Pay and benefits
The new Pension Schemes Act gives the Pensions Regulator increased power to prosecute on behalf of scheme members who have been left shortchanged by the actions of a variety of people involved in a business. Simon Kew gauges how businesses should respond to the changes.
While continuing to deal with the impact of coronavirus, HR professionals must ensure that their organisation complies with the usual raft of April employment law changes. In April 2021, these changes include the extension of IR35 reforms to the private sector, a tweak to the national minimum wage age bands, and increases to statutory redundancy pay and statutory maternity pay.
HR professionals in public authorities may think that the extension of IR35 reforms to the private sector in April 2021 will not affect them. However, public-sector bodies need to be aware of, and prepare for, some changes to the rules.
A benefits scheme is a vital part of HR's recruitment and retention toolkit but employers are starting to realise that traditional off-the-shelf packages are no longer the best way to meet changing employee needs and attract new talent.
Changes to off-payroll regulations were postponed in April as employers dealt with the early challenges of the pandemic. Organisations need to get their houses in order now if they are to avoid exposing themselves to additional risks and costs, says Dave Chaplin.
2020 was the year that HR was required to react to the unexpected, but it's now time to plan for the known challenges in the coming year. We look at what HR can do to prepare for 2021.
Changing the defined contribution (DC) pension scheme might be something organisations are considering in the context of furlough or simply in the course of your ordinary business. Done well, change exercises can be a great opportunity to educate and engage employees about pension benefits. Helen Rowan identifies eight practical steps that HR teams should consider to make the pension change a success.
With almost a quarter of roles in the UK now accessing the Government's furlough scheme, many employers have raised questions around salary sacrifice and pensions contributions. Rachel Meadows outlines the additional costs and risks organisations could face.
Each April, HR professionals must ensure that their organisation complies with the latest round of amended employment laws and deadlines. As well as dealing with the ongoing impact of coronavirus (Covid-19), important issues for HR in April 2020 include changes to written statements of terms and conditions, the introduction of parental bereavement leave and pay, and changes to the law on calculating holiday pay for workers with irregular hours.
From 6 April 2020, the IR35 tax regulations extend to the private sector. Medium-sized and large private-sector organisations need to prepare now for the proposed changes to the rules.
Commentary and analysis: HR and legal information and guidance relating to pay and benefits.
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© 2021 LexisNexis Risk Solutions Group.