UK. Pension rules risk sending more schemes into PPF
New legislation expected to come into force from the government’s defined benefit (DB) white paper has the potential to increase company insolvencies and send their schemes into the pensions lifeboat, a lawyer has warned.
The Department for Work & Pensions (DWP) published in March its 76-page defined benefit white paper, which besides creating new legislation to introduce a criminal offence to punish those found to have committed wilful or grossly reckless behaviour in relation to a pension scheme, also gives The Pensions Regulator (TPR) powers to disqualify company directors, and introduce new punitive fines.
Read More: Financial Times
