At a glance: reward and benefits headlines this week
The headlines you might have missed between 17- 23 June
Hutton: Why we must stick to the Turner agenda
Corporate Adviser: We must stick to the Turner agenda to achieve decent retirement funding – but it is not clear freedom and choice helps says Lord Hutton of Furness, former work and pensions minister and adviser to Redington. Read story
South Yorkshire Housing Association launches employee engagement initiative
Employee Benefits: South Yorkshire Housing Association (SYHA) has launched a year-long events initiative as part of its employee engagement programme, LeadWell Development. Read story
61% cite reputational risk as a key concern around gender pay reporting
Employee Benefits: More than half (61%) of employer respondents cite reputational risk as one of their top three concerns around gender pay reporting, according to research by Mercer. Read story
84% of female healthcare respondents have never asked for a pay rise
Employee Benefits: More than three-quarters (84%) of female respondents who work in the healthcare sector have never asked for a pay rise compared to 71% of male respondents, according to research by Randstad Care. Read story
The Lifetime Savings ISA: What HR directors need to know
HR Magazine: The Lifetime ISA could soon be playing a big role in your benefits strategy. Here's what you need to know. Read story
Global maternity policies can boost retention of women workers
People Management: Employers should consider setting minimum standards despite differences in national laws. Read story
Pru exits annuity open market
Corporate Adviser: Prudential has pulled out of the open market for annuities, and will only sell products to existing customers or those going through its direct channel in future. Read story
TPR names first GPP on its open to all list
Corporate Adviser: Aviva’s Company Pension has been named as the first group personal pension to meet The Pensions Regulator’s (TPR) criteria to be included on a list of GPPs open to any employers. Read story
Employers ‘deliberately not communicating group risk’ – Grid
Corporate Adviser: Employers are deliberately not communicating group risk benefits to ensure they are not abused, with less than a third detailing group risk benefits in their employee benefit statements, research from Group Risk Development (Grid) has found. Read story
MPS mines for income with alternative credit and shipping
Pensions Expert: The Mineworkers Pension Scheme is hunting for income with new allocations to shipping and special situations debt, alongside increased exposure to private debt and property. Read story
Landmark SPPA ruling sets gender equality precedent
Pensions Expert: The Scottish Public Pensions Agency has ordered North Lanarkshire Council to treat back pay settlements issued to female employees following years of salary discrimination as pensionable. Read story
Organisations confuse wellbeing with wellness
HR Magazine: Wellbeing at work focuses on mental as well as physical health of employees. Read story
54% offer flexible-working initiatives
Employee Benefits: More than half (54%) of respondents offer flexible-working initiatives, according to the Employee Benefits/Xerox HR Services Benefits research 2016, published in June 2016. Read story
Capita sees 200% increase in engagement with health and wellbeing campaign
Employee Benefits: Capita achieved a 200% increase in employee engagement with its health and wellbeing campaign following a four-week engagement initiative. Read story
Burden of DB ‘throttling’ investment in younger generation’s retirement
Professional Pensions: Young workers’ pension funds are being sacrificed so private companies can afford to pay “over-generous” pensions for older members, according to the Intergenerational Foundation (IF). Read story
Where does responsibility lie for BHS scheme woes?
Professional Pensions: Sir Philip Green’s appearance in front of the Work and Pensions Select Committee raised interesting questions around sponsor responsibilities to scheme members says Helen Morrissey. Read story
Hymans: Schemes’ £120bn cost of Brexit uncertainty
Corporate Adviser: UK pension scheme deficits grew £120bn in the six weeks up to the EU referendum, but have fallen back by £30bn as markets have rallied, says Hymans Robertson. Read story
O’Neill: Markets pricing in remain and pound could reach $1.56
Corporate Adviser: Markets are pricing in a remain in this week’s EU membership referendum and the pound could reach $1.56 before the end of the year says UBS Wealth Management head of UK investment office Bill O’Neill. Read story
Victrex uses segmentation to assist financial education
Employee Benefits: Global high-performance polymer manufacturer Victrex employs around 600 people in the UK in roles ranging from manufacturing to management. When Sally Knill joined as head of reward in 2013, it soon became apparent that a financial education programme was needed. Read story
Chris O’Sullivan: Understand the risks facing staff to get the support mix right
Employee Benefits: When we invest in our mental health, or the mental health of the staff that work in our organisations, we invest in those individuals, their families, and in the productivity of the workplace, whatever its mission. Read story
Ernst & Young overhauls DC scheme to fit the new freedoms
Pensions Expert: Professional services firm Ernst & Young has adapted the lifestyle and freestyle strategies of its defined contribution plan to suit the pension freedoms and increase risk in the lifestyle strategy, a move designed to provide for growth. Read story
One in five wellness schemes will never include financial advice
HR Magazine: Almost half (49%) of firms offer financial advice and education, but 18% have no plans to ever offer this. Read story
Google and John Lewis named best employers for talent attraction and retention
Employee Benefits: Apple, Facebook, Google, John Lewis and Virgin Media are among the top organisations for attracting and retaining talent, according to research by LinkedIn. Read story
37% do not trust employers not to use wearable technology data against them
Employee Benefits: More than a third (37%) of respondents do not trust their employer not to use the data from wearable technology against them in some way, according to research by PricewaterhouseCoopers (PWC). Read story
61% do not have any form of income protection
Employee Benefits: Almost two-thirds (61%) of respondents do not have any form of income protection to replace lost income if they develop a serious injury or illness, according to research by Canada Life Group Insurance. Read story
Employers ‘not prepared’ for gender pay reporting
People Management: ‘Nasty surprises’ ahead as EU referendum and scepticism blamed for low levels of analysis. Read story
How could Brexit affect UK pensions?
Professional Pensions: With the referendum on Britain’s membership of the EU, what should pension scheme managers and trustees expect in the event of Brexit? James Phillips reports. Read story
100,000 to be told ‘no state pension’
Corporate Adviser: The Government is to write to 100,000 people within 9 years of state pension age it believes will not build up sufficient years to qualify for the new state pension. Read story
EBCs back diversity initiative
Corporate Adviser: EBCs and investment and savings industry institutions are coming together to launch a project aimed at solving poor levels of industry diversity. Read story
Workers massively overestimating state disability cover
Corporate Adviser: UK employees are massively over-estimating the amount provided by the Government should they fall ill or become disabled and unable to work, with the average worker expecting 70% more than the state provides. Read story
Vanarama gives staff paid leave to cast EU referendum vote
Employee Benefits: Vanarama will give its employees one hour of paid time on voting day to ensure that they have the opportunity to vote in the EU referendum. Read story
Hong Kong is most expensive city for expatriates
Employee Benefits: Hong Kong is the most expensive city to live in for expatriates, according to research by Mercer. Read story
57% of retail staff feel financial pressures impact their performance at work
Employee Benefits: Over half (57%) of employee respondents in the retail sector admit that financial pressures affect their ability to perform their job successfully, according to research by Neyber. Read story
Employee engagement in a negative culture: how to break down barriers
Personnel Today: Tapping into the workforce’s creativity and innovation is one way to engage employees at organisations where it is “trendy to be negative”, according to the Metropolitan Police’s Glenn Tunstall, chief superintendent and borough commander of Kingston. Read story
PPF: British Steel rescue plans involve significant risks
Professional Pensions: Some of the government’s proposals to change benefits at the British Steel Pension Scheme (BSPS) involve “significant risks for relatively limited gains” according to the Pensions Protection Fund (PPF). Read story
Secondary annuity market could pave the way for DB flexibilities
Professional Pensions: Introducing greater flexibilities for defined benefit (DB) members should be a serious legislative consideration for the government according to Broadstone technical director David Brooks. Read story
ACA: DWP playing politics with British Steel
Corporate Adviser: The DWP’s consultation looking at reducing member benefits in the British Steel Pension Scheme is driven primarily by politics rather than pensions says the Association of Consulting Actuaries. Read story
Editor’s view: What the EU campaign taught the benefits sector
Corporate Adviser: It is worth reflecting on what we have learnt over the course of the EU referendum campaign, and what it means for our sector. Read story
Reconfiguring DC: The pensions dashboard
Pensions Expert: The pensions dashboard could be the upgrade the industry needs to take it into the digital age, but it is at risk of being just another expensive neglected technology project. Read story
How communication can drive benefits take-up
Employee Benefits: Driving take-up of any employee benefits package is a perennial challenge for employers; after all, it is no good having a comprehensive scheme if people do not know about it, or understand the value they could potentially get. Read story
Asda equal pay claim proceeds to employment tribunal
Employee Benefits: An equal pay claim brought against retailer Asda is to proceed to the Employment Tribunal following a Court of Appeal decision published yesterday (22 June 2016). Read story
Hightown Housing Association opens on-site gym for staff
Employee Benefits: Hightown Housing Association has opened an on-site staff gym at its headquarters in Hemel Hempstead. Read story
US law firm enhances paid parental leave policy
Employee Benefits: US law firm Robins Kaplan has extended its paid parental leave policy to 10 weeks with immediate effect. Read story
What will happen to schemes' investments after Brexit or Remain?
Professional Pensions: As the UK goes to the polls to decide the country’s future EU membership, PP looks at what pension funds should expect under either scenario. Read story
Angela Rayner: Savers deserve nothing less than full cost transparency
Professional Pensions: The shadow pensions minister has called for cross-party action to improve transparency on costs in pensions and regain the trust of members. Read story
Brexit uncertainty leads to rise in pension scams
Professional Pensions: Scammers are using Brexit concerns to try to con people into transferring their pension savings to suspicious overseas schemes, according to Phoenix Group. Read story
BT to pilot advice service for DB members
Professional Pensions: BT will soon roll out a trial advice offering for its active defined benefit (DB) members to help them make more informed choices. Read story
Union urges M&S to consult on pension and pay changes
People Management: Retailer set to cut Sunday pay and transfer staff to DC scheme in move ‘driven by NLW’. Read story