Trustees should not have the power to decide the future of a pension scheme, says the Association of...
Trustees should not have the power to decide the future of a pension scheme, says the Association of Consulting Actuaries, as this could threaten the financial health of some companies and in some cases even lead on to their insolvency. This comes in a response to DWP's amended consultation paper - "Occupational Pension Schemes (Winding Up and Deficiency on Winding Up etc.) (Amendment) Regulations 2003" – that suggests a shift towards more responsibility for trustees. DWP's initial proposal only required full buy out of scheme benefits where a solvent employer had chosen to w...
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