GORDON Brown's decision to cut pension tax credit in 1997 is not solely to blame for increased pressure on workplace pensions, the National Association of Pension Funds claims.
The NAPF said removing the tax credit system was “unhelpful” but many other things have contributed to the decline in defined benefit schemes. NAPF director of policy Nigel Peaple said: “The removal...
Enhanced powers for The Pensions Regulator (TPR) to prosecute and fine company directors who "wilfully or recklessly" put their defined benefit (DB) pension scheme at risk will be hard to enforce, commentators say.
Melrose has pledged to contribute up to £1bn to GKN's pension schemes as part of a final offer to acquire the engineering business.
Existing master trusts will be forced to pay £41,000 when applying for authorisation under the upcoming regime, the government has confirmed.
UPDATE 2 - DWP publishes DB white paper: Stronger powers for TPR, DB chair statements to be introduced
The Pensions Regulator (TPR) will be given the power to fine company bosses who deliberately puts their defined benefit (DB) schemes at risk, the government has confirmed.