Pensions Regulator responds to DB scheme return fears

Professional Adviser
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The Pensions Regulator has responded to a warning made last week by Scottish Equitable stressing defined benefit schemes could face a fine of up to £50,000 for failing to return occupational pensions audit information by 31 August.

ThePensions Regulator is issuing a 54-page 'scheme return' to 8,000 occupational pension schemes requesting information be submitted to the Regulator, in order for it to determine which firms pose a potential risk to members' benefits. Heidi Whittington, customer support at the Pensions Regulator, comments: "It is worth mentioning that, although the scheme return is 54 pages, appearances can be deceptive and it is not as big as it looks! "The scheme return has been produced in relatively large print and much of it relates to contact details for the various parties involved in the manage...

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