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Pensions Watchdog To Get More Power In Gov’t Plan

admin October 14, 2019 Royal Mail Leave a comment 170 Views

Law360, London (October 14, 2019, 4:07 PM BST) — The British government plans to give the country’s pensions watchdog great powers to crack down with tougher sentences and new offenses for executives, part of a wide-ranging suite of reforms unveiled in the queen’s speech Monday.

Under the bill set to be presented to Parliament, the Pensions Regulator will be able to hand out tougher sentences for company bosses who abuse pension rules. New criminal offenses will be introduced against employers who are reckless with their worker’s savings. The most serious punishment will carry a maximum sentence of seven years’ imprisonment and a civil penalty of up to £1 million ($1.3…

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