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Moody&#39s looks at downgrading Scottish Mutual and Scottish Provident

Moody&#39s is reviewing its ratings of Scottish Mutual and Scottish Provident with the possibility of downgrading them.
The announcement by the ratings agency follows it decision to review parent company Abbey National also for a possible downgrade.

Moody&#39s says it believes support from the parent company could be reduced and that ScotMut and ScotProv has suffered along with other life companies as a result of the harsh investment climate.
Both life subsidiaries currently have a financial strength rating of Aa3.

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Recording sickness absence cover - thumbnail

White paper — recording sickness absence

The latest figures from the Department for Work and Pensions illustrate that sickness absence is still a major cost to businesses, with an annual bill for sick pay and associated costs to employers of £9bn. This paper from Jelf Employee Benefits looks at the importance of recording sickness absence for any employee health strategy and how this can be carried out in an efficient manner to reduce absence, improve employee engagement and drive up profits.

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