Legislation
Has the Public Sector Exit Payments Been Revoked?
Due Date
Revoked
Summary
In previous issues we reported that the Public Sector Exit Payments Regulations 2020 were due to come into effect in November 2020.
The Regulations would place a £95,000 cap on public sector exit payments, including redundancy payments, the cost to the employer of funding early access to unreduced pensions, and other non-financial benefits such as additional paid leave.
Following intense criticism of the Regulations, the government has now announced that they will be revoked.
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