At a glance: reward and benefits headlines this week
The headlines you might have missed between 23-29 September 2016
Stumbling blocks for employers on closing the advice gap
Money Marketing: The big, blue Pension Awareness Campaign bus toured Britain last week, marking the annual Pension Awareness Day on 15 September, which tries to break down the barriers preventing people saving enough for retirement and from getting guidance or advice. Read story
Unfinished business: What’s the auto-enrolment blueprint post-rollout?
Money Marketing:While pension freedoms have been stealing the limelight, another flagship initiative has been quietly rumbling away in the background – auto-enrolment. Read story
Sackers launches personalised financial education programme for staff
Employee Benefits: Pensions law firm Sackers has launched a new financial education programme for its 100 employees, including partners and support staff. Read story
9% of women are comfortable discussing period pain with their boss
Employee Benefits: Just 9% of respondents would feel comfortable speaking to their boss about their period pain, according to research by YouGov and the BBC. Read story
Public sector employers contribute seven times more to employee pensions than private sector
People Management: Private sector staff receive equivalent of 2.5 per cent of salary; better balance of risk and reward required, says CIPD. Read story
RBS scheme diversifies with US life settlements
Pensions Expert: The RBS Pension Scheme has made a number of new investments as part of its long-term plan to diversify its portfolio. Read story
One in five workers has taken a long-term absence in the past year
Health Insurance Daily: Almost one in five employees have taken a long-term absence from work in the previous 12 months, according to research from Legal & General. Read story
Gender pay gap won't close until 2069 unless more girls study STEM
HR Magazine: There is a significantly smaller gender pay gap for starting salaries in science, technology, engineering and maths (STEM) roles. Read story
Co-op’s pension surplus rockets 78% in a year
Professional Pensions: The Co-operative Group has reported a £564m increase in the combined surplus of its defined benefit (DB) schemes. Read story
FTSE 100 pension costs could double in three years
Professional Pensions: The cost of defined benefit (DB) schemes sponsored by FTSE 100 companies could double from £7bn to £14bn per annum by 2019, according to JLT Employee Benefits. Read story
Compensation for employee who ‘earned 69p per hour’
People Management: Newspaper delivery man receives largest ever individual payout; business blames method of calculation for underpayment. Read story
AE review should link pensions to other savings
Pay and Benefits: The government should use its forthcoming review of auto-enrolment (AE) to link pensions to other workplace savings and retirement options, according to a sector expert. Read story
Eleven IGCs come together for VFM benchmarking study
Corporate Adviser: Eleven Independent Governance Committees (IGCs) of workplace pension providers are collaborating in a benchmarking research project to assess pension scheme member attitudes to ‘value for money’ and better understand what they mean by the term. Read story
44% regularly feel stressed at work
Employee Benefits: More than four in 10 (44%) respondents regularly feel stressed at work, according to research by Benenden. Read story
Average salaries increase by 8.9% in the consultancy sector
Employee Benefits: Advertised salaries in the consultancy sector increased by 8.9% year on year in August 2016, according to research by Adzuna. Read story
BMW faces union backlash over DB closure plans
Professional Pensions: Unite has vowed to fight “tooth-and-claw” against BMW’s proposal to close its two defined benefit (DB) schemes to future accrual from 1 June 2017. Read story
Change to statutory indexation and scheme valuation method needed, WPC told
Professional Pensions: The Pensions Regulator (TPR) needs a more preventative and flexible approach to protect the Pension Protection Fund (PPF), the Work and Pensions Committee (WPC) has been told. Read story
John McDonnell: ‘No more Philip Greens’ under Labour
Professional Pensions: Shadow chancellor John McDonnell has pledged to change the law so members’ pensions are protected during takeovers, if Labour is elected at the next general election. Read story
Four-fifths of highest earners are men
People Management: Glass ceiling is becoming “more apparent” say LSE researchers, while Deloitte warns the gender pay gap won’t close until 2069. Read story
McKenna appointed to Treasury pensions dashboard steering group
Corporate Adviser: Finance & Technology Research Centre director and Corporate Adviser technology columnist Ian McKenna has been appointed to the Treasury’s pension dashboard steering group. Read story
BMW consults on closure of final salary pension schemes to future accrual
Employee Benefits: Car manufacturer BMW is to consult on the closure of its two final salary pension schemes to future accrual. Read story
Ben Group launches pensions engagement platform for staff
Employee Benefits: TV and film advertising organisation Brand of Entertainment Network Group (Ben Group) has launched a new pensions engagement platform for staff. Read story
70% want to access employee benefits from their mobile device
Employee Benefits: More than two thirds (70%) of employee respondents would like access to their employee benefits from a mobile device, but only 51% are currently able to do so, according to research by Thomsons Online Benefits. Read story
59% feel their employer supports their work-life balance
Employee Benefits: More than half (59%) of respondents believe their employer supports them in achieving a good work-life balance, according to research by Barnett Waddingham. Read story
British Airways returns to pension deficit as court showdown nears
Professional Pensions: The combined balance of British Airways’ (BA) defined benefit (DB) schemes has returned to a deficit after recording a surplus at the end of last year. Read story
TPR calls on public schemes to check compliance to avoid fines
Professional Pensions: The Pensions Regulator (TPR) is calling on public service schemes to check information about their pension board is published to avoid failing their governance duties. Read story
Waltham Forest to fully divest from fossil fuels by 2021
Professional Pensions: Waltham Forest Pension Fund has announced it will divest from fossil fuels over the next five years after concerns over stranded assets. Read story
TPR needs stronger powers to veto takeovers, says ICSA survey
Professional Pensions: The Pensions Regulator (TPR) needs stronger powers to block takeovers in order to safeguard pensions, according to a poll by the Institute of Chartered Secretaries and Administrators (ICSA). Read story
Labour ‘working on’ finding new shadow pensions minister
Professional Pensions: The Labour Party has not abandoned the role of shadow pensions minister, despite the post being vacant for several months, according to reports. Read story
Only half of employees have ‘good work-life balance’
Health Insurance Daily: Workers define this as having time to maintain a healthy lifestyle. Read story
Amey signs diversity and inclusion charter
Employee Benefits: Services provider Amey has signed the Chartered Institute of Highways and Transport Charter for Diversity and Inclusion. Read story
Law firm BLM to introduce online retirement planning tool for staff
Employee Benefits: Law firm BLM is to introduce an online retirement planning tool for its 1,700 employees. Read story
30% of digital marketers feel underpaid
Employee Benefits: Almost two-thirds (30%) of digital marketer respondents believe they are underpaid, according to research by digital agency Greenlight Digital. Read story
Editor’s opinion: The sacrifice of tax efficiency
Reward Guide: The consultation is under way – but what will the outcome – and impact – be? Read story
PPI: Demand for retirement income advice declines among DC savers
Professional Pensions: The number of people accessing regulated advice to purchase annuity and drawdown products fell in 2015 according to this year’s Future Book. Read story
Government should delay LISA launch, says industry
Professional Pensions: The government should delay the introduction of LISA according to PP research. Read story
One in three workers in AE but UK coverage is fragmented
Professional Pensions: More than a third of workers have been auto-enrolled but coverage is uneven across the country and people still do not understand pensions, according to two surveys. Read story