Pensions Regulator Publishes Guidance on Multi-Employer Schemes and Employer Departure
16 July 2012 (PLANSPONSOREurope.com) –The UK’s Pensions Regulator has published its updated guidance on multi-employer schemes and employer departures.
The guidance includes updates on the amendments to the Occupational Pension Scheme (Employer Debt) Regulations which came into force on 27 January 2012. These include:
• Introduction of flexible apportionment arrangements: a new mechanism which allows an employer to depart from a multi-employer scheme and without the section 75 debt being due. This includes where the scheme is closed to future benefit accrual.
• Changes to the ‘period of grace’ conditions.
The guidance also covers the factors trustees should take into account when assessing who is responsible for supporting their multi-employer scheme, including the potential implications of recent court cases.
To view the updated guidance go to: http://www.thepensionsregulator.gov.uk/guidance/multi-employer-schemes-and-employer-departures.aspx