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Transparency on parental pay

ABI members have committed to making information on parental pay policies transparent and easily accessible on their public websites. This voluntary initiative demonstrates our industry’s commitment to supporting and welcoming working parents and championing inclusion.

The second wave of signatories for the ABI-led Transparent Parental Leave and Pay Initiative includes the industry’s professional body - making a total of 32 ABI members and platform members. The initiative accounts for around 3/4 of the insurance market since the campaign launched in 2019.

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.

Charlie Campbell shares how shared parental leave helped his smooth transition into fatherhood

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Case Study from Convex

Supporting Working Parents

 

Transparent parental leave is essential for supporting current talent through the major life change that is welcoming a new child. Likewise, it can be essential for attracting talent considering parenthood.

This is something that our member Convex, also a signatory of our Transparent Parental Leave and Pay Initiative have recognised and embraced. Harmonising their policies to provide the same comprehensive parental leave, however individuals become parents, and communicating these policies clearly.

This video showcases how they introduced an enhanced parental leave offering, launched an engaging campaign to promote its uptake, and collaborated with their charity partners to amplify its impact. This is a great demonstration of their desire to prioritise openness around the leave they offer.

Watch the video

Convex has been delighted with the response, especially the number of employees taking the full 6 months of secondary/paternity leave.

Signatories