UK - The Pensions Regulator has published guidance to help trustees of occupational pension schemes meet government expectations for key wind up activities to be completed within two years.
Tony Hobman, chief executive, the Pensions Regulator, said: "The wind-up guidance, alongside our trustee toolkit learning modules, provides trustees with the support they will need when preparing for and undertaking a scheme wind-up.
Hobman continued: "The aligned approach between the regulator, PPF and FAS will ensure consistency between the three organisations and maximise regulatory impact."
The guidance was issued following industry consultation.
The Pension Protection Fund (PPF) is consulting on proposals to charge a "risk reflective" levy for commercial defined benefit (DB) consolidation vehicles.
The funding gap across FTSE 350 schemes could be slashed by as much as £275bn if schemes look beyond traditional ways of creating value. Victoria Ticha examines how
There will be "many flavours" of defined benefit (DB) consolidators but consolidation will only be the right answer for a minority of schemes, Alan Rubenstein says.
Work and Pensions Committee (WPC) chairman Frank Field has questioned the regulator on what lessons it can learn from the experience of the Kodak Pension Plan No.2 (KPP2).