£50,000 penalty for missing Pensions Regulator deadline

The Pensions Regulator will issue 8,000 occupational pension schemes a 54 page 'scheme return form' tomorrow , with schemes having to submit information to the regulator, in order for it to determine which firms pose a potential risk to members' benefits. Scottish Equitable says advisers should contact their corporate clients regarding the mailing exercise and help them complete the scheme returns before the end of the tight 31 August 2005 deadline. The Pensions Regulator says pension scheme trustees will be held responsible for completing the forms and returning them to the pension bod...