Budget 2013: TPR given 'employer growth' objective

In the Budget, Osborne confirmed TPR will have a new objective to "have regard for the growth prospects of employers". This will sit alonsige TPR's other objectives to protect members and the Pension Protection Fund. The move comes amid concerns ballooning pension deficits are hampering businesses' investment in the economy. TPR chairman Michael O'Higgins said: "In light of the government's proposal for a new objective to take account of the sustainable growth plans of the sponsoring employer, we will make the changes required, building on the 2004 funding regime, as part of a revi...