Pensions regulator relaxes rules as gilt yields hit schemes

clock

The Pensions Regulator (TPR) has moved to relax rules governing some UK pension schemes as low gilt yields are leaving hundreds underfunded.

Employers will be given extra time to top up the schemes and will also be able to pledge assets such as property to shore them up. Without this help, TPR fears the schemes involved could be closed down. TPR acknowledged that poor returns on gilts, in which many pension schemes are invested, were driving up measures of liabilities. But the organisation also had a strong warning for employers that were underfunding schemes or cutting back recovery plans where affordability is not an issue. TPR chief executive Bill Galvin said: "The economic climate continues to be challenging, but...

To continue reading this article...

Join Professional Adviser for free

  • Unlimited access to real-time news, industry insights and market intelligence
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection
  • Members-only access to the editor’s weekly Friday commentary
  • Be the first to hear about our events and awards programmes

Join

 

Already a Professional Adviser member?

Login

More on Pensions

Labour scrapping higher rate pensions tax relief is 'politically unlikely'

Labour scrapping higher rate pensions tax relief is 'politically unlikely'

Despite being ‘potentially lucrative’

Isabel Baxter
clock 30 September 2024 • 4 min read
Failed Hartley Pensions clients face months-long SIPP transfer document delays

Failed Hartley Pensions clients face months-long SIPP transfer document delays

Frustrated client notes that communications were promised from April to June

Isabel Baxter
clock 29 August 2024 • 3 min read
British Steel pensions transfer advice debacle in numbers

British Steel pensions transfer advice debacle in numbers

‘The FCA continues to pursue those who gave poor advice’

Isabel Baxter
clock 29 July 2024 • 3 min read