RSS Feed

Legal Updates

More Articles: Latest Popular Archives

Up to seven years in jail for reckless mishandling of pension schemes

Makbool Javaid
care

The Government’s response to the consultation on protecting defined benefit pension schemes indicates an intention to introduce a new criminal offence to prevent and penalise scheme mismanagement. The measure will target individuals who wilfully or recklessly mishandle pension schemes, endangering workers’ pensions, by such things as chronic mismanagement of a business; or allowing huge unsustainable deficits to build up; or taking huge investment risks; or a combination thereof. Those convicted face a term of up to seven years’ imprisonment or an unlimited fine. 


The updates are kindly provided by Simons Muirhead & Burton Law firm

This update provides summary information and comment on the subject areas covered. Where employment tribunal and appellate court cases are reported, the information does not set out all of the facts, the legal arguments presented and help judgments made in every aspect of the case. Click on the links to access full details. If no link is provided, contact us for more information.  Employment law is subject to constant change either by statute or by interpretation by the courts. While every care has been taken in compiling this information, SM&B cannot be held responsible for any errors or omissions. Specialist legal advice must be taken on any legal issues that may arise before embarking upon any formal course of action.

Receive more HR related news and content with our monthly Enewsletter (Ebrief)