The employer ‘lock-in’ rule prevents employers from ceasing to be a Participating Employer of the Scheme without Trustee consent while the rule is in place. The Trustee and the Constituent Organisations have recently agreed to extend the employer lock-in rule by 12 months to 30 June 2023. A new Deed of Amendment to formalise the change is being prepared and will be available to see in the employer portal in due course.
It is hoped that future decisions on whether to extend the lock-in rule can be taken by the people appointed under the new governance structure. The Trustee and Constituent Organisations have agreed to a 12 month rule extension because it is taking longer than expected to implement the governance changes.
If you have any questions about the lock-in rule, please get in touch by calling: 0131 556 90 90 or by emailing: employersupport@plumbingpensions.co.uk
