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 5-11 June 2015.Scheme members left waiting on Friends access failureCorporate Adviser: Friends Life has apologised to 1,300 customers who have not been able to flexibly access their pension because its systems have not been updated to allow partial withdrawals. Read storyMarks & Spencer boss Marc Bolland gets £596,000 bonusThe Telegraph: He was also awarded shares worth £2.4m, taking his total remuneration to £4.5m. Read storyScottish Government accredited as Living Wage employerCIPP: Enhanced productivity, reduced absenteeism and better staff morale are just some of the benefits highlighted from new independent research of the Living Wage. Read storyFour in ten staff believe their job damages their healthWorkplace Savings & Benefits: 41% feel their job is detrimental to their health with 44% saying they receive inadequate support from their employer in leading a healthy lifestyle. Read storyLloyds slashes bonuses after £117m PPI fineWorkplace Savings & Benefits: Lloyds Banking Group is cutting its bonus pool by £30m and withholding £2.65m in share awards from its senior executives. Read storyA third of UK workers without sick pay - LV=Cover: Of the 11m, 8m are employed by a company but would only receive statutory sick pay if they fell ill, £88.45 per week, over £300 less than the average UK weekly pay of £409. Read storyTPR to probe DC scheme managers on charge cap compliance Workplace Savings & Benefits: The Pensions Regulator is set to assess whether or not managers and trustees of defined contribution (pension schemes have applied the 0.75% charge cap which came into effect in April. Read storyEvidera achieves cost-neutral flexible benefits schemeEmployee Benefits: Evidera has achieved a cost-neutral flexible benefits scheme in the first 10 months of launch after £100,000 worth of investment. Read storyWages in London grow faster than in the rest of the countryCity AM: A Recruitment & Employment Confederation and KPMG survey found that wages for permanent employees in London increased for the twenty-fourth successive month in May. Read storyCeridian launches reward and recognition platformEmployee Benefits: Payroll and HR software provider Ceridian, has launched an employee reward and recognition platform. Read storyEmployee engagement reaches three-year highEmployee Benefits: The engagement figures in the CIPD’s Employee outlook 2015 survey, which had 2,226 employee respondents, showed a significant improvement from 2014 (38%) and 2013 (35%). Read storyAuto-enrolled low earners denied tax relief Corporate Adviser: Low earners just above the earnings trigger saving in trust-based arrangements are missing out on tax relief because their schemes operate on a net pay basis, it has emerged. Read storyDC schemes asked to confirm compliance with charge controlsCorporate Adviser: Trustees and managers of occupational defined contribution pension schemes will be asked to confirm whether or not they comply with new charge controls in their scheme return to The Pensions Regulator. Read storyTate & Lyle sweetens deficit pill with secured funding movePensions Expert: Sugar company Tate & Lyle reduced its defined benefit liability by £52m in 2014, helped by the creation of a secured funding account as a contingency to its core employer contributions. Read storyPensions regulator urged to boost transparency on auto-enrol finesMoney Marketing: The Pensions Regulator is being urged to publish the details of the fines it imposes on firms which do not comply with auto-enrolment rules. Read storyMost GPs and employers unaware of Fit for WorkCorporate Adviser: Research carried out amongst more than 1,000 GPs on behalf of Cigna found 61 per cent are not aware of the service, and of those who are, over a third have not yet made their minds up about whether they will use. Read storyFCA confirms pension transfer qualifications overhaulMoney Marketing: The FCA has published its final rules on pension transfers, which takes effect from today, including a climbdown on occupational transfers without safeguards. Read storyVirgin Management offers a year's parental leave on full payEmployee Benefits: Virgin Management has introduced a year’s full pay for employees taking maternity, paternity or adoption leave once staff have accrued four years’ service with the organisation. Read storyClyde and Co, Deutsche Bank and Npower promote National Carers' WeekEmployee Benefits: Clyde and Co, Deutsche Bank, Mercer, Npower and Suffolk County Council are among a number of employers that are promoting the benefits that they offer to support working carers during National Carers’ Week. Read story35% who have used pension freedoms are still workingEmployee Benefits: Around a third (35%) of workers who accessed the pension freedoms in the first month after they came into effect in April 2015 were still working at the time, according to research by Hargreaves Lansdown. Read storySantander communicates through defined benefit pension changesEmployee Benefits: Santander used effective communications and managed trade union engagement to win employee buy-in for its extensive pension scheme change. Read storyOnly 6% of jobs advertised in the UK mention flexible workingHR magazine: Only 6.2% of jobs advertised in the UK mention flexible working options, according to a national study by flexibility experts Timewise. Read storyEmployers need to reach out to the “invisible carers” Pay & Benefits: Employers risk losing their best talent if they do not support the “invisible carers” in their workplace, according to My Family Care. Read storyA third of employees feel work–life balance is unsupportedPay & Benefits: Nearly 40 per cent of employees feel that they do not have a good work–life balance, according to research by Barnett Waddingham. Read storyWork perks most valued by millennialsPay & Benefits: Workers from the millennial generation value work perks more than employees from generation X and baby boomers, according to a study by Robert Walters. Read storyUK employees among the unhappiest in EuropePay & Benefits: Employees are not as happy or motivated in the UK as they are in many other European countries, according to research for pre-pay business Edenred. Read storyMost employees unaware of pension freedomsPay & Benefits: More than three employees in five are either oblivious to the new pension freedoms or have little understanding of how they are affected by them, according to a survey by Towers Watson. Read storyPepsi rolls out CBT potentially saving £200k a yearWorkplace Savings & Benefits: Pepsi is rolling out a mental health service that cuts absence and could potentially save the business £200,000 a year. Read storyEverton FC kicks-off employee wellbeing revampWorkplace Savings & Benefits: As part of the process the Premier League team is conducting an independent survey of its staff - the first football club to do so. Read storyMaritime industry pension and life assurance scheme unveiledWorkplace Savings & Benefits: Members will be able to take part in a new industry-wide group life assurance arrangement, which will be operated by Creative Benefits with the underlying policy held with Canada Life. Read story17,000 Tata Steel staff to strike over pensionsWorkplace Savings & Benefits: More than 17,000 Tata Steel employees will strike on 22 June in an ongoing dispute over the organisation’s pension scheme changes. Read storyNAPF appoints Lesley Williams new chairWorkplace Savings & Benefits: She will succeed Ruston Smith, whose two-year tenure will end at the NAPF’s annual general meeting (AGM) in October 2015. Williams will assume her responsibilities after the AGM for a two-year term. Read storyCentralising global benefits held back by operational realitiesEmployee Benefits: Multinational employers are building infrastructures to manage employee benefits globally by centralising benefits decision making, according to research by Aon Global Benefits. Read storyWebb: Salary sacrifice could be cut in July BudgetWorkplace Savings & Benefits: Steve Webb has warned that the Conservative government may target the £15bn salary sacrifice bill in its July emergency Budget. Read storyNI Prison Service uses anonymous eyecare vouchersWorkplace Savings & Benefits: The service, which employs more than 6,000 people, extended the eyecare service to include full eye examinations and options to upgrade from single-vision to bi-focal or varifocal lenses. Read storyEmployers do not have skills to support mental healthWorkplace Savings & Benefits: According to research from Health Assured 83% of bosses do not know how best to support employees with mental health issues. Read storyRecognised Overseas Pension Schemes notifications CIPP: HMRC has published the latest update to the Recognised Overseas Pension Schemes notifications. Read storyChipotle offer part-time employees paid sick leave, vacations and tuition feesHR Grapevine: The American restaurant chain has recently announced that they plan to offer paid sick leave, full holidays and even reimbursement for tuition to both full time and hourly workers, commencing on July 1st. Read storyPay reaches £100,000 for over 400 TFL staff Employee Benefits: The number of employees working for Transport for London (TFL) earning a total remuneration package over £100,000 has reached more than 400 for the first time. Read storyJust 6% of jobs offer flexible workingEmployee Benefits: Only 6% of full-time job roles with a salary of more than £20,000 offer workers the option of flexible working, according to research by flexible hiring specialist Timewise. Read storyNorthern Bank Pension Scheme agrees £680m buy-in with PruProfessional Pensions: The Northern Bank Pension Scheme has entered into a £680m buy-in with Prudential, marking the largest bulk annuity deal agreed so far this year. Read storyDentist multi-employer specialist to auto-enrol with Aon’s Littleblue Professional Pensions: The dental industry’s multi-employer specialist Denplan has selected Aon Employee Benefit’s Littleblue solution for auto-enrolment (AE). Read storyWebb's sal sac warning prompts 12% contribution hike fears Corporate Adviser: The Treasury could use the July Budget to abolish salary sacrifice, a move that would save it £15bn a year, former pensions minister has told an audience of HR professionals. Read storyABI clashes with pensions minister over freedoms accessMoney Marketing: Writing in the Daily Mail, Altmann and economic secretary to the Treasury Harriett Baldwin said: “It is disappointing that some firms are lagging behind, and some providers have chosen to focus their efforts on far too narrow a range of options. Read storyABI bites back at Altmann's 'heel-dragging' attackCorporate Adviser: The ABI has hit back at accusations from pensions minister Ros Altmann that providers have failed to ‘get their act together’ to deliver freedom and choice flexibilities. Read storyAxa includes a range of benefits for staff travelEmployee Benefits: The insurer has a comprehensive company car policy, which offers all its employees the opportunity to have a company car. Read storyMEC UK improves employee wellbeing and motivationEmployee Benefits: Media advertising agency MEC UK has seen its staff health and wellbeing, productivity and motivation all improve in the first year of launching its ‘Smarter Working’ initiative. Read storyCity interview: Red Letter Days saviour Bill Alexander who has come up trumpsDaily Mail: Alexander, 55, clearly enjoys a challenge. The avid poker fan insists he is not a gambler because he plays to win, but he certainly enjoys the buzz of a high-stakes, high-pressure situation. Read storyTibbalds increases employee ownership to 60%Employee Benefits: The consultancy introduced majority employee ownership earlier this month when its employee ownership trust (EOT) bought shares from the organisation’s four founders. Read storyInvestors demand better reporting of staff managementWorkplace Savings & Benefits: The National Association of Pension Funds (NAPF) has called for greater transparency of workforce management practices including pay, benefits and the use of zero hour contracts. Read story Majority lose £19k by shunning state pension deferralWorkplace Savings & Benefits: The vast majority of people do not defer taking their state pension, despite most being financially able to do so, losing out on as much as £19,000 extra retirement cash. Read storyPeople can earn as much as they need on zero hours contract, says Government minister The Independent: Conservative business minister Baroness Neville-Rolfe defended the continuing legality of the contracts during a discussion in parliament. Read storyCity jobs and pay growth boom as more workers look to moveCity AM: The number of City jobs new to the market shot up by 13 per cent year-on-year in May, according to figures released today by recruiters Morgan McKinley. Read storyUsing workspace design to attract and retain talentHR Director: The UK is suffering a skills shortage. Nearly half of SMEs are struggling to recruit the right IT staff, financial services recruiters predict vacancies will rise by 15.7% and at the STEMtech conference in April, the need to recruit more talent in science, technology, engineering and mathematics is top of the agenda. Read story
