The Pensions Regulator is expected to argue in the High Court today that a liability that flows from a financial support direction should be treated as an administration expense.
The regulator's counsel is due to say that if Nortel Networks and Lehman Brothers comply with the FSD by paying a liability to their respective stricken pension schemes then that constitutes administration...
More needs to be done to speed up DB to DC transfers but, as Jonathan Stapleton says, more also needs to be done to protect members.
The Pensions Ombudsman (TPO) took on 2,566 early resolution cases in 2018/19 after onboarding a team from The Pensions Advisory Service (TPAS), according to its annual report and accounts.
The lifeboat fund is in a good position despite reserves taking a £0.6bn hit. But the ramifications of the EU judgment on member compensation is an area of concern for CEO Oliver Morley, writes Stephanie Baxter