Myners' proposed regime could cause as many problems as the MFR if the Government does not move quic...
Myners' proposed regime could cause as many problems as the MFR if the Government does not move quickly to clarify a number of issues raised, according to Watson Wyatt.
The pension consultant group said it believes the proposed regime is a step in the right direction but it has concerns about the roles of employers and trustees and the liabilities to be imposed on an insolvent employer and on one which is solvent but chooses to wind up the scheme.
Colin Singer, a partner with Watson Wyatt, said: "There is the risk that trustees and the actuary will favour investment strategies and funding levels that the employer considers unduly cautious. It would be ironic if the regime results in a bias towards conservative investment strategies given the Treasury's aim of freeing up institutional investment."
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