Search
Close this search box.

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

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 scheme
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.

Read more

Latest News

Read More

Rise in recruitment fraud must urgently be checked

28 March 2024

Newsletter

Receive the latest HR news and strategic content

Please note, as per the GDPR Legislation, we need to ensure you are ‘Opted In’ to receive updates from ‘theHRDIRECTOR’. We will NEVER sell, rent, share or give away your data to third parties. We only use it to send information about our products and updates within the HR space To see our Privacy Policy – click here

Latest HR Jobs

University of Cambridge – Judge Business SchoolSalary: £32,332 to £38,205 pa, pro rata This provides summary information and comment on the subject areas covered. Where

University of Cambridge – Judge Business SchoolSalary: £29,605 to £33,966 pa, pro rata This provides summary information and comment on the subject areas covered. Where

University of Oxford – Blavatnik School of GovernmentSalary: Grade 5: £28,759 – £33,966 per annum (with a discretionary range to £37,099) This provides summary information

Software Development Director (Exec Team Seat). Remote Working with Ellesmere Port Office-Based Minimum 1 Day Per Week. + Contribution towards membership fees. £120,000 – £140,000

Read the latest digital issue of theHRDIRECTOR for FREE

Read the latest digital issue of theHRDIRECTOR for FREE