offering scheme to entire workforce could break welfare reform and pensions act 1999
Employers are in danger of breaching an Act of Parliament by offering stakeholder to their entire workforce, according to Steve Bee, head of pensions strategy at Scottish Life. He said companies had been put into an 'invidious and difficult legal position' because the regulations remain unclear. Bee said companies are in danger of falling foul of the Welfare Reform and Pensions Act 1999 when people who already have a company scheme are given access to the stakeholder provider that has been designated by the employer. Under stakeholder, employers were made exempt from regulations preven...
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