 Home Pensions Resources
Consultation by employers on changes to pension schemes
10 October 2008
There are new 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.
The regulations cover employers with more than 50 staff.
Changes to be consulted on include:
- Closure of schemes to existing members.
- Closure of scheme to new members.
- Change of accrual rate, eg 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 contact your Area Organiser.
Contact Details
Pensions section
Ph: 0161 249 2440
Fax: 0161 249 2475
Email: pensions@usdaw.org.uk
 Printer Friendly Page  Email to a Friend
|
