News

Charity urges NI workers to ‘plan for retirement’

Almost half of workers in Northern Ireland expect to work beyond 65 to afford their retirement.

The FT Advisor reports employers are being tardy in setting up workplace pensions for their employees with many missing the deadline, according to research by Aviva.

Wages in Northern Ireland have dropped by 1% once inflation is taken into account, according to new figures from BBC website.

A typical full-time worker earns a £501 a week, or about £26,000 a year.

Although that is an increase of 1.5% on 2016, the rise in the cost of living has wiped out the impact.

The Government has confirmed that the National Minimum Wage (NMW) will rise by 3% with effect from 1 October 2014, in line with the recommendations of the Low Pay Commission (LPC).

The rise in the main adult rate from £6.31 to £6.50 an hour represents the first above inflation increase of the NMW in six years.

Chancellor George Osborne has delivered his Budget Statement to Parliament, setting out how the government will take further action to secure the recovery and build a resilient economy.