TPR warns companies not to abandon schemes

A statement issued by David Norgrove, the chairman of the Pensions Regulator, reveals the watchdog is starting to see a number of “proposed corporate transactions involving pensions schemes where the primary intent is for the employer to abandon the pensions scheme”. The Regulator says while it is “keen to see innovative thinking being applied to the way pension schemes manage their funds”, it says it does not consider “abandonment of a scheme by its employers is usually likely to be in the best interests of scheme members unless the section 75 debt is paid”. Proposals which could seem ...