Employment Law
CBI issues mixed response to govt proposals over pension buy-out firms
The Confederation of British Industry (CBI) has issued a mixed response to new government proposals concerning pension fund buy-out companies.
Announced yesterday (April 14th), the plans would see increased protection for workers whose company pension schemes are involved in a buy-out.
The Labour administration intends to allow the pensions regulator to force uninsured firms that buy out companies and their pension schemes to invest enough money to protect members.
Commenting on the development, John Cridland, deputy director-general of the CBI, said: "We have seen lots of welcome innovation in the pensions industry to help businesses meet their obligations to staff, particularly the creation of pension buy-out firms."
He added, however, that the government must ensure it achieves this without "ratcheting up" the regulatory burden placed on firms, which are "struggling to maintain final salary schemes in challenging times".
Events Update
11/02/08
Tougher Penalties for Hiring Illegal Migrants
The Home Office Border and Immigration Agency, in its effort to tackle illegal immigration, has launched a campaign reminding organisations that the immigration system will be changed from 29 February.
Employers need to be aware of the changes to avoid payment of a civil penalty, of up to £10,000, for employing illegal migrants.
18/01/08
Thousands of Illegal Workers Given NI Numbers
It emerged that more than 6500 illegal immigrants got jobs as security guards, including guarding the Prime Minister's car.
Published by Symposium Events Ltd.
© Symposium Events Ltd and Adfero Ltd.