompting people to have more upfront discussions about their money, particularly given the current cost-of-living crisis.
Businesses are invited to take part regardless of their sector or size, as research has highlighted the fact that those who discuss money make better financial discussions and feel less stressed, among many other things.
The Talk Money Week website includes a range of ideas and resources to help organisations to get involved in the week. This is all held within a handy participation pack. There ’s still plenty of time to get involved, and to encourage your staff to talk about money more openly and confidently.
CIPP comment
To recognise Talk Money Week, the CIPP will also be hosting a BeKnowledgeable session on financial well-being on 8 November 2022. This will feature a panel of experts, all of whom have implemented financial well-being initiatives in their workplace. Don’t miss out, you can sign up here.
cipp.org.uk
Page 144 of 238
Made with FlippingBook - Online magazine maker