work-based pension scheme
- work-based pension scheme
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Pension schemes in the UK that the Pensions Regulator has responsibility for regulating. Work-based pension schemes are defined in section 5(3) of the Pensions Act 2004 to include occupational pension schemes, stakeholder pension schemes, and personal pension schemes which have in place direct payment arrangements for their employees. Under these arrangements the employer deducts its employees' pension contributions direct from their salaries and pays them to the pension provider.
Related links
Practical Law Dictionary. Glossary of UK, US and international legal terms.
www.practicallaw.com.
2010.
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