DWP clarifies Pensions Regulator's power

News

The UK's Department for Work and Pensions (DWP) has stepped back from plans to ramp-up private equity firm's liability for pension deficits, and has instead restricted the Pensions Regulator's powers of intervention to block the transfer of company schemes to operators not regulated by the Financial Services Authority (FSA).

Though not explicitly named by the DWP, the extension of regulatory powers was prompted by conflict over Telent, the surviving rump of former UK electronics giant Marconi. Te