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 to the Scheme in the short-term in the same way as they do currently.
Discussions are continuing. We will issue further updates once we have more information, likely to be mid-May.
Please note that withdrawing all your employees from the Scheme while it remains open would trigger an employer debt, which could have serious financial consequences for your business. Further information on employer debts can be found here.
The Trustee and Constituent Organisations will do all that they can to reach agreement in time to allow the closure to go ahead on 30 June 2019.
