News

Consulting pension scheme members on changes to definition of 'pensionable' salary is on the cards

David Woods, 30 Sep 2009

0ac62c82-0141-6703-09dbc47eff03e4cd-jpg

Employers may be required to consult with pension scheme members if it plans to make changes to their pensions arrangements, according to proposals from the Department for Work and Pensions (DWP).

The new listed change relates to an employer's proposal to "change, in whole or part, the definition of pensionable earnings in the scheme rules, which applies to members or members of a particular description".

The DWP issued a consultation on the amendment, which will close on 18 December 2009.

Further reading

Emily Forrest, associate at Sacker & Partners, said: "Given the increasing strain on resources, a number of employers are currently looking at what goes into the pensionable salary mix. It will therefore be very interesting to see how this proposal ultimately develops. But clearly this is something that employers who are currently considering their options for re-engineering pensionable salary need to be aware of now."

 

0 comments on this article

Your comment

Click here to comment

There are no comments submitted yet. Do you have an interesting opinion? Then be the first to post a comment.

Latest Issue - May 2012

MA Business & Leisure Limited © Copyright 2012, All Rights Reserved