We use cookies on this site to enable your digital experience. By continuing to use this site, you are agreeing to our cookie policy. close

Pension Scheme Trustees Fined For Failing To Invest £1.4M

Law360, London (October 11, 2018, 1:32 PM BST) -- Four pension scheme trustees have been fined for failing to promptly invest £1.4 million ($1.85 million) on behalf of more than 9,000 workers, the U.K. pensions regulator said on Thursday.

Trustees for Salvus Master Trust have been fined a total of £5,000, the maximum amount permitted by law, after they breached their legal duties between April 2015 and October 2016, The Pensions Regulator said.

“Pension schemes must collect and invest the contributions made by employers and employees,” Nicola Parish, executive director of frontline regulation at the regulator, said. “To have left so much money uninvested for this period of time is...

Stay ahead of the curve

In the legal profession, information is the key to success. You have to know what’s happening with clients, competitors, practice areas, and industries. Law360 provides the intelligence you need to remain an expert and beat the competition.


  • Access to case data within articles (numbers, filings, courts, nature of suit, and more.)
  • Access to attached documents such as briefs, petitions, complaints, decisions, motions, etc.
  • Create custom alerts for specific article and case topics and so much more!

TRY LAW360 FREE FOR SEVEN DAYS

Read the full article

Already a subscriber? Click here to login

Related

Sections