Plumbing Pensions faces a watershed moment after a governance review and strong valuation, says trustee chairman Jon Bridger.
The trustees of the £2bn Plumbing and Mechanical Services (UK) Industry Pension Scheme are seeking court approval to use scheme funds in potential upcoming legal battles.
The trustees of the beleaguered industry-wide Plumbing and Mechanical Services (UK) Industry Pension Scheme have confirmed it will close to accrual in June.
Employers in an industry-wide defined benefit (DB) scheme are braced to receive demands to pay section 75 debts.
Plumbing pensions trustees are "failing in their duty" to provide participating employers with the information they need to prepare for onerous section 75 debts, the Plumbing Employers Action Group (PEAG) says.
Andy Lewis says the introduction of deferred debt arrangement in the employer section 75 debt regulations may bring relief but not be the best solution
Defined contribution (DC) and contracted-out rights will be allowed to be transferred without member consent under regulations soon to be introduced.
The High Court has ruled that Wedgwood made an effective and valid decision when closing the Wedgwood Group Pension Plan (WGPP) to future accrual and ending the final salary link.
The Plumbing and Mechanical Services (UK) Industry Pension Scheme has temporarily banned any of its sponsoring employers from leaving the scheme.
Anne-Marie Winton looks at how a proposed Section 75 amendment could help non-associated multi-employer schemes.