Pension rights for transferred staff in the private sector

first_imgRelated posts:No related photos. Comments are closed. Previous Article Next Article Pension rights for transferred staff in the private sectorOn 1 Jul 2003 in Personnel Today Staff will be entitled to pension rights when they are transferred betweenprivate sector employers as a result of pension reforms. The proposals mean private sector companies will have to provide new staff,taken on under the Transfer of Undertakings (Protection of Employment) (TUPE)rules, with a stakeholder pension. They will also have to pay contributions ofat least 6 per cent. The change will bring the private sector more closely in line with thepublic sector. John McMullen, national head of employment law at law firm Pinsents,welcomed the new rules announced by pensions minister, Andrew Smith, as part ofhis raft of pension reforms. “It levels the playing field. It reduces the opportunity to useoutsourcing to save costs on the wage bill. Deals will have to be based onfinding efficiencies and best practice,” McMullen said. last_img

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