The National Association of Pension Funds (NAPF) commented on today’s publication by The Pension Regulator of guidelines on Financial Support Directions (FSDs) and insolvency.
Darren Philp, NAPF Director of Policy, said:
“This can be a contentious and confusing issue, and it’s good to see the Regulator lay down some guidelines on its approach.
“The Regulator says it is alive to the concerns that have been raised, and stresses it will take account of directly affected parties. We hope this will help calm fears that will inhibit legitimate insolvency or restructuring. However, the real test will be how the Regulator responds to individual cases that arise in the future.”
Notes to editors:
1. The NAPF is the leading voice of workplace pensions in the UK. We speak for 1,200 pension schemes with some 15 million members and assets of around £800 billion. NAPF members also include over 400 businesses providing essential services to the pensions sector.
Paul Platt, Head of Media and PR, NAPF, 020 7601 1717 or 07917 506 683, [email protected]
Christian Zarro, Press Officer, NAPF, 020 7601 1718 or 07825 171 446, [email protected]