Pension trustees liable

clock

Trustees not employers will be liable for anything that goes wrong in a stakeholder pension scheme. ...

Trustees not employers will be liable for anything that goes wrong in a stakeholder pension scheme. The paper states that trustees will ultimately be financially liable for the operation of the scheme and that if the scheme is unable to operate, within the charge limit, the trustees would be liable for any costs in excess of the charging limit. According to the latest consultation paper trustees will have to take out indemnity insurance to protect themselves. The cost of indemnity insurance must be included within the total 1% annual charge for stakeholder. The Government is planning for...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on uncategorised

Building Society-owned Newcastle Financial Advisers acquires Openwork firm

First of a number of acquisitions

Hannah Godfrey
clock 09 December 2019 • 1 min read

Bond managers fear hedges being undermined as liquidity dries up

The recent sell off in the bond market and growing liquidity issues have forced bond investors to use similar hedging techniques, undermining their effectiveness and causing concerns about how much downside protection funds really have.

Anna Fedorova
clock 03 July 2013 •

Police launch investigation into mortgage middleman fined £1m

West Midlands Police have launched a fraud investigation into a Birmingham financier over his role in sale and rent back agreements.

clock 25 June 2013 •