Trustees of pension schemes are fleeing tough new rules, while the new pension regulator has been sharply criticised by one of the country's biggest pension funds, today's papers report.
The Times writes that measures coming into force on 6 April next year are scaring potential volunteers away from trustee duties. The actuarial profession is warning this could scupper government plans for half of all trustees to be scheme member nominated by 2009. ”Under the new Pensions Act, trustees are expected to have an in-depth knowledge and understanding of both the pension scheme and the company supporting it. Trustees are also expected to negotiate far more aggressively with the company over its contributions to the scheme and to examine any changes in the company’s structure ...
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