UK - Industry figures have offered a luke-warm welcome to The Pensions Regulator's (TPR) wind up guidance.
Jane Beverley, principal, Punter Southall, said: "The guidance will be helpful for trustees, who may not have external advice on the wind up of their scheme, to access central direction on what to do."
Beverley continued: "It also shines a spotlight on wind ups that are already happening and goes some way to ensuring the best outcome for members."
Mercer's view was a little more cautious, stating the guidance may not go far enough to help trustees.
Alicia Tse, principal at Mercer, said: "The guidance does provide helpful background to the process of winding up and it is good to see TPR, PPF and FAS working together.
Tse continued: "It is very generic, though, and does not address certain key issues, including inconsistencies between the Department for Work and Pensions and HMRCs' expectations.
"Our concern remains that it does not help trustees resolve the difficult issues and conflicts of interest they have to wrestle with during the wind-up period," she said.
Beverley at Punter Southall concluded: "It is better to have this than nothing at all and it will certainly help trustees, but it is not the most groundbreaking development the pensions industry has ever seen."
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