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Pensions Update

Continuing our regular feature the Pensions team at Norton Rose bring us a pensions update
Pensions Bill — Government vacillates over 'moral hazard' provisions
The Government appears to be in two minds about the controversial moral hazard provisions in the Pensions Bill torn between the concerns of industry leaders and the need to protect the Pension Protection Fund (PPF).
It was understood on 9 July that the Government had decided to suspend the controversial provisions acknowledging the widespread concern that they would discourage corporate restructuring especially corporate takeovers.
The provisions which were drafted to prevent employers from avoiding their pension obligations through financial engineering would have given the new regulator...

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