| answer text |
<p>The legal requirements for employers on certain changes to occupational pension
schemes are detailed in The Pensions Act of 2004. This states that larger employers
with 50 or more workers are required to consult with affected members or their representatives
about proposed significant changes to their pension scheme, including closure, before
implementing the change.</p><p> </p><p>These requirements ensure that scheme members
are aware of the change and the impact on their future pension, and that they have
an opportunity to comment. The Pensions Regulator provides information for employers
on closing a pension scheme to new members or future accruals and winding up a scheme
at their website including detailed regulatory guidance and can be found at <a href="https://www.thepensionsregulator.gov.uk/en/employers/managing-a-scheme/closing-your-scheme"
target="_blank">https://www.thepensionsregulator.gov.uk/en/employers/managing-a-scheme/closing-your-scheme</a>.</p>
|
 |
