UK - The Pensions Regulator has stepped in to resolve a battle between EMI Group's pension trustees and new owner Terra Firma Capital Partners.
The regulator has confirmed it became involved after the trustees of the scheme sent a letter to members last week stating that they had failed to agree on the funding level of the scheme.
The two sides could not reach an agreement over the level of contributions by the private equity firm which bought EMI earlier in the year.
The Pension Regulator explained it would get both sides involved in negotiations and it had the power to put a funding plan in place if necessary.
Enhanced powers for The Pensions Regulator (TPR) to prosecute and fine company directors who "wilfully or recklessly" put their defined benefit (DB) pension scheme at risk will be hard to enforce, commentators say.
Melrose has pledged to contribute up to £1bn to GKN's pension schemes as part of a final offer to acquire the engineering business.
Existing master trusts will be forced to pay £41,000 when applying for authorisation under the upcoming regime, the government has confirmed.
UPDATE 2 - DWP publishes DB white paper: Stronger powers for TPR, DB chair statements to be introduced
The Pensions Regulator (TPR) will be given the power to fine company bosses who deliberately puts their defined benefit (DB) schemes at risk, the government has confirmed.