UK - MNPA has been appointed to provide administration, accounting and pensioner payroll services to the Morgan Crucible Pension Scheme.
MNPA – which provides pensions administration to clients with final salary, money purchase, career average or hybrid schemes – has replaced an in-house team.
Morgan Crucible’s annual report showed that the defined benefit scheme had an FRS17 deficit of £82m – up by £65m since the end of 2002.
Morgan Crucible group benefits and compensation manager Geoff Weir said: “It was a thorough tendering process and the team has delivered on its promise by meeting the three-month implementation timescale. It is now going live with the administration.”
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