At a glance: reward and benefits headlines this week
The headlines you might have missed between 2-8 September 2016.
Mothers with young children 30 per cent less likely to be in work than fathers
People Management: TUC urges employers to offer more flexibility as experts say UK economy is ‘paying the price’. Read story
Scrapping bonuses ahead of mandatory gender pay reporting
People Management: What issues should employers bear in mind? Read story
Dividend warning as FTSE 350 deficits soar 135% to ‘dizzying heights’
Professional Pensions: FTSE 350 companies may need to reconsider whether to pay dividends after the total deficit has climbed to £207bn by the end of August. Read story
Conditional indexation would be 'thin end of the wedge’
Professional Pensions: Struggling sponsoring employers of defined benefit (DB) schemes should not be allowed to suspend annual pension increases according to PP research. Read story
M&S confirms DB will close to future accrual
Professional Pensions: Marks and Spencer (M&S) has confirmed it will close its defined benefit (DB) scheme to future accrual in April 2017, following a three month consultation. Read story
Blackhawk Network acquires Grass Roots Group
Employee Benefits: Global prepaid and payments organisation Blackhawk Network has acquired employee engagement provider Grass Roots Group. Read story
EY launches staff guide on gender identity
Employee Benefits: Tax and advisory organisation EY has launched an internal guide for staff on gender identity and gender transition to support its transgender community. Read story
Employees ‘using fake sick notes to skip work’
Health Insurance Daily: Some employees could be using fake sick notes to skip work after an emergence of replica doctor’s letters available to buy online, lawyers have warned. Read story
Stacey Solomon becomes face of Now: Pensions
Corporate Adviser: Now: Pensions has brought in television presenter and reality TV star Stacey Solomon to front its first television and radio advertisements. Read story
Nest sees 10pc annualised 5-year return
Corporate Adviser: Nest has achieved an annualised return in excess of 10 per cent for the growth phase of its default investment fund. Read story
CAF exits multi-employer scheme to set up own fund
Pensions Expert: The Charities Aid Foundation has withdrawn from a multi-employer defined benefit pension plan and established a new DB scheme, removing its exposure to other employers’ pension liabilities. Read story
Scheme rules may block Treasury's advice allowance plans
Pensions Expert: The Treasury has opened a consultation on the introduction of a pensions advice allowance, which would allow members of defined contribution schemes to use up to £500 of their pot to pay for tax-free regulated financial advice. Read story
Phoenix Group opts for second helping of Pie
Pensions Expert: Phoenix Group’s PGL Pension Scheme has completed a pension increase exchange exercise, but despite only wiping £3m off liabilities, the company says the exercise met pre-implementation expectations. Read story
Fund group bonus culture is ‘out of control’
Money Marketing: Bonuses paid to the bosses of the world’s biggest fund groups were 15 times larger than their salaries last year,analysis reveals. Read story
12% leave work before state pension begins
HR Magazine: 436,000 workers within five years of state pension age leave the workplace for medical reasons. Read story
Marks and Spencer enhances pay and pensions deal
Employee Benefits: Retailer Marks and Spencer has enhanced the pay deal offered to staff, including the extension of top up payments and pension cash supplements for affected employees. Read story
49% are concerned about the impact of Brexit on total reward
Employee Benefits: Almost half (49%) of employer respondents are concerned about the impact of Brexit on total reward, according to research by Willis Towers Watson. Read story
59% include financial wellbeing in staff wellbeing strategy
Employee Benefits: More than half (59%) of employer respondents who have a staff wellbeing strategy in place now specifically include financial wellbeing within this, according to research by Close Brothers Asset Management. Read story
Employers prioritising financial wellbeing
Reward Guide: Financial wellbeing is becoming a popular strategy and moving up on employers’ priority lists. Read story
Amazon trials four day week
Reward Guide: The online retailer Amazon is conducting an experiment to analyse the benefits and drawbacks of a 30 hour week. Read story
World’s largest 300 pension funds feel the pinch
Professional Pensions: Assets of the biggest 300 pension funds globally dropped by over 3% in 2015, the first fall in value since the financial crisis according to research. Read story
We need to make a stand on executive pay
Professional Pensions: Janice Turner says the debate on executive pay is now becoming mainstream. Read story
Half a million employees forced to quit early because of sickness or disability
People Management: TUC suggests organisations must do more to support older workers. Read story
ACA: Universal retirement age ‘difficult to justify’
Corporate Adviser: The concept of a universal retirement age is difficult to justify because socio-economic class, geographical location, level of earnings or occupation are all such significant predictors of longevity says the Association of Consulting Actuaries. Read story
Senior staff receive more benefits than junior employees
HR Magazine: Women also receive considerably fewer workplace benefits overall than men. Read story
Women ask for pay rises as often as men
HR Magazine: Women ask for pay rises as often as men but are less successful. Read story
Sports Direct commits to supporting staff wellbeing
Employee Benefits: Sports Direct plans to review and improve working conditions, which will include taking action to better support the wellbeing of staff and addressing pay issues. Read story
Bayer holds month-long summer events programme for staff
Employee Benefits: Life sciences organisation Bayer has rewarded its UK-based staff with a summer activity programme, which included free lunchtime barbeques and an Olympics-themed event. Read story
HMRC delays VAT rules for DB schemes
Professional Pensions: HM Revenue and Customs (HMRC) has further delayed the implementation of rules on value-added tax (VAT) reclaims for defined benefit (DB) schemes until December 2017. Read story
Gerald Eve engages staff with pension saving through bonus scheme and financial education
Employee Benefits: Property consultancy Gerald Eve, which employs more than 430 staff across nine UK offices, utilises a range of communication channels and topical and lifestage-focused financial education support to engage its employees with pension saving. Read story
Research shows generational gulf in spouse pension provision
Professional Pensions: Aegon has warned of a retirement shortfall for the bereaved as pre-retirees are increasingly not arranging for pension payments to go to their partners after death. Read story
Forty-somethings falling behind in pension saving
Corporate Adviser: Savings adequacy amongst 40 to 49-year-olds has fallen over the last year, with just 53 per cent of that age group on target for a secure retirement today, compared to 57 per cent a year ago, according to research from Scottish Widows. Read story
Government must press ahead with national living wage rises
Personnel Today: The Government should continue to increase the national living wage at the rate it planned when it was announced, according to the Resolution Foundation. Read story
Employers urged to use group risk to support staff in difficult times
Health Insurance Daily: The call by trade body Group Risk Development (GRiD) comes ahead of World Suicide Prevention Day on 10 September. Read story
Workers skipping lunch breaks and failing to get enough sleep
Health Insurance Daily: There is a national divide between the unhealthy habits and the quick fitness hacks that people adopt due to working long hours and busy social schedules, research by Bupa UK health clinics has found. Read story
31% of long-term sickness claims are for cancer
Employee Benefits: Just under a third (31%) of long-term sickness claims paid relate to cancer, according to research by Unum. Read story
BHSF acquires Nexus Healthcare
Employee Benefits: Health and wellbeing organisation BHSF has acquired London-based occupational health services provider Nexus Healthcare. Read story
Government presses ahead with Lifetime Isa
Employee Benefits: The Savings (Government Contributions) Bill 2016-2017, which will legislate for the Lifetime individual savings account (Lisa), has been introduced to the House of Commons. Read story
FCA consults on Pension Wise standards for secondary annuity market
Employee Benefits: The Financial Conduct Authority (FCA) has launched a consultation into the standards of support expected of Pension Wise for those considering selling an annuity upon the launch of the secondary annuity market. Read story
KPMG uses employee-led networks to drive caring initiatives
Employee Benefits: Audit, tax and advisory organisation KPMG utilises a range of measures to put employees in the driving seat when it comes to formulating and structuring initiatives that support working carers and parents within the workplace. Read story
EAT rules that pay protection can be a reasonable adjustment for disabled staff
Employee Benefits: The Employment Appeal Tribunal (EAT) has ruled that pay protection can be included as a reasonable adjustment for disabled employees. Read story
56% are saving adequately for retirement
Employee Benefits: Just over half (56%) of respondents are saving enough money for their retirement, according to research by Scottish Widows. Read story
TPR: Trustees must “wake up and smell the coffee” on ESG
Professional Pensions: The Pensions Regulator has warned trustees against complacency when assessing environmental and social governance (ESG) issues within portfolios. Read story
Post Office workers to strike over DB closure plans
Professional Pensions: Post Office employees are set to strike next week over the planned closure of its defined benefit (DB) scheme and branches. Read story
Unions condemn planned closure of ITV’s DB scheme
Professional Pensions: Unions have blasted ITV for putting members’ retirement plans “in jeopardy” by planning to close its defined benefit (DB) scheme to future accrual. Read story
Use of zero-hours contracts up 21 per cent in a year
People Management: ONS figures show 903,000 work on zero hours in their main job, and many have been with the same employer for more than a year. Read story