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Found 8 results

  1. Is there anybody from the Tamil background?
  2. I am looking at moving to Melbourne with my Fiancé in jan/feb 2012, i have just completed my A+ce training (A Microsoft certification) and currently studying MCITP on Servers (MCSE) I've been working for a company called BIS who provide data centre solution and service desk support for large and small companies. I myself have been more involved in te 1st line support more than the networking side of things, but have had my some training in diagnosing network faliures and reporting them to providers such as Telstra. Are there any companies within Melbourne which are able to provide any insight into the best way to contact/apply to companies in Melbourne. I am only looking at working for a maximum of 12 months as i will be moving back to the UK to get married for family, but if i Love the country I will be planning on moving back. Any help is much appreciated. Regards. Dean.
  3. Another knockback, looking for a job, looking for a girlfriend, it's always the same reply. If only I was not English he would not say 'he is sorry that I have a good background!.
  4. Hi, I have applied for a skilled migration visa to Australia under subclass 175 and recently I have provided them with my Police Clearance, Job Description and Medical Reports as asked by DIAC. Today, from work I got to know that a company named hireright was enquiring about my employment details. Then I did some research online and found out that hireright is a company who performs the background screening for companies who want to hire. Hence, could it be for Australian immigration? Or it was my new employer? It has been one month since I've joined my new employer already so why would they be needing those information now? It would be great if anyone can help me on this. Thanks.
  5. Hi there, sorting out my 457 visa just now .... coming from scotland where do i get the correct police background check from as the acpo wesite only seems to cover emgland, wales and northern ireland !!
  6. Dear all About to apply for a working holiday visa. Have a minor offence in the past >5 years ago and was sentenced to pay a fine (not prison). If granted a VISA and I choose to go to Australia and apply for a job, is there any way that the employer can find out my criminal background? For example when he/she's checking my visa in VEVO (online visa verification) Does he/she only get info that the I'm entitled to work in Australia or does she get "all" the info i.e criminal background etc. I will be 100 % honest when applying for the VISA, that's why I'm wondering. Many thanks and best regards
  7. Guest

    DIAC and TRA Background Checks

    hi all im starting to apply for my PR for Oz on my own, im wondering if anyone on this can tell me how in detail do DIAC and the TRA check your work references?, i have no problems with mine, but i would like to know if they contact them all?, also could anyone tell me can DIAC access your tax details from your country?, im a citizen of Ireland but now reside in England, and have been self employed in England for 2 years and all is clean, All is clean in Ireland too, but i was working for cash at one stage, and was not paying taxes for a while, My police cert would also be clean, it would be great to know, if they can probe into your tax records? Cheers
  8. Original link : The death of final salary schemes? - Investors Chronicle Here is the content: The UK pensions landscape has for years been characterised by a 'great divide'. On the one hand sit employees of large companies or the public sector with gold-plated defined benefit (DB) schemes, from which they will receive a guaranteed retirement income linked to final salary. On the other hand employees in inferior defined contribution (DC) pension schemes have no guarantees; their retirement income is dependent on the fortunes of financial markets. In the private sector at least, many more will soon be exposed to that fate. Already, many private sector DB pension schemes have closed to new entrants, and the most recent downturn is only expected to hasten the decline of those that remain. Companies say factors such as increasing longevity and tighter regulation are making it difficult for them to keep future liabilities under control. The National Association of Pensions Funds predicts that 52 per cent of DB pension schemes currently open to new members could yet close due to the financial crisis. This is equivalent to the closure of 1,000 UK private sector schemes. According to the NAPF's findings, over the last five months, the likelihood that employers will make changes to their scheme has increased significantly. Get out now? Should members view the uncertainty around the future of final salary schemes as a signal to transfer out? The answer is that getting out is unlikely to make much financial sense. The winding up of DB schemes could mean a big loss in a DB saver's potential pension benefits, as well as a transfer of investment risk from the employer to the individual. Mike Morrison, head of pensions development at Axa Winterthur Wealth Management, explains: "These individuals will presumably have to take out a DC alternative, and have to work out a level of contribution and a risk profile to project forward to the level of benefit that they would like to get at retirement. All of which could be ruined by a fall in the markets just prior to retirement." Besides, when a DB schemes close - either to new members or to existing members - the law requires the employer to make sure there is enough in the kitty to pay the pension benefits accrued to date. If the employer goes bust, the Pension Protection Fund (PPF) picks up the tab. Pension safety net The PPF will provide two levels of compensation. For someone who has reached their scheme's normal pension age or, irrespective of age, is either already in receipt of survivors' pension or a pension on the grounds of ill health, 100 per cent compensation will be paid. For anyone below the scheme's normal pension age, the fund will pay a 90 per cent level of compensation of the pension accrued before the scheme entered the PPF assessment period. Robin Ellison, former chairman of the NAPF and a senior partner at lawyers Pinsent Masons, says that it is possible that the 90 per cent protection could be reduced if the economic crisis leads to large numbers of schemes relying on the PPF. However he believes that people who are in DB schemes still have much better overall protection than anything else they can invest in. If an employer has been declared insolvent and the pension scheme has subsequently passed through the PPF assessment period, which usually lasts for between two and three years, the PPF will value the scheme in a completely different manner to that of a traditional pension fund. The part of compensation that is derived from pensionable service on or after 6 April 1997 will be increased by the PPF each year in line with the Retail Price Index capped at 2.5 per cent, which could result in a lower rate of increase than the original scheme would have provided. Compensation paid is subject to an overall cap, which, as of April last year, equates to £27,770.72 at age 65. The cap will be adjusted according to the age at which compensation comes into payment. Current compensation cap factors can be found on the PPF's website. Endangered species Given that employers running DB schemes are under increasing financial pressure to close these schemes and provide alternative pension arrangements, will there be a massive exodus from DB schemes? Tom McPhail, head of pensions research at Hargreaves Lansdown, says for now there is enough money, but most schemes are in deficit. "The aggregate deficit is circa £190bn, with only around 10 per cent of schemes in surplus - so the longer the downturn goes on, the more likely it is that employers will look to negotiate reductions in benefit structures such as removing inflation proofing and increasing member contributions." According to Mr Ellison, the real question is the degree of risk in a DB scheme, which while it is not nil, is still relatively low. "Also even if there is a failure, it is virtually unheard for there to be a total collapse. Most people would get 70p in the pound or 80p in the pound, even if the PPF did not exist." Those lucky enough to be in a DB scheme may want to think twice before waving goodbye to these benefits. Mr Ellison says: "Unless they are keen on investment decision making, and are prepared to take a loss on the level of their pension, they should reflect very hard on transferring out of DB. They are sacrificing an employer guarantee plus a PPF support system in exchange for having the freedom of investment." The alternatives Jamie Clark, occupational pensions marketing manager at Scottish Life, says trustees and employers have several options if a scheme is closed to new entrants, future accrual or both. If closed to new entrants, but not future accrual, members could be asked to start paying, or pay more, for their benefits. If the scheme is being closed to future accrual and new entrants, members may be offered a DC scheme instead, which effectively shifts the risk to the members by removing the cost to the employer of the guarantee of a defined level of income in retirement. "DC schemes are reliant on two main things - the contributions paid, in total, by employer and employee and the investment returns achieved," explains Mr Clark. "Some schemes may simply not have enough contributions going in or they may not have suitable investment choices which will mean that there may not be enough to provide the level of income that would have been available at retirement under the DB scheme." Alternatively, members may be incentivised by way of a cash sum or an increased transfer value from the employer to transfer out of a scheme where the funds held are insufficient to provide a full transfer value of their benefits. The risk here is that the top-up to the transfer payment, or cash offered, could be far less than the actual value of the benefit being given up. While shifting from DB to a DC typically means greater costs and the lost of a guaranteed level of income at retirement, there are some circumstances where switching might make sense. Flexibility could be one motivation for switching over, according to Ashish Kapur, head of European Institutional Solutions for SEI, a global provider of pension fund solutions. For example if an individual is a smoker and their company pension does not offer a smoker's annuity at retirement, they might then wish to opt for a private pension which does have this option. This could result in a higher retirment income. Alternatively, if an individual has the desire to choose and control investments going into their pension fund, they might choose to switch from a DB scheme to a self-invested personal pension (Sipp). Mr Ellison, however, advises that this should only be considered by individuals who have other income, are relaxed about accepting investment risk and have a pension pots of around £150,000 or more. There is, however, no blanket answer that applies to all schemes, as Mr Kapur explains: "Each final salary scheme is in a different situation and the decision to transfer out or not should be based on the reasons why the scheme is closing. If the employer is in trouble, then removing your money might be a consideration. However, if an employer is purely setting up a DC scheme to better manage future risk but is still willing to make the same level of contributions, then chances are that the scheme will still be reasonably well funded. Just because a DB scheme is closing down, does not necessarily mean bad news - you need to take it from an employer by employer perspective."
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