Archive for October, 2012

Outlook – September 2012: Share options, other updates

Tuesday, October 30th, 2012

Share Options

As members will be aware we asked those Business Areas where we have recognition (UKIO, PGDS & CP) to raise our anger, with Group, at the rule that was retrospectively applied which prevents employees who cancelled a Share Option in 2008 to participate in the 2012 Option.

However, Group wouldn’t change the rule for the 2012 option but will review in time for the 2013 option.

We are obviously disappointed but discussions are still ongoing.

Other Updates

Unite in Capita – Colleagues in IT Capita have won an incredible victory in stopping their jobs being offshored. After only 10 hours of industrial action short of strikes, Capita agreed to shelve their plans.

Pay Claim – During October we will be holding meetings in all sites to find out what you want to see in next year’s pay claim.

We are also still in discussions with UKIO HR regarding elements of last years claim including the Benefit review and Equal Pay audit.

Environmental Awareness

To increase environmental awareness in the workplace Corporate Property’s environment team will regularly contribute to Unite’s Outlook newsletter. We are planning to inform employees about the company’s key environmental initiatives and provide practical tips on how employees can reduce their energy consumption, increase waste and paper recycling, reduce travel associated carbon emissions and reduce water consumption and taking other steps that make a difference for the planet.

Today almost half of the UK’s carbon emissions come from the use of buildings1 (27 per cent from homes and a further 17 per cent from nondomestic buildings). Without concerted action and without real change in the ways in which we live and work, we won’t achieve our goals.

If you would like to contact the Environment Team with any questions or ideas or, please email: environment@prudential.co.uk.

1 http://www.zerocarbonhub.org/resourcefiles/1101177.pdf

Annuities in Reading

We are currently engaged in two sets of consultations involving changes to Bulk Annuities and Individual Annuities – Servicing.

In Bulks the change involves a loss of approx 11 FTE with a number of people being placed at risk of redundancy and in Servicing some work is moving to Mumbai with 3 people being placed at risk.

We are working closely with the business to ensure compulsory redundancies are kept to an absolute minimum.

We are also holding regular meetings with members in these areas to keep them updated on what we are doing.

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