Norway: New Hybrid Pension Product In Private Sector

The new Occupational Pension Act entered into force 1 January this year. The Act allows private employers to establish a third kind of pension scheme, being a hybrid between defined benefit and defined contribution schemes. As such, the new product is already being referred to as the new “hybrid-scheme”.

Furthermore, there have been changes in the regulations following the Occupational Pension Act. It is now possible for employers to pay a substantial higher amount to the pension plan […]

By | April 4th, 2014 ||

Human Resource Considerations In China

When people think about the reasons they have left an organization or have not accepted an offer with a company, one of the key common factors is perhaps something one might not expect: development, or rather, the lack thereof. Compensation, while certainly important, is often not the deciding factor in the decision to work or stay somewhere.

The same need for development seems to be a growing emphasis as part of the recruiting efforts in […]

By | March 28th, 2014 ||

United Kingdom: Changes To Statutory Payments

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 […]

By | March 21st, 2014 ||