Immediate insolvency top issue in restructuring deals
Two-thirds of the industry believe The Pensions Regulator (TPR) should look at the immediate insolvency of a company when considering whether to approve a restructure involving a pension scheme.
The Taylor Wessing survey of individuals involved in corporate restructures found 61% believed they should look at the level of return to a scheme, and 44% stated it was the profile of the employer...
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'Disappointed' PLSA calls for structural reform as part of DWP's general levy proposals
The Pensions and Lifetime Savings Association (PLSA) has expressed it is disappointed with the Department for Work and Pensions’ (DWP) general levy consultation – saying there should be no increase in the levy without structural reform.
New TPR powers could lead to upsurge in clearance applications
The Pension Regulator’s (TPR) strengthened powers under the Pension Schemes Bill could lead to a revival of its clearance process, according to advisers and lawyers.
Pension Schemes Bill gets final approval and waits for Royal Assent
The long-debated Pension Schemes Bill has received parliamentary approval, guaranteeing its place on the statute book.
FCA data reveals over £20bn of DB transfers between 2018 and 2020
Some £20.1bn of defined benefit (DB) pensions were advised to transfer between 2018 and 2020, while £10.2bn were recommended not to transfer, Financial Conduct Authority (FCA) data reveals.
Trustees will need to be corporate finance experts under new TPR powers
Pension trustees will have much more involvement in business discussions and corporates will need to think more about pensions when the watchdog’s increased powers come into force, LCP says.
