Government issues guidance on pension scheme closures

The
Government has issued new draft regulations to ensure assets are distributed
fairly when pension schemes are wound up.

The
proposed new rules could apply to final salary schemes as early as next year.

Tim
Keogh, a partner a HR consultants Mercer welcomed the move.

"It’s
encouraging to see a new sense of urgency in an area where we had feared more
dithering," he said.

"The
Government is right to push future pensions higher up the priority list.  This way, at least everyone is likely to get
something after a wind-up."

By Ross Wigham

www.mercer.com

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