Pensions (Institute and Faculty of Actuaries and Consultation by Employers – Amendment) Regulations 2012 come into force
Implementation date: 6 April 2012
The Regulations amend the Occupational and Personal Pension Schemes (Consultation by Employers and Miscellaneous Amendment) Regulations 2006 (SI 2006/349). The amendment provides that certain members of occupational pension schemes must be consulted before the rate at which their pensions are increased can be changed. However, it also provides that no such consultation has to be carried out if that change is beneficial or neutral for the member. The Regulations can be viewed on the UK legislation website.