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New Employment Regulations

Regulations that could affect your business


Payroll News - Employment Update

 

There are a host of new employment related regulations comming into force on April 6th 2010.  This is a brief summary of those regulations likely to affect your business.

 

FIT NOTES - these replace sick notes issued by GPs and will state what the worker can do rather what he or she is prevented from doing.

 

PENSION DATES - the date from which the individual can draw the state retirement pension will not necessarily fall on a womans 60th birthday. For example, a woman who who reaches age 60 between 6th April 2010 and 5th May 2010 will have a state pension date of 6th May 2010. This also affects the payment of the employees NI cotributions.

 

NI CONTRIBUTION YEARS - individuals who reach state retirement age only have to accumulate 30 full years of NI contributions or credits to gain a full state pension.

A single year of contributions will count towards the state pension. Until now a person had to accrue at least one quarter of their working life (about 11 years for a man,10 for a woman) to be entitled to any state retirement pension. Each year of NI contributions will be worth roughly £3.20 of weekly pension at current rates. It will be essential to accurately record the NI number of every employee, so that each individual can collect their pension entitlement when they retire.

 

HOME RESPONSIBILITY CREDITS (HRP)- will be given on a weekly basis. This will allow the HRP credit to be combined with actual NI contributions to make up a full year of NI credits. HRP credits are given where a person stays at home to look after a child and claims child benefit.