Update on the new DC section
As active VisitBritain (VB) and VisitEngland (VE) members will be aware, there has been a delay in the implementation of the new Defined Contribution (DC) section and moving VB and VE members into it.
BTA has been working with all the necessary stakeholders: the Trustees; DCMS in consultation with HM Treasury and VisitScotland (VS), whose approval is required to put in place the new structure. Agreement for the proposal was received in principle from the Trustees and DCMS but at a late stage in the process, VS have informed us that they will not approve the proposed amendment at present due to wider BTA/VS considerations.
There will therefore be a delay to the implementation of the new arrangements. However, in the meantime, active VB and VE members will continue to accrue Defined Benefit pensions until agreement is reached. Contributions will continue to be paid by members at 5% and deducted in the normal way. The delay to the introduction of the DC structure may be short, but it may not be, and BTA have advised the Trustees that they will continue to work with VS and the other stakeholders to find a resolution.
VB and VE members are requested to contact BTA in the first instance for further information.
These proposals do not affect deferred or retired members of the Scheme or active members employed by VisitScotland who continue to accrue pension on a Defined Benefit basis.