Martin Hunter says while new TPR powers will increase the burden on all DB employers, it isn't all doom and gloom
It's a tough time to be an employer of a defined benefit (DB) scheme. A small number of very high profile pension failures (BHS, Tata Steel, Carillion, etc) have focused media and political attention...
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