This Order 2016 clarifies the position in relation to contributions equivalent premiums at the point when contracting-out is abolished on 6 April 2016. It is intended to prevent a contributions equivalent premium payment being made when contracting-out ends and the member remains in the scheme. Administrators and scheme professionals will have clarity in relation to paying (or not paying) a contributions equivalent premium payment when contracting-out ends and the member remains in the scheme.
The CIPP Policy Team has produced a short webcast which looks at what employers need to consider for the abolition of contracting-out of a defined benefit pension scheme on 6 April 2016.
CIPP Policy News Journal
25/04/2016, Page 359 of 453
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