Q&As

Does an employer have to consult over the closure of a contract-based pension scheme?

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Published on LexisPSL on 12/11/2020

The following Pensions Q&A provides comprehensive and up to date legal information covering:

  • Does an employer have to consult over the closure of a contract-based pension scheme?

Does an employer have to consult over the closure of a contract-based pension scheme?

Subject to certain conditions, employers are required under sections 259–261 of the Pensions Act 2004 and the Occupational and Personal Pension Schemes (Consultation by Employers and Miscellaneous Amendment) Regulations 2006 (the Pension Consultation Regulations), SI 2006/349, to consult with members or their representatives before making certain 'listed changes' that affect occupational or personal pension schemes. This is discussed in Practice Note: Pension consultation requirements.

In summary, this means that employers must consult if:

  1. they employ in Great Britain at least 50 employees

  2. they are not an excluded

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