Government proposals to enable Pension Protection Fund compensation to be shared in the event of divorce will place administrative strain on the PPF, a consultant says.
Lane Clark & Peacock partner David Everett (pictured) says the Department for Work and Pensions (DWP) regulations - currently out for consultation - will increase the admin burden on the lifeboat fund due to additional information the PPF will have to supply to members. Everett says this included: supplying information to the court, calculating the value, and the subsequent split - all of which occupational trustees currently do in relation to pension sharing. "The existing requirements impose responsibilities on the managers of schemes - trustees - and it appears these responsibiliti...
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