Mr Wicks today announced the publication of a consultation document on the requirements for pension provision where there has been a business transfer to which the Transfer of Undertakings (Protection of Employment) Regulations apply – better known as the TUPE Regulations.
Announcing the requirements, Mr Wicks said:
"These regulations provide the final detail of the requirements for employer pension provision which we set out in the Pensions Act 2004. Our proposals, which have been widely welcomed, will ensure that for the first time employees with access to occupational pension provision prior to a business transfer will have a prescribed level of employer pension provision afterwards too."
The consultation period will run until 21st January 2005. Depending on the response to the consultation, the Government will be seeking to lay the Regulations for implementation on 6th April 2005.
