The Career Average Pension Scheme launches 1st April 2014.
Employees with 8 years to retirement are unaffected. Those with more than 11 and a half years to NRD you join the new scheme. If you fall in the gap you will transfer to the new scheme at a later date.
Although the new scheme impacts on benefits for employees the changes for employers are limited. Simply, all income becomes pensionable and contributions are based on actual earnings not full time equivalents.
For a copy of our full update contact me on 03331 123456 or use our quote page