Employers warned not to cut pension contributions

The Pensions Regulator has issued a statement to employers sponsoring final salary pension schemes regarding its expectations during the economic downturn. The regulator's statement - issued to reiterate a message it sent to employers last year - said it recognises that the economic conditions are a concern to employers and reassures them that the current scheme funding regime was flexible enough to cope with the economic downturn. It said, where a sponsor company is under pressure, there was potential to renegotiate previously agreed plans to repair pension deficits. The regulator also...