I have just joined a Company (100+ employees) who have an occupational pension scheme (money purchase with Company making a contribution)but ‘joining’ dates are only twice a year (April and October). This means that a new employee may have a wait of 5+ months before having access to a pension scheme. All previous Companies I have worked for have allowed either immediate access or a maximum of 3 months from commencement of employ (I.e. joining dates 4 times a year,e.g. Jan, April, July & October).
Can somebody tell me if we are complying with legislation in only allowing access twice a year (or should we be changing 2 minimum 4 times a year to allow access within 3 months of joining)?
Any help would be appreciated.
Sue Martin
