Reading all your comments here and the article stated above, I had a small question regarding the shift from a DB to a DC plan.
By October 2017, employees who have joined the scheme since the staging date are entitled to contribute how much? (Is it 4% over a gradual period of time).
Also, whether the employees in the existing schemes before the shift, who pay less than 4% or nothing at all, are also obliged to pay 4 % by October 2017 ?
Kindly give suggestions or the possibilities in this scenario.
By Louis Goggans
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