Chief executive pay in the NHS has stalled at an average of £157,500 as a result of the Government’s salary freeze.
Figures from the Incomes Data Services (IDS) highlighted the end of the long-term trend of high wage growth in NHS boards.
The findings...
MPs’ pay and pensions are being reviewed by the Independent Parliamentary Standards Authority (IPSA).
The Government has given IPSA the power to decide on the remuneration arrangements for MPs, who currently receive a wage of £65,738.
The Authority...
Teachers should have their pay based on their performance in the classroom, according to ministers.
The Education Select Committee has called for a new payment scheme in order to prevent poor teachers from being shielded by a national wage structure.
As part of an effort to raise...
Health Secretary, Andrew Lansley, is backing regional pay arrangements within the NHS, despite anger from unions.
The changes would mean that those working outside of the south east would earn less, as the cost of living is lower. However, unions have hit back, arguing that the plans...
Pay increments in the manufacturing industry have inched up to an average of 2.6 per cent for the three months to the end of March.
According to data from EEF, the manufacturers’ organisation, and JAM Recruitment, wage rises were up 0.1 per cent. However, this is below the long-...
The former Chief Executive of Co-op’s banking division received more than £4 million after leaving the institution.
The compensation payments, including £1.4 million for “loss of office”, were awarded to Neville Richardson. The amount was made up of...
Conditions surrounding the long-term bonuses for Barclay’s top executives have been altered.
Following pressure from shareholders, the bank has changed the terms of Chief Executive, Bob Diamond and Finance Director, Chris Lucas’ payouts.
Under the new...
Changes to salary sacrifice are being made as a consequence of auto-enrolment, which will prevent scheme users from being left out of pocket.
HM Revenue & Customs has confirmed that employees will not be held to the arrangement if they decide to opt out of the pension. They will...
Shareholders at Citigroup have voted against a £9.4 million pay package for its Chief Executive Officer, Vikram Pandit.
More than half were against the proposals, which set out compensation arrangements for five of the bank’s top executives, including Pandit.
...
Salary increments have stayed constant throughout the winter, according to findings from Aon Hewitt.
UK wage increases have remained static at 3.2 per cent over the past six months, despite economic uncertainty in Europe.
The survey, which covers 39 countries, highlights...
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HMRC fails to understand payroll practicalities
At the recent LexisNexis Payroll Year End Conference HM Revenue & Customs (HMRC) provided an update on Real-Time Information (RTI). Although there has been much progress, there are many technical considerations which appear to have been...
Do you have a burning payroll question?
Q In an attempt to prepare for the introduction of Real-Time Information (RTI), we have been looking at our in-house practices with the focus on how we store information on our systems. With this is mind, we have been reviewing the requirements listed under the specific data items for RTI. I note...
Pay awards should be linked to performance and not be based on shareholder votes, according to the Confederation of British Industry (CBI).
In response to the Government’s consultation on investor voting rights, the CBI has argued that transparency of remuneration should be the...
A recruitment agency has been ordered to reimburse more than £1,380 of unpaid wages.
Isis Management Consultancy Limited was prosecuted by the Employment Agency Standards (EAS) inspectorate for withholding wages from seven workers.
The company, along with its...
City investors have made a stand against excessive executive pay.
A group of asset managers and pension fund managers has spoken out against “disproportionate” bonus rises and has called for unwarranted payouts to be clawed back.
The investors said in a...
