DB pension reform plans will not stop next collapse
The UK government plan to give The Pensions Regulator teeth to fine and imprison individuals who endanger defined benefit schemes, has been branded slow and impractical.
The UK government plan to give The Pensions Regulator teeth to fine and imprison individuals who endanger defined benefit schemes, has been branded slow and impractical.
Blackrock has defended itself against charges from a parliamentary select committee that it was “schizophrenic” in its holdings of Carillion, taking both long and short positions.
The UK High Court has ruled that communications group BT cannot change a pension scheme from the retail price index (RPI) to the generally lower consumer price index, placing more significance on an imminent government white paper on defined benefit pension schemes, a legal expert says.
DeVere chief Nigel Green has warned lessons must be learned from the collapse of Carillion and the ‘inherent weaknesses’ of UK final salary pension schemes.
Just a day after Carillion entered liquidation, the Pensions and Lifetime Savings Association has warned that it has already seen signs that scammers are looking to exploit defined benefit (DB) scheme members.
Carillion’s investment story, like other firms before it, ultimately evolved into something that sounded too good to be true. Its collapse on Monday raises many questions, namely, at the stage it was in before entering liquidation, who would have even wanted to own it?
Carillion’s imminent liquidation and £587m (€660m, $805m) pension shortfall has put increased pressure on the UK Government to tackle the sustainability of defined benefit (DB) schemes in an up-coming white paper, according to an Old Mutual Wealth pensions expert.