Employers no longer have to consult with employees when a group personal pension provider is switched, a lawyer says.
Nabarro partner Anne-Marie Winton says the department for work and pensions issued revised guidance on the employer consultation regulations. She explains a change of provider would no longer be a listed change - as long as contribution rates do not change. She told IFAonline's sister publication, Professional Pensions: "There have been a number of queries raised about the operation of the employer consultation regulations and it is helpful that the DWP is aware that it needs to keep its guidance up to date. "This second version makes relatively few changes, but does clarify that empl...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes