The Pensions Regulator (TPR) has fined a scheme after it failed to notify the regulator it had appointed a professional trustee, in the first instance of a penalty being levied for this reason.
A total fine of £3,300 was issued to the unnamed scheme - with £3,000 liable to the professional trustee - when, in the course of communication with the scheme, the watchdog became aware the trustee had...
The long-debated Pension Schemes Bill has received parliamentary approval, guaranteeing its place on the statute book.
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.
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.
Mediation has been under-utilised historically as a means of dispute resolution in this area. Mark Blyth and Geoff Egerton think this is going to change.
The Pensions Regulator (TPR) has published the interim response to its first defined benefit (DB) funding code consultation – highlighting the depth of industry concern around its proposed twin-track regime.