UK - Capital Cranfield looks set to step down as independent trustee at pension liberator The Brand New Carpet Company and Glenworthy.
OPRA appointed Capital Cranfield to wind-up the Brand New Carpet Company a year ago. The position is now up for renewal, but the firm looks set to refuse.
The independent trustee has already raised concerns with OPRA over the funding arrangements in its role.
Chairman Andrew Benke said the firm was not willing to be paid for its role using pension fund money that was collected by “illicit” means.
He also criticised the pensions regulator for its “lacklustre” approach in cracking down on pensions liberation firms.
Life expectancy in the UK saw no improvement between 2015 and 2017 as the number of people aged over 90 hit a record high, latest Office for National Statistics (ONS) data reveals.
Self-administered pension funds spent £14bn on payments to pensioners in Q2 2018, but only received £11.4bn of contributions (net of refunds), latest Office for National Statistics (ONS) data reveals.
The Pensions and Lifetime Savings Association (PLSA) has named the 17 members of its inaugural policy board after a competitive application process with 60 candidates.