Pensions Consultant Warns Overhaul Could Double Deficits

Law360, London (September 3, 2020, 3:33 PM BST) -- The retirement savings watchdog should introduce a transition period for mature pension plans to switch to proposed new funding rules because otherwise their deficits could nearly double, a consultant has warned.

XPS Pensions said Wednesday that schemes could have to sell off assets at a time of uncertainty in the markets if they are to comply with the rules.

The company was responding to a consultation by The Pensions Regulator, which has proposed a new "twin track" route for defined benefit schemes to get regulatory sign-off.

The proposals, which were introduced in March and were under consultation until Wednesday, would mean...

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!


Related Sections

Hello! I'm Law360's automated support bot.

How can I help you today?

For example, you can type:
  • I forgot my password
  • I took a free trial but didn't get a verification email
  • How do I sign up for a newsletter?
Ask a question!