The Department for Work and Pensions has launched a consultation on creating an objective for the Pensions Regulator to consider the long-term affordability of deficit recovery plans for defined benefit schemes' sponsors.
The intention to consult on the issue was announced during the Autumn Statement (PP Online 5 December 2012). At the time, Chancellor George Osborne said the government "is determined to ensure that...
Partner Insight: Members' evolving needs and expectations are driving changes in scheme administration. As the pensions landscape inevitably continues to change, how will your scheme's approach need to develop to keep pace?
The Pensions Regulator (TPR) is "working closely" with government contractor Interserve and the trustees of its defined benefit (DB) pension schemes, it has confirmed.
The industry has welcomed the Department for Work and Pensions' (DWP) consultation on defined benefit (DB) consolidation as a way to address scheme covenant issues.
BMO Global Asset Management has opened a UK fiduciary management business, promising a "truly open architecture" approach to deliver "better client outcomes".