At a glance: reward and benefits headlines this week 13-19 December 2019
The headlines you might have missed between 13-19 December.
What does a Conservative win mean for IR35 and employment law?
HR Review: After what has been declared a huge victory for Boris Johnson and a Conservative majority, numerous calls are coming from HR for the Prime Minister to keep his various promises regarding IR35 and making changes to employment law, such as the developments in employee pay and family-friendly rights. Read story
Pensions industry pushes post-election wish list
Corporate Adviser: The pre-election Pensions Bill that was set to pave the way for pensions dashboards and introduce collective DC arrangements is likely to be swiftly revived following last night’s Conservative landslide victory, predict experts. Read story
Now: Pensions Q&A. Charges, performance, admin, tax and trustees
Corporate Adviser: Now: Pensions has been in the headlines for all the wrong reasons in recent years, beset by serious administrative problems and poor performance. But with new owners in the form of Cardano, CEO Patrick Luthi and head of DC Ralph Frank tell John Greenwood there are reasons to be positive. Read story
General election 2019: Tory win bolsters pension schemes bill hopes
Professional Pensions: The Conservative’s pension policies are expected to be implemented in the coming months after yesterday’s general election confirmed a substantial win for the party. Read story
USS expert panel calls for dual discount rate in 2020 valuation
Pensions Expert: The Universities Superannuation Scheme Joint Expert Panel, set up to review the valuation of the scheme, is calling for a “dual discount rate approach” to the 2020 valuation, aimed at distinguishing between past and future accrual. Read story
Most CEOs have no financial incentives around sustainability, research shows
People Management: HR has a vital role to play in influencing effective executive remuneration, particularly on issues of corporate responsibility, say experts. Read story
5% of employees are affected by pension tax allowance limits
Employee Benefits: The lifetime and annual allowance limits that were introduced in 2016 have led some employers to look at alternative options in place of pension contributions. Read story
Four-fifths believe employee experience links to business performance
Employee Benefits: Almost four-fifths (79%) of organisations believe that creating a positive employee experience directly correlates with improved business performance, according to Kincentric. Read story
Breakspear Park hosts Christmas market for 1,300 on-site employees
Employee Benefits: Hemel Hempstead business park Breakspear Park has held a pop-up Christmas market for the approximately 1,300 employees working for organisations with offices based in the complex. Read story
Vitality names Britain's 'healthiest places to work'
Cover: For the seventh year in a row Adidas UK has won first place in the medium-sized category of Vitality's ‘Britain's Healthiest Workplace' study. Read story
UK workers desire more holiday allowance
HR Review: Almost half of UK workers wish they could take more time off work due to the amount of stress they encounter. Read story
‘Hangover days’ just a ‘spin’ on flexible working
HR Review: A co-founder of an employee engagement platform has called “hangover days” simply a “new spin on flexible working” and says they are far from revolutionary. Read story
Nine out of 10 employers support Nest’s ‘sidecar’ approach
Corporate Adviser: Employers are looking at radical new solutions to extend their workplace savings proposition. Read story
Increase in labour costs could spark inflation rise, warn experts
People Management: Employers must ‘focus on productivity’ to ensure sustainable growth after average cost of wages jumps 4 per cent in a year. Read story
54% of employers do not think staff are saving enough for retirement
Employee Benefits: In answer to a new question asked of them this year, more than half (54%) of survey respondents do not feel that their organisation’s employees are saving enough to be comfortable once they exit work, according to research by Employee Benefits. Read story
Newcross Healthcare rolls out flexible pay benefit to 8,000 health workers
Employee Benefits: Healthcare organisation Newcross Healthcare is rolling out a flexible pay benefit that will allow 8,000 health workers among its 9,000-strong workforce to access their pay as it is earned, rather than waiting for a monthly pay date. Read story
Is flexible working the answer to improved employee mental health and productivity?
Workplace Insight: One of Labour’s flagship policies for its 2019 general election campaign was to introduce a four-day week. More accurately, its policy is to introduce a 32-hour week. This brought flexible working again into the media spotlight. Research suggests that flexible working and reduced hours can have multiple benefits, including improved mental health and greater productivity. Read story
A quarter of Brits believe unlimited holidays reduces the amount of sick leave taken
Employer News: Perkbox, Europe’s fastest growing employee experience platform, recently conducted a survey of 1,342 working Brits to reveal opinions surrounding unlimited holidays and the impact that these policies are having on the fight against burnout. Read story
Smart Pension to operate Guernsey AE scheme
Pensions Age: Smart Pension has won a tender to be named as the preferred provider to deliver the secondary pension scheme in Guernsey, which is set to be introduced into legislation in 2020. Read story
Salaries increase as Brexit fears reduce in 2020
HR Review: Salaries are predicted to increase by 3 per cent in 2020 after two years of pay freezes, showing that Brexit concerns may be reducing. Read story
UK not focusing on older employee benefits
HR Review: Under three-quarters of companies are not making provisions for supporting an ageing workforce. Read story
Pensions minister appointed
Corporate Adviser: Guy Opperman has been re-appointed as the minister for pensions and financial inclusion, following last week’s general election. Read story
Breaking: HSBC master trust authorised
Corporate Adviser: HSBC has re-entered the workplace pensions market seven years after exiting it with the launch of a master trust proposition that has received TPR authorisation today. Read story
PPF levy rules 'broadly unchanged' with estimated £45m increase
Professional Pensions: The Pension Protection Fund (PPF) has confirmed its 2020/2021 levy rules and revealed they remain stable and broadly unchained from the previous levy year, expecting an 8% rise in collection. Read story
Nine in 10 say employers should support all aspects of staff financial wellbeing
Employee Benefits: Almost nine in 10 (88%) senior HR professional believe it is an employer’s responsibility to provide support on all aspects of staff financial wellbeing, according to research by Smarterly. Read story
French transport employees strike over pension reforms
Employee Benefits: French transport workers, represented by the Confédération Générale du Travail (General Confederation of Labour (GCT)), are undertaking strike action today (17 December 2019) in an ongoing dispute regarding pension reforms. Read story
C and W Trucking ordered to pay $199,000 in wage violations
Employee Benefits: A contractor for the US Postal Service (USPS), C and W Trucking has been ordered to pay $199,010 (£150,000) for overtime violations and for unpaid health and welfare benefits, after an investigation by the US Department of Labor’s Wage and Hour Division (WHD) discovered it was violating federal law. Read story
Microsoft & PayPal give working parents the ultimate festive gift
HR Grapevine: It’s traditional over the holiday period for companies to thank their employees for a year of hard work with some form of gift or benefit. Read story
Civil servant pension income almost double average UK salary
Pensions Age: The 23 individuals who run UK government departments had an average pension pot of £1,065,522 in 2018-19, new research from the TaxPayers' Alliance has revealed. Read story
Govt faces £1bn pension bill as judges win court case
Pensions Age: The government could be facing a pension compensation bill of up to £1bn after the Supreme Court ruled in favour of part-time judges that were initially denied pensions. Read story
UK falls in ranking for gender equality
HR Magazine: The UK has fallen six places in a ranking of gender equality, with economists warning that it could take 100 years to close the global gender pay gap. Read story
Majority of UK employees feel engaged at work
Incentive and Motivation: A report reveals that the vast majority of UK workers (90%) identify themselves as engaged at their current job, yet one in four (23%) believe they are only productive at work less than half of the time. Read story
Another 100 years to close the global gender gap
HR Review: It has been predicted that it will take another 100 years to close the global gender gap. Read story
London workers actually the poorest in the UK
HR Review: UK professionals working in London are actually the poorest, despite earning the second highest average salary in the UK, due to high living costs. Read story
Majority of workers don’t know where pension funds invested
Corporate Adviser: Three out of four people have no idea where their pension is invested, while nine out of 10 did not know what a ‘default’ fund is, according to new research. Read story
Recruitment agency and managing director fined £10,890 for avoiding workplace pension
Professional Pensions: A Hertfordshire-based recruitment agency and its managing director have been ordered to pay £10,890 after misleading The Pensions Regulator (TPR) over its workplace pension arrangements. Read story
67% have undertaken pensions communications within the last year
Employee Benefits: Employers are responding to the challenge of ensuring staff are saving enough for a comfortable retirement by continuing to open up communications channels around pensions, according to research by Employee Benefits. Read story
Two in five employees have access to flexible working to manage pressure of Christmas
Employee Benefits: More than two-fifths of employees (44%) have access to support and flexible working at Christmas to help cope with the pressure of the festive season, according to research by Benenden Health. Read story
Northern Ireland nursing staff strike at 21 locations in dispute over pay
Employee Benefits: Northern Ireland nursing staff working within health and social care (HSC) organisations, who are members of the trade union Royal College of Nursing (RCN), are undertaking strike action today (18 December 2019). Read story
Govt faces £4bn pension bill as firefighters win case
Pensions Age: The government faces a potential annual pensions bill of up to £4bn after an employment tribunal declared that over 6,000 firefighters are entitled to a return to their pre-2015 pension schemes. Read story
Nest tops ShareAction ESG rankings
Corporate Adviser: Nest has emerged as the leading responsible investment master trust in a review of ESG policies conducted by ShareAction. Read story
Government reintroduces pension schemes bill in Queen's Speech
Professional Pensions: The government will reintroduce the pension schemes bill as part of an “ambitious programme of domestic reform”, the Queen’s Speech confirmed today. Read story
TPR urges trustees to 'engage early and be transparent'
Professional Pensions: Trustees are being urged to engage early with The Pensions Regulator (TPR) during corporate transactions and to be transparent to protect savers. Read story
PPF only needs to hike benefits if member faces poverty risk
Pensions Expert: The European Court of Justice ruling on the Bauer has been described as a “welcome relief” for the Pension Protection Fund, as the lifeboat will only have to up member benefits if the individual is living below the at-risk-of-poverty threshold. Read story
Experts urge government to act fast to fix NHS pensions crisis
People Management: Health and social care secretary promises to review the tapered allowance, but critics say more immediate action to abolish it is needed. Read story
Employees in Aberdeen, Hull and Edinburgh are the richest in the UK
Employee Benefits: Employees who live and work in Aberdeen, Hull and Edinburgh are among the richest in the UK, according to research by CV Library. Read story
CIPHR acquires Payroll Business Solutions
Employee Benefits: UK HR software provider CIPHR has acquired its long-term strategic software partner, Payroll Business Solutions (PBS), it announced on 16 December 2019. Read story
Kingfisher joins Stonewall’s Global Diversity Champions programme
Employee Benefits: Home improvement organisation Kingfisher, which owns B&Q, Castorama, Brico Dépôt and Screwfix, has joined charity Stonewall’s Global Diversity Champions programme in order to promote an inclusive workplace for its 77,000 employees. Read story
California court rules case for reclassification of Uber drivers premature
Employee Benefits: The District Court of the Northern District of California has declined to order ride-hailing organisation Uber to treat its drivers as employees, but has further refused to entirely dismiss the claims, leaving open an opportunity for further consideration. Read story
UK company rolls out period-friendly HR policies
HR Magazine: As research finds women would be more likely to want to work for a company that has a period-friendly policy in place, Intimina UK aims to empower employees throughout their menstrual cycle. Read story