Pensions regulator eyes M&A veto power

Lesley Titcomb (pictured) told the Financial Times a new power to veto mergers and acquisitions in certain circumstances could better protect the 11 million members of final salary schemes in the private sector. She urged the government to act quickly to tackle weaknesses in the system after problems with defined benefit (DB) pensions were exposed in a recent parliamentary probe into the failure of BHS. The Work and Pensions Committee is currently debating the regulation of defined benefit pension schemes and whether the regulator should be handed extra powers. BHS' collapse left a...