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Pensions Regulator announces changes to the DC scheme return for 2024
The Regulator has issued an online announcement about upcoming changes to its DC scheme return.
Australia | Publication | August 2023
This article was co-authored with Lachlan Crosbie.
Employers need to be aware of key changes to legislation protecting employee rights which will commence in the coming months.
The Fair Work Legislation (Protecting Employee Entitlements) Act 2023 (Protecting Employee Entitlements Act) marks the Government’s second major reform to the Fair Work Act 2009 (FW Act).
The Protecting Employee Entitlements Act builds on prior reforms, and introduces further amendments in relation to:
The Protecting Employee Entitlements Act follows the Fair Work Legislation (Secure Jobs, Better Pay) Act 2022 (Secure Jobs Act) that came into force in December 2022. For further information on these reforms, refer to our previous article summarising the changes here.
This update provides a timeline for employers of when the reforms in the Protecting Employee Entitlements Act come into effect, as well as the residual reforms under the Secure Jobs Act that are yet to be implemented.
* https://www.fairwork.gov.au/
** https://www.nortonrosefulbright.com/en-au/knowledge/publications/737cab3a/a-last-sunset-for-zombie-agreements
Publication
The Regulator has issued an online announcement about upcoming changes to its DC scheme return.
Publication
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We reported last month that the Court of Appeal had agreed with the High Court’s previous judgment that all rule amendments to contracted-out DB schemes between 1997 and 2013 require written actuarial certification. Three pensions professional bodies have now issued a joint statement on the effect of the ruling.
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