Pensions Cos. Want Leniency As COVID-19 Takes Toll
Law360, London (November 10, 2020, 2:58 PM GMT) -- Most pension professionals believe the sector's watchdog should shift away from taking a tough line on employers amid rising corporate failures, according to a survey by law firm Herbert Smith Freehills LLP.
The poll, published Monday, revealed that 67% of professionals believe that The Pensions Regulator should focus on the sustainable growth of scheme sponsors rather than cracking down on them for failing to meet their obligations.
Figures published in October by the Office for National Statistics show that almost a fifth of companies in the food and accommodation sectors were at severe risk of insolvency.
"The regulator's tougher approach to...
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