The UK government has proposed measures to speed up and introduce greater accountability into the winding up of occupational pension schemes.
Launching the consultation document, pensions minister, Ian McCartney, said: These regulations are a significant step towards making the process of winding up pension schemes more efficient and transparent.”
The Occupational Pension Schemes Regulations 2001 will set out the detail which must be included in the notices and reports to be made to the Occupational Pensions Regulatory Authority (OPRA), including the additional information to be given to scheme members.
t is intended for the measures introduced in these regulations to come into force on April 6, 2002.
By Janet Du Chenne
PwC, KPMG, EY and Deloitte must break up their consultancy and audit businesses into distinct firms to provide greater focus on the "most challenging and objective audits", the competition watchdog has said.
The Department for Work and Pensions (DWP) has released its first batch of guidance setting out how the guaranteed minimum pension (GMP) conversion legislation may be used to resolve unequal payments.
This week's top stories include the government spending £800,000 on a Gogglebox advert and MPs writing to The Pensions Regulator about its engagement with the Railways Pension Scheme.