At a glance: reward and benefits headlines this week - 23-29 June 2017

Your quick-read round up of the reward and benefits stories appearing in the press in the past seven days.

The headlines you might have missed between 23-29 June

Incorporating flexible working into your recruitment strategy
HR Magazine: It’s vital to break down the perception that flexible working is linked to lower levels of employee commitment. Read story

Australian public office staff to receive 2% pay rise
Employee Benefits: Australian employees in public office positions are to receive a 2% pay increase following the latest decision by Australia’s Remuneration Tribunal. Read story

Allianz Worldwide Partners holds Learning at Work Week for UK staff
Employee Benefits: Insurance organisation Allianz Worldwide Partners has hosted its third Learning at Work Week, providing its 550 UK-based employees with access to activities designed to enhance their personal and professional development. Read story

27% increase member contributions to reduce defined benefit pension provision costs
Employee Benefits: More than a quarter (27%) of pension trustee, scheme sponsor, and pension manager respondents have introduced higher member contributions to reduce the cost of defined benefit (DB) pension provision, according to research by Aon. Read story

National Bring Your Dog to Work Day gives HR paws for thought
People Management: Almost two-thirds of People Management readers support bringing dogs to work. Read story

Conservatives concede triple lock for DUP support
Corporate Adviser: The state pension triple lock and winter fuel payment will remain in place for the rest of the current Parliament as a concession to Democratic Unionist Party in response for its support of the Conservative Party. Read story

Analysis: Does CP17/16 really make DB transfers easier?
Corporate Adviser: The FCA’s proposals for DB transfer advice are being interpreted as relaxing the rules. But the jury is out as to whether they will make transferring easier or harder. Read story

Pensions regulator reaches £74m settlement over DB scheme liabilities
Money Marketing: Pensions regulator says new deal will safeguard scheme with £85m ongoing deficit. Read story

Strathclyde hails transfer warning effort
Pensions Expert: A communications exercise warning members of the Strathclyde Pension Fund about the risks of cashing in their benefits has seen the scheme’s membership continue to grow despite declining payroll numbers. Read story

Higher-salary jobs less likely to offer flexibility
HR Magazine: Only one in 10 positions with a salary between £20,000 and £34,000 offer flexible working. Read story

DUP forces Tories to maintain triple lock in vote deal
Professional Pensions: The Conservative Party has abandoned dropping the triple lock on the state pension in order to secure a confidence and supply deal with the Democratic Unionist Party (DUP). Read story

DB schemes see £8bn improvement on 'best estimate' assumptions
Professional Pensions: Defined benefit (DB) schemes recorded a £295bn surplus at the end of May, according to First Actuarial's best-estimate index (FABI). Read story

Is it a good idea for employees to transfer out of a defined benefit scheme?
Reward Guide: Considering transferring out? WEALTH at work gives some tops tips around this important decisions. Read story

Tesco to increase hourly pay to £8.42 for store staff
Employee Benefits: Retail organisation Tesco will increase pay for hourly-paid store employees by 10.5% as part of a new pay deal, with the hourly rate set to reach £8.42 an hour by November 2018. Read story

13% would consider a new job if it offered benefits aligned with their needs
Employee Benefits: Less than one-fifth (13%) of employee respondents would be tempted to consider a new job if it offered benefits that were more aligned with their needs, according to research from Hays. Read story

‘First robo employee benefits broker’ launches
Corporate Adviser: An employee benefits platform offering group IP, critical illness, PMI and cashplans has gone live today and has been selected to enter the FCA’s regulatory sandbox safe trial zone. Read story

34% do not offer flexible working
Employee Benefits: More than a third (34%) of employer respondents do not offer flexible-working options, according to research by Aviva. Read story

Average advertised salaries fall by 1%
Employee Benefits: The average advertised UK salary fell by 1% between May 2016 and May 2017, according to research by Adzuna. Read story

ConvaTec utilises employee champions to engage remote staff with health and wellbeing
Employee Benefits: International medical products and technology organisation ConvaTec ran a steps challenge to launch a new health and wellbeing champions programme in 2015. Read story

This is the watershed moment for transparency, the government must act now
Professional Pensions: Shadow pensions minister Alex Cunningham says the FCA's final report on the asset management market is a turning point and urges the government to take action. Read story

Britain needs to start planning for the 100 year life
Professional Pensions: Improvements in longevity means individuals have to think creatively about how they might spend their time in later life, according to London Business School professor Andrew Scott. Read story

FCA's 'watered-down' report doesn't go far enough on transparency, say critics
Professional Pensions: The Financial Conduct Authority's (FCA) final report on its asset management study has been dubbed a turning point for cost transparency, but some have warned its actions are lacking. Read story

FCA reveals secret reform proposals from 'big three' consultants
Professional Pensions: The Financial Conduct Authority (FCA) has published the proposed reforms put forward by the big three investment consultants as it seeks industry views on whether to reject them. Read story

Parents put off shared leave by ‘complexity’ of rules
People Management: Fewer than 7,500 may have taken advantage of SPL last year, new figures suggest. Read story

Critics round on ‘insulting’ public sector pay cap vote
People Management: MPs shoot down bid to end cap, after speculation government’s position on the issue was changing. Read story

Regulator’s BHS report focuses on areas of improvement
Pensions Expert: The Pensions Regulator has highlighted the lessons it has learnt from the BHS case in a recently published regulatory intervention report, as experts stress the need for more proactive engagement. Read story

The foundations of a flex scheme
Reward Guide: When it comes to workplace benefits, today’s employee expects choice and accessibility – and the technology is there to make it happen. Read story

Presenteeism concern for half of workers
Corporate Adviser: A culture of negative judgement around sickness absence risks reducing productivity and increasing time off warns Willis Towers Watson. Read story

Starbucks UK enhances rental deposit loan scheme
Employee Benefits: Coffee organisation Starbucks has enhanced its rental deposit loan scheme for UK employees, enabling more staff to gain access to the benefit. Read story

54% offer a car allowance
Employee Benefits: More than half (54%) of employer respondents offer a car allowance, compared to 45% in 2016, according to research by Employee Benefits and Staffcare. Read story

38% believe workplace pensions are the safest way to save for retirement
Employee Benefits: More than a third (38%) of respondents aged under 40 years old or aged 40 and over who have not yet retired believe that a workplace pension scheme is the safest way to save for retirement in the period July 2016-December 2016, according to research by the Office for National Statistics (ONS). Read story

Poll: 34% want the new pensions minister to focus on simplifying pensions taxation
Employee Benefits: More than one-third (34%) of employer respondents want the new pensions and financial inclusion minister to prioritise the simplification of pensions taxation. Read story

47% start to save for retirement due to a life stage event
Employee Benefits: Almost half (47%) of global respondents start to save for retirement because of a life stage event, according to research by Aegon. Read story

54% feel under pressure to return to work early following an illness or injury
Employee Benefits: More than half (54%) of respondents feel under pressure to return to work before they have fully recovered from an illness or injury, according to research by Willis Towers Watson. Read story

Department for Education reports a 5.3% mean gender pay gap
Employee Benefits: The Department for Education has reported a mean gender pay gap of 5.3% for hourly fixed pay across its UK-based workforce. Read story

TPR budget boosted by £3.5m after DWP approves uplift
Professional Pensions: The Pensions Regulator (TPR) has been granted £3.5m of additional funds to boost its compliance and enforcement work, its non-executive chairman Mark Boyle has said. Read story

Ros Altmann: Net pay schemes with low earners could become future scandal
Professional Pensions: Businesses who use a net pay arrangement for defined contribution (DC) funds should reconsider enrolling their lowest earners into that scheme, Baroness Ros Altmann has said. Read story

Widows: Increase AE contributions to combat stalling pension adequacy
Corporate Adviser: Auto-enrolment contributions should be increased, the earnings qualification threshold should be lowered and the qualifying earnings should be dropped to reverse stalling pension adequacy amongst Britons says Scottish Widows. Read story

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