Donate SIGN UP

Duty to notify scheme beneficiaries of rights

Avatar Image
cesdlv | 09:21 Mon 19th Sep 2011 | Law
3 Answers
Do the operators of a scheme have a duty to notify beneficiaries of benefits and risks to those benefits, and if so, is there statute or case law to support this principle? My specific concern is with a private sector pension scheme where benefits for AVCs purchased after 1st October will lose most inflation protection. My employer says he is too busy to deal with the paperwork for securing signatures and payments by that time. The scheme operators are silent, and had not notified beneficiaries of the deadline.
Gravatar

Answers

1 to 3 of 3rss feed

Best Answer

No best answer has yet been selected by cesdlv. Once a best answer has been selected, it will be shown here.

For more on marking an answer as the "Best Answer", please visit our FAQ.
The trustees should be able to provide information?
I can't imagine there is any law against what is being done- it seems it's only benfits purchased after a future date that would be affected.
Sorry if I misunderstood- if you are just asking whether you should be notified before you purchase then I think the answer is yes. How did you hear about it? If you already know I'm not sure what the issue is.
Question Author
Thank you Factor80.

I think the information was there, but very much hidden in the small print. I am not disputing the scheme's right to cut benefits so much as questioning whether they might be under a duty to alert beneficiaries of the window of opportunity to protect themselves provided they act by a certain date. Somewhere in the back of my fuddled brain lurks a memory of case law within the last year or so which supports the proposition that there is such a duty (not confined to pension fund trustees or administrators). But perhaps I imagined it all.

1 to 3 of 3rss feed

Do you know the answer?

Duty to notify scheme beneficiaries of rights

Answer Question >>

Related Questions

Sorry, we can't find any related questions. Try using the search bar at the top of the page to search for some keywords, or choose a topic and submit your own question.