News story: Statutory redundancy payments increase

By HM Government

When a business goes insolvent, employees can submit a claim to the RPS for money they are owed, including:

redundancy pay
holiday pay
arrears of pay
statutory notice pay

At the moment, the RPS can pay up to £489 a week for each claim. For example, if someone claims for redundancy pay and statutory notice pay they can get up to £489 a week for each one.

As of 06 April 2018, the amount the RPS can pay is increasing to £508 a week for each claim.

This means that if an individual is given notice of their redundancy on or after 06 April 2018, their weekly pay will be capped at £508. If they were given notice before 06 April 2018, their weekly pay may be lower.

From:: News story: Statutory redundancy payments increase

Will a private company governance code really duck executive pay?

By Gavin Hinks

James Wates has made emphatic statements on the role of executive pay in the forthcoming governance code for private companies. But what do they mean?

The post Will a private company governance code really duck executive pay? appeared first on Board Agenda.

From:: Will a private company governance code really duck executive pay?

News story: Contacting the Redundancy Payments helpline

By HM Government

Due to business improvement work, the Redundancy Payments Service helplines will close at 2pm on Thursday 29 March.

The helplines will reopen at 9am on Tuesday 3 April but will be offering a limited service until Monday 9 April. Fewer phone operators will be available during this period and you may experience longer than usual wait times.

If you are calling for an update on your application, please be aware that we are upgrading our finance system and cannot make any payments until Thursday 5 April. We will automatically begin making payments again on 5 April.

Please wait until Monday 9 April to contact us about an outstanding payment.

We apologise for any inconvenience caused during these upgrades.

From:: News story: Contacting the Redundancy Payments helpline

Gove told financial regulators should get tough on climate risk reporting

By Kevin Reed

UK parliamentary committee calls on environment secretary Michael Gove to push regulators towards enforcing stronger climate change risk management and reporting.

The post Gove told financial regulators should get tough on climate risk reporting appeared first on Board Agenda.

From:: Gove told financial regulators should get tough on climate risk reporting

News story: BHS investigation

By HM Government

A spokesperson for the Insolvency Service said:

We can confirm the Insolvency Service has written to Dominic Chappell and three other former directors of BHS and connected companies informing them that we intend to bring proceedings to have them disqualified from running or controlling companies for periods up to 15 years.

We can also confirm that we have written to Sir Philip Green, also a former director of BHS, informing him that we do not currently intend bring disqualification proceedings against him.

As this matter may now be tested in the Court it is not appropriate to comment further.

The intention to bring disqualification proceedings follows an investigation by the Insolvency Service, an executive agency of the Department for Business, Energy and Industrial Strategy. Leading counsel has confirmed all our findings.

From:: News story: BHS investigation

News story: Carillion: Official Receiver’s update

By HM Government

A spokesperson for the Official Receiver said:

A further 481 jobs have been saved with employees transferring to new suppliers who have picked up contracts that Carillion had been delivering. More than 9,000 employees have now been found secure ongoing employment.

Regrettably we have been unable to find ongoing employment for a further 123 employees who will leave the business later this week. Jobcentre Plus’ RapidResponse Service will provide them with every support to find new work.

Discussions with potential purchasers continue. I am continuing to engage with staff, elected employee representatives and unions to keep them informed as these arrangements are confirmed.

Further information

In total, to date 9,073 jobs have been saved and 1,705 jobs have been made redundant through the liquidation
This information does not include jobs attached to contracts where an intention to purchase has been entered into but has not yet formally occurred
More than 6,400 employees are currently retained to enable Carillion to deliver the remaining services it is providing for public and private sector customers until decisions are taken to transfer or cease these contracts
Further information about rights in redundancy is available on gov.uk

To be notified of future updates from the Official Receiver please register to receive an email alert.

From:: News story: Carillion: Official Receiver’s update