UK - The Pension Compensation Board (PCB) has made a capital settlement of just over £2m to the Cheney Pension Scheme following a decision that the assets of the scheme had been reduced by £2.9m due to dishonest acts by the former trustees.
New trustee Independent Trustee Services (ITS), appointed by the Occupational Pensions Regulatory Authority in October 2000, welcomed the £2,376,754 settlement. ITS engaged European law firm Tay...
To continue reading this article...
Join Professional Pensions
- Unlimited access to real-time news, analysis and opinion from the industry
- Receive our in-depth monthly magazine in either print or digital format
- Access our Sustainable Investment Hub covering news and opinion from thought leaders in the ESG space
- Receive important and breaking news stories selected by the Editors in our daily newsletter
- Hear from industry experts and other forward-thinking leaders
- Receive a monthly members-only newsletter with exclusive opinion pieces from leading industry experts and a feature from the magazine in advance of its release date