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Date: 20/11/08 
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Inflation

Retail Prices Index

September 5.0%
August 4.8%
July 5.0%

Source:
Office of National Statistics

Pay Deals

Average pay settlements to August 2008 (exc. bonuses)

Private Sector 3.6%
Public Sector 3.6%


Source:
Office of National Statistics

employee rewards & benefits news

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24-Jul-08 11:30 [Pensions]
Wrexham plant to strike over pensions
Close to 300 workers at a power cable company in Wrexham will go ahead with strike action over pensions, the Daily Post of north Wales has reported.

The newspaper said that the Prysmian Cables workforce voted in favour of a walk-out by 127 to 45, resulting in 289 workers striking.

The action was prompted by the company's admission that it was to close its final salary pension scheme, forcing union leaders to consider their options after their bosses instead said they were to switch to a defined contributions scheme.

Regional organiser for union Unite Graham Rogers said: "The strength and depth of the feeling at Wrexham is very strong, workers who have paid for years into this pension scheme are going to lose money from their pensions if this change goes through."

This month, the Guardian reported a possible industrial action ballot after the BBC announced it would be increasing employee contributions even though they had an annual surplus of £275 million.

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People failing to save into their pensions will be reminded by the government to do their best to honour pension schemes, as cutting out payments altogether could spell trouble in later life. Find out more>
New York's attorney-general Andrew Cuomo has urged executives of top companies to forgo their bonuses for the year, it has been revealed. Find out more>

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