Following the successful inaugural meeting of the SME Forum earlier this year, we were really pleased to get together with Forum members again in September for some interesting and, it’s fair to say, at times challenging discussions.
This year’s International Women’s Day theme was #BreakTheBias, and yesterday we held a hybrid event for employees to discuss some of the stereotypes, discrimination and bias women often face at work. The event was hosted by our Chair, Kate Jones.
The assessment period starts with a qualifying insolvency event. You must file notice of the insolvency – an S120 notice – within 14 days of your appointment or of becoming aware of the existence of the pension scheme. Without that, it’s not possible to make a start on the work that needs to be completed during the assessment period. By law, we exercise the trustees’ rights against the employer during the assessment period. So we need to know about the insolvency as soon as possible.
Deficit reduction contributions are extra payments you can make to reduce the shortfall of funding in a pension scheme. These could form part of a recovery plan, or be additional to that.
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