UK: New statutory benefit and minimum wage rates confirmed

The national minimum wage increases have been confirmed: the hourly rate for those aged 25 or over will be £7.50 from April 2017. The Department for Work and Pensions has confirmed that, from April 2017, statutory sick pay will increase to £89.35 per week and the flat rate statutory maternity/paternity/shared parental pay rate will be … Read more

Thailand: Increase in minimum wage

Thailand’s nationally set daily minimum wage of 300 Baht (approximately US $9) is likely to change at the end of 2016. The Central Wage Committee has recently announced increases in the minimum daily wage for 69 of the 77 provinces effective 1 January 2017. The increases vary between 5 and 10 Baht per day (approximately … Read more

UK: Government announcements – workers’ rights post Brexit, employee representation on boards, employment of foreign workers, and review of modern employment practices

At the Conservative Party conference, Theresa May announced plans to repeal the 1972 European Communities Act, which gives direct effect to EU law in the UK, and to transpose all existing EU laws into domestic legislation. She also promised that "existing workers' legal rights will be guaranteed" during her premiership. The conference speeches also built … Read more

China: social insurance for inter-regional employees

Companies conducting business across China may face problems paying social insurance premiums for employees working outside the locality where the company is registered. We explain the problems below, and provide best-practice recommendations. Social security payments for interregional employees Employers in China must contribute to various social insurance funds for employees. These funds include aged pension … Read more

Singapore: Compliance checks – employment passes

The Singapore government has recently raised the salary threshold for Employment Passes. Companies have been given a lead time to comply; however employers should take steps now to ensure that it is able to meet the new threshold, as well as existing application requirements, ahead of the effective date of the change. Read more

UK: PRA Crack-down on Buy-out awards

The Prudential Regulation Authority (PRA) has published its latest policy statement on remuneration, focussing on buy-out awards granted to employees who move between banks, building societies and PRA-designated investment firms, including UK branches of non-EEA headquartered firms. The new rules will apply to buy-outs agreed from 1 January 2017. Policy statement PS26/16 The policy statement … Read more

UK: BIS Select Committee launches Corporate Governance Inquiry

The Business, Innovation and Skills ("BIS") Select Committee announced on Friday that it is launching an inquiry into corporate governance, focussing on executive pay, directors duties and boardroom composition, including employee representation and increasing the number of women in executive positions. Looking at executive pay in isolation, the inquiry follows a series of developments over … Read more