On Monday, in its response to the consultation on protecting DB pension schemes and strengthening the Pensions Regulator, the Government confirmed its plans to: introduce a new criminal offence of wilful or reckless behaviour in relation to a defined benefit (DB) pension scheme (aimed at company directors) give the Pensions Regulator the power to issue … Read more
This is one of the questions posed by the DWP in its consultation on the Pensions Ombudsman's dispute resolution powers and jurisdiction issued just before Christmas. The consultation lacks detail on what is meant by mediation, simply suggesting that provision should be made for an Early Resolution Service and to allow the Pensions Ombudsman to ‘mediate’ and ‘resolve’ complaints and disputes before a determination.It is important that this consultation is taking place now, because the role of the Pensions Ombudsman's service is evolving. Read more
While all the talk at Westminster over the past few weeks has been about “legal backstops”, judging from the consultation on DB consolidation, the talk at Caxton House has clearly been about “regulatory gateways”. Whilst the constitutional significance of these two legal mechanisms cannot be compared, there are a few striking similarities worth drawing out Read more
In the first of what will likely be a number of consultations following the Government’s White Paper, “Protecting Defined Benefit Pension Schemes”, the Department for Work and Pensions (DWP) has launched its consultation on extending the Pension Regulator’s enforcement powers and the notifiable events regime (available here). Should the proposals be introduced as currently outlined, … Read more
