A £650m government loan facility for the National Employment Savings Trust will be "unrecoverable" as the agreement allows the terms of the loan to be renegotiated, a lawyer says.
The agreement, obtained by PP through a Freedom of Information request, shows the Department for Work and Pensions has not asked for any security from NEST and the corporation will be able to renegotiate...
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