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15/10/2008European HR news roundup - October 2008

Our latest roundup of news from the Federation of European Employers (FedEE).

(Page 2 of 5)

Spain: Voluntary repatriation scheme

The Spanish government has approved a voluntary repatriation scheme for non-EU citizens who are currently unemployed.

The scheme will provide an immediate payment equal to 40 percent of the maximum unemployment benefits for which they qualify, followed by the balance of benefits once they have returned to their home state. Those who sign up must undertake not to return to Spain for at least three years, although they will be guaranteed the reissue of work and residence permits once that period has expired.

It is not yet clear whether such individuals may still be entitled to gain entry to other EU member states and therefore have the right to cross back into Spain on short visits using a Schengen visa.

United Kingdom: 28 percent of Defined Benefit (DB)  schemes remain open

Results from the latest survey of UK workplace pension provision have just been published by the National Association of Pension Funds. These show that although 28 percent of defined benefit schemes remain open, one-third of trustee boards operating such schemes are considering either switching to a defined contribution structure or taking austerity measures.

Pension funds continue to diversify their portfolios with a sharp reduction in the proportion invested in UK equities. Between 2006 and 2008 there was a rise from 27.7 percent to 31.2 percent in the proportion of funds held in fixed-interest assets.

The average contribution level for defined contribution schemes amounts to 11 percent from employees and 7 percent from employers. The average size of an individual saver's fund is GBP 13,500.

OTHER EUROPEAN NEWS IN BRIEF

Bulgaria:
Discussions on a wide range of employment-related issues took place recently between BSP, the principal party in Bulgaria's coalition government, and both sides of industry. Concerns were expressed about responsibility for funding future health and social security provisions. The finance minister, Plamen Oresharski, revealed that in the draft 2009 budget the ratio of contributions was 8:10:12 between employees, employers and the state. Unions pressed for an increase in the minimum wage next year above the planned rate of BGL 240 (EUR 122.72 euros) per month, whilst BSP agreed to bring forward a new bill on the settlement of labour disputes.


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