`The Chartered Institute of Payroll Professionals
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However, 20% of respondents who are willing to make that change is not insignificant. It shows the focus that is currently on employee financial wellbeing and the focus that will continue to grow in the future.
There are other methods for supporting financial wellbeing, the CIPP encourages businesses to explore their options. Thank you to all respondents of this quick poll.
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New Quick poll: Are you seeing an increase in employees pausing contributions to workplace pensions?
Published: 13 September 2022 Emailed: 14 September 2022
Recently there has been much discussion in the pension sector surrounding contributions during the cost-of-living- crisis. Specifically opting out or pausing pension contributions during the crisis.
On one hand, pausing contributions or opting out will allow individuals to keep more of their salary now if budgets are tight. However, this would come at the cost of long-term financial security for retirement.
As you can see, this is likely to be a personal decision and recommendations given for either side are to be given with great care.
The policy team here at the CIPP would like to know if you have experienced an increase in contributions pausing or opt outs? And if so, is the cost-of-living given as a reason to do so?
Head over to our news page to take part in our quick poll, it only takes a minute and is really appreciated.
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New Quick poll: which of the ‘mini budget announcements will impact you most?
Published: 26 September 2022 Emailed: 28 September 2022
On 23 September 2022, new chancellor of the Exchequer, Kwasi Kwarteng, delivered a ‘mini budget’, with the promise of tackling the energy crisis and the soaring cost-of-living.
There was nothing ‘mini’ abou t the budget, as a raft of policy changes and announcements were made, which will impact the work of payroll professionals, both now and in the future.
We want to hear from you, so we’ve posted a new Quick Poll on our News Online page to gauge which announcements will impact payroll teams most significantly? Is it the news that the increase to National Insurance (NI) rates will be reversed from 6 November 2022, or maybe the reduction of the basic rate of tax, from 20% to 19% from April 2023? Get involved, and have your say!
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Quick poll results: Are you seeing an increase in employees pausing contributions to workplace pensions? Published: 29 September 2022 Emailed: 5 October 2022
There were reports in the media that due to the cost-of-living crisis, people were pausing their pension contributions. We ran a quick poll to see if this was the case.
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