UK - Four years is not too long a time to wind up a scheme, the pensions ombudsman has decided.
David Laverick rejected 46 complaints made by members of the GBE International Pension Scheme and said that four years was not an excessive amount of time if the firm had to reconcile data with the National Insurance Contribution Office.
Laverick also said that independent trustees were not “dragging their heels”.
The determination said matters beyond the scheme’s control – such as computer problems and backlogs by NICO – were causing the delays.
Most respondents in this week's Pensions Buzz do not think businesses should be able suspend AE contributions if in financial distress.
Former BHS owner Dominic Chappell has lost the appeal against his section 72 conviction and sentence for failing to hand over information to The Pensions Regulator (TPR).
This week's top stories include Marsh and McLennan Companies agreeing to buy JLT, and the home secretary calling for AE to be scrapped in a no-deal Brexit scenario.
Lesley Titcomb says the watchdog wants closer interactions with pension funds to spot problems sooner and act before having to use its more stringent powers