Today the Devonshires Employment Blog brings you a brief pensions update.
The Government is considering introducing new provisions regarding multi-employer pension schemes. When an employee who is an active member in a multi-employer pension scheme ceases to be employed, the new provisions would mean that:
- A section 75 debt will not be triggered if a group guarantee is put in place.
- The current 12 month grace period given to employers, when they inform the trustees that they intend to employ an active member in the scheme, may be extended to 24 or even 36 months.
Regulations dealing with the above are expected in October 2011.
Please post any questions or comments regarding this scheme below.