At a glance: reward and benefits headlines this week 12-18 May 2017
The headlines you might have missed between 12-18 May.
We must not get complacent amid political instability
Professional Pensions: Saker Nusseibeh questions the rationality of market exuberance when there is still massive uncertainty over the future economic and political landscape. Read story
Gowling WLG launches online benefits portal for UK staff
Employee Benefits: International law firm Gowling WLG has launched an online benefits portal that integrates a bespoke employee discounts scheme and concierge service for its UK employees. Read story
The Pensions Regulator names auto-enrolment non-compliant employers
Employee Benefits: The Pensions Regulator (TPR) has published the names of employers that have not complied with pensions auto-enrolment regulations after being issued an escalating penalty notice. Read story
International private medical insurance claims for depression rise by 50%
Employee Benefits: International private medical insurance (PMI) claims for depression increased by 50% between 2014 and 2016, according to research by Aetna International. Read story
Paul Avis: The bad news in Swiss Re’s 2017 Group Watch
Corporate Adviser: Adding 57 new employers to this year’s group income protection stats is nothing to write home about says Canada Life General Insurance marketing director Paul Avis. Read story
Global medical inflation to hit 7.8 per cent this year
Corporate Adviser: Inflation in the cost of group PMI is predicted to run at 7.8 per cent through 2017 globally, with UK like-for-like premiums expected to rise by 5 per cent, according to a poll of medical insurers. Read story
John Lewis Partnership protects future with LDI
Pensions Expert: The John Lewis Partnership Trust has introduced a liability hedging programme increasing its hedge ratio to 60 per cent, in a move experts said would protect significant recent contributions. Read story
Pension fraud hits monthly record high of £8m
Money Marketing: Figures from the City of London Police show losses from pension scams hit a record high in March of £8.6m. Read story
Employers anticipate median pay rises of just 1%
HR Magazine: Median basic pay expectations to March 2018 have fallen to 1%, compared to 1.5% three months ago. Read story
Reward fundamentals: The same but not the same
HR Magazine: The three fundamentals of reward are ever-evolving and merit serious attention and thought. Read story
82% offer benefits to retain employees
Employee Benefits: More than three-quarters (82%) of employer respondents offer benefits because they are an effective retention tool, according to research by Employee Benefits and Staffcare. Read story
MRL Group launches global paid sabbatical scheme
Employee Benefits: Technology recruitment organisation MRL Group has launched a new sabbatical leave scheme, enabling its 47 global employees to take a month of fully-paid leave after every five years of service. Read story
Paper Round gains living wage accreditation
Employee Benefits: Waste management organisation Paper Round has been accredited as a living wage employer by the Living Wage Foundation. Read story
How the government should act on the future of DB
Professional Pensions: James Phillips explores the diverse range of responses to the government's green paper on sustainability and affordability of defined benefit schemes. Read story
Royal Statistical Society calls for indexation overhaul with new measure
Professional Pensions: Schemes should stop debating whether to use the Retail Prices Index (RPI) or the Consumer Prices Index (CPI) and move to an entirely new measure, the Royal Statistical Society (RSS) has said. Read story
New employer benefit is anything but trivial
People Management: Until recently, benign companies that wanted to reward staff with drinks and nibbles on a Friday evening would have to bear the tax liability for this benefit in kind. No longer, as Tim Stovold reports. Read story
Direct Wines uses annual engagement survey to gauge value of financial education
Employee Benefits: Drinks organisation Direct Wines implemented a digital financial education programme for its 630 UK employees as part of its overall HR strategy. Read story
British Steel Pension Scheme moves step closer to RAA after terms agreed
Professional Pensions: Tata Steel has agreed the "key commercial terms" of a regulated apportionment arrangement with the British Steel Pension Scheme (BSPS) in a deal that could be worth in excess of £550m. Read story
Labour's pension plans receive nervous response from industry
Professional Pensions: The industry has reacted with concern after Labour revealed its plans to increase income tax, maintain the state pension age at 66, and impose new taxes on investments. Read story
'Shadow of Philip Green looms' as TPR issues dividend warning
Professional Pensions: The Pensions Regulator (TPR) has warned sponsors against prioritising dividend payments over contributions where there is a significant scheme deficit. Read story
Nearly half of UK workers say bosses put performance ahead of health
People Management: Employees are three times more likely to go to work unwell than ‘pull a sickie’; experts warn presenteeism is a false economy. Read story
43% plan to work remotely to improve morale
Employee Benefits: More than two-fifths (43%) of respondents intend to work remotely in the coming year in order to improve morale, according to research by global workspace organisation Regus. Read story
SMEs must look more broadly at wellbeing strategies
Cover: SME employers must look more broadly and strategically at workplace wellbeing, in particular mental health, to support employees to the best extent, a COVER webinar has found. Read story
Cadwalader boosts maternity pay in City as part of benefits package overhaul
The Lawyer: Cadwalader Wickersham & Taft has introduced a raft of new measures in its London office in an effort to improve the quality of its lawyers’ working lives and help consolidate its recent growth spurt. Read story
Half of UK workers borrowing to meet day-to-day bills
Corporate Adviser: Almost half of UK workers are borrowing to meet day-to-day financial needs and a quarter have monthly income fluctuations of more than 10 per cent, a report by Neyber has found. Read story
Dashboard moves to next phase
Corporate Adviser: A cost benefit analysis examining what the pensions dashboard will mean for the wider industry will be at the centre of the ABI-led next phase of the project, announced today. Read story
Labour party manifesto focuses on employment rights
HR Magazine: Jeremy Corbyn has said his policies would help to create “a fairer Britain”. Read story
39% believe their employer cares about their financial wellbeing
Employee Benefits: More than one third (39%) of employee respondents feel their employer cares about their financial wellbeing, according to research by Neyber. Read story
Tata Steel offers to pay £550m to British Steel pension scheme
Employee Benefits: Manufacturing organisation Tata Steel has offered to pay £550 million to the British Steel pension scheme (BSPS) to meet conditions of a regulated apportionment arrangement (RAA), which has been agreed in principle. Read story
Total pay increases by 0.1% in real terms
Employee Benefits: Total pay, including bonuses, increased by 0.1% in real terms in Great Britain between January-March 2016 and January-March 2017, according to research by the Office for National Statistics (ONS). Read story
Lib Dems launch manifesto pledging tax relief review and equalisation of survivor benefits
Professional Pensions: The Liberal Democrats have promised to launch a review of pensions tax relief with an aim of introducing a single rate if they win the snap general election. Read story
LGPS launches cost transparency code for asset managers
Professional Pensions: The Local Government Pension Scheme Advisory Board (SAB) has launched a transparency code to help schemes get a better handle on their costs and fees. Read story
Ten Group offers a range of benefits on a modest budget
Employee Benefits: Controlling benefits costs is a key challenge for the Ten (Transforming Education in Norfolk) Group, a federation of educational institutions in Norfolk. Read story
Regulator zeroes in on dividends
Pensions Expert: The Pensions Regulator has targeted employers who pay large dividends while underfunding defined benefit pension schemes in its latest annual funding statement, increasing the pressure on trustees to secure as much funding as possible. Read story
Conservative Party manifesto: The pensions pledges in full
Professional Pensions: The Conservative Party has promised to expand The Pensions Regulator's (TPR) and pension schemes' ability to scrutinise and, in some cases, block mergers and acquisitions. Read story
Lord Hutton blasts Labour's 'bonkers' pension pledges
Professional Pensions: Labour peer Lord Hutton has said there is nothing positive to say about his party's manifesto, which makes a "delusional" pledge to freeze increases in the state pension age. Read story
In defence of the universal state pension
Professional Pensions: Richard Butcher argues against means-testing the state pension after the OECD called for the wealthiest pensioners to be excluded. Read story
Atomic Weapons Establishment launches online financial education programme
Employee Benefits: National defence organisation the Atomic Weapons Establishment (AWE) has launched an online financial education programme for its 4,900 UK-based staff. Read story
Walmart to pay $7.5m settlement over same-sex spousal health insurance benefits
Employee Benefits: US retail organisation Walmart is to pay $7.5 million (£5.8 million) in a class action settlement relating to spousal health insurance benefits for employees in same-sex marriages. Read story
18% have overhauled their benefits portal in the last six months
Employee Benefits: Just under a fifth (18%) of employer respondents have overhauled their benefits portal in the last six months in order to take advantage of new developments in technology, according to research by Employee Benefits and Staffcare. Read story