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At a glance: reward and benefits headlines this week 14-20 August 2020

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 14-20 August 2020. 5D76-1597649909_headlinesMAIN.jpg

Current rate of SSP can be seen as a “Financial disincentive to self-isolate”
HR Review: The current rate of Statutory Sick Pay (SSP) can be seen as a “financial disincentive to self-isolate”, leading to employees who are showing mild COVID-19 symptoms to continue to work. Read story

TPR crackdown on scheme funding will see contingent strategy use grow
Professional Pensions: A number of regulatory and economic factors including a tougher line on scheme funding from The Pensions Regulator (TPR) means interest in the use of contingent strategies will grow, Lane Clark & Peacock (LCP) finds. Read story

Independent Television News reports mean gender pay gap of 9.7%
Employee Benefits: Independent Television News (ITN) has reported a mean gender pay gap of 9.7% for average hourly pay as at April 2019. Read story

Bakkavor provides full sick pay for 1,600 employees
Employee Benefits: Food manufacturer Bakkavor will pay the 1,600 employees at its Newark dessert factory sick pay, if they need to self-isolate due to the health risks of Covid-19 (Coronavirus). Read story

Tobermore launches employee health and wellbeing app for staff
Employee Benefits: Manufacturing organisation Tobermore has introduced a health and wellbeing app to support the mental health of its 300 employees. Read story

Half of managers believe employees risk burnout
Cover: As many as 47% of managers said they believe their employees may be at risk of burnout, as a result of changing work patterns and shifting behaviours due to Covid-19, a new report has revealed. Read story

78% of employees say Covid-19 has highlighted importance of having savings
Employer News: In a survey[1] conducted amongst 3,000 adults in the UK, 77.5% said that the recent pandemic has made them realise the importance of having savings to fall back on. Read story

Why employers should be encouraging workers to take annual leave to support mental wellbeing
HR News: With the August Bank holiday coming up, as well as many people having had to delay holidays due to the pandemic, Adrian Lewis, director at Activ Absence, is urging employers to remind workers about the importance of taking annual leave for their mental wellbeing. Read story

Covid-19 to increase gender pensions gap
Corporate Adviser: The coronavirus pandemic is likely to exacerbate the gender savings gap, with a greater proportion of women saying they will decrease pension contributions in the next six months. Read story

Family Building Society DB scheme moves into TPT master trust
Professional Pensions: The Family Building Society’s 250-member defined benefit (DB) scheme has transferred into TPT Retirement Solutions’ master trust, DB Complete. Read story

L&G, Willis Towers Watson and USS unite behind black graduate intern programme
Professional Pensions: More than 80 major fund management firms will come together to offer a range of investment internships to black graduates. Read story

Experts query whether £31m offer will satisfy TPR in Box Clever case
Pensions Expert: ITV has put forward an initial offer of £31m to the Pensions Regulator of financial support for the struggling Box Clever Pension Scheme, following an eight-year courtroom battle. Read story

Majority of employers support living wage increase, report finds
People Management: But some businesses say they would need government support to manage the rise in costs, including help investing in skills and training. Read story

Furlough scheme extension could save two million jobs, says think tank
People Management: Experts warn ‘years of experience and dedication’ could be lost without extra support when the job retention scheme ends in October. Read story

Schroders introduces permanent remote working policy for 5,000 global employees
Employee Benefits: Asset management organisation Schroders is introducing a permanent flexible working policy for over 5,000 of its global employees, to deal with the shift in working expectations due to the Covid-19 (Coronavirus) pandemic. Read story

New Zealand government extends wage subsidy scheme
Employee Benefits: The New Zealand government has extended its new wages subsidy scheme by two weeks to support employees who have been affected by the Covid-19 (Coronavirus) pandemic. Read story

Microsoft UK reports 8.3% mean gender pay gap
Employee Benefits: Microsoft UK has reported a mean gender pay gap of 8.3% for average hourly pay as at April 2019. Read story

Why this firm offers £££s to staff for pets
HR Grapevine: Work perks play a huge role in the workplace. Not only do they help HR and employers attract new talent into the organisation, but they also help to keep existing staff happy and motivated, which has huge benefits for the business too. Read story

Pay equality and benefits key considerations for future of flexible working
Workplace Insight: Around half of UK workers polled in a new study, think that pay and benefits should be based on ability, regardless of where an employee is located. Read story

Carclo agrees to increased deficit repair contributions
Pensions Age: Global plastics manufacturer and supplier, Carclo, has reached an agreement with its pension scheme trustees to make deficit repair contributions (DRCs) totalling £10.5m over the next three years. Read story

UK tech workers believe location should be unrelated to pay
HR Magazine: Almost half (49%) of UK workers at tech SMEs said they believe pay and benefits should be based on ability rather than location, and more would like further remote opportunities according to a poll from software company Remote. Read story

The Landmark London receives London Healthy Workplace Award
Employee Benefits: Luxury hotel The Landmark London has received the London Healthy Workplace Award, after being recognised for its commitment to supporting the health and wellbeing of its 350 employees. Read story

BaptistCare ordered to pay employees $1 million in back wages
Employee Benefits: Australian nursing organisation BaptistCare has entered into a Enforceable Undertaking with The Fair Work Ombudsman and has been ordered to pay its employees more than $1 million (£548,000) in back wages. Read story

Rebecca Adlington OBE draws mental health parallels between sport and business
Cover: Not A Red Card Ambassador & former Olympian Rebecca Adlington OBE will speak on burnout at industry event. Read story

Employers need to ‘ramp up’ mental health support as depression increases
HR Review: During the COVID-19 pandemic the number of people suffering from depression has almost doubled, with calls being made for employers to “ramp up” mental health support for their workers. Read story

Covid crisis revolutionises way employees access health benefits
Corporate Adviser: Brett Hill, distribution director at Towergate Health & Protection, say employers can benefit from increased awareness and engagement with digital health benefits. Read story

LGPS funds report satisfactory knowledge in national assessment
Professional Pensions: Understanding of topics that have traditionally been the focus of Local Government Pension Schemes (LGPS) fund committees is high, Hymans Robertson has found. Read story

Nest: Covid-19 the 'first big shock' to test AE durability
Professional Pensions: The premise of auto-enrolment (AE) as a tool to boost both short- and long-term financial resilience will face its first true test as the effects of Covid-19 continue to play out, says Nest. Read story

Siemens completes £530 million pensions buy-in transaction
Employee Benefits: German manufacturer Siemens has completed a £530 million buy-in for its defined benefit (DB) pension scheme, securing pension benefits for more than 2,000 UK-based retirees. Read story

A Cut Above Landscape ordered to pay $110,602 in back wages to 85 staff
Employee Benefits: Florida-based landscaping business A Cut Above Landscape and Maintenance has been ordered to pay 85 employees $110,602 (£83,687) in back wages  after an investigation by the US Department of Labor’s Wage and Hour Division (WHD) discovered it was violating federal law. Read story

75% of employees are happier working from home
Employee Benefits: Three-quarters (75%) of employees in the UK are happier working from home, according to research by Huawei. Read story

Hitachi Solutions reports mean gender pay gap of 22.3%
Employee Benefits: Hitachi Solutions has reported a mean gender pay gap of 22.3% for average hourly pay as at April 2019. Read story

Australia Post rewards 33,000 employees with recognition bonus
Employee Benefits: Australia Post will give its 33,000 employees an average payment of $600 (£329) to reward them for their efforts during the Covid-19 (Coronavirus) pandemic. Read story

Govt urged to include 'vast majority' of pension schemes on initial dashboard
Pensions Age: The government must ensure the vast majority of schemes, including defined benefit schemes, participate in the pensions dashboards from day one, according to AJ Bell. Read story

Supreme Court partially allows pension IHT appeal
Pensions Age: The Supreme Court has partially allowed an appeal in a case centred around inheritance tax (IHT) charges following a pension transfer and omission of drawing pension benefits. Read story

Work-life balance and commuting bigger concern than covid-19 for return to office
HR Review: Employees are most concerned about their work-life balance and their commute to work rather than the risk of COVID-19 if they return to the office. Read story

Charge cap: No increase and end flat fees say consultants
Corporate Adviser: The DC pension charge cap should not be reduced below 0.75 per cent, and flat fees should be prohibited say leading consultancies. Read story

Long-running Staveley court case clarifies rules on pension transfers in ill-health
Professional Pensions: The long-running HM Revenue & Customs (HMRC) v Parry & Ors case, otherwise known as the Staveley case, has concluded Staveley’s actions gave rise to an inheritance tax bill, bringing clarity around pension transfers or switches made in ill-health. Read story

One in eight workers still on furlough, official data shows
People Management: Figures also reveal the majority of employers are topping up the wages of those on the job retention scheme ahead of this being required in September. Read story

Brands2Life launches employee ownership trust
Employee Benefits: Communications agency Brands2life has given its 140 employees part-ownership of the business, using an employee ownership trust. Read story

University of East Anglia temporarily freezes pay rises for employees
Employee Benefits: The University of East Anglia (UEA) has introduced a number of pay measures for over 3,000 employees to deal with the financial ramifications of the Covid-19 (Coronavirus) pandemic. Read story

RPI/CPIH alignment could leave pension schemes £80bn worse off – PLSA
Pensions Age: The Pensions and Lifetime Savings Association (PLSA) has warned the government that plans to align the Retail Price Index (RPI) with the Consumer Price Index including owner occupiers’ housing costs (CPIH) could leave pension schemes £80bn worse off. Read story

UK CEOs leading the way on employee wellbeing
HR Magazine: UK CEOs are leading the way in recognising the toll the coronavirus pandemic is having on their employees, new research from PwC has found. Read story