UK - Managing employee benefits effectively can make all the difference to staff performance and retention, law firm TLT says.
The firm’s pensions law expert Sasha Butterworth urged companies that have merged to handle pension benefits issues with care.
She pointed out that the supermarket chain Safeway was a classic example.
“A large company of approximately 90,000 employees will be assimilated into another supermarket chain, be it Morrisons or any another successful bidder.
“Yet the benefits of the staff in the merging companies might differ substantially, which could add to concern at an already unsettling time.
“Efforts need to be made to ensure benefits are harmonised as far as possible.”
Businesses are experiencing auto-enrolment data error rates of up to 50%, posing questions over the reliability of pension records, Pensionsync says.
A nationwide survey of committee and local pension board members of the Local Government Pension Scheme has revealed high levels of confidence in all areas of their responsibility.
UK inflation unexpectedly rose to 2.7% in August, beating analysts' expectations of a drop to 2.4% from 2.5% the previous month.