- Helping members of occupational pension schemes to better understand their benefits.

21st May 2019
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This thread: Auto-enrolment and closure of existing defined benfit scheme. Post No.
07/02/2014 14:48

Post Count: 1
Join Date: 20/01/2014

I have been a member of a final salary pension for 10 years and have been informed by my company they plan to close this scheme as it does not meet the requirements for a qualifying pension scheme within the new rules for workplace pensions.

I do not know why this is the case.

We are being offered 12.5% fixed employer contributions; is this a good enough offer?

Our final salary pension accrual rate is 1/73rd ; is a 12.5% contribution fair based on this accrual rate?

It feels as though auto enrolement in the workplace pension is actual going to make me worse off in my retirement than the final salary pension so how can the governement do this?

We are currently in a consultation period over the closure of this scheme and have a Q & A session coming up next week; would like any advice on what sort of questions I should be asking.

thanks in advance!






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