Members in wind-up given greater protection - Pickering part 5

Members of schemes which move into wind-up will be given greater protection if they are close to retirement age, and members' assets can be moved into either stakeholder or money purchase schemes, recommends Pickering. Although there is little detail on handling wind-ups, Pickering suggests a new priority order be created to protect the benefits of individuals nearing retirement age as they are often the people most penalized and last to receive any assets - if any are left - when a scheme is wound-up, providing they do not object. Anyone who is ten years or less from normal retirem...