UK - Ministers are unlikely to make major changes to measures in the Pensions Bill that bosses fear will curb investment in British firms, lawyers warn.
Pinsents’s latest Law at a Glance report says that while the government has listened to the concerns over the “moral hazard” clauses, which were aimed at preventing companies dumping liabilities on the Pension Protection Fund, the clauses will remain much the same.
Groups such as the British Venture Capital Association and the Society of Turnaround Professionals argue the measures will stop financially troubled companies securing capital, bankrupt venture capital organisations and leave directors’ family members liable for pension scheme deficits.
However, a BVCA spokesman said initial meetings with DWP senior officials, which are part of a summer consultation exercise ordered by the pensions minister Baroness Hollis,had been positive.
Life expectancy in the UK saw no improvement between 2015 and 2017 as the number of people aged over 90 hit a record high, latest Office for National Statistics (ONS) data reveals.
Self-administered pension funds spent £14bn on payments to pensioners in Q2 2018, but only received £11.4bn of contributions (net of refunds), latest Office for National Statistics (ONS) data reveals.
The Pensions and Lifetime Savings Association (PLSA) has named the 17 members of its inaugural policy board after a competitive application process with 60 candidates.