Business wins one back over Pension Bill

The Department for Work and Pensions has made several changes to the 'moral hazard' clause, which potentially lets employers shift the burden of provision to the planned Pension Protection Fund for certain occupational schemes. Amendments seek to ensure individuals, including shareholders and company directors, will not be held liable for any pension deficits. Pensions Minister Malcolm Wicks says the moral hazard clause in the Pensions Bill makes clear to ‘unscrupulous’ employers “they can’t use company structures and business transactions as a cover for avoiding their pensions obligatio...