Employer withheld a better pension.

peppered

Hi, hopefully someone will be able to help out.

The company I worked for were taken over 2 years ago and our pension provisions stayed the same as they were before the takeover. But recently we found out that the new owners had a better pension scheme in place with bigger employer contributions and we weren't made aware of this fact. Everyone is now joining this better scheme but we are angry that it was purposely withheld from us for nearly two years.
Are we entitled to compensation and topping up of our schemes from the date we COULD HAVE joined the better scheme?
Thanks in advance.

Terry.

Intoodeep

Would you have been bothered if it was a worse scheme ?

le_loup

Yes. More compensation, that's what the world is short of!

greenglide

It would depend on the terms of the take-over.

Normally there would be no requirement to give you access to the parent company's pension scheme unless you actually became an employee of the new company.

It should have been detailed in the take-over details which I assume you have read?

If they have a better scheme which they have decided to let employees of the taken-over company join that would seem ok.

If, however, you became an employee of the new company and the scheme has been open for anyone to join they should have ley you from the date you joined them.

The devil is in the detail.

peppered

Thanks for the sensible answer.
Yes we became employees of the new parent company and the better pension has been offered to all new starters who joined after the takeover. We only found out after one employee left the old scheme to open his own, independent pension then decided to rejoin the company provided one and was shocked how much better the company one was. After talking to his work colleagues they realised the company had withheld the better pension to all existing employees. When questioned, the HR department was quoted as saying " we didn't think anyone would be interested as the employee contributions are slightly higher " although we have since found out in the joining pack that the employee contributions are not any higher!

Regards.

greenglide wrote: »

It would depend on the terms of the take-over.

Normally there would be no requirement to give you access to the parent company's pension scheme unless you actually became an employee of the new company.

It should have been detailed in the take-over details which I assume you have read?

If they have a better scheme which they have decided to let employees of the taken-over company join that would seem ok.

If, however, you became an employee of the new company and the scheme has been open for anyone to join they should have ley you from the date you joined them.

The devil is in the detail.

le_loup

peppered wrote: »

Thanks for the sensible answer.

What's that? The one that you agree with?

jamesd

There would normally have been a consultation as part of the take over process. During that there would have been employee representatives selected. Those employee representatives appear to have somewhat failed in their responsibilities.