UK - The Pensions Regulator has demanded a private equity firm pay an £8m (US$14.2m) pension fund top-up to a firm it sold almost a year ago.
The Pensions Regulator declined to comment as the case is ongoing, but said it had the power to demand retrospective pension scheme payments from the previous owners of a company over a 'look back period' of 12 months, under the terms of the Pension Act 2004.
The Regulator added it would have to believe the measures were appropriate and its powers would not be used without due consideration. The order relating to Duke Street Capital was the first time the Regulator had acted in such a way.
Duke Street said: "Duke Street and the trustees of the DB Focus Pensions are delighted to have reached an agreement that will provide further support for the members."
Focus DIY could not be reached for comment.
Most respondents in this week's Pensions Buzz do not think businesses should be able suspend AE contributions if in financial distress.
Former BHS owner Dominic Chappell has lost the appeal against his section 72 conviction and sentence for failing to hand over information to The Pensions Regulator (TPR).
This week's top stories include Marsh and McLennan Companies agreeing to buy JLT, and the home secretary calling for AE to be scrapped in a no-deal Brexit scenario.
Lesley Titcomb says the watchdog wants closer interactions with pension funds to spot problems sooner and act before having to use its more stringent powers