John Lewis makes changes to its gold-plated final salary scheme January 30, 2014 JOHN LEWIS is set to make cuts to its generous pension scheme, one of the few non-contributory final-salary schemes left in the country. The department store group, which also owns Waitrose supermarkets, launched a review of its pension scheme in March last year after revealing that the deficit had ballooned to £840m. The draft proposals [...]
Bank salaries jump to cancel out bonus cap January 23, 2014 EUROPE’S bank bonus cap will not bring down payment to staff, as lenders will simply increase fixed salaries to compensate, ratings agency Fitch said yesterday. Instead the bigger effect of the raft of incoming regulations will be to drive up banks’ costs overall, forcing them out of low-margin businesses. “Compensation costs of five large European [...]