At a glance: reward and benefits headlines this week
The headlines you might have missed between 22-28 July
Brexit causing job security fears
Health Insurance Daily: The UK’s decision to leave the EU has left many employees feeling vulnerable about their job security, a survey shows. Read story
High childcare costs ‘deny working parents a decent living standard’
Health Insurance Daily: High childcare costs leave working couples £2,600 a year short of a decent living standard, according to the Joseph Rowntree Foundation (JRF). Read story
Uber tribunal case has employment lawyers “glued"
HR Magazine: The Uber tribunal case has employment lawyers “glued,” according to ELAS consultant and employment law specialist Emma O’Leary. Read story
Legal lowdown: the Asda equal pay case
HR Magazine: Retailer Asda faces the largest equal pay action in the private sector to-date, so what does this landmark case mean for other employers? Read story
Govt rejects MPs’ call for ‘urgent’ Lifetime Isa study
Money Marketing: The Government will not commission a study into the possible impact of the Lifetime Isa on pensions. Read story
PPF posts £4.1bn surplus as confidence rating soars to highest level
Professional Pensions: The likelihood of the Pension Protection Fund (PPF) meeting its 2030 self-sufficiency target has risen to 93% in its 2015/16 report. Read story
TPR launches pension trusteeship paper
Professional Pensions: The Pensions Regulator (TPR) has published a discussion paper on how to drive up standards of pensions trusteeship and shape future regulatory policy. Read story
Sports Direct yet to resolve back pay issues
Employee Benefits: The Business, Innovation and Skills (BIS) Select Committee has released a report into employment practices at Sports Direct, which includes concerns around pay deductions and outstanding back pay. Read story
91% would engage in healthier behaviours if rewarded
Employee Benefits: More than nine in 10 (91%) US respondents would engage in healthier behaviours if they were rewarded, according to research by Welltok and the National Business Group on Health (NBGH). Read story
Govt: Little risk to employers on AE scheme selection
Corporate Adviser: Employees are unlikely to have a strong claim against their employer for the selection of an auto-enrolment scheme that performs badly or fails provided they have acted in good faith, the Government has confirmed. Read story
Tax take to fall 8.4pc on Brexit loss of 100,000 high earners
Corporate Adviser: A Brexit-fuelled loss of 100,000 high earners would lead to an 8.4 per cent fall in income tax revenue, figures from LCP show. Read story
MPs say Philip Green has ‘moral duty’ to save BHS pensions
Money Marketing: Former BHS owner Sir Philip Green has a “moral duty” to repair the firm’s £571m pensions deficit, according to a damning Government report on the retailer’s collapse. Read story
HMRC cleaners strike over pay
Employee Benefits: Cleaners in Merseyside who are members of the Public and Commercial Services Union (PCS) are taking part in a two-day strike, starting today (Monday 25 July 2016) in a dispute over pay. Read story
Goldsmiths gains living wage accreditation
Employee Benefits: Goldsmiths, University of London, has been accredited as a living wage employer by the Living Wage Foundation. Read story
Half of UK workers not happy with their employee benefits
Reward Guide: New research has revealed that almost half of all UK workers (48%) think their current employee benefits package is not tailored to their needs. Read story
Sackers offers a range of support measures to working parents
Employee Benefits: Law firm Sackers has received external recognition for its dedication to forging a family-friendly work environment, scooping the Best for all stages of motherhood award at the Working Families Awards 2016. Read story
Inconsistency in DC default could lead to greater opt-outs
Professional Pensions: Lack of consistency across defined contribution (DC) default funds may result in larger numbers of members opting out, Punter Southall Aspire has warned. Read story
Plumbing scheme plans to seek guidance from Scottish courts as government drags feet on s75
Pensions Expert: Plumbing Pensions’ prolonged consultation with a departing employer over its exit fee has brought to light fundamental problems with section 75 debt legislation as it currently stands for non-associated multi-employer schemes. Read story
North Sea Shell workers strike over pay and allowances
Employee Benefits: Wood Group employees based on Shell platforms across the North Sea who are members of the RMT and Unite unions are taking part in a 24-hour strike today (Tuesday 26 July 2016) in a dispute over pay and allowances. Read story
Japanese employer extends spousal benefits to same-sex partners
Employee Benefits: Japanese organisation Rakuten has extended the benefits available to employees’ spouses to same-sex partners. Read story
40% of 18-24 year olds cite good work-life balance as career goal
Employee Benefits: Four in 10 (40%) respondents aged between 18 and 24 name a good work-life balance as their main career goal, according to research by Reed. Read story
Altmann: BHS will test robustness of pensions regime
Professional Pensions: What happens next with British Home Stores (BHS) will judge whether pensions regulation is strong enough to safeguard members says Ros Altmann. Read story
BHS report exonerates TPR from failure and blames Green
Professional Pensions: MPs have concluded the regulator was not responsible for the collapse of plans to rescue the BHS pension schemes. Michael Klimes examines the report. Read story
Annuity complaints fall to pre-pension freedom levels
Professional Pensions: The number of annuity-related complaints handled by the Financial Ombudsman Service (FOS) between April and June has dropped to lower levels than before pension freedoms were introduced, while all other pension complaints were on the rise. Read story
JLT cuts 300 employee benefit jobs as RDR hits revenue
Money Marketing: JLT has reduced headcount at its UK and Ireland employee benefit business by over 300 as part of a restructure of the group. Read story
Reduce size and complexity of executive pay packets, say investors
People Management: Influential report calls for more transparency in the way senior leaders are rewarded – and will recommend wider disclosure of pay ratios. Read story
DWP should be abolished says Labour’s Smith
Corporate Adviser: Labour leadership hopeful Owen Smith has called for the Department for Work and Pensions to be abolished and replaced with a Ministry for Labour and a Department for Social Security. Read story
Now: Pensions – 4 in 10 employers risking AE breach
Corporate Adviser: Four out of 10 employers contacting Now: Pensions did so either very close to their staging date or after it. Read story
TPR: Half million less AE employers than predicted
Corporate Adviser: Almost half a million less employers than predicted will have to go through auto-enrolment because they are ‘single person directors’, the Pensions Regulator has confirmed. Read story
Marc Meryon: On-demand economy raises questions around workplace rights
Employee Benefits: New working models emerging from the digital, on-demand economy have given rise to a wave of tribunal cases, with individuals looking to establish the extent of their workplace rights. Read story
Majestic Wine CEO shares £7m bonus with staff
Employee Benefits: Majestic Wine chief executive officer Rowan Gormley has requested that his share award bonus, which could be worth up to £7 million, is distributed among 493 eligible employees, potentially netting each member of staff approximately £14,000. Read story
44% feel confident discussing stress or mental health issues with their employer
Employee Benefits: Less than half (44%) of respondents would not feel confident discussing unmanageable stress or mental health problems with their current employer or manager, according to research by the Chartered Institute of Personnel and Development (CIPD). Read story
Electrical contractors’ wages to rise by up to 3%
Employee Benefits: The Electrical Contractors’ Association (ECA) has agreed a four-year wage deal that will see its members’ pay increase by up to 3% in 2020. Read story
‘Squeezed’ savers sacrifice pensions but half willing to seek advice
Professional Pensions: Millions of people who identify as ‘squeezed’ savers are neglecting pension planning as they struggle to pay bills and meet everyday commitments, Royal London research has found. Read story
One in three employees have experienced mental health problems
Health Insurance Daily: The number of people who have experienced mental health issues while in employment has climbed from a quarter to a third over the last five years, research shows. Read story
Total enhances employee shareholder proposition
Employee Benefits: Global energy organisation Total, which employs 96,000 members of staff, has made changes to its employee shareholder proposition. Read story
40% of expats move abroad for better work-life balance
Employee Benefits: Four in 10 (40%) expatriate respondents cite a better work-life balance as the main driver for moving abroad, according to research by Axa PPP International. Read story
6.1 million employees have been auto-enrolled into a pension scheme
Employee Benefits: More than 6.1 million UK employees have been automatically enrolled into a pension scheme since 2012, according to research by The Pensions Regulator (TPR). Read story
TPR publishes updated DC code
Professional Pensions: The Pensions Regulator (TPR) has published its updated defined contribution (DC) code of practice, detailing the standards scheme trustees are expected to meet. Read story
Eight things you need to know about the new DC code
Professional Pensions: The Pensions Regulator (TPR) has today released its updated defined contribution (DC) code of practice, as well as six guides on complying with legal obligations. Read story
Shockwaves: BHS scandal set to fuel next wave of DB transfers
Money Marketing: Advisers are braced for another wave of defined benefit pension transfers as the collapse of high street retailer BHS sends shockwaves through a public worried about the frailty of the pension system. Read story
Nearly one in seven over-65s boost pensions by working
Reward Guide: Analysis and research has found that the median additional earnings for working over-65s hit £296 a week. Read story