As an employer a company in liquidation may have set up and operated a pension scheme for the benefit of employees as liquidator the official receiver may have to undertake certain tasks in relation to the scheme to enable it to be wound up and to enable the former employees to receive the benefits to which they are entitled. The companies involved in the operation of occupational pension schemes were placed into provisional liquidation by the high court they include fast pensions ltd which is the sponsoring . These employers schemes may still be able to enter an assessment period see section 128 of the pensions act 2004 most formal insolvency proceedings are covered with the main exception being a members voluntary liquidation. In these schemes the money is not typically invested in an external pension scheme and the retirement income offered has no bearing on how contributions have performed over time instead an agreed amount is paid by the company upon the employees retirement. Pensions analysis following carillions entry into compulsory liquidation what happens now to its various pension schemes and the 27500 scheme members anne marie winton partner and aneliese sweeney associate at arc pensions law llp explain the likely next steps
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