Bosses who play 'fast and loose' with pensions face seven years in prison

Fines of up to £1m

James Phillips
clock • 3 min read

Company directors who deliberately or recklessly put their workers' pension funds at risk face seven years in prison under plans to crack down on "acts of astonishing arrogance and abandon".

Secretary of state for work and pensions Amber Rudd has said that those who engage in "wilful or reckless behaviour relating to pensions" will face the custodial sentence, or an unlimited fine, if found guilty of the offence. The plans were confirmed as the Department for Work and Pensions (DWP) today (11 February) published a response to its consultation on widening the powers of The Pensions Regulator (TPR). The document outlines an additional 10 powers for the watchdog, including knowingly or recklessly providing false information to TPR or trustees, and failure to comply with a re...

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James Phillips
Author spotlight

James Phillips

Professional Pensions journalist from 2016-2022

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