The Pensions Regulator's decision to finally enforce its moral hazard powers - through a £5m contribution notice to the Bonas Group Pension Scheme - got me thinking about Daddy Longlegs. Apparently, the bumbling Longlegs has the most powerful venom in the animal kingdom. However, it cannot administer the venom because it has no fangs.
Similarly, the regulator has a vast array of enforcement powers which, until yesterday, it seemed unable or unwilling to use. Indeed, in a recent article in PP Sackers partner Robin Simmons questio...
To continue reading this article...
Join Professional Pensions
- Unlimited access to real-time news, analysis and opinion from the industry
- Receive our in-depth monthly magazine in either print or digital format
- Access our Sustainable Investment Hub covering news and opinion from thought leaders in the ESG space
- Receive important and breaking news stories selected by the Editors in our daily newsletter
- Hear from industry experts and other forward-thinking leaders
- Receive a monthly members-only newsletter with exclusive opinion pieces from leading industry experts and a feature from the magazine in advance of its release date