Big UK Pension Scheme Gets Back On Track, Regulator Says
Law360, London (February 1, 2019, 3:50 PM GMT) -- Britain's pensions regulator said Friday that one of the country’s largest pension schemes has invested contributions from more than 350,000 members and set up monitoring systems after the watchdog accused it of “serious and persistent administrative failings."
Now: Pensions Ltd. has come under scrutiny by The Pensions Regulator, which accused it in in 2016 of failing to collect an estimated £18 million ($23.6 million) from more than 265,000 members.
The watchdog fined the scheme’s trustee £50,000 in November 2017 for failing to ensure that all employee and employer contributions were being collected and invested promptly. And it slapped the trustee with...
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