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Transparency on parental pay

ABI insurance and long-term savings members have committed to make information on parental pay policies transparent and easily accessible on their public websites. This is a voluntary initiative demonstrating our industry’s commitment to supporting and welcoming working parents and championing inclusion.

Over 21 ABI members and platform members have signed up to the first wave of the initiative and they are listed below. Specifically the ABI member firms have committed to publish:

  • the contractual pay and leave offered to new mothers /new fathers / primary adopters / other parents
  • the contractual pay and leave offered for those wishing to take parental leave or Shared Parental Leave
  • any qualifying period for contractual leave and pay offered to new parents
  • any repayment conditions if the parent does not return to work.

We are proud to see many ABI member firms further supporting working parents by equalising the pay offered for maternity and shared parental leave, supporting people returning from parental leave with a phased part-time return at full pay and offering paid time off or flexible working arrangements to support those undergoing fertility treatment.

Minister for Women, Victoria Atkins MP, said:

"Publishing parental leave options allows women and men to make informed decisions about work, and how they can balance it with being a parent. I'm delighted that ABI members are leading the way by making their policies fully transparent.

“Earlier this year, we launched our Roadmap for Gender Equality, which includes plans to consult on increasing transparency around parental leave and pay policies. Working alongside initiatives like this, we can make a real difference for parents around the UK."