Guidance

Preston guidance: November 2017

• From: HM Treasury
• Part of: HMT Preston guidance
• Published: 24 November 2017

Preston factors (earnings and interest factors) are provided for employers.

Documents

Employee NICs rebate

ODS, 28KB

This file is in an OpenDocument format

Preston guidance: annex 2 (earnings and interest factors)

ODS, 53KB

This file is in an OpenDocument format

Details

Following the European Court of Justice and House of Lords’ rulings in 2000/2001 in favour of part-timers gaining retrospective access to occupational pension schemes, provided they meet the necessary legal requirements, the Preston factors (earnings and interest factors) are provided for employers.

The factors are used to provide those entitled to reinstatement, an opportunity to gain pension service at no cost to them, which as far as possible makes these individuals no better and no worse off than if they had paid contributions to the scheme when they were originally employed.

Document information

Published: 24 November 2017

From: HM Treasury

Part of: HMT Preston guidance