Our company is in the process of being bought. How is this going to affect our group pension scheme?
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Will we have to move to the scheme offered by the company acquiring us or are we allowed to continue our own independent scheme?
andrewt
2 years ago
Expert Financial Adviser Answer
James Brooke
answered 1 year ago
This will depend on the type of scheme that you have at the moment and the type of scheme that the company buying you offers.
More details of your situation are needed to answer this question correctly, but in general terms the new company cannot breach your contract of employment and cannot make you worse off that you would have been had the situation not changed.
It is particularly important to know if you are referring to a group personal pension scheme or some kind of an occupational group scheme.
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More details of your situation are needed to answer this question correctly, but in general terms the new company cannot breach your contract of employment and cannot make you worse off that you would have been had the situation not changed.
It is particularly important to know if you are referring to a group personal pension scheme or some kind of an occupational group scheme.