Your browser isn't supported
It looks like you're using an old web browser. To get the most out of the site and to ensure guides display correctly, we suggest upgrading your browser now. Download the latest:

Welcome to the MSE Forums

We're home to a fantastic community of MoneySavers but anyone can post. Please exercise caution & report spam, illegal, offensive or libellous posts/messages: click "report" or email forumteam@.

Search
  • FIRST POST
    • shaun1952
    • By shaun1952 8th Jul 17, 4:16 PM
    • 8Posts
    • 2Thanks
    shaun1952
    Company pension transfer terms
    • #1
    • 8th Jul 17, 4:16 PM
    Company pension transfer terms 8th Jul 17 at 4:16 PM
    Hi , Would anyone be able to help me with a question about my company pension ?
    My present company took over from my old company about 4 years ago ,our terms and conditions were transferred over .
    The old company works pension scheme was ended and the new company invited us to use their company pension .
    The downside to this was my old company matched our contributions up to 20% max , this present company only gives us a max 5% , so a you can see I ma losing out on 15% of company contributions .
    So the big question is if my terms and conditions were not changed why was my pension terms changed , surely they must have been obligated to match the pension terms also ?
    Thank you for any help
Page 1
    • xylophone
    • By xylophone 8th Jul 17, 4:34 PM
    • 22,432 Posts
    • 12,935 Thanks
    xylophone
    • #2
    • 8th Jul 17, 4:34 PM
    • #2
    • 8th Jul 17, 4:34 PM
    You say
    the old company scheme was ended
    and you
    were invited to join a new scheme,
    If the acquiring company gave you access to its scheme then you became subject to the terms of that scheme which were not the same as those of your old scheme.

    I take it that you were not given any guarantee that the terms of any pension provision would be the same?
    • bigadaj
    • By bigadaj 8th Jul 17, 7:33 PM
    • 9,625 Posts
    • 6,131 Thanks
    bigadaj
    • #3
    • 8th Jul 17, 7:33 PM
    • #3
    • 8th Jul 17, 7:33 PM
    Was there a formal TUPE process undertaken, and have you queried this with your HR?

    It's not unusual for employees terms and conditions to be eroded after a takeover but often a minimum period of typically 12 months where no changes are made.

    However the new company may say that they were just equalising conditions for old staff and new.
    • shaun1952
    • By shaun1952 8th Jul 17, 8:33 PM
    • 8 Posts
    • 2 Thanks
    shaun1952
    • #4
    • 8th Jul 17, 8:33 PM
    • #4
    • 8th Jul 17, 8:33 PM
    Yes they invited us to join their scheme the old one was frozen , just wish they they had been under the same terms , never mind I retire in 4 weeks
Welcome to our new Forum!

Our aim is to save you money quickly and easily. We hope you like it!

Forum Team Contact us

Live Stats

92Posts Today

2,862Users online

Martin's Twitter