PM pledges tough rules to tackle pensions abuse

23 January 2018

Irresponsible company bosses who “line their own pockets” while failing to protect workers’ pension schemes are to be hit with huge fines, under plans to be announced by Theresa May’s government within weeks.

Writing in the Observer after a week which saw the collapse of Carillion, with a deficit in its pension scheme of up to £900m, the prime minister says her government will act urgently to stamp out “abuse”.

Other measures being considered for inclusion in a white paper in March would give regulators new powers to block or place conditions on takeovers that are deemed to put pension schemes at risk. The regulator will also be given the power to request information about how companies run schemes.