As we look forward to the New Year, we anticipate the following employment law developments:
December 2014 to May 2015
- The introduction of the new health and work assessment and advisory service will be phased in, offering state-funded occupational health assistance for employees, employers and GPs.
January 2015
- Proposed rules on bonus clawback will come into force as amendments to the Remuneration Code, which is applicable to regulated companies. The new rules provide that past awards for variable remuneration (e.g. a discretionary bonus) may be adjusted (i.e. 'clawed back') to refl ect new information about the underlying risk (including evidence of poor risk management). The rules apply to any variable remuneration awarded on or after 1 January 2015 and for at least seven years from the date on which the variable remuneration is awarded.
April 2015
- The new system of shared parental leave will be available to parents of children due to be born or placed for adoption on or after 5 April 2015. Under this new system, after the mother has taken the first two weeks of compulsory maternity leave, the parents will be able to choose how they share the care of their child during the remaining 50 weeks of leave.
- Changes to adoption leave and pay will give adopters rights comparable to those of birth parents. The statutory adoption leave will no longer have the 26-week qualifying period, and adoption pay will be brought in line with maternity pay, which will be 90 percent of normal earning for the first six weeks.
- Parents will be entitled to take unpaid parental leave up until their child's 18th birthday (currently fifth birthday, unless the child is disabled).
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.