The government has released draft regulations to provide employees with greater control over their work scheme pensions.
Pensions Minister, Stephen Timms, announced changes in the regulations requiring employers to consult with active and prospective members, and their representatives, on significant changes to their occupational or personal pension provision. The Department of Work and Pensions (DWP) has issued a consultation document, with the requirements aimed at employers with more than 150 employees from A-Day, employers with more than 100 employees, the following year and employers with more than 50 employees in 2008. The DWP says consultation on these draft regulations will run until 26 August and...
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