At a glance: reward and benefits headlines this week 1-7 November 2019
The headlines you might have missed between 1-7 November.
DWP annual benefit statement consultation questions voluntary adoption
Professional Pensions: The Department for Work and Pensions (DWP) has published a consultation seeking views on the principle, adoption, and delivery of simpler annual benefit statements for workplace pensions. Read story
NEST members' panel calls on government to reduce AE earnings threshold
Professional Pensions: The NEST members’ panel is calling on the government to start reducing the £10,000 auto-enrolment (AE) earnings threshold, before the move to start contributions from the first pound earned. Read story
Half of UK adults plan to work past retirement, finds survey
People Management: Employers urged to offer more flexible options as older workers shun ‘cliff-edge’ retirement. Read story
Amazon pilots virtual healthcare service for US employees
Employee Benefits: Online retailer and technology organisation Amazon is piloting a virtual healthcare service, Amazon Care, for its US employees, with a view to ultimately making it available to all 650,000 employees enrolled in an Amazon health insurance plan. Read story
Perega becomes employee-owned as part of corporate rebrand
Employee Benefits: Civil and structural engineering consultancy Perega has become employee-owned, after rebranding and changing its name from Thomasons as part of a move to overhaul its corporate brand identity, which includes strengthening its focus on employees and clients. Read story
Vodafone to equalise parental leave benefit across all 24 locations globally
Employee Benefits: Telecommunications provider Vodafone is to roll out an update to its global parental leave policy, offering all employees 16 weeks of fully paid leave. Read story
Government could legislate on pension simpler statements
Pensions Age: Pensions Minister Guy Opperman has said that the government will introduce legislation designed to force schemes and providers to issue short and simple pension statements if they do not take on its recommendations on a voluntary basis. Read story
People with disability paid almost a fifth less than non-disabled employees
HR Review: The Trade Union Congress (TUC) has launched the Disability Pay Gap Day today (4th November), as disabled people effectively work for free during the last 57 days of the year due to the fact they are almost paid a fifth less compared to non-disabled workers. Read story
International Stress Awareness Week: Can a short nap at work reduce stress and boost productivity?
HR Review: In light of International Stress Awareness Week (4th – 8th November), a company has put forward a motion that naps at work could lead to staff feeling refreshed, more alert and energized. Read story
Altmann calls for pension reforms in election manifestos
Corporate Adviser: Leading pension campaigner, Baroness Ros Altmann has called for the main parties to address a range of pension reforms within their forthcoming election manifestos. Read story
Bereaved staff need more support from managers: MetLife
Corporate Adviser: Workplaces need to do more to support employees coping with bereavement, according to new research from MetLife UK. Read story
Pension tax concerns 'distracting' from crucial industry issues
Professional Pensions: Major industry concerns such as GMP equalisation are being left on the back burner as employers continue to grapple with the complexities of pensions tax, the Association of Consulting Actuaries says. Read story
Lords bill seeks to give TPR dividend approval and scrap PPF cap
Pensions Expert: An ambitious bill brought before the House of Lords last week would give the Pensions Regulator approval over company dividend payments, and remove the cap on compensation payments made by the Pension Protection Fund. Read story
Increasing minimum wage will not cost jobs, says government study
People Management: Treasury says independent findings support plans to lift national living wage to £10.50 per hour by 2024. Read story
Asda announces £0.18 hourly pay increase for 120,000 employees
Employee Benefits: Supermarket retailer Asda has announced that it will be increasing the hourly pay rate for its 120,000 retail employees to £9.18 per hour. Read story
Boots pharmacists to receive a pay increase of up to 2%
Employee Benefits: Approximately 6,500 pharmacists working at health and beauty retailer and pharmacy Boots will receive a pay rise of up to 2% in November 2019. The pay increase comes after a series of negotiations between Boots Management Services and the Pharmacists’ Defence Association Union (PDAU). Read story
Four day week at Microsoft Japan boosts productivity by 40 percent
Workplace Insight: Microsoft Japan has announced the results of its four day work week trial, and claims the move increased productivity by almost 40 percent. Read story
Govt ruling out dashboard timetable ‘extremely disappointing’ – MPs
Pensions Age: The Work and Pensions Committee has labelled the government’s decision not to commit to a published timetable for the rollout of the pensions dashboard as “extremely disappointing”. Read story
Employee benefits strategies to prioritise wellbeing
HR News: More than three-quarters (76 per cent) of UK employers plan to incorporate wellbeing into their benefits strategies, new research from Willis Towers Watson has revealed. Read story
Bosses need to be more transparent about mental health
Corporate Adviser: Senior staff have a critical role to play in addressing issues of mental health in the workplace and need to be more open about issues they’ve faced, according to new research. Read story
Salvus is final master trust through authorisation
Corporate Adviser: Salvus Master Trust has been authorised by The Pensions Regulator, the final existing master trust to make it through the process. Read story
TPR market update: 16 million members saving into a master trust as authorisation concludes
Professional Pensions: The master trust market now represents 16 million memberships and holds more than £36bn in assets, The Pensions Regulator’s (TPR) final master trust market update reveals. Read story
PPF reassures Mothercare pension scheme members
Professional Pensions: Members of the Mothercare pensions scheme can “be assured” that their savings will be protected after the collapse of the merchandiser’s UK business, says the Pension Protection Fund (PPF). Read story
UCU calls 8-day pensions strike affecting 60 universities
Pensions Expert: University staff will walk out at 60 of the UK's higher-education institutions later this month, after a conflict between unions and bosses on pensions and pay failed to reach a resolution. Read story
Government urged to introduce disability pay gap reporting for employers
People Management: Research shows disabled workers earn 15 per cent less than other staff and rate of employment also lags significantly. Read story
Worcester Bosch signs Time to Change Pledge as part of ongoing mental health strategy
Employee Benefits: Boiler manufacturer Worcester Bosch announced yesterday (4 November 2019) that it is supporting the Time to Change Employer Pledge as part of its mental health strategy. Read story
Employees at Mayfair club 5 Hertford Street vote for strike action over pay
Employee Benefits: Kitchen porters working at exclusive private members’ club, 5 Hertford Street, have voted unanimously for strike action in a dispute over pay, following a 90% turnout. Read story
Caring responsibilities lead to 47% reduction in women’s pension savings
Employee Benefits: Being unable to work due to maternity leave and taking time off to raise a family results in a 47% reduction in women’s pensions compared to men’s; this is considerably higher than the 28% reduction in pension pots caused by the gender pay gap, according to research by Now: Pensions. Read story
Four-fifths of British employees continue to work when sick
Workplace Insight: A new study conducted by Love Energy Savings claims that more than 80 percent of British employees still continue to work when they are ill or sick. Read story
Eight ways to incorporate mindfulness into workplaces
Cover: Ahead of National Stress Awareness Day tomorrow, Hannah Loveday explores meaningful engagement with mindfulness and meditation practices at work. Read story
Raising minimum wage won't end in-work poverty
HR Magazine: ​Raising the minimum wage should be part of a broader approach to ending in-work poverty, the Low Pay Commission (LPC) has said. Read story
Self-employed taking £115,000 workplace pensions shortfall
Professional Pensions: An individual who moves into self-employment after ten years work will miss out on an additional £115,300 in retirement funds after exiting their occupational pension scheme. Read story
Goldman Sachs offers financial help for fertility treatment to 36,000 employees globally
Employee Benefits: Global investment bank Goldman Sachs has announced a number of enhancements to its benefits programme, including stipends for egg retrieval and egg donation, available to all of its 36,000 global employees effective from 1 November 2019. Read story
Australian national football team to receive 90% pay increase to close gender gap
Employee Benefits: On 5 November 2019, The Football Federation Australia (FFA) and Professional Footballers Australia (PFA) announced a gender neutral four-year collective bargaining agreement, confirming that it will stay in effect until 2023. Read story
Broadstone acquires benefits and pensions consultancy BBS
Employee Benefits: Benefits and pensions consultancy Broadstone Group has made its fourth acquisition in 2019, adding BBS Consultants and Actuaries to its portfolio. Read story
Almost half of 'sandwich carers' struggling mentally
Cover: Those who look after children and relatives too finding situation 'extremely stressful'. Read story
Why January rewards can pack a greater punch than December
Incentive and Motivation: It’s that time of the year again, when shops fill to the brim with Christmas presents, the tinsel goes up and mince pies are rolled out by the dozen. It’s also a time when businesses up and down the country get ready for a month of festivities and the Christmas break. Read story
Member engagement must be 'urgently addressed' as a quarter never review their pension
Professional Pensions: Just under a quarter (24%) of employees never review their pension which shows a lack of engagement when it comes to retirement is a “real issue”, according to Close Brothers. Read story
Employees will work for less if you truly fix work-life balance, say HR leaders
People Management: Finding and retaining employees with key digital or technical capabilities is the most important role for people professionals in the modern economy, according to a panel of influential HR leaders – but it isn’t necessarily money that will give you the edge in holding onto your best talent. Read story
Tiny Hearts Day Nursery prosecuted for auto-enrolment compliance violations
Employee Benefits: Childcare provider Sulouste, which trades as Tiny Hearts Day Nursery, is being prosecuted by The Pensions Regulator (TPR) in relation to failures to comply with auto-enrolment regulations. Read story
UK police staff vote to accept 2.5% pay rise
Employee Benefits: Police staff members in England and Wales have voted to accept an improved pay offer, lifting wages by 2.5% for the year 2019-20. Read story
Chipotle enhances mental and financial wellbeing package for 80,000 employees
Employee Benefits: American fast food restaurant chain Chipotle Mexican Grill is launching an improved suite of mental and financial wellbeing benefits for 80,000 employees in the US and Canada from 2020. Read story
Firm admitted to underpaying hundreds of workers
HR Grapevine: When a worker goes into the office, they expect to be paid for the work that they have done so that they can pay the bills and splurge on extra luxuries that they can afford. Read story
UK absenteeism rises by 10 million days – ONS
Cover: ONS report shows that 141 million days of work were lost due to sickness in 2018. Read story
Schools opting out of TPS urged to ‘shop around’
Pensions Age: Independent schools opting out of the Teachers' Pension Scheme (TPS) have been urged to “shop around” and take advice before choosing a new pension arrangement. Read story
DB transfer values in record fall - XPS
Pensions Age: Defined benefit transfer values dropped from £254,300 at the end of September to £244,200 at the end of October, according to the latest XPS Pensions Group’s Transfer Value Index, representing the largest drop in the index since it was created. Read story
One third of employees don’t check their payslips regularly
HR News: A survey has revealed that nearly a third of UK employees (31%) do not check their payslips regularly. Read story