UK - Mercer has joined the chorus of critics over OPRA's new guidelines on winding up pension schemes and the handling of GMP equalisation.
Mercer Human Resource Consulting said that, even if the guidelines were followed, trustees could still be challenged by members if their actions did not fully reflect legal requirements.
European principal Costas Yiasoumi said: “This is particularly the case for equalisation of members’ benefits.”
Jonathan Stapleton asks whether newly-accredited professional trustees should be a statutory fixture on pension scheme boards.
Savers are being warned by the Insolvency Service to guard their pension pots from investment scammers and negligent trustees as it winds up 24 companies.
Respondents say they should only be required in certain situations as the system is not broken.