The Department for Work and Pensions has expressed concern at the differences between rules governing short service refunds in trust and contract-based defined contribution schemes. Earlier this year it issued an industry-wide call for evidence on the issue to review whether disparity in regulatory regimes resulted in some employers cutting scheme costs.
Existing rules allow members in trust-based schemes that leave employment within two years to have their contributions refunded. If an employee takes a refund then the employer can leave its contri...
To continue reading this article...
Join Professional Pensions
Become a Professional Pensions Lite Member today
In just a few clicks you can start your free Professional Pensions Lite membership, providing you access to:
- Three complimentary articles per month covering the latest real-time news, analysis and opinion from the industry
- Receive important and breaking news stories via our two daily news alerts
- Hear from industry experts and other forward-thinking leaders
Are you a trustee, investment consultant or in-house pension and benefit scheme professional? You can apply for full complimentary access here
