Pensions & Redundancy
The Employment Rights Act 1996 and Pension Schemes Act (amendment) Regulations 2017
The Employment Rights Act 1996 and Pension Schemes Act 1993 (Amendment) Regulations 2017 (“the Regulations”) make amendments to sections 166 and 183 of the Employment Rights Act 1996 and section 123 of the Pension Schemes Act 1993 (“the Acts”). The Regulations will come into force on 26 December 2017.
The Regulations bring insolvent employers that are not defined as a company, an individual, or Limited Liability Partnership, within the provisions of the Acts for the purposes of enabling their UK-based employees to make a claim for certain redundancy and insolvency related payments by the from the Insolvency Service’s Redundancy Payments Service.
In practice, the Redundancy Payments Service already honours payments to the former employees of such employers. Accordingly, these Regulations will have no impact other than to formalise the position.
Further guidance relating to the Pension Schemes Act 1993 will be published early in 2018.