Sentence examples for existing pension scheme from inspiring English sources
Simply put, if you're more than 22 years old, earn at least £8,105 a year and have been working for three months or more, you will be automatically enroled into your company's existing pension scheme or one that they put in place.
Following private conversations between Lyons and Parkinson, the government agreed to the permanent continuation of the existing pension scheme (for all staff, not just the union's members), as well as another measure ensuring the continuation of existing industrial relations arrangements for at least 12 months after privatisation.
BHS workers will have the option of moving their pension into the new scheme, receiving a lump-sum payment, or remaining in the existing pension scheme, which will enter the Pension Protection Fund PPFF) and see a 10% cut to existing benefits.
Tthe pensions industry lobbied hard to stop existing pension schemes switching to Nest, calling it "unfair competition".
The Forces Pension Society welcomed Hutton's proposal that accrued rights – for those in existing pension schemes – would be protected.
Millions of members of existing pension schemes will face higher national insurance payments from 2017 at a time when wages will have been stagnant for nearly a decade and living standards are down.
However, he said it was not as good a deal as an existing pension top-up scheme, collected via Class 3 National Insurance.
In October, the Public Services Forum PSFF) agreed a deal that protected the existing pension benefits and current retirement age of 60 in schemes covering NHS staff, teachers and civil servants.
For example, the original proposals for changes to the BBC pension scheme amounted to what one expert claimed was a "pernicious" retrospective reduction to members' existing pension rights.
Under the main proposal, pension scheme members can receive lower future benefits and keep their current levels of contribution or opt to pay an extra 4.5% to maintain their existing pension benefits.
