At a glance: reward and benefits headlines this week
The headlines you might have missed between 24-31 March 2016.
NHS ‘powerless to stop’ all-out junior doctors’ strike
People Management: But employment lawyers suggest requirements in trade union bill could significantly limit future action by key services. Read story
HR challenged to take the lead on pregnancy and maternity discrimination
People Management: EHRC urges increased dialogue, as three in four working mothers report negative treatment at work. Read story
American Airlines reinstates profit-sharing programme
Employee Benefits: American Airlines is reinstating a profit-sharing programme that will put 5% of the organisation’s pre-tax income into a pool to be shared among its employees. Read story
T3N trials bitcoin salary and benefits offering
Employee Benefits: German technology publication T3N will enable employees to receive salary payments in digital currency bitcoin. Read story
71% of millennials do not understand their pension investments
Employee Benefits: More than two-thirds (71%) of millennial respondents do not understand or are unsure about their pension investments, according to research by Barnett Waddingham. Read story
Land of the free? The complexities that risk undermining Osborne’s Lifetime Isa
Money Marketing: George Osborne’s Lifetime Isa has been hailed both as a boost to the saving prospects of the young and self-employed, while also signalling the destruction of the pension as we know it. Read story
National living wage will be ‘largest increase in minimum pay in history’, says think tank
People Management: Employers prepare for 'ripple effect' of increased wages, projected to benefit 2.6 million staff. Read story
Leaveism: the new workplace wellbeing threat
People Management: Research into leaveism is in its earliest stages, says Professor Sir Cary Cooper, but organisations need to be aware of its causes and impact on employee wellbeing. Read story
DB deficits double to £0.8trn since 2006
Professional Pensions: The shortfall of defined benefit (DB) schemes has risen from £425bn to £800bn in nine years despite employers trying to plug the gap. Read story
EDF Energy accredited as living wage employer
Employee Benefits: EDF Energy has been accredited as a living wage employer by the Living Wage Foundation. Read story
Kingfisher agrees £230 million pension buy-in
Employee Benefits: Retail group Kingfisher has completed a £230 million medically underwritten buy-in transaction for its defined benefit (DB) pension scheme. Read story
A fifth do not expect to retire until after age 70
Employee Benefits: Just over a fifth of respondents do not expect to be able to retire until they are in their seventies, according to research by Willis Towers Watson. Read story
What does the Lisa mean for workplace pensions?
HR Magazine: Chancellor George Osborne said that young people find pensions too complicated and inflexible. Read story
Asda moves to segment motivation
Employee Benefits: Retail-chain Asda currently has a one-size-fits-all motivation strategy for its 175,000 employees, but it is hoping to offer more diverse options in the future. Read story
Tesco gears DC default towards freedoms
Pensions Expert: Supermarket Tesco has a new default investment structure aimed at allowing members to access the full range of freedoms in its recently established defined contribution plan, but administrative complexity still holds many schemes back. Read story
Would a Brexit mean less red tape for UK schemes?
Pensions Expert: Analysis: The volume of European regulatory changes has radically increased the governance burden on UK pension schemes in recent years; voting to leave the European Union must be tempting for trustees keen to cut the red tape. Read story
UKTV works together to motivate employees
Employee Benefits: Television broadcaster UKTV operates according to its philosophy of working together to create a better organisation and in line with its set of values: create, learn, influence, challenge and collaborate. Read story
National living wage: three practical scenarios for employers
Personnel Today: The national living wage comes into effect on 1 April 2016. How well prepared is your organisation for applying rate changes when a worker moves from one rate to a higher rate band of the national minimum wage? Ashok Kanani looks at three practical scenarios. Read story
MPs re-launch AE probe after Lisa concerns
Professional Pensions: The Work and Pensions Committee has reopened its inquiry into auto-enrolment (AE) on the back of fears it could be undermined by the Chancellor’s lifetime ISA (LISA). Read story
Standard Life caps early exit charges at 5%
Professional Pensions: Early exit charges for members wanting to access their pot at age 55 will be capped at 5% according to Standard Life. Read story
Ikea to increase pay for 7,300 employees
Employee Benefits: Ikea UK is to increase the rates of pay for 7,300 employees through the introduction of the living wage and proportionate pay rises for team leaders. Read story
Mercer and Thomsons Online Benefits partner on global benefits
Employee Benefits: Talent, health and wealth consulting firm Mercer has partnered benefits software provider Thomsons Online Benefits to offer global benefits management solutions for multi-national organisations. Read story
California commits to $15 an hour minimum wage
Employee Benefits: The US state of California is to increase its minimum wage to $15 an hour by 2022. Read story
Ombudsman upholds pensions tax complaint against police
Employee Benefits: The Pensions Ombudsman has upheld a police officer, Mr Cherry’s complaint that his employer had a duty of care to inform him of the tax implications of re-employment on his retirement benefits. Read story
How can the industry tackle growing pension scam threat?
Employee Benefits: Savers are facing a new wave of increasingly sophisticated attacks from criminals looking to access their pension savings as experts warn the challenge of detecting and stopping frauds is getting harder. Read story
In the dock: Providers on trial over workplace pensions
Money Marketing: Dogged by criticism over their lack of independence and powers, new watchdogs for workplace pensions have published their first reviews into provider practices. Read story
Facebook, Google and Nasa among America’s Best Employers
Employee Benefits: Costco, Facebook, Google, Nasa, SAS and Southwest Airlines are among those named on Forbes’ America’s Best Employers 2016 list. Read story
Golin introduces unlimited leave and enhances benefits package
Employee Benefits: Communications agency Golin is to introduce an enhanced benefits programme, including unlimited leave, extended family-friendly benefits and new health and wellbeing initiatives. Read story
64% of retailers to extend national living wage to under 25s
Employee Benefits: Almost two-thirds (64%) of retail chain respondents are set to implement the national living wage for all employees, regardless of age, according to research by Willis Towers Watson. Read story
Where’s the money going?
Reward Guide: A year has passed since the pension freedoms came into play…are people using their money wisely? Read story
More than a third support Lisa expansion, research shows
Pensions Expert: Many under-40s are planning to save into Lifetime Isas alongside their workplace pension, research commissioned by mastertrust Now Pensions this week revealed, but support for expansion of the new savings vehicle could pose a threat to pensions. Read story
Shipbuilding scheme docks £220m into LDI
Pensions Expert: The Shipbuilding Industries Pension Scheme has committed £220m to a liability-driven investment mandate run by Legal & General Investment Management, as it seeks to derisk and hedge against interest rate rises. Read story
A year on from freedoms, pension scam fears are coming true
Professional Pensions: People are at risk of being scammed as fraudsters take advantage of freedom and choice, according to Citizens Advice research. Stephanie Baxter reports. Read story
Nearly one in five transfers out of DB since April freedoms
Professional Pensions: Almost one in five members transferred out of their defined benefit (DB) scheme to use their freedoms after receiving advice according to Willis Towers Watson. Read story