Many of my constituents who are
on occupational schemes, mostly from British Telecom, have found that their pensions have been changed only two years after they were renegotiated between the trustee and the pensioners.
Partly as a result, the number of active members of private
sector occupational schemes has fallen by 41 per cent in the past 12 years.
Persons in the middle years for the most part have established places in
the occupational scheme.
My constituents and I would be interested to know the degree of consideration the Minister gave to the effect that his changes to the uprating regulations would have on
the occupational schemes of previously nationalised industries, because they have had a very adverse effect on people who thought that they had funded schemes.»
Usually it means a personal pension that meets these conditions, but some types of
occupational scheme can also be Stakeholder schemes.
Similarly, the court held that Shore had obtained a bundle of rights on transfer, which were less advantageous to him than those he enjoyed under
the occupational scheme.
On the defendant's advice, Shore suffered loss by transferring his accrued benefits from
an occupational scheme into a personal pension in 1997.
She has experience advising trustees of
occupational schemes on a full range of issues including: