Consultation

There are rules which require employers to consult with employees or their representatives when proposing to make changes to their pension arrangements.

They must consult at least 60 days before the proposed date of change.

Changes to be consulted on include:

• Closure of schemes to existing members
• Closure of scheme to new members
• Change of accrual rate, e.g. 1/60th of earnings for each year
• Changes to contribution rates.

The definition of consult is the process of exchanging views and the provision of advice.

If your employer announces that your scheme is to be changed in any way you should contact your Area Organiser at your local Usdaw office.