Government review will examine whether pension age should continue to be linked to life expectancy. Speculation is rife that a new review of retirement age will lead to workers joining the workforce now not receiving their state pension until at least their mid-70s. The study, which will report to the government next May, will be headed by John Cridland, the former CBI boss. It’s a scheduled assessment due to be…
There are some big changes in employment law in 2016, and companies need to be prepared Employment law is constantly evolving, as new rules and regulations come into force, and as such it’s imperative employers are informed and prepared. 2016 will see a number of important changes of which all employers should be aware Pensions State pensions are set to be radically overhauled in April with the introduction of…
The new rules on encouraging staff to ‘blow the whistle’ in financial services firms are a significant development for whistleblowing in general. Firms must promote whistleblowing internally, and nominate a ‘whistleblowing champion’ by 7 March 2016 who will oversee the implementation of whistleblowing policies and procedures which must be in place by 7 September 2016. The changes stem from proposals last October by the Financial Conduct Authority (FCA) and…
Tasting the Freedoms: savers have spent the money or held it in cash The Pensions and Lifetime Savings Association has published its latest wave of research on patterns in retirement following the reforms. Of those adults aged 55-70 surveyed, the majority, 63%, had started to look at how they would take their pension, and 23 per cent had done nothing. Of those that accessed their pension, 18 percent spent…
The recruitment industry is, according to the REC, in rude health! It predicts that in 2016 more than 90% of employers will increase headcount. However, one of the significant external influences that is going to hit the sector this year is the National Living Wage. From April 2016 individuals aged 25 and over will be entitled to receive the National Living Wage of £7.20 per hour, increasing to above £9…
Key points from the January survey: Permanent placements growth quickens Permanent salaries continued to increase, albeit at weakest rate in 27 months Candidate availability remains tight Commenting on the latest survey results, REC chief executive Kevin Green, said: “The jobs market has started 2016 with a bang – our latest data shows strong growth in demand for staff and in permanent placements. Professional service jobs are among those leading…
The Week in Numbers – 14th September 50% – Rise in protection sales reported by LV= in the first half of the year. Total life sales hit £869m, with profits of £12m £8bn – Size of Jupiter’s Merlin fund range. Jupiter’s John Chatfield-Roberts has stepped down as CIO to focus on managing the funds 2.83% – Average interest rate on gross mortgage advances in Q2, the lowest figure on…
When it comes to leaving your job, however tempting the two-finger salute, or the verbal equivalent may be, you should never let your emotions get the better of you. ‘Don’t wait until you’re hopping mad to resign. Do it while you’re strong. And never express your anger to your boss, bide your time and keep it professional,’ advises occupational psychologist Colin Selby. You may have landed the job of…
Employment law changes taking effect in October 2014 The following changes to employment law come into effect on 1 October 2014: 1. The National Minimum Wage (Amendment) (No. 2) Regulations 2014 will increase the various national minimum wage (NMW) rates as follows: The adult rate for workers who are aged 21 and over will increase from £6.31 to £6.50 per hour. The youth development rate for 18 to 20 year…
