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23 Oct 2015
by Rebecca Patton

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.

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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 16-22 October

NAPF rebrands as Pensions and Lifetime Savings Association
Corporate Adviser: The National Association of Pension Funds (NAPF) is rebranding to become the Pensions and Lifetime Savings Association as it expands its role beyond pensions into other types of long-term saving. Read story

Pensions industry should help people engage with pensions
HR Magazine: The pensions industry should be helping people "understand and engage with" their pensions, according to pensions minister Ros Altmann. Read story

How to support your employees' outside ambitions
HR Magazine: Secondsight advisor Sally Read-Cayton is a keen professional athlete. Here's how the firm supported her sporting ambitions, and how you can support your workers with theirs. Read story

Altmann puts defined ambition and automatic transfers on hold
Employee Benefits: Pensions minister Ros Altmann has announced that plans to impement defined ambition pensions, collective benefits and automatic transfers (also known as pot follows member) have been put on hold. Read story

Kingfisher develops pensions app to engage staff
Employee Benefits: Retail group Kingfisher has developed a brand-specific app to engage its 36,000 staff who are members of the Kingfisher pension scheme. Read story

United Utilities urges aligning pensions and recruitment to manage ageing workforce
WSB: United Utilities believes employers need to integrate pensions policy with recruitment and flexible working if they are to manage the ageing workforce effectively. Read story

MPs demand government expands Pension Wise
Money Marketing: The Work and Pensions select committee has called for industry-funded guidance service Pension Wise to be expanded six months after the launch of the retirement freedoms. Read story

DB transfer complaints down since pension freedoms
Money Marketing: The Financial Ombudsman Service has seen a significant fall in defined benefit transfer complaints since the introduction of the pension freedoms. Read story

MPs warn freedom and choice puts savers in danger
Professional Pensions: Reporting on relaxation of retirement regulations, the Work and Pensions Select Committee said a lack of regulatory clarity was "endangering pension savers" and branded the Pension Wise guidance service "not fit for purpose”. Read story

Greater Manchester warns public markets are getting ‘horribly risky’
Professional Pensions: Public equity markets are becoming much riskier than private equity with flash crashes and higher volatility, according to Greater Manchester Pension Fund (GMPF) investment manager Neil Cooper. Read story

Environment Agency Pension Fund unveils ground-breaking goals to tackle climate risks
Professional Pensions: The Environment Agency Pension Fund (EAPF) has become the first scheme to commit its investments to the international target to limit global warming to two degrees. Read story

BAE launches first expat share plan
WSB: BAE has launched its first international employee share purchase plan available for non-UK taxpayers. Read story

Diageo warns members about pension freedom scams
WSB: Drinks manufacturer Diageo has explained how it took action to protect members from pension scammers. Read story

Employees ignore saving amid personal financial concerns
WSB: Two thirds (63%) of employees have made no financial provision for their future despite 81% of employees grappling with everyday financial challenges. Read story

Rygor launches voluntary benefits scheme
Employee Benefits: Commercial vehicle dealer group Rygor has launched a voluntary benefits scheme to reward its 354 employees. Read story

70% return to work early with workplace stress
Employee Benefits: Nearly three-quarters (70%) of respondents return to work early when suffering with workplace stress, according to research by LV=. Read story

Helen Giles: Motivating employees is about more than money
HR Magazine: The key to true motivation is not financial, but it can be much harder to achieve. Read story

How can the fleet industry help employers to control fleet costs?
Employee Benefits: When an employer is considering launching, reintroducing or altering a company car scheme, there are a number of factors it should take into account to ensure that it opts for the package that is best suited to its needs and those of its staff. Read story

How can company car schemes meet the needs of a varied workforce?
Employee Benefits: Company car schemes are an appealing facet of an organisation’s benefits programme, which can help an employer position itself – to prospective and current employees – as an attractive place to work. Read story

What are some of the key issues impacting the fleet landscape?
Employee Benefits: The fleet industry has developed in order to traverse a landscape shaped by factors such as government policy, the economic and corporate climate, environmental approaches and technological innovation, while retaining its focus on meeting the needs of employers and their staff. Read story

Technology is key to grandparental leave
Pay and Benefits: HR and payroll teams have been warned to ensure they have the right technology in place to cope with government plans to extend Shared Parental Leave to grandparents. Read story

Savings gap risks financial time bomb
Pay and Benefits: The country is facing a long-term savings gap which could become a “financial time bomb”, according to Equiniti. Read story

PWC launches return-to-work programme
Employee Benefits: PricewaterhouseCoopers (PWC) has launched a return-to-work programme to encourage talent back into the workplace. Read story

87% adapt pension schemes to suit millennials
Employee Benefits: Almost four in five (87%) respondents have adapted their workplace pension scheme to suit the needs of millennial workers (aged 16-35), according to research by Aegon UK. Read story

Law firm quizzes company over treatment of cleaners who asked minister for pay rise
CIPD: A law firm is investigating the potential detrimental treatment of staff at a cleaning contractor working for the government after some of its employees left a letter for Secretary of State Philip Hammond asking for higher pay. Read story

Bibby adds subsidised cancer screening amid trio of flexible benefits
WSB: Bibby Financial Services is introducing a trio of new benefits to its annual selection window following requests from employees. Read story

TPR launches interactive website to help employers auto-enrol
WSB: The Pensions Regulator (TPR) has launched a website to help small employers through the auto-enrolment process. Read story

More firms leaving it to the last minute to auto-enrol
WSB: An increasing number of firms are leaving it to the very last minute to comply with their auto-enrolment obligations, according to one major provider. Read story

PPF: New system leads to fewer appeals
Pensions Expert: The levy has been a big focus for us at the Pension Protection Fund this autumn as we continue to implement the changes for the second levy triennium – and start to look ahead to future years. Read story

Meet 'Workie', the new face of workplace pensions
Corporate Adviser: ‘Workie’, an animated character in the DWP’s £8m TV advertising campaign to promote auto-enrolment, will appear for the first time on TV tonight. Read story

More than a third of working Britons hold multiple jobs
HR Magazine: More than a third (37%) of Britons now have two or more jobs, according to a survey from VoucherCodesPro.co.uk.  Read story

Focus on higher contributions, not charges says BT pension boss
Professional Pensions: Schemes should focus on increasing contributions rather than squeezing costs if they want to improve member outcomes, according to BT’s head of pensions. Read story

Scrap state pension triple lock, urges IFS
Professional Pensions: The government has been urged to axe the state pension triple lock in light of data showing pensioners have higher average income than working age people for the first time. Read story

Natixis launches wellness week
Employee Benefits: Natixis London Branch launched a wellness week on 12-16 October, to engage its 380 employees with their physical and mental health. Read story

Northumberland County Council introduces living wage
Employee Benefits: Northumberland County Council has introduced the Living Wage Foundation’s living wage rate of £7.85 an hour. Read story

Money worries stop 25% from taking sick leave
Employee Benefits: A quarter (25%) of respondents go into work when unwell because of money worries, according to research by National Accident Helpline. Read story

How employers can tackle the IPT rise on healthcare benefits
WSB: The IPT rise means healthcare benefits are likely to become an increasingly expensive commodity for businesses. Kristian Brunt-Seymour considers the options are available to reduce their burden. Read story

Call for £1k pensions advice tax exemption for employers
WSB: The government should extend a tax exemption for employers who arrange financial advice for employees to address the "inconvenient truth" about attempts to broaden access to advice. Read story

What are the latest trends in occupational health?
Employee Benefits: Employers are looking for more from their occupational health partners, whether these are onsite or work remotely, because they need to do more than simply assess whether an employee is fit for work. Read story

Yorkshire Water uses occupational health to create a healthy workforce culture
Employee Benefits: Yorkshire Water gave its occupational health provision an overhaul to ensure that it helps to support a healthy workforce culture for its 3,000 employees. Read story

Cafcass integrates occupational health into wider wellbeing strategy
Employee Benefits: Family support service Cafcass has integrated its occupational health provision within its wider health and wellbeing strategy. Read story

FCA more effective than TPR at regulating for-profit providers - PPI
Corporate Adviser: Profit-motivated pension providers would be more effectively regulated by the Financial Conduct Authority than the Pensions Regulator, which does not have the same powers to address conflicts of interest, competition and market integrity, a new Pensions Policy Institute report claims. Read story

Ideal Carehomes increases staff pay
Employee Benefits: Ideal Carehomes, part of the LNT Group, has increased pay for staff ahead of the implementation of the national living wage, which is due to come into effect in April 2016. Read story

45% unaware of absence support
Employee Benefits: Nearly half (45%) of respondents are not aware or do not know whether any sickness absence support is available from their employer, according to research by Canada Life Group Insurance. Read story

Just 2% report significant shared parental leave take up
Employee Benefits: Just 2% of respondents have experienced significant take up of shared parental leave (SPL), according to research by My Family Care and law firm Hogan Lovells. Read story

Why tomorrow's savers will transform pensions
Reward Guide: Why millennials are prioritising social good - and what it means for the pensions industry. Louise Farrand reports. Read story

DWP slammed for spending £8.5m on AE ‘gimmick’
WSB: The Department for Work and Pensions (DWP) has been criticised for spending more than £8.5m on its campaign to promote awareness of auto-enrolment (AE). Read story

Ombudsman orders employer to pay £500 for missed contributions
Professional Pensions: The Pensions Ombudsman (PO) has ordered a company to pay £500 to a member of its pension scheme who suffered “considerable distress” because of missed contributions. Read story

TPR’s hands off approach on master trusts is worrying says PPI
Professional Pensions: The Pension’s Regulator (TPR)’s lack of power to discipline master trusts could lead to bad outcomes for members according to the Pensions Policy Institute (PPI). Read story

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