At a glance: reward and benefits headlines this week


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 10 July - 17 July 2015.

Salary Survey 2015 Report

Econsultancy: Econsultancy collaborated with sister brands Marketing Week, Design Week and Creative Review to survey nearly 10,000 people across the marketing, digital, design and advertising industries. Read story

Why the industry fears 'ISA pensions

Professional Pensions: The government has opened a wide-reaching consultation on reforming pensions tax relief. Natasha Browne hears the industry’s response. Read story

EAT invokes 18 month limit on holiday pay carry-over

Workplace savings and benefits: Employees may only carry forward unused holiday as a result of sickness absence for a maximum of 18 months, the employment appeal tribunal (EAT) has ruled. Read story

Minority of employers provide health and wellbeing support

Workplace savings and benefits: The prospect of having debilitating health conditions like arthritis, joint pain and back pain is as much a worry to employees as stroke, cancer and heart disease. Read story

Revealed: FOS complaints mount over pension freedoms

Money Marketing: Frustrations over advice requirements and provider delays are dominating calls to the Financial Ombudsman Service in the opening months of the pension reforms, Money Marketing can reveal. Read story

Top motivation for men revealed - and it's not money

HR Grapevine: Scientists have uncovered the secret to motivating the male workforce, according to research carried out by Leicester University. Read story

Sainsbury's face equal pay battle with female workers

HR Grapevine: Sainsbury’s is facing legal action over claims that female shop floor workers earn less than their male counterparts. Read story

Jelf urges employers to ‘act now' following IPT increase

Cover Magazine: Jelf Employee Benefits is urging employers to consider four key steps following the Summer Budget announcement that insurance premium tax (IPT) will increase affecting private medical insurance. Read story

AXA scheme uses group company to insure £2.8bn of longevity risk

Professional Pensions: The trustees of the AXA UK Group Pension Scheme have agreed a £2.8bn longevity swap with Reinsurance Group of America (RGA). Read story

National Grid pension scheme hires chief executive

Professional Pensions: Rob Schreur has been appointed chief executive of the National Grid pension scheme. Read story

Older generations most likely to believe life insurance ‘unimportant'

Professional Pensions: Those aged 55-64 are most likely to believe life insurance is unimportant, with one in four thinking so. Read story

High street names tackle mental health stigma

Workplace Savings and Benefits: Fourteen major employers have spoken out about the experiences of actively engaging their workforces with the issue of mental health. Read story

The essential guide to workplace benefits in the Middle East

Workplace Savings and Benefits: The Middle East has been one of the booming expat economies for more than a decade. Owain Thomas explores the laws and expectations for employee benefit packages. Read story

Women urged to demand higher salaries in the digital sector

HR Grapevine: Women must demand better pay in order to fix the gender salary gap in the digital sector, a new study suggests. Read story

Doncaster Council switches voluntary benefits provider

Employee Benefits: Doncaster Metropolitan Borough Council has switched voluntary benefits providers. Read story

Where should group risk sit in a health and wellbeing strategy?

Employee Benefits: Group risk benefits are a key piece of an employer’s health and wellbeing package. But how should they be promoted to staff? Read story

NHBC uses group risk benefits to prepare for the future

Employee Benefits: The National House Building Council (NHBC) aims to take care of its 1,200 staff for the long term through its provision of group risk and healthcare benefits. Read story

Katharine Moxham: Healthcare needs group risk to be effective

Employee Benefits: Benefits in silos are well and truly gone, and group risk is no exception to this. Read story

Companies forced to reveal gender pay gap

HR Magazine: Companies with more than 250 employees will be forced to disclose the gender pay gap in their workplaces from next year. Read story

Worker satisfaction with benefits tied to job satisfaction

Employee Benefits Adviser: Employee satisfaction with benefits is closely linked to their satisfaction with their employer. Read story

Boulding joins Now: Pensions

Corporate Adviser: Now: Pensions has appointed Adrian Boulding as director of policy taking up a newly created role in September on a one day a week basis. Read story

SMEs considering paying more than AE minimum

Corporate Adviser: Small and medium-sized employers are increasingly likely to contribute more than the auto-enrolment minimum according to new research. Read Story

Pension deficits continue to fall from record high

Workplace Savings and Benefits: There has been a persistent fall in defined benefit (DB) pension scheme deficits over the past quarter. Read story

Savers with small pots are struggling to access pension freedoms

Workplace Savings and Benefits: Savers with the smallest defined contribution (DC) pension pots are struggling to access freedom and choice, the National Association of Pension Funds (NAPF) is warning. Read story

Asda appoints pension scheme actuary

Employee Benefits: Asda has appointed Aon Hewitt as actuarial adviser to the Trustees of the Asda Group pension scheme. Read story

Retirement income a priority for half of retirees

Employee Benefits: Almost half (47%) of adults feel that securing a guaranteed retirement income is a priority when covering essential expenses, according to a study from asset management firm Fidelity Worldwide Investment. Read story 

IBM to offer breast milk shipping service to working mothers

HR Grapevine: IBM is to offer a breast milk shipping service for working mothers that are away on business, allowing them to send it home temperature-controlled packaging. Read story

Barclays CEO's £28 million 'golden goodbye’

HR Grapevine: Antony Jenkins, former Barclays CEO who was ousted from the company last week, is in line to receive payments and bonuses totalling up to £28m. According to reports. Read story

NEST doubles members and quadruples assets under management

Professional Pensions: The National Employment Savings Trust (NEST) quadrupled its assets under management over the year to the end of March to £420m, according to its annual report. Read story

ShareAction calls for more member representation and less regulation in pensions

Professional Pensions: Lobby group ShareAction has urged policymakers to stop imposing “heavy-handed” regulation after its research has found the UK pensions sector is “creaking”. Read story

Think tank calls for guaranteed income DC retirement default

Professional Pensions: The government should ensure a decent guaranteed income is the default option for defined contribution (DC) retirees according to the Strategic Society Centre. Read story

Prudential cleared over pension transfer to Capita Oak scheme

Professional Pensions: The Pensions Ombudsman (PO) has rejected a complaint of maladministration against Prudential after it granted a transfer request into a suspicious pension scheme. Read story

CIPD: Employers may use minimum wage rise to stop pay increases

Workplace Savings and Benefits: The Chartered Institute for Personnel and Development (CIPD) is warning that employers may use the 50p top-up to the minimum wage as a reason not to raise salaries. Read story

Only one in five firms ready for gender pay transparency

Workplace Savings and Benefits: Barely a fifth of organisations (19%) collect data on pay variation across their workforce suggesting government demands for gender pay transparency could prove tricky for many employers to implement. Read story

BBC employees paid £54,000 on average last year

Employee Benefits: Staff at the BBC were paid £54,000 on average last year, according to the BBC’s Annual Report and Accounts for 2014/15. Read story

Real wages rise almost 3%

Employee Benefits: Real wages in Great Britain increased by almost 3% year on year, excluding bonuses, when comparing the period March to May 2015 with the same months in 2014. Read story

Aga sale puts underfunded pension scheme on firmer footing

Professional Pensions: The planned £129m sale of Aga announced today will put the firm’s defined benefit pension scheme on firmer financial footing, according to the trustees’ adviser. Read story

Willis Group to buy PMI Health Group in further expansion of UK employee benefits business - UPDATED

Professional Pensions: Willis Group is set to acquire PMI Heath Group in a bid to expand its UK employee benefits and healthcare business. Read story

Industry fears government has made up its mind to axe upfront tax relief

Professional Pensions: Industry figures have warned the green paper on pensions tax relief published last week is “not a genuine consultation” as the government has already decided on the outcome. Read story

Is the “national living wage” worth shouting about?

Personnel Today: The headline announcement in this week’s budget was the introduction of a compulsory national “living wage”. But will the increase to the minimum statutory pay rate really make a difference to employees, and what will be the impact on employers? Read story

Master trusts given premium billing on TPR website

Corporate Adviser: Now: Pensions and The People’s Pension have been placed ahead of Nest on The Pensions Regulator’s ‘how to find a pension scheme’ page for employers. Read story

Oracle revamps financial education programme

Employee Benefits: EXCLUSIVE: Oracle has revamped its financial education programme for its 5,800 UK employees. Read story

27% do not measure health scheme take up

Employee Benefits: Less than a third (27%) of respondents do not measure health programme take-up rates, according to research by insurer Unum. Read story

Treasury minister 'very interested' in workplace ISA

Workplace Savings and Benefits: HM Treasury is "very interested" in the potential of a workplace ISA to replace pensions. Read story

Pension scheme membership soars

Workplace Savings and Benefits: Participation in private sector workplace pension schemes has rocketed since the start of auto-enrolment. Read story

MPs to launch Pension Wise and advice inquiry

Money Marketing: The Work and Pensions committee is to launch an inquiry into Pension Wise and the availability of advice in the wake of pension freedoms. Read story

LPFA and Lancashire start hiring process for ALM partnership

Professional Pensions: London Pensions Fund Authority (LPFA) and Lancashire County Pension Fund are hiring a board to oversee their asset and liability management (ALM) partnership. Read story



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Research: 2015 EMEA Employee Benefits Communication Survey

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