Pensions regulator eyes M&A veto power

CEO's comments follow BHS collapse

Carmen Reichman
clock • 1 min read

The Pensions Regulator (TPR) wants to be given greater powers to block merger deals involving companies with stressed pension schemes, its chief executive has said.

Lesley Titcomb (pictured) told the Financial Times a new power to veto mergers and acquisitions in certain circumstances could better protect the 11 million members of final salary schemes in the private sector. She urged the government to act quickly to tackle weaknesses in the system after problems with defined benefit (DB) pensions were exposed in a recent parliamentary probe into the failure of BHS. The Work and Pensions Committee is currently debating the regulation of defined benefit pension schemes and whether the regulator should be handed extra powers. BHS' collapse left a...

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

IHT pensions changes expected to drive 'strong interest' in annuities

IHT pensions changes expected to drive 'strong interest' in annuities

Though ‘ambiguity’ persists on annuities treatment, retirement planning expert says

Jen Frost
clock 04 November 2024 • 3 min read
Budget end to overseas pensions 'loophole' could cause 'chaos'

Budget end to overseas pensions 'loophole' could cause 'chaos'

OTC applies to more transfers under changes

Jen Frost
clock 31 October 2024 • 2 min read
Pensions tax-free cash untouched – but what about those who acted pre-Budget?

Pensions tax-free cash untouched – but what about those who acted pre-Budget?

No lump sum change should be ‘welcomed’ but damage cannot be undone

Isabel Baxter
clock 31 October 2024 • 5 min read