The National Employment Savings Trust (NEST) has conceded it has little chance of recovering most of the £1.4m it lost due to fraud in 2012/13.
The scam, described as a mandate fraud, involved the diversion of a supplier payment from the scheme's trustee body, NEST Corporation (PP Online, 13 July 2013). In its annual report and accounts for...
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.