One-stage dispute resolution procedure available from April 2008
04 April 2008
From 6 April, trustees can use a one-stage procedure for resolving pension disputes.
|
However, they have a choice of whether to continue with their existing two-stage procedure. They must also complete decision-making within a "reasonable time period". This means:
- making and telling an applicant the outcome of the decision within four months of receiving the application; and
- communicating the result to the applicant within 15 working days of a decision.
Where trustees keep their existing two-stage procedure, these time frames apply to each stage.
The Regulator recognises that sometimes it will take more than four months to determine a dispute, for example, where delays arise outside the trustees' control or decisions involve complex or labour-intensive research. Where this is the case, trustees must provide a decision within a time frame fitting to the decision. They must also try to meet the reasonable time periods.
Under the dispute resolution procedure, members have six months to apply from ceasing to have an interest under the scheme. However, trustees can decide to accept applications outside this period.
The Occupational Pension Schemes (Internal Dispute Resolution Procedures Consequential and Miscellaneous Amendments) Regulations 2008/649
Code of Practice: Dispute Resolution – Reasonable Periods – laid March 2008
|
|
|
Contacts
If you would like further information on this subject please get in touch with your usual contact or:
Karen Prince
Senior Professional Support Lawyer, T: +44 (0)20 7246 7471
Author/EditorCopyright © Denton Wilde Sapte LLP, unless otherwise indicated. All information correct as at date of publication. Consistent with our policy when giving advice on a non-specific basis, we cannot assume legal responsibility for the accuracy of any particular statement. In the case of a specific problem, it is recommended that professional advice be sought. |