Employers and Cost of Living

[totallybonafido]

There was a thread about this a couple of months ago, but not many employers seemed to have done anything at that time - maybe more have now that it's getting colder and Christmas is coming?

Has your employer made any extra cost of living payments to you, aside from your usual expected payrise or bonus, if you have one?

DD had a £100 from her zero hours job. Pretty good actually for a student only working odd hours. They also pay the maximum NMW for all ages regardless too. She was very pleased.

DH's company are giving lump sum to lower paid workers, think it is £1,500.

Yes - DH employer giving everyone £1k this month towards COL and Christmas. They also get a proper breakfast spread once a week.

My work has always given everyone £500 at Christmas and there are rumours it will be double this year. They have also implemented free lunch on the Friday before payday as well as free fruit/teas/coffees in the office.

We both work for small companies (less than 100 employees) in the creative industry which really suffered through the lockdown.

No, but other than very recent hires, the salary increases we're proposing for 2023 are a little better than the usual yearly %.

We are expecting nursery fee rises of 10%, a rent rise of 10% as well as CTAX etc. This will help us keep head above water.

No cost of living payment but everyone's salary was increased by £2,500. So it was a bigger payrise than usual for the majority of staff and smaller than usual for the more senior managers.

Nothing. And no col payment from the government- I’m too wealthy apparently
i increased my hours tho
yippeee

Mine has switched half the heating off and work and hands out fleecey blankets in reception.

I got a €1000 COL payment.

I'll be getting a €500 Christmas bonus and a pay rise of €100 extra a month starting in January.

Small educational supplies company who are excellent to work for.

On the plus side I volunteer at Citezens Information and am very impressed at the extra payments people on social welfare are getting.

My DH got his first payrise since joining the civil service 3.5 years ago. We waited with baited breath……..1%!!! 😡 😡 We worked out that had his pay kept up with inflation over the last 3.5 years he would be on about £12.k more, plus he’s lost thousands in back pay and pension contributions. So annoying.

I work for the NHS and recently went from a band 5 to a 6. They missed the cut off for payroll last month so I’m getting my back pay this month. For 6 weeks it’s a measly £39 😬 😡

Yes. My pay rise was higher than usual to account for inflation (that was across the board) then lower earners in the business got a CoL payment in the autumn, over and above bonus.

I m not sure as I dont understand it either! It seems something like .from what I can gather..say the guy was entitled to £400 support on normal wages from Universal credit...so he gets from emplyer £1000 pays tax on the whole wage say £2500 so he is obviously taxed more then it leaves him however much then this goes over his UC allowed level say £1800 then whatever is left is taken at 55p ,So I think they are looking at it as loosing there 400 normal alloance plus loosing the remainder too. I guess they are thinking its a tripple whammy blow ! So more tax paid at source,then no usual allowance so take the 400 off the extra taxed 1000 then loosing over half what was left? They were according to my husband quite miffed!!!! I would see it as having 1000 more than when I started but they were in a fifferent position to us! Either way I would look as something is better than nothing but I guess they dont look at it that way! I am a half full cup kind of person though!

Oh yes I can see how you’d hit quite a high marginal ‘effective’ tax rate, as the £1k would be subject to tax (20%) and employees NI (12%) assuming that they’re a basic rate taxpayer. So £680 left, maybe less if pension contributions increase. On which universal credit is withdrawn at 55p for every £. So another £374 gone. That still leaves £306 they wouldn’t have had, though is a marginal tax rate of nearly 70%. But, the benefits system is meant to be a top-up, not an entitlement…