PPF

Rachel Dalton on the new responsibilities of the regulator

Schemes are on track to meet The Pensions Regulator's data targets but costs may prevent some from complying on time, third-party administrators say.

Deficits in UK schemes remain stubbornly high as the aggregate shortfall for schemes in the PPF 7800 index rose above £250bn last month.

Trade bodies have balked at the prospect of an increase in the Pension Protection Fund compensation cap, arguing the cost will be passed onto schemes and employers.

The Department for Work and Pensions will review the Pension Protection Fund compensation cap over fears long-serving workers are receiving "penal" treatment.

The Pension Protection Fund has confirmed the method trustees must use to calculate guaranteed minimum pensions for schemes transferring into the lifeboat fund.

The Department for Work and Pensions is to consult on giving The Pensions Regulator a statutory objective to consider the effect of recovery plans on sponsoring employers.

Removal firm Pickfords has shifted its defined benefit scheme off its balance sheet via a management buyout following a prepack administration which took place at the end of November.

The Pension Protection Fund has updated its Statement of Investment Principles to expand the range of asset classes it can invest in.

The £13m Ring pension scheme has entered the Pension Protection Fund, after trustees and advisers whittled down a list of over 40 companies to just four sponsors and triggered their insolvency.