At a glance: reward and benefits headlines this week
The headlines you might have missed between 1-7 April
Now: Pensions eyes Lifetime Isa launch
Money Marketing: Automatic enrolment provider Now: Pensions will “almost definitely” offer a Lifetime Isa to employers in addition to workplace pensions. Read story
Employers urged to ‘go beyond’ national living wage
People Management: New rate need not mean the end of pay rises if productivity is addressed, says CIPD, as evidence emerges of further cuts to benefits and conditions. Read story
Is the national living wage good, bad or just best fit?
People Management: It’s high time that employers took a more ethical approach to pay and reward, says Duncan Brown. Read story
US women footballers file equal pay complaint
Employee Benefits: Five members of the US Women’s National Team have filed a wage discrimination complaint against the United States Soccer Federation. Read story
3,865 EU bank staff received remuneration of €1m or more in 2014
Employee Benefits: The number of employees in EU banks receiving annual remuneration of €1m or more increased to 3,865 in 2014, according to research by the European Banking Authority (EBA). Read story
50% of DB pension scheme members take up employer-paid financial advice
Employee Benefits: Half (50%) of defined benefit (DB) pension scheme members aged 55 and over have opted to speak to a financial adviser if offered this service for free by their employer, according to research by Willis Towers Watson. Read story
The trojan horse paving the way for radical pension tax reform
Money Marketing: Is the Lifetime Isa a blueprint for a wider overhaul of the pensions system that would see tax relief abolished altogether? Read story
Robert Reid: Lifetime Isa could torpedo auto-enrolment
Money Marketing: If the idea is to engage the public, the Government needs to make things simple. It needs to make saving a no-brainer. To deliver a Budget where automatic enrolment is hit by the Lifetime Isa torpedo is so dumb it left me lost for words. Read story
New York to phase in $15 an hour statewide minimum wage
Employee Benefits: The US state of New York is to increase the minimum wage to $15 an hour. Read story
Liverpool John Moores University receives living wage accreditation
Employee Benefits: Liverpool John Moores University (LJMU) has been accredited as a living wage employer by the Living Wage Foundation. Read story
67% plan to expand employee wellbeing programmes
Employee Benefits: More than two-thirds (67%) of US employer respondents plan to expand their employee wellbeing programmes, according to research by Fidelity Investments and US non-profit organisation the National Business Group on Health. Read story
Just Retirement and Partnership complete £15bn merger
Professional Pensions: Just Retirement and Partnership have finalised their merger to become JRP Group which will manage a total of more than £15bn assets. Read story
Cost of public service pensions to rise annually by £3bn
Professional Pensions: Maintaining public sector pensions will cost £3bn more each year with employer contributions expected to rise according to KPMG. Read story
Number of companies missing AE deadline is rising
Professional Pensions: NOW:Pensions has revealed a growing proportion of firms are failing to meet their deadlines for auto-enrolment (AE). Read story
National Living Wage 'not a true living wage’
HR Magazine: Both academics and HR professionals have warned that the NLW is not a 'true living wage’. Read story
Adapting to pension changes
Reward Guide: Jonathan Watts-Lay reveals the findings of Wealth At Work’s survey, which looked at how employers are adapting to pension freedoms. Read story
Mental health-related sick leave soars in civil service
People Management: Stress, anxiety, depression and other mental health conditions are rising at alarming levels in parts of the civil service, new figures suggest – triggering warnings that the situation could get even worse. Read story
Banking industry signs up to voluntary charter on gender pay gap
People Management: Data produced could be more powerful than state reporting regime. Read story
What lessons can reward professionals learn from sport?
Employee Benefits: Transferrable lessons from sports professionals can help shape benefits strategies. Read story
People nearing retirement in the dark over state pension changes
Professional Pensions: People coming up to retirement are still uncertain about how the new state pension will affect them according to research by Which. Read story
Treasury slashes Pension Wise budget
Money Marketing: The Treasury has slashed the Pension Wise budget by more than a quarter, with advisers’ levy for the service set to drop by £2m. Read story
Shared parental leave take-up could be 30%
Personnel Today: Two surveys published to mark the anniversary of the introduction of shared parental leave suggest that its take-up could be around 30%, although more in-depth research is needed. Read story
Royal Mail managers ballot on industrial action over pay
Employee Benefits: Royal Mail managers that are members of trade union Unite are taking part in a ballot to vote on industrial action over pay. Read story
Reward Gateway owner acquires Perkz
Employee Benefits: Reward Gateway’s parent organisation, International Benefits Holding (IBH), has acquired Perkz, an online employee benefits platform for the UK and Ireland. Read story
63% of fathers interested in taking shared parental leave
Employee Benefits: Almost a third (63%) of male employee respondents with young children are interested in taking shared parental leave (SPL) in the future, according to research by My Family Care and the Women’s Business Council. Read story
Spectromax becomes living wage employer
Employee Benefits: IT and software development firm Spectromax, which employs more than 400 staff, has been accredited as a living wage employer by the Living Wage Foundation. Read story
FCA reports decline in people accessing pots since April
Professional Pensions: The number of pension pots accessed to take advantage of the April freedoms fell in the final quarter of 2015 according to the Financial Conduct Authority (FCA). Read story
Petition challenging government over LGPS reforms gets 13,800 signatures
Professional Pensions: More than 10,000 people have signed a parliamentary petition launched by Unison to examine proposed changes to the Local Government Pension Scheme (LGPS) investment regulations. Read story
New pensions policies could undermine auto-enrolment efforts, says former minister
People Management: Warning comes as research suggests millions of younger workers could be £19,000 worse off in retirement. Read story
Pay still a barrier to shared parental leave take-up
People Management: Experts call for greater tracking of employee interest and for financial incentives above the statutory minimum. Read story
Travis Perkins launches car salary sacrifice scheme
Employee Benefits: Travis Perkins has introduced a car salary sacrifice scheme in order to enhance its employee benefits package. Read story
San Francisco legislates for employer-supported parental leave
Employee Benefits: The Board of Supervisors in the US city of San Francisco has passed legislation that will require employers to contribute towards fully paid parental leave. Read story
People cautious over freedoms amid uncertainty around pensions system
Professional Pensions: One year on freedom and choice has had a mixed effect with many savers using their flexibilities while others are still taking a wait and see approach. Read story
Number of part-time male workers set to increase by 20%
HR Magazine: Over the same period, the projected growth in part-time female workers is 7%. Read story
Can new pensions guidance body succeed where the MAS failed?
Money Marketing: The Chancellor revealed a new pension guidance body will be created by merging some elements of the MAS with The Pensions Advisory Service and Pension Wise. Read story
Millennial losers highlighted as single-tier pension launches
Corporate Adviser: Three quarters of people in their twenties are set to lose an average of £19,000 over the course of their retirement. Read story
Younger workers not disclosing mental health problems
Corporate Adviser: Just 35 per cent of UK workers who have suffered from mental health problems have talked to their manager about these issues, driven by fear over job prospects and concern they would receive inadequate support, new research has revealed. Read story
Fallout from contracting-out continues at Bombardier
Pensions Expert: Workers at engineering company Bombardier are considering industrial action over employer plans to pass on the cost of contracting-out cessation to members of two of its defined benefit schemes, while sharing the cost for the Railways Pension Scheme. Read story
DS Smith puts employee health at the heart of its business
Employee Benefits: Corrugated and plastics packaging manufacturer DS Smith believes that investing in its employees is as vital to the business as innovations in equipment. Read story
Govt to cut one-in-three Pension Wise guiders
Money Marketing: The Department for Work and Pensions is to cut just over a third of the total number of guiders working on the Government’s Pension Wise service. Read story
Freedom failure: Has Osborne’s pension revolution lost its way?
Money Marketing: The unresolved issue of insistent clients, providers frustrated by technical problems and a lack of customer data means the Government’s pension revolution has not been covered in glory. Read story
Government could fork out £2bn for British Steel scheme
Professional Pensions: The government may have to inject £2bn into the British Steel Pension Scheme to sell the Tata Steel business, according to the frontrunner to buy the assets. Read story
Webb: early state pension access for women will not solve the problem
Professional Pensions: Allowing certain women to access their state pension early would have little or no benefit or those affected by the rise in age, according to Royal London's Steve Webb. Read story
Government urged to introduce compulsion in pensions
Professional Pensions: People will not save enough unless government forces them to according to PP research. Read story
67% concerned about mental health in the workplace
Employee Benefits: More than two-thirds (67%) of HR professional respondents say mental health is a major issue in their workplace, according to research by MetLife Employee Benefits. Read story
11.5m people covered by group risk schemes in 2015
Employee Benefits: More than 11.5m people were members of group risk schemes at the end of 2015, according to research by Swiss Re. Read story
Advo buys payroll provider
Advo is buying Celerity Payroll Limited, a Newhaven based payroll & BACS Bureau, trading under the name of Payline, for an undisclosed sum. Read story