If you adjust initial proposals for change as a result of members’ feedback during the consultation process, you may have to conduct the consultation anew in respect of the new proposal.
However, there are two sets of circumstances where a new consultation is not necessary:
- Where you consult on stopping further benefit accrual and instead decide to reduce the accrual rate
- Where you consult on stopping contributions and instead reduce the contribution rate
Where to find more information
You can find out more through The Pensions Regulator website. This guidance provides the information to help comply with the legal requirements for making certain changes that affect your workplace pension scheme. You can find out more through The Pensions Regulator website at this Link. This guidance provides the information to help comply with the legal requirements for making certain changes that affect your workplace pension scheme.