Pensions Schemes Bill published: new Pensions Regulator powers
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The new Pension Schemes Bill published today would, if enacted, significantly bolster the Pensions Regulator’s powers in relation to defined benefit pension schemes by introducing: new criminal offences, new civil penalties and changes to the current contribution notice regime. These could have major implications for corporate transactions and the mangement of defined benefit pensions liabilities. The Bill also introduces a number of other major changes (e.g. collective defined contribution schemes).
