UK to launch new rules to secure pensions| MENAFN.COM

Thursday, 27 January 2022 08:30 GMT

UK to launch new rules to secure pensions


(MENAFN) The Guardian has reported the UK's Prime Minister to be planning to set up new regulations for employee pension funds to be protected in case companies could not fulfill the mission.

The Guardian reported Theresa May stating "my government is making sure the pensions regulator has the powers it needs to crack down on the minority of businesses who shirk their responsibilities."

She reportedly added "the action we are taking will ensure that the majority of responsible employees, employers and pension schemes will no longer have to bail out the irresponsible few."

The plan was also said to target negligent directors who usually mishandle employee pension funds.

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