At a glance: reward and benefits headlines this week
The headlines you might have missed between 29 April - 5 May
Nationwide targets 30% in illiquids
Pensions Expert: The Nationwide Pension Scheme is struggling to find suitable illiquid investments as it targets 30 per cent of its portfolio in the assets, the scheme’s chief investment officer has said. Read story
Chobani CEO gives shares to 2,000 staff
Employee Benefits: Hamdi Ulukaya, founder and chief executive officer at US-based Greek yoghurt manufacturer Chobani, has given employees a stake in the organisation. Read story
Style.com launches employee engagement platform
Employee Benefits: Condé Nast’s new e-commerce platform Style.com is to launch an employee engagement programme for its 85 employees. Read story
42% would be interested in taking part in a bikes-for-work scheme
Employee Benefits: More than four in ten (42%) respondents would be interested in taking part in a bikes-for-work scheme if their employer provided one, according to research by Edenred. Read story
20% of advertising and media staff do not feel supported with parenting responsibilities
Employee Benefits: One-fifth (20%) of employee respondents in the advertising and media industry do not feel that their employer supports them in balancing work and parental responsibilities, according to research by the National Advertising Benevolent Society (NABS). Read story
Treasury shelves salary sacrifice crackdown over Brexit fears
Money Marketing: The Treasury will postpone plans to crack down on salary sacrifice arrangements until after the referendum on EU membership, Money Marketing understands. Read story
MPs challenge Govt on cost of Waspi early state pension take-up
Money Marketing: Influential MPs predict the cost to the Government of allowing a group of women early access to the state pension would be minimal. Read story
Budget ‘choking pension saving’ – ACA chair David Fairs
Corporate Adviser: The Budget’s ‘silent revolution’ will progressively choke off pension saving down the income scale says Association of Consulting Actuaries chairman David Fairs. Read story
Group risk payouts soar by 10 per cent
Corporate Adviser: Payouts by group risk providers rose by over 10 per cent in 2015, with £1.4bn being paid out to a total of 24,603 UK families, according to industry data compiled by Group Risk Development (Grid). Read story
Asda shops for income streams with £9m cinema purchase
Pensions Expert: Asda Pension Fund has bought a £9.1m multiplex cinema as part of an ongoing property programme, as schemes continue to lap up real assets for their portfolios. Read story
Centrica commits £300m to unleveraged infrastructure equity
Pensions Expert: Unleveraged infrastructure is a growing part of Centrica Pension Scheme’s portfolio as the fund seeks to access long-term, stable cash flows, but others warn about the regulatory risk associated with the asset class. Read story
Goodman Masson receives external recognition for its innovative approach
Employee Benefits: Goodman Masson has received a significant amount of external recognition for its workplace culture, reward strategy and its innovative approach to employee engagement, including first place in Great Place to Work’s UK Best Workplaces 2015, medium category. Read story
John Lewis Partnership works to ensure benefits add value
Employee Benefits: For the John Lewis Partnership, employee benefits are one of a number of elements that have helped to establish its reputation as a great place to work. Read story
Bibby Financial Services looks to total reward proposition to help it stand out from the crowd
Employee Benefits: Bibby Financial Services achieved 31st place in the 2016 Sunday Times 100 Best Companies to Work For list, moving up 19 places from its 2015 ranking. This is the fifth time that the organisation has ranked in the top 100. Read story
AccorHotels UK extends national living wage to all staff
Employee Benefits: AccorHotels UK will pay the new national living wage rate to all employees, regardless of age. Read story
UK group risk industry paid out £1.4bn in 2015
Employee Benefits: The UK group risk industry paid out a total of £1.4bn-worth of claims in 2015, according to research by industry body Group Risk Development (Grid). Read story
UK health insurance costs expected to rise by 6.5%
Employee Benefits: UK health insurance costs are expected to rise by 6.5% in 2016, according to research by Willis Towers Watson. Read story
Aegon to acquire BlackRock’s DC platform and administration arm
Professional Pensions: Aegon has agreed to purchase BlackRock’s defined contribution (DC) platform and administration arm, increasing its platform-based workplace savings business to £30bn. Read story
BHS trustees ‘not to blame’ for scheme’s difficulties
Professional Pensions: The trustees of the British Home Stores (BHS) scheme have done the best they can in the very difficult circumstances, according to experts. Read story
FTSE 100 deficits increase £7bn since March
Professional Pensions: The aggregate funding level of defined benefit (DB) schemes of the FTSE 100 companies has fallen to 85%, according to JLT Employee Benefits. Read story
Government to consult on banning deductions from employees’ tips
People Management: But hospitality employers may face ‘secondary consequences’ if costs rise. Read story
Standard Life acquires Elevate
Money Marketing: Standard Life has completed a deal to acquire Axa Elevate for an undisclosed sum. Read story
MPs to quiz PPF and TPR on BHS next week
Professional Pensions: The Work and Pensions Committee also intends to hear from the BHS pension trustees and Retail Acquisitions head Dominic Chappell. Read story
PPF receives s120 insolvency notice for Austin Reed
Professional Pensions: The privately owned company operates one combined defined benefit (DB) scheme called the Austin Reed Group Pension Fund. Read story
Pensions industry set to vote to stay in EU
Professional Pensions: The platform's research of 120 pension industry stakeholders between 11 April and 22 April found 61% providers, trustees and consultants would vote to remain. Read story
Schemes 'rolling the dice in desperation' by waiting for rate rise
Professional Pensions: The low interest rate environment is still a big challenge for schemes, and is being compounded by the continued market volatility. Read story
Gender pay gap reporting timeline: key dates for HR
Personnel Today: Although gender pay gap reporting legislation does not take effect until October, employers may have to collect gender pay gap data from as early as 1 May 2016. HR professionals can use this timeline to get ready for their reporting obligations. Read story
California and New York press ahead with $15 minimum wage plans
Employee Benefits: New York and California have committed to introducing a statewide $15 an hour minimum wage. Read story
US women footballers file wage discrimination complaint
Employee Benefits: Five members of the US Women’s National Team have filed a wage discrimination complaint with the Equal Employment Opportunity Commission against the United States Soccer Federation. Read story
Aegon to acquire BlackRock’s defined contribution platform
Employee Benefits: Retirement and workplace savings organisation Aegon has entered into an agreement to acquire BlackRock’s UK defined contribution (DC) platform and administration business. Read story
Berry Recruitment launches employee engagement programme
Employee Benefits: Berry Recruitment is introducing an employee engagement programme for its 250 employees, including a recognition scheme and access to a range of voluntary benefits. Read story
Field writes to Insolvency Service and SFO about BHS
Professional Pensions: The Work and Pensions Committee (WPC) has told the Insolvency Service (IS) and Serious Fraud Office (SFO) it will co-operate with any probes into British Home Stores (BHS). Read story
PASA revises standards and looks to boost master trust membership
Professional Pensions: The Pensions Administration Standards Association (PASA) has refreshed its accreditation standards and is considering further changes to better suit master trusts. Read story
‘Value for money’ for all not always possible for DC members, says PPI
Professional Pensions: Failure to find an agreed definition of the ‘value for money'concept means trustees and providers are unable to provide schemes in the best interests of all members according to the Pensions Policy Institute (PPI). Read story
HMRC in ‘nightmare’ pensions death tax blunder
Money Marketing: HMRC has been forced to suspend death benefit reporting after grieving consumers were incorrectly sent notices demanding tax that was not due. Read story
Negative stereotypes of older workers persist
HR Magazine: Some employees believe having older employees in the workplace creates more problems than benefits. Read story
Travis Perkins unifies its benefits offering
Employee Benefits: Travis Perkins, which employs approximately 30,000 people across the UK, operates according to its five core values, known as cornerstones: upholding family values, keeping people safe, working for its customers, being the best, and making decent returns. Read story
Selex cuts costs with new CARE structure
Pensions Expert: The Selex Pension Scheme has moved to a career average revalued earnings structure following the results of its latest triennial valuation, in an attempt to cut costs and reduce risk. Read story
Deutsche Bank, Facebook and Google among top 10 highest-paying organisations
Employee Benefits: Deutsche Bank, Facebook and Google are among the top 10 highest-paying organisations in the UK, according to research by Glassdoor. Read story
Reward Gateway introduces one year’s fully paid parental leave globally
Employee Benefits: Reward Gateway has enhanced its parental leave policy to up to one year on full pay. Read story
42% view flexible working as key to supporting older workforce
Employee Benefits: More than four in ten (42%) respondents view flexible working as the most important benefit for supporting an older workforce, according to research by Canada Life Group Insurance. Read story
Six-fold rise in number of fines for pension non-compliance
People Management: Experts warn more employers will face penalties as SME auto-enrolment deadlines loom. Read story