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Retired taking lion&#39s share of pensions on company insolvencies

Members who have not reached their normal retirement are losing out to those already retired in cases where their employer has become insolvent, according to Independent Trustee Services director Terry Monk.

ITS says it supports the regulation of independent trustees of pension funds and is calling upon Opra to work with the Association of Corporate Trustees to fight the cause of regulation.

Monk says: “The job of an independent trustee s to oversee the winding up of a scheme, securing the maximum value for all members within the legislative framework.”

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Neil Jones is technical support manager with Canada Life’s ican Technical Services Team. Canada Life offers a range of wealth management solutions, including retirement income planning, estate planning and investment solutions from a choice of jurisdictions, including the UK, Isle of Man and Republic of Ireland. The residential nil-rate band (RNRB) was first announced in […]

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