In an article for International Corporate Rescue, Samantha Brown and John Whiteoak, examine the Pensions Regulator’s draft policy on investigating and prosecuting the new pensions criminal offences which are due to come into force this Autumn. The article highlights various points which the authors hope will be addressed in the final policy, including the mixed messages contained in the draft policy and the uncertainty which continues to surround the scope of these new powers.
Without these changes the new offences (and the other regulatory sanctions to be introduced under the Pension Schemes Act 2021) may negatively impact corporate activity and investment in companies with UK defined benefit pension schemes. They may also inhibit attempts to restructure such businesses at a time when flexibility and pragmatism will be needed.
This article first appeared in Volume 18, Issue 3 of International Corporate Rescue and is reprinted with the permission of Chase Cambria Publishing – www.chasecambria.com.
If you have any queries about how these new powers may impact your business or scheme speak to your usual HSF adviser or contact one of our specialists.