The Trustee Directors have recently agreed a Rule change with the Association (APHC), the Federation (SNIPEF) and the Union (Unite). The rule change means that for the period up to 31 December 2018, no Participating Employer can cease to participate in the Scheme or be discharged from their past, present or future obligations under the…
DetailsThe Trustee has finally received Scottish Counsel’s opinion on the section 75 employer debt calculation methodology. The Trustee is reviewing Scottish Counsel’s opinion and aims to share the details with all the affected employers as part of a consultation on the calculation methodology that will likely begin in February 2018. The consultation is likely to…
DetailsThe Scheme has today sent by recorded delivery letters to employers who have participated in the Scheme and according to the Scheme’s records have triggered a section 75 employer debt. If you receive a letter and require addtional information please get in touch with the Administration Team for support. Or if you disagree with the…
DetailsThe Pensions Regulator has come across a number of instances where employers had agreed to opt staff out of a workplace pension before they’d been enrolled. Whether your intentions are to make things easier for your staff or avoid paying into their pension scheme, the law is the same. They can’t opt out before you…
DetailsThe Plumbing & Mechanical Services (UK) Industry Pension Scheme (the “Scheme”) has recently completed a buy-in with Legal & General. This involved exchanging nearly £570 million of the Scheme’s assets, primarily government and corporate bonds, along with cash raised by selling a small amount of UK equities, for a bulk annuity policy from Legal &…
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