Please note that the consultation period, which ran from 28th May – 31st July, is now closed. The Group is now considering the feedback received and you will receive a further newsletter in due course confirming the final outcome of the consultation.
In November 2014, the Bank’s proposed that all colleagues be offered a defined contribution pension scheme (Pace DC) for future service. Having carefully considered the feedback, the Bank has decided that the changes should be put into effect as proposed, subject to one additional change.
The 2014 Budget introduced significant changes that have been described by many as a revolution in UK pensions. Click here to read what the changes mean for Pace members.