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Date: 28/08/08 
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Inflation

Retail Prices Index

June 4.6%
May 4.3%
April 4.2%

Source:
Office of National Statistics

Pay Deals

Average pay settlements to May 2008 (exc. bonuses)

Private Sector 3.8%
Public Sector 4.0%


Source:
Office of National Statistics

employee rewards & benefits news

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23-Jun-08 11:34 [Pay and Reward]
Unison agrees health worker pay-deal
Workers in the UK's health service have agreed a multi-year pay deal that will see staff receive a 2.75 per cent increase in the first year.

However, the public sector union Unison has warned that if inflation continues to rise, a built in clause will be triggered which will lead to talks being re-opened.

The deal has also established a new minimum wage for all NHS staff of £6.77 per hour, which is 18 per cent higher than the statutory rate.

"We put the government on notice that we would expect them to respect any findings of the pay review body and ensure that living standards of health workers do not fall," said Mike Jackson, Unison senior national officer and lead negotiator.

He added that the inflation will be monitored closely and a pay-deal will be re-negotiated for 2009-10 if the need arises.

Josie Irwin, head of employment relations and Royal College of Nursing lead negotiator, added that new nurses entering the profession will further pay improvements.

Unison is also balloting nearly 900,000 local government members across the UK for strike action over below inflation pay offers.

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Final salary benefit pension schemes are to see a greater fall soon, with a growth in scheme closures to existing members as large employers look to lose their remaining liability, it has been revealed. Find out more>
27-Aug-08 [Europe, Middle East and Africa]
European pension timebomb 'is ticking'
By 2060, there will be only two people of working age for each person over 65, putting huge strains on the EU pension economy, it has emerged. Find out more>
27-Aug-08 [Europe, Middle East and Africa]
Latvian pension reform fails to be passed
A referendum held by the Latvian government has failed in its attempt to raise the national old age pension rate, it was reported. Find out more>

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