At a glance: reward and benefits headlines this week
The headlines you might have missed between 19-25 February
L&G imposes tech restrictions for new auto-enrol business
Corporate Adviser: Employers and advisers using Legal & General for automatic enrolment are being forced to go through one of two technology ‘middleware’ providers. Read story
Standard Life reveals directors’ pay deals
Money Marketing: Standard Life has revealed the details of its directors’ pay packages, with former chief executive David Nish continuing to be paid his £835,000 salary while on gardening leave. Read story
IFoA warns triple lock will worsen intergenerational unfairness
Professional Pensions: The state pension triple lock is unnecessary and could place an unfair burden on future working generations, the Institute and Faculty of Actuaries (IFoA) has argued. Read story
Met Office staff to strike over pay
Employee Benefits: Met Office employees are to strike on 24 February in a dispute over pay. Read story
Morrisons invests £30m in staff rest area revamp
Employee Benefits: Morrisons is to conduct a four-year, £30 million makeover of its facilities for staff. Read story
Royal London loses appeal on blocked pension transfer in High Court
Professional Pensions: Royal London has lost the right to block a suspected pension liberations transfer in a landmark ruling at the High Court, which could have far-reaching consequences across the industry. Read story
92% falling behind on retirement savings targets
Employee Benefits: The majority (92%) of respondents are falling behind on their retirement savings targets, according to research by Aegon UK. Read story
33% name company cars as the best work perk
Employee Benefits: A third (33%) of employee respondents say that a company car is the best work perk an employer could offer, according to research by OSV Vehicles and Motoring. Read story
HSBC reduces executives’ pensions payments to 30% of base salary
Employee Benefits: HSBC has reduced the amount of cash executive directors receive in lieu of pensions from 50% to 30% of base salary. Read story
47% do not have access to support for eating disorders in the workplace
Employee Benefits: Almost half (47%) of respondents do not have access to workplace support mechanisms for eating disorders, according to research by eating disorder charity Beat. Read story
British Gas case ruling confirms that commission must be included in holiday pay calculations
Employee Benefits: The Employment Appeal Tribunal (EAT) has determined that commission payments must be included in calculations for employees’ annual leave and holiday pay. Read story
High Court rules in pensions transfer case
Employee Benefits: The High Court has ruled against Royal London in a pensions transfer case, overturning the Pensions Ombudsman’s earlier determination in favour of the mutual life and pensions provider. Read story
Isle of Man faces up to DB sustainability question
Pensions Expert: The Isle of Man government last week made clear its intention to further reform public sector pensions on the island, a microcosm of UK schemes struggling to remain sustainable. Read story
Webb accuses Chancellor of ‘daylight robbery’ over pension tax reforms
Professional Pensions: The former pensions minister Steve Webb has accused the Chancellor of orchestrating a ‘daylight robbery’ with his proposals to reform tax relief. Read story
FCA consults on how financial firms can better support ageing population
Professional Pensions: The Financial Conduct Authority (FCA) has launched a discussion paper to learn how financial services firm can better engage with an increasingly ageing population. Read story
Fifth of schemes not reviewed default strategy after April freedoms
Professional Pensions: Almost a fifth of schemes have not reviewed their default investment strategy in light of freedom and choice according to Lifesight, the master trust owned by Willis Towers Watson. Read story
High Court ruling ramps up fears over pension liberation
Pensions Expert: The High Court has ruled against insurer Royal London for blocking a pension transfer where it suspected the receiving fund could be a pensions liberation scheme, prompting industry observers to raise concerns about protections for members, providers and trustees. Read story
Intergenerational fairness review closes amidst tax relief fears
Corporate Adviser: The DWP enquiry into intergenerational fairness closed today amid claims that the pension tax review risks inflaming intergenerational tension. Read story
Aon’s ‘Honest Kev Wesbroom’ sets out Pensions Stakes odds
Corporate Adviser: Aon is backing flat rate relief as the front-runner outcome of the pension incentives consultation, with the pension Isa model second most likely. Read story
Cost of national living wage will put ‘significant pressure’ on struggling councils
CIPD: LGA says financial benefits of council tax hikes will be mitigated by NLW. Read story
Holiday pay case: EAT confirms employers must pay commission
Personnel Today: Employers will have to pay commission as part of holiday pay, the Employment Appeal Tribunal (EAT) has confirmed. Read story
Countrywide introduces discount scheme for staff
Employee Benefits: Countrywide has introduced a new employee discount scheme for its 12,000 members of staff, as well as their close family members. Read story
70% are against changing the current pensions tax relief system
Employee Benefits: More than two-thirds (70%) of employer respondents do not think that the current pension tax relief system should change, according to research by Hargreaves Lansdown. Read story
Government to legislate on master trusts ‘as soon as practically possible’
Professional Pensions: The government will introduce legislation to boost the governance and monitoring of master trusts, according to economic secretary to the Treasury Harriet Baldwin. Read story
LGPS Northern Powerhouse reveals pooling plans
Professional Pensions: Three local government pension funds have submitted their initial pooling proposal to the government to demonstrate how they will work together. Read story
Lock holiday pay decision: how employment lawyers reacted
Personnel Today: It was confirmed that British Gas lost its appeal in its long-running case against one of its sales staff, Mr Lock, over whether he was entitled to commission as part of his holiday pay. Read story
MPs vote to cut disability benefits by £30 a week
Cover Magazine: MPs have rejected the House of Lord's vote against reducing the Employment and Support Allowance (ESA) for sick or disabled people in the work-related activity group (WRAG)by £30 a week. Read story
Hargreaves calls time on salary sacrifice
Corporate Adviser: Salary sacrifice is highly likely to be abolished, taxed or curtailed in some way in this year’s Budget, as part of the Government’s overhaul of pension tax incentives says Hargreaves Lansdown. Read story
Treasury to legislate against master trust proliferation
Corporate Adviser: Rules surrounding the operation of master trusts will be tightened up by new legislation announced by Treasury Minister Harriett Baldwin yesterday. Read story
HR and the talent ecosystem
HR Magazine: Organisations that refuse to embrace an ecosystem of dispersed talent will be at the bottom of the food chain. Read story
KP Snacks to re-launch bikes-for-work scheme
Employee Benefits: KP Snacks is to re-launch its bikes-for-work scheme in April 2016. Read story
20% to maintain pay differentials impacted by national living wage
Employee Benefits: A fifth (20%) of respondents will maintain pay differentials between employees affected by the national living wage and their managers, according to research by the Chartered Institute of Personnel and Development (CIPD) and the Resolution Foundation. Read story
55% take an active interest in their pension savings
Employee Benefits: More than half (55%) of respondents take an active and regular interest in their pension savings, according to research by chartered accountant and business adviser Price Bailey. Read story
How employers can help staff to ‘mind the gap’
Reward Guide: The state pension on its own is unlikely to give retirees a comfortable retirement, says Jeanette Makings of Close Brothers. Read story
Let the planning match the policy
Reward Guide: Employers want their workforce to be healthy, but although most offer some type of wellbeing benefit, their health strategies aren’t always joined up to the reward, says Peter Crush. Read story
Reform has happened too quickly and is dangerous says industry
Professional Pensions: The pace of change in pension reform has been too fast and risky according to PP research. Read story
Industry supports government to beef up standards of master trusts
Professional Pensions: The intention of the government to increase the scrutiny of master trusts through fresh legislation has been championed by a number of industry players. Read story
Slashing of tax relief for higher earners ‘close to certain’
Professional Pensions: The reduction of tax relief for high earners is a near certainty in the March Budget according to Hargreaves Lansdown. Read story
Productivity ‘key to meeting national living wage challenge’, says CIPD report
CIPD: Minister suggests new threshold will spur businesses to greater efficiency. Read story