Two trustees have been ordered to pay £193,000 into the Pilkington Tiles Pension Scheme after they moved surplus funds from the trustee bank account to the sponsoring employer.
Dean Burrows and Stephen Lloyd were also liable for meeting any tax charges that might occur as a result of returning the excess contributions to the company. Refunded surpluses are taxed at 35% for...
The Pensions and Lifetime Savings Association (PLSA) has published a drafting template to help defined contribution (DC) scheme trustees produce their annual chair’s statements.
Seven bodies with responsibility for protecting UK pension savers’ pots have joined forces to create an information guide to reassure scheme members amid concern about the impact of the Covid-19 crisis on financial wellbeing in the UK.
Pension scheme trustees could find themselves with a better seat at the table during a corporate restructuring under government proposals presented to parliament last week.
Costly DB scheme regulations can result in abuses of equitable relations among stakeholders, say Iain Clacher and Con Keating.
There are many reasons why trustees may need to complete a benefit rectification exercise. Faye Jarvis explores the key considerations in these instances.