Last October, Chris Jackson posted on this blog about how the PPF’s power to disclaim onerous terms was concerning some banks which held derivative contracts with pension scheme trustees (see link). The PPF has taken some welcome steps to address these concerns. But are we ignoring an elephant in the room?
Archive for March, 2010
The PPF, onerous terms and ISDAs: from hedgehogs to elephants
Friday, 26 March 2010Penalties for poor records: a necessary evil or overkill?
Thursday, 11 March 2010The Pensions Regulator has kicked up a gear with proposals to stamp down on poor record keeping (see the Regulator’s February 2010 consultation paper on record-keeping, and here’s a good summary). Having spent time poring over the detail, I find myself torn on whether this is a good thing or not. Wouldn’t the world be a better place if all trustees had all the data they needed to pay benefits now and in the future and if records actually reflected people’s rights? But is it actually possible? And if it isn’t, does that mean that the world is wrong or the target is wrong? (more…)
