FRC clamps down on asset-backed contributions
The Financial Reporting Council (FRC) has launched a crackdown on companies using asset-backed contribution structures (ABCs) that reclassify pension obligations as equity instruments in their accounts.
The watchdog said it had intervened with several companies that had structured ABCs in this way, and in each case the company had revised either the structure or the valuation of the arrangements. It...
More on Defined Benefit
Obscurity in TPR criminal sanctions guidance makes industry anxious
The Pensions Regulator (TPR) has failed to assuage concerns over its enhanced criminal sanctions regime with the industry continuing to call for clarity.
A landmark moment for pension scheme regulation
Matthew Swynnerton explores the impacts of the Pension Schemes Act 2021
Schemes to be slapped with £1.5bn bill for equalising past transfers
Schemes could be charged a £1.5bn bill to equalise past defined benefit (DB) scheme transfers after last year’s landmark GMP equalisation ruling, says Buck.
Covid-19 financial impact on DB schemes likely to be 'marginal'
The financial impact on defined benefit (DB) schemes from the Covid-19 pandemic is “likely to be marginal”, and only in the event of continued substantial additional deaths for many years would there be a significant reduction in UK DB scheme liabilities,...
What TPR's reports tell us about pre-pack deals
Luke Hartley looks at recent cases involving House of Fraser, Silentnight and Johnston Press