April has always been the month in which the majority of statutory payment rates are amended, but the Government recently decided that the annual uprating of a week’s pay and the maximum compensatory award for unfair dismissal, which historically have occurred in February, should also be moved to April.
The old and new rates of the affected payments are set out below.
Maximum amount of a week’s pay
1 February 2013 – 5 April 2014: £450
6 April […]
“GroKo” is the new buzzword in German politics. It stands for “Große Koalition” or Grand Coalition, the new German government composed of the Christian Democrats and the left wing Social Democrats. In the general elections of September 2013, the previous government of Chancellor Merkel lost its majority in the German Federal Parliament (the Bundestag). The liberal party (“FDP”), which formed the previous government with Chancellor Merkel, suffered a tremendous defeat and is no longer […]
The Act provides for both a single insolvency priority order for underfunded schemes where the employer is solvent at the date of wind-up and a double insolvency priority order for underfunded schemes where the employer is insolvent at the date of wind-up. It should be noted that for a scheme with a number of participating employers, all of the employers must be insolvent for the double insolvency priority order to apply.
Single insolvency priority order
The […]