Case Study
Go-ahead for Scheme Merger
We advised the trustees on the merger of a scheme contracted-out on a money purchase basis with one contracted-out on a defined benefit basis.
Unfortunately, legislation precludes the transfer of protected rights benefits of deferred members, even if members consent and the scheme is being wound up. Following exchange of correspondence with The Pensions Regulator and the giving of appropriate comfort by the sponsoring employer, we were able to advise that the merger could proceed.
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Head of Team - Specialist Solicitors in Further and Higher Education