Enhanced powers for The Pensions Regulator (TPR) to prosecute and fine company directors who "wilfully or recklessly" put their defined benefit (DB) pension scheme at risk will be hard to enforce, commentators say.
The powers, confirmed in a white paper published by the Department for Work and Pensions (DWP) today, could also see company directors disqualified, with the watchdog using strengthened anti-avoidance powers. These will be introduced and used, while ensuring they do not have an "adverse effect on legitimate business activity and the wider economy", the DWP said. Alongside this, the notifiable events framework will be reviewed to ensure it covers all relevant transactions, and amended to ensure TPR is aware of potential events earlier in the process. TPR powers The powers have exp...
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