At a glance: reward and benefits headlines this week
The headlines you might have missed between 30 September - 6 October 2016
Half of employees feel depressed at work
Health Insurance Daily: Work worries keep two thirds of workers awake at night. Read story
Code of practice launched to help employers safeguard their travellers
Health Insurance Daily: A code of practice has been launched advising organisations on how to address and manage the health, safety and security risks posed to their employees who are travelling for work. Read story
Most employees not satisfied with benefits schemes
HR Magazine: Workplace benefits schemes might not be providing what employees want, as many are unsatisfied with the offerings. Read story
ABI criticises ‘raid on the responsible' as IPT rises to 10%
Cover Magazine: The second of insurance premium tax (IPT) increases in less than a year officially comes into effect from the 1st October 2016 affecting over 50m insurance policies. Read story
CIPD and Engage for Success collaborate to progress engagement agenda
Employee Benefits: The Chartered Institute of Personnel and Development (CIPD) and Engage for Success are to collaborate with the aim of progressing the employee engagement agenda. Read story
Defined benefit pension deficit falls to £690bn
Employee Benefits: The deficit for UK defined benefit (DB) pension funds fell by £20 billion in September 2016, according to research by PricewaterhouseCoopers (PWC). Read story
Minimum wage increases by 25p on 1 October
People Management: Rise is the highest ever in real terms, but experts are divided on its impact; TUC calls for end to separate pay rates for under-25s. Read story
Airline discriminated against breastfeeding mothers, tribunal rules
People Management: EasyJet was wrong to refuse requests for new working arrangements on safety grounds; ruling may lead to challenges in other industries, says lawyer. Read story
Punter Southall Aspire launches employee engagement service
Corporate Adviser: Punter Southall Aspire has teamed up with software solution Engagement Multiplier to deliver an employee engagement service to employer clients. Read story
Today’s 30-year-olds more likely to save in pensions than previous decade
Professional Pensions: People born in the 1980s are now more likely to be members of a pension scheme than those born a decade earlier, according to the Institute for Fiscal Studies (IFS). Read story
Employers urged to implement clear policy on breast cancer
Health Insurance Daily: Employers are being urged to implement a clear policy on breast cancer so that employees, line managers and the HR department know what support is available. Read story
Chancellor set to change treatment of salary sacrifice benefits
Health Insurance Daily: Employers need to communicate carefully the potential for changes to salary sacrifice legislation for all benefit annual enrolments that take place between now and December, Aon Employee Benefits has warned. Read story
DWP mulls dropping transfer advice requirement for expats
Professional Pensions: Plans to scrap mandatory advice for expats wanting to transfer their retirement pots overseas could open the door to scammers, it has been warned. Read story
FTSE 350 pension deficit growth rate slows in September
Professional Pensions: FTSE 350 scheme deficits rose by a modest £3bn over September after months of significant growth, which saw them almost triple since February. Read story
Government orders review of employment practices in changing world of work
Employee Benefits: Prime minister Theresa May has ordered an independent review into the impact of new work models on employment practices, such as pay and pensions. Read story
38% believe low morale causes workplace stress
Employee Benefits: More than a third (38%) of respondents believe that low morale in the workplace is a cause of stress at work, according to research by CV Library. Read story
CEO pays employees to go on holiday
Reward Guide: The CEO of SteelHouse gives staff $2000 each year to use on their annual leave. Read story
Tribunal victory for father denied full pay during shared parental leave
People Management: A male employee has been awarded almost £30,000 for sex discrimination after his employer offered him only statutory pay during shared parental leave – while mothers were given full pay. Read story
TPR intervenes after DB scheme was mistakenly converted to DC
Professional Pensions: The Pensions Regulator (TPR) has intervened to help members of a defined benefit (DB) scheme after it was accidentally converted into a defined contribution (DC) plan. Read story
CISI conference: Steve Webb calls for UK 'Save More Tomorrow’ scheme
Professional Pensions: Addressing the Chartered Institute for Securities & Investment (CISI) Financial Planning Annual Conference, Royal London director of policy Steve Webb called for a ‘Save More Tomorrow’ scheme to be put in place and legislated for in the UK. Read story
Minister: Let people use pensions to buy houses
Professional Pensions: Savers should be able to use their nest eggs to buy a home, according to pensions minister Richard Harrington. Read story
Deloitte and Ministry of Justice among Top Employers for Working Families
Employee Benefits: American Express, Deloitte, Ministry of Justice, and Southdown Housing Association are among the Top 10 Employers for Working Families, according to work-life balance charity Working Families. Read story
63% feel obliged to put organisational interests ahead of staff wellbeing
Employee Benefits: Almost two-thirds (63%) of manager respondents feel that they are required to put the interests of the organisation above the wellbeing of their team, according to research by Business in the Community (BITC). Read story
Reed Business Information offers staff personalised health and wellbeing programmes
Employee Benefits: Reed Business Information (RBI) created a health and wellbeing programme in 2014 to help employees to create their own support systems that enable them to enjoy a positive workplace experience. Read story
BT to consolidate benefits in global online platform
Employee Benefits: BT is to bring all of its employee benefits together in one place with the launch of a new online benefits portal. Read story
Law firm Gateley launches employee sharesave scheme
Employee Benefits: The sharesave scheme forms part of the organisation’s growth strategy following its flotation on the Alternative Investment Market (AIM) of the London Stock Exchange in 2015. Read story
21% are concerned about the performance of their workplace pension scheme
Employee Benefits: More than a fifth (21%) of respondents are concerned about how their workplace pension scheme has performed over the past two years, according to research by employee benefits organisation Portus Consulting. Read story
AJ Bell: Govt should tread carefully on boosting Nest remit
Money Marketing: The rise of Jeremy Corbyn to the helm of the Labour party has reopened the great divide in British politics most thought Tony Blair and David Cameron had consigned to the past. Read story
FCA fines Aviva £8.2m for ‘serious’ failures to protect client assets
Professional Pensions: Aviva Pension Trustees UK and Aviva Wrap UK have been fined £8,246,800 for failing to have adequate controls and oversight of its outsourced providers. Read story
Unpacking the proposed DB bill
Pensions Expert: Aries Insight's Ian Neale gives us a primer on the defined benefit bill proposed by Frank Field MP, which promises to set a path for how the contentious issues will be tackled. Read story
Steve Webb: Conditional indexation won’t happen
Professional Pensions: The government will not allow conditional indexation even if it is recommended by the Work and Pensions Committee’s (WPC) inquiry, Steve Webb has claimed. Read story
Tesco pension deficit jumps 123% to £5.9bn
Professional Pensions: The deficit of Tesco’s defined benefit (DB) scheme has more than doubled to £5.9bn in just seven months, overshadowing the supermarket’s sales growth. Read story
TPR urged to investigate AA pension deficit
Professional Pensions: The GMB union has called on The Pensions Regulator (TPR) to investigate AA which has seen its pension deficit more than double in just seven months. Read story
ICI completes two buy-ins worth nearly £1bn
Professional Pensions: The ICI Pension Fund has revealed it completed another two buy-ins worth almost £1bn in September with two major insurers. Read story
You only live once
Reward Guide: Group life cover should be the one of the most highly valued employee benefits. Helen Swire asks why so few people understand its advantages. Read story
Central government to launch online benefits platform
Employee Benefits: The UK central government is to launch a benefits platform to provide 418,000 civil servants with online access to their employee benefits package. Read story
65% would take a pay cut for a better work-life balance
Employee Benefits: Almost two-thirds (65%) of UK employee respondents would take a pay cut in exchange for a better work-life balance, according to research by LinkedIn. Read story
Hot topic: Paying bonuses
HR Magazine: Some firms have stopped paying their staff bonuses. Do bonuses encourage short-term thinking? Read story
Misys places focus on employee engagement and wellbeing
Employee Benefits: Having been through a number of acquisitions and a benefits harmonisation project in recent years, financial services software provider Misys is now primarily focused on the health, wellbeing and engagement of its employees. Read story
FCA lights the way on transparency
Pensions Expert: ‘A big flashing neon light’ marking the direction of travel on transparency has been lit by the Financial Conduct Authority with its proposal to make asset managers disclose transaction costs to defined contribution schemes. Read story
High earners most likely to benefit from flexible working, says report
People Management: Charity calls for more flexible roles to be advertised, as OECD says UK is the worst place for a young mother to seek work. Read story