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08 May 07 Public offer funds to be prevented from imposing a participating employer requirement

The Government will prevent public offer funds from requiring that new employers sign "participating employer" agreements before accepting contributions on behalf of fund members. The measure will have effect from 1 July 2007. Currently, funds may require employers to become a ‘participating employer’ in order to make contributions to an employee’s existing fund.

This measure will generally allow employees to choose to remain in a fund following a change of employer, rather than having contributions paid to another fund.

See Budget Paper No 2 pp 22-3

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