At a glance: reward and benefits headlines this week 17-23 November 2017
The headlines you might have missed between 17-23 November
Pension Wise ads cost government nearly £18m
Professional Pensions: The government has spent £13.25m on advertising for Pension Wise since 2014, with an additional £4.5m planned this tax year. Read story
Poll: 44% plan to offer a party or event as a Christmas incentive for staff
Employee Benefits: More than two-fifths (44%) of respondents are planning to offer a party or event as a Christmas incentive for their employees this year. Read story
Salary Exchange rebrands to Caboodle
Employee Benefits: UK employee benefit provider Salary Exchange has rebranded to Caboodle. Read story
Mace holds global wellbeing week for 5,300 staff in 12 countries
Employee Benefits: International consultancy and construction organisation Mace has held a global wellbeing week for its 5,300 employees in 40 operating locations across 12 countries. Read story
UUK proposes axing future accrual in USS
Professional Pensions: Universities UK (UUK) has proposed ending future accrual of defined benefit (DB) promises and transferring members to the existing defined contribution (DC) plan. Read story
Steve Webb: Pensions tax relief cuts – my odds on the options open to Hammond
Corporate Adviser: Pension tax relief is likely to be in the firing line in next week’s Budget says Royal London director of policy Steve Webb. He sets out the Chancellor’s main options, and his assessment of the likelihood of each of them happening. Read story
Court in the Act
Reward: This year has seen a host of tribunal rulings that are set to impact on reward throughout 2018 and beyond, as Martin Pratt, Partner at Gordon Dadds, explains. Read story
Tribunal victory for employees who rejected switch to monthly pay
People Management: Postal workers have recorded a ‘landmark’ legal victory after an employment tribunal found their employer was unable to impose a change of pay schedule from weekly to monthly without their explicit consent. Read story
Health Shield acquires Medex Protect
Employee Benefits: Health cash plan provider Health Shield has acquired specialist private medical insurance (PMI) excess and shortfall protection organisation Medex Protect. Read story
CIPD reports a 14.9% mean gender pay gap
Employee Benefits: The Chartered Institute of Personnel and Development (CIPD) has reported a mean gender pay gap of 14.9% and a median gender pay gap of 10.8% as at 5 April 2017. Read story
GVA to launch online financial education programme
Employee Benefits: Real estate advisory organisation GVA is launching an online financial education programme for its 1,500 employees across 11 UK operating sites. Read story
MPs publish draft Bill to close gig economy loopholes
HR Magazine: A new 'worker by default' status has been recommended by a joint draft Bill on ending gig economy exploitation from the Work and Pensions and Business Committees. Read story
Forces win back payout for family bereavement
Pensions Expert: The Ministry of Defence has agreed to introduce the Short-Term Family Pension to the Armed Forces Pension Scheme 2015. The provision, which is in place for members of the 1975 scheme, was not carried over to the new 2015 scheme. Read story
Staffcare relaunches as Zest
Employee Benefits: Employee benefits technology provider Staffcare has relaunched its business as Zest, and simultaneously launched its new benefits technology platform. Read story
63% are aware of how GDPR legislation will impact pensions
Employee Benefits: Almost two-thirds (63%) of respondents are aware of how the General Data Protection Regulation (GDPR) legislation will impact workplace pensions according to research by Employee Benefits and Nest. Read story
Are more transfers a blessing or curse for schemes?
Professional Pensions: There has been a huge rise in the number of DB to DC transfers since 2015. Stephanie Hawthorne looks at how demand is changing and what these changes mean for schemes. Read story
The changing landscape of Total Rewards
Incentive and Motivation: As organizations begin the journey toward a fully integrated total rewards program, one of the challenges they face is understanding the best way to attract and retain a workforce that has varying priorities. Read story
Now Pensions invests £65m in green bonds
Professional Pensions: Now Pensions has invested approximately £65m worth of green bonds through its diversified growth fund (DGF). Read story
Leicester City Council to pay 1,800 staff living wage increase
Employee Benefits: Leicester City Council is to increase pay for 1,800 employees in line with the voluntary living wage increased rate of £8.75. Read story
University of London faces lawsuit over collective bargaining on pay and conditions
Employee Benefits: The University of London is facing a lawsuit filed by The independent Workers Union of Great Britain (IWGB) to argue the case of broadening the trade union rights of outsourced workers. Read story
Autumn Budget: Personal allowance to increase
Money Marketing: In today’s Autumn Budget Chancellor Philip Hammond announced the personal allowance will rise to £11,850 per year from April 2018. Read story
Business as usual as Chancellor leaves pensions alone
Pensions Age: It is welcome news for many in the pensions industry as Chancellor Philip Hammond chose to leave pensions alone in his Budget announcement today. Read story
TPR to 'clarify' long-term investment guidance amid govt infrastructure plans
Professional Pensions: The Pensions Regulator (TPR) will clarify guidance on investments with long-term horizons as part of the government's plans to encourage pension funds to invest more in infrastructure, according to Autumn Budget documents. Read story
Lifetime allowance increase confirmed
Professional Pensions: Budget papers have confirmed the lifetime allowance (LTA) for pensions will increase to £1,030,000 for the tax year 2018/19. Read story
Staff will not incur benefit-in-kind tax for charging electric vehicles at work
Employee Benefits: Employees that charge their electric vehicles at work will not incur a benefit-in-kind charge on the electricity used. Read story
Diesel supplement in company car tax to increase by 1%
Employee Benefits: The government has announced that the existing company car tax diesel supplement will increase from 3% to 4% in April 2018. Read story
Income tax exemption for Armed Forces accommodation allowances announced
Employee Benefits: The government has announced the introduction of an income tax and national insurance contribution (NIC) exemption for accommodation allowances for Armed Forces personnel. Read story
Employers tax relief for life assurance and overseas pensions to be modernised
Employee Benefits: The government has announced that tax relief for employer premiums paid into life assurance schemes or certain overseas pension schemes will be modernised. Read story
National living wage to increase to £7.83 an hour from April 2018
Employee Benefits: The national living wage will increase to £7.83 an hour from April 2018, Chancellor Philip Hammond has announced. Read story
Maximising employee retention with a Car Benefit Scheme
Reward: Ashford and St Peter’s Hospitals NHS Foundation Trust are celebrating the delivery of their first cars after implementing a new Car Benefit Scheme from market leaders, Tusker. Read story
Budget 2017 – The Industry Reacts
Reward: Chancellor Philip Hammond has delivered the Autumn Budget, announcing changes in Stamp duty, housing, personal taxation and wages but what does it mean for SME’s and employee benefits? Read story
No further IPT rises this year
Cover Magazine: There will be no further increases to Insurance Premium Tax (IPT) this year, the Autumn Budget 2017 has revealed. Read story
75% are not planning to introduce a Lisa
Employee Benefits: Three-quarters of respondents (75%) are not planning to introduce the Lifetime individual savings account (Lisa) as a workplace savings tool, according to research by Employee Benefits and Nest. Read story
European Commission launches two-year plan to tackle gender pay gap
Employee Benefits: The European Commission has published a report detailing its proposed plan to tackle the gender pay gap in Europe. Read story
Quiet Budget for pensions gets mixed industry reaction
Professional Pensions: The pension industry's reaction to the lack of policy in the Autumn Budget has been a mixture of relief and disappointment. Read story
Budget: AE impact and other key pension and investment changes
Corporate Adviser: The number of workers auto-enrolled but not entitled to tax relief in net pay schemes could increase from April 2018, following the Chancellor’s Budget decision to increase the income tax personal allowance increases to £11,850. Read story
Gender Pay Gap Reporting - Benefit or Burden?
Reward: Angela Williams, Group People Director at Which? and Chair at, Curo Compensation clarifies the importance for employers to fully understand the causes for their gender pay gap to help bridge the gap. Read story