Increasing regulation, the threat of government intervention and recent court decisions mean that defined benefit pension schemes are proving to be a real liability for employers, says Rosalind Connor, partner at ARC Pensions Law
The latest government announcement on the regulation of pensions on 11 February involved Amber Rudd, Secretary of State for Work and Pensions, telling employers of defined benefit pension schemes that ‘we’re coming for you’. This was accompanied by the Department for Work and Pensions (DWP) response to the consultation it launched last summer on increasing the powers of the Pensions Regulator to protect these pension schemes, in effect saying that these changes would be enacted in a Pensions Act expected this year.
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