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Standard Life, company/group scheme.
girl_friday_4
Posts: 7 Forumite
My company pension is with Standard Life. It is held as a group scheme.
We are quite a small company with 12 employees.
I have been told by the boss that due to the fact that the pension is held as a group scheme, I am not entitled to any of the windfall if/when S.L. go PLC.
I have also been informed by someone else, that the administrator of our company group scheme WILL receive the windfall payout. Not just the proportion for his own pension, but the windfall associated with everyone included in the group pension. The person then went on to suggest that the administrator has no legal obligation to share this very large windfall with anyone!?
Is this true?
How do I put pressure on the company to share out the windfall to everyone?
Like I said, we are a small company, what happens to larger companies who might have 100s of employees?
We are quite a small company with 12 employees.
I have been told by the boss that due to the fact that the pension is held as a group scheme, I am not entitled to any of the windfall if/when S.L. go PLC.
I have also been informed by someone else, that the administrator of our company group scheme WILL receive the windfall payout. Not just the proportion for his own pension, but the windfall associated with everyone included in the group pension. The person then went on to suggest that the administrator has no legal obligation to share this very large windfall with anyone!?
Is this true?
How do I put pressure on the company to share out the windfall to everyone?
Like I said, we are a small company, what happens to larger companies who might have 100s of employees?
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