New regulations mean more auto-enrolment flexibility for average-salary pension schemes and hybrid pension schemes
Employers must satisfy their automatic enrolment duties by auto-enrolling their workers into a qualifying pension scheme. However, until now, average-salary pension schemes could only be classified as this type of qualifying pension scheme if, among other things, they revalued active members’ benefits by a minimum amount. Regulations that came into force on 1 April 2014 give more flexibility in the way in which this revaluation can be provided for an average-salary pension scheme to be a qualifying pension scheme for auto-enrolment purposes…
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