You will find new updates for participating employers here
After over 40 years of providing good value low cost pensions to the UK plumbing industry, it has been decided that Plumbing Pensions will close to future benefit accrual from 30 June 2019. This means that no-one will build up any new pension benefits in the Scheme after 30 June. Plumbing employers will need to…
The Trustee and the Constituent Organisations that manage the Scheme have considered the consultation feedback but have not yet reached agreement on the next steps. This means that the Scheme may not close on 30 June 2019. If the Scheme does not close on 30 June 2019, employers and employees will need to continue contributing…
We have decided to run Employer Information Events this year on the following dates: Edinburgh – Friday 31 May Belfast – Monday 10 June Manchester – Tuesday 11 June Further information can be found here and you can register your attendance here.
The first employer debt estimates will be issued next week (from 4 February 2019). This is a week later than planned because the Actuary has taken into account all employer and member updates notified to us in recent months to ensure debts are fair and accurate. Debt estimates will be issued in phases between 4 February…
The Trustee Directors have recently agreed a Rule change with the Association (APHC), the Federation (SNIPEF) and the Union (Unite). The rule change extends the period to 30 June 2019 when no Participating Employer can cease to participate in the Scheme or be discharged from their past, present or future obligations under the rules without the…
Employer feedback supported the proposal to close the Scheme to future accrual. The Trustee has sent employers a booklet about the proposed Scheme closure consultation and important actions that employers must now take. It is important that these documents are reviewed and the necessary steps taken. Further information can be found here. Employers have until 7…
As a result of the consultations about closing the Scheme to future accrual, employers can no longer request a period of grace. Please get in touch with the administration team if you think you are going to have an employment cessation event which could trigger a section 75 employer debt in the near future.
The Trustee has sent employers today a short booklet about a proposal to close the Scheme to future benefit accrual. Please respond with your views on this important decision by 16th September 2018. The Trustee wants to hear from as many employers as possible. Please get in touch with the administration team if you have…
The Trustee has posted today its response to employers following the 2nd employer debt consultation. The response includes the next steps, the process to calculate employer debts and expected timescales. Please get in touch with the administration team if you have any questions or comments.
DWP has published its White Paper on protecting defined benefit pension schemes. The government doesn’t intend to make any changes to the employer debt provisions for multi-employer pension schemes because: if it made changes to help the Plumbing Pensions Scheme it would apply to all 1000 last man standing multi-employer schemes; it is not willing…
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