Personnel Today
  • Home
    • All PT content
  • Email sign-up
  • Topics
    • HR Practice
    • Employee relations
    • Learning & training
    • Pay & benefits
    • Wellbeing
    • Recruitment & retention
    • HR strategy
    • HR Tech
    • The HR profession
    • Global
    • All HR topics
  • Legal
    • Case law
    • Commentary
    • Flexible working
    • Legal timetable
    • Maternity & paternity
    • Shared parental leave
    • Redundancy
    • TUPE
    • Disciplinary and grievances
    • Employer’s guides
  • AWARDS
    • Personnel Today Awards
    • The RAD Awards
  • Jobs
    • Find a job
    • Jobs by email
    • Careers advice
    • Post a job
  • Brightmine
    • Learn more
    • Products
    • Free trial
    • Request a quote
  • Webinars
  • Advertise
  • OHW+

Personnel Today

Register
Log in
Personnel Today
  • Home
    • All PT content
  • Email sign-up
  • Topics
    • HR Practice
    • Employee relations
    • Learning & training
    • Pay & benefits
    • Wellbeing
    • Recruitment & retention
    • HR strategy
    • HR Tech
    • The HR profession
    • Global
    • All HR topics
  • Legal
    • Case law
    • Commentary
    • Flexible working
    • Legal timetable
    • Maternity & paternity
    • Shared parental leave
    • Redundancy
    • TUPE
    • Disciplinary and grievances
    • Employer’s guides
  • AWARDS
    • Personnel Today Awards
    • The RAD Awards
  • Jobs
    • Find a job
    • Jobs by email
    • Careers advice
    • Post a job
  • Brightmine
    • Learn more
    • Products
    • Free trial
    • Request a quote
  • Webinars
  • Advertise
  • OHW+

Latest NewsPay & benefitsPensions

Pensions regulator tells trustees to curb employers dumping their pension scheme

by Emma Ann Hughes 9 Oct 2006
by Emma Ann Hughes 9 Oct 2006


Pension scheme trustees have been told by the regulator to crack down on employers trying to dump their pension schemes.


Tony Hobman, chief executive of the Pensions Regulator, said the occupational pension watchdog was worried new ways of managing pension funds could lead to employers abandoning their pension schemes.


Speaking today, Hobman warned the occupation pension watchdog viewed transfers of pension schemes to new vehicles as possibly resulting in employers abandoning schemes without fully meeting their obligations to members.


He said: “Trustees should apply a high level of scrutiny to any such transactions which are brought to them.


“They must presume from the start that it is unlikely to be in the best interests of their members to break the link with an employer of substance, except by paying the cost of buying out the benefits with a regulated insurance company.


“Once the link to any employer is removed the trustees will have lost an important backstop to protect scheme members if the pension fund runs into difficulties in the future.”


Hobman added while the regulator welcomed innovation in the way pension schemes are managed he believed the best way to deliver benefits to members was normally for schemes to have the continued support of a viable employer.


The regulator is now planning to consult on this issue by the early part of 2007.


It will also consult on new guidance to help scheme trustees weigh up the proper value of the support given to a fund by an ongoing employer, when considering corporate transactions which would remove that support.


Sign up to our weekly round-up of HR news and guidance

Receive the Personnel Today Direct e-newsletter every Wednesday

OptOut
This field is for validation purposes and should be left unchanged.

Alongside Hobman’s speech to pension experts a statement on the abandonment of pension liabilities was also issued today by chairman of the Pensions Regulator, David Norgrove.


 

Emma Ann Hughes

previous post
Interviewers get too personal with job seekers
next post
Identity and Passport Service staff prepare to strike over pay dispute

You may also like

Top 10 HR questions June 2025: Redundancy consultation

2 Jul 2025

Aircrew with cancer pursuing MoD for compensation –...

2 Jul 2025

Living wage pushes up spring pay settlements

2 Jul 2025

Third in north west fear ill health will...

2 Jul 2025

Government publishes ‘roadmap’ for Employment Rights Bill

2 Jul 2025

Four-day working: ‘We need to start treating people...

2 Jul 2025

Why bosses must set pay independently

2 Jul 2025

Ethnicity and disability pay gaps: Ready to report?...

1 Jul 2025

Government moves swiftly on immigration reform

1 Jul 2025

One in eight senior NHS managers from black...

1 Jul 2025

  • Empowering working parents and productivity during the summer holidays SPONSORED | Businesses play a...Read more
  • AI is here. Your workforce should be ready. SPONSORED | From content creation...Read more

Personnel Today Jobs
 

Search Jobs

PERSONNEL TODAY

About us
Contact us
Browse all HR topics
Email newsletters
Content feeds
Cookies policy
Privacy policy
Terms and conditions

JOBS

Personnel Today Jobs
Post a job
Why advertise with us?

EVENTS & PRODUCTS

The Personnel Today Awards
The RAD Awards
Employee Benefits
Forum for Expatriate Management
OHW+
Whatmedia

ADVERTISING & PR

Advertising opportunities
Features list 2025

  • Facebook
  • Twitter
  • Instagram
  • Linkedin


© 2011 - 2025 DVV Media International Ltd

Personnel Today
  • Home
    • All PT content
  • Email sign-up
  • Topics
    • HR Practice
    • Employee relations
    • Learning & training
    • Pay & benefits
    • Wellbeing
    • Recruitment & retention
    • HR strategy
    • HR Tech
    • The HR profession
    • Global
    • All HR topics
  • Legal
    • Case law
    • Commentary
    • Flexible working
    • Legal timetable
    • Maternity & paternity
    • Shared parental leave
    • Redundancy
    • TUPE
    • Disciplinary and grievances
    • Employer’s guides
  • AWARDS
    • Personnel Today Awards
    • The RAD Awards
  • Jobs
    • Find a job
    • Jobs by email
    • Careers advice
    • Post a job
  • Brightmine
    • Learn more
    • Products
    • Free trial
    • Request a quote
  • Webinars
  • Advertise
  • OHW+