Gov't Mulls Jail Terms For Pensions Mishandling

Law360, London (January 7, 2020, 5:04 PM GMT) -- Bosses who mishandle pension funds could face up to seven years in jail under a series of reforms included in the government’s long-awaited Pension Schemes Bill, which received its first reading in Parliament on Tuesday.

The legislation would create more powers for The Pensions Regulator to punish company bosses who “run pension schemes into the ground or plunder them to line their own pockets,” the Department for Work and Pensions said.

The bill also includes the introduction of an online pensions "dashboard” that would enable savers to keep track of their retirement funds more efficiently.

It also lays the groundwork for the...

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