UK - Hewitt Bacon & Woodrow is urging the government to exclude money purchase schemes from any prescription arising out of the Myners Report.
Hewitt investment adviser Anthony Ashton believes ministers – particularly those at the Treasury – are far more interested in changing the behaviour of large DB schemes, than small DB or DC schemes.
“Small DB schemes or DC schemes just do not have large pools of assets and the government should not be foisting on them a significant compliance burden when these schemes have little resources.”
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