Including: UK - Punter Southall urges caution over buyouts; US - WR Grace to add $24m contributions
In a letter to the Financial Times, Joanne Livingstone, a principal with Punter Southall, said trustees could not stand down yet, despite the rise of the buyout industry. She said most pension schemes could not afford to offload liabilities and urged schemes to consider the suitability of the products on offer.
US - WR Grace to add $24m contributions
The Wall Street Journal (WSJ) has reported chemical company WR Grace is to add a $24m contribution to its defined benefit (DB) pension plan, despite undergoing Chapter 11 bankruptcy proceedings. The WSJ additionally reported the company has contributed over $300m to the scheme since 2003.
Jonathan Stapleton asks whether newly-accredited professional trustees should be a statutory fixture on pension scheme boards.
Savers are being warned by the Insolvency Service to guard their pension pots from investment scammers and negligent trustees as it winds up 24 companies.
Respondents say they should only be required in certain situations as the system is not broken.