New work group. Besides, recent cases showed that, in the absence of a specific system, heads of businesses enjoy contractual provisions that are extremely favorable in terms of pensions compared with others, which is highly unpopular when the government is asking the people to make efforts regarding their pension. This is why the Minister in charge of public participation, Jyri Häkämies, created an independent work group presided by economist Markku Pohjola to revise the government’s instructions in this respect and ensure that the remuneration of the managers of the businesses concerned will remain decent. The group, which will present its report on June 15, should also propose a revision of provisions concerning pensions. Notably, it should review retirement age for the CEOs of public participation companies and the amount of bonuses paid to all employees in the businesses concerned.
re, the crisis led to many debates on managers’ bonuses. Fortum’s scandal is even out-of-place since the company interpreted quite individually the government’s instructions, which led to excessive expenses for bonuses and social contributions because of an unexpected assessment of the pick-up value in February 2008, when the bonus was calculated.
New work group. Besides, recent cases showed that, in the absence of a specific system, heads of businesses enjoy contractual provisions that are extr
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