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…Details
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…Details
The government has released the final regulations for the new Deferred Debt Arrangement easement that comes into effect from 6 April 2018. In essence the easement allows an employer to exit the Scheme and defer the section 75 employer debt that would have otherwise been triggered. Employers who use this easement will remain responsible for…Details