18th April 2018 Rosalind Connor comments in The Times Law Brief on ministers’ attempts to protect pension pots
Pensions have been at the top of the news and government agenda after a series of businesses went bust and left eye-watering deficits.
The headline initiative in the government white paper, Protecting Defined Benefit Pension Schemes, introduces a criminal offence of wilful or grossly reckless behaviour in relation to a pension scheme, and giving the regulator power to prosecute bosses who put their employee’s gold-plated pensions at risk. The watchdog will also be given power to slap directors with new punitive fines.
Rosalind Connor commented that the reforms have become more political from the “straightforward, sensible” green paper to the “more moralistic tone” of the white paper.
“The end result will be an awful lot more people talking to their lawyers, which might sound good for lawyers, but we are not happy about it,” she says.
Read Rosalind’s comments in The Times Law Brief
The views in this article are intended for general information purposes only and should not be used as a substitute for professional advice. ARC Pensions Law and the author(s) are not responsible for any direct or indirect result arising from any reliance placed on content, including any loss, and exclude liability to the full extent. Always seek appropriate legal advice from a suitably qualified lawyer before taking, or avoiding taking, any action. If you have any questions on the points raised in the above, please do not hesitate to get in touch.