Administrators of Nortel and Lehman Brothers have reached the Supreme Court in their attempts to challenge a Financial Support Direction (FSD) issued by The Pensions Regulator against the insolvent companies.

The latest views from the industry

The government will be given the power to ban incentivised transfer exercises under the Pensions Bill published today.

More than two thirds of respondents believe the cost of equalising guaranteed minimum pensions (GMPs) will exceed the monetary risks posed.

Most Buzz respondents were fairly relaxed over the exit fees charged by some third party administrators (TPAs). Although 28% of contributors said these were impeding trustees who wanted to switch providers, 34% said this was not the case.

The majority of contributors believe the government was wrong to bring forward the end of short service refunds. The move means refunds will be banned before measures to consolidate small pots are expected to be in place.

Contributors enthusiastically backed the latest call for a single regulator for all workplace pensions. More than three quarters said this was the way forward, while fewer than one in five backed the current system.

Buzz respondents were split equally over the prospect of scrapping compulsory limited price index (LPI) inflation protection for DB schemes.

Trustees of the Kodak Pension Plan (KKP) have launched a new scheme for its 15,000 members after reaching an unprecedented agreement to keep them out of the Pension Protection Fund.

Companies are less likely to be wound up because of their pension deficit after the Supreme Court upheld a decision to set a high threshold for declaring a business insolvent.