Here are a few answers to questions employers often ask. As always with pensions, it's never simple, so we'll be pleased to explain any points in more detail. Please email, phone or write to us, and we'll be happy to help.

Q: Do I need to change my Pension Scheme Rules following 'A Day'?

A: Yes, there are several important changes including higher allowable levels of contribution, tax-free cash entitlements, and rights to preserved pensions on leaving service. Your pension scheme rules will not be altered automatically. Web.ts can advise on rule changes.

Q: What is the Pensions Protection Fund and what does it cost?

A: This was introduced by the Government to provide some protection of benefits for members of defined benefit (final salary) schemes where an employer becomes insolvent. There is a levy applied to each scheme based on its potential risk. The worse the scheme's or employer's financial position, the higher their levy.

Q: What events must I report to The Pensions Regulator (TPR) in respect of my scheme?

A: There are a number of events which Trustees, Employers, their Accountants, Legal Advisers, Fund Managers and advisers are required to notify to TPR. However, if in doubt, TPR will give clearance if the event does not have significant impact on funding the scheme's liabilities.

Q: How do the new Age Discrimination regulations affect my pension scheme?

A: Age discrimination legislation has affected all pension schemes from December 2006 onwards. All employees are normally entitled to work to age 65 and may have the right to continue longer if they are fit enough to do their job. Employers must follow strict procedures and timescales if they don't wish the employee to continue work after age 65.  However, the coalition government plans to change this, so please talk to Web.ts  so we can ensure you comply.

Q: Have the requirements for Member Nominated Trustees (MNTs) altered?

A: One-third of the Board of Trustees must comprise MNTs suitably trained to comply with trustees' knowledge and understanding requirements. Web.ts can help with this process.

Q: What do trustees have to do to keep their knowledge up to date?

A: It is now a legal requirement, rather than a recommendation, that trustees must have knowledge of pension and trust law and be familiar with their own scheme's Trust Deed and rules. They must keep records of the training undertaken and competence levels. Web.ts can help with ensuring your compliance with these rules.

Q: What if we are considering a take over of another company?

A: It's essential to carefully examine all their employee benefit arrangements as there could be substantial liabilities affecting the proposed purchase price for the business or even render the acquisition untenable. Expert advice is indispensable and Web.ts can provide it.

Q: How do I make sure my employees understand and appreciate the value of the Pension Scheme we provide?

A: Ask Web Trustee Services to devise a specific employee communication programme.

Q: How do the TUPE Regulations affect Pension Schemes?

A: TUPE regulations effectively require that new employes must mirror the existing benefits package from the former employer.  However, this is a complicated area requiring specialist advice, which Web.ts is able to provide.