At a glance: reward and benefits headlines this week 28 April - 4 May
The headlines you might have missed between 28 April - 4 May
State pension review response kicked into next parliament, DWP confirms
Professional Pensions: The question of the state pension age will not be answered before the snap general election, the Department for Work and Pensions (DWP) has told PP. Read story
Tough master trust rules come into force as Pensions Bill gets Royal Assent
Professional Pensions: Members of master trusts will see greater protection as new rules for an authorisation regime and capital adequacy have been signed into law. Read story
Royal Mail puts forward cash balance scheme
Professional Pensions: Royal Mail has offered its employees a cash balance defined benefit (DB) scheme as a compromise for closing its current career average DB scheme to accrual. Read story
Vodafone New Zealand introduces family violence leave
Employee Benefits: Telecommunications organisation Vodafone New Zealand has introduced family violence leave as part of a new family violence policy to support its 3,000 employees. Read story
Pension Schemes Bill 2017 receives Royal Assent
Employee Benefits: The Pension Schemes Bill 2017, which legislates for greater protections around master trusts, has received Royal Assent. Read story
51% plan to review their employee benefits package this year
Employee Benefits: Around half (51%) of employer respondents plan to review their employee benefits package this year, according to research by Jelf Employee Benefits. Read story
Theresa May promises M&A veto powers for TPR if re-elected
Professional Pensions: The Pensions Regulator (TPR) will be given powers to block certain mergers and acquisitions (M&As) to protect pensions if the Conservative Party is re-elected on 8 June. Read story
DB funding sees little change over April despite political uncertainty
Professional Pensions: The combined funding level of the UK's defined benefit (DB) schemes stayed stable over April with just a £10bn increase in deficit, JLT Employee Benefits has estimated. Read story
Employers ‘pushing people into self-employment’ under guise of flexible working
People Management: Government should clamp down on gig economy firms, urge MPs. Read story
Uber to contribute to benefits for UK drivers
Employee Benefits: Taxi organisation Uber is to contribute towards a range of benefits, including sickness and injury cover, for eligible UK drivers. Read story
Mencap launches financial wellbeing programme for 6,000 staff
Employee Benefits: Learning disability charity Mencap has launched a financial wellbeing programme for its 6,000 employees. Read story
48% say financial education would help them save for retirement
Employee Benefits: Just under half (48%) of respondents believe that financial education would help them to save for retirement, according to research by Capita Employee Benefits. Read story
Linklaters raises awareness of suicide through workplace seminars
Employee Benefits: In 2016, law firm Linklaters held two seminars for employees on the topic of suicide. Read story
Emma Mamo: Staff should feel able to talk openly about mental health
Employee Benefits: Every suicide is a tragedy. The causes of suicide are many and complex and vary from person to person. We know that often people struggle in silence and find it difficult to know how to ask for help. Read story
Louise Ward: Conversation can break down barriers around suicide and mental health
Employee Benefits: Over the last 40 years, we have seen a step change in the safety performance of workplaces in Britain. There have been improvements in workplace health as well, however, the issue of mental health remains a real challenge. Read story
Re-enrolment and SalSac changes driving benefits reviews
Corporate Adviser: Pensions re-enrolment and the changes in the law governing salary sacrifice are the two main reasons employers are planning to review their overall benefits package, according to new research. Read story
Hermes to face legal action over holiday pay and national living wage
Employee Benefits: Courier delivery organisation Hermes is to face legal action over the entitlement of its couriers to workers’ rights, such as holiday pay and the national living wage. Read story
26% view employee engagement as a top priority for 2017
Employee Benefits: More than a quarter (26%) of UK HR professional respondents view increasing employee engagement as a top priority for 2017, according to research by Mercer. Read story
TUC: Triple lock must be maintained after snap election
Professional Pensions: The Trades Union Congress (TUC) has called for the triple lock on the state pension to be maintained by whoever wins the general election. Read story
Pfizer scheme enters £100m buy-in with Scottish Widows
Professional Pensions: Trustees of the Monsanto Pension Plan have agreed a £100m buy-in, protecting benefits for around 150 pensioners. Read story
Sainsbury's pension deficit more than doubles over 12 months
Professional Pensions: The combined deficit of Sainsbury's defined benefit (DB) schemes has climbed 119% in twelve months, according to its preliminary annual results. Read story
Short-term sickness absence policy: a 15-step guide for HR
Personnel Today: Putting together a short-term sickness absence policy can be one of the most daunting tasks an HR professional can face. We take you step by step through what a typical short-term sickness absence policy should contain. Read story
MPs call for government to put brakes on 'free riding' gig economy firms
Pensions Expert: The Work and Pensions Committee has called for employee and self-employed national insurance contributions to be equalised, arguing that following the introduction of the new state pension, the self-employed contribute far less. Read story
Employers do not want employment law changes post-Brexit
HR Magazine: Unfair dismissal laws and minimum wage legislation are widely supported by employers. Read story
Baringa Partners and McDonald’s named 2017’s Best Workplaces UK
Employee Benefits: Baringa Partners, Goodman Masson, McDonald’s Restaurants, and Salesforce UK are among the organisations that have been named as the UK Best Workplaces 2017 by the Great Place to Work Institute. Read story
91% view holiday pay laws as necessary
Employee Benefits: More than nine in 10 (91%) employer respondents view holiday pay laws as a necessary area of employment law, according to research by the Chartered Institute for Personnel and Development (CIPD) and law firm Lewis Silkin. Read story
FTSE 350 defined benefit pension deficit rises to £145bn
Employee Benefits: The accounting deficit of defined benefit (DB) pension schemes for the UK’s largest 350 organisations rose by £12 billion from £133 billion at the end of March 2017 to £145 billion at 28 April 2017, according to research by Mercer. Read story
Poll: 58% unaware of the legislative delay to the money purchase annual allowance reduction
Employee Benefits: Employee Benefits poll: More than half (58%) of employer respondents are not aware of the legislative delay to the changes to the money purchase annual allowance (MPAA). Read story
Slowed longevity improvements could wipe £310bn off total pension deficit
Professional Pensions: Schemes could see huge reductions in their liabilities on a funding basis if the recent slowdown in life expectancy improvements becomes a long-term trend, according to PwC. Read story
DB sponsors update mortality assumptions more frequently
Professional Pensions: Sponsoring employers are increasingly updating mortality assumptions at a more frequent rate to keep on top of changes in pension liabilities, according to Mercer. Read story
Older households on modest incomes 'should be top priority' for next government
Professional Pensions: A new government should focus on low to middle income households with people aged 50 up to state pension age, according to research. Read story
Should companies adopt a two-tier approach to salary sacrifice schemes?
People Management: Tax expert Craig Hughes explores employers’ options following April’s changes. Read story