Pensions Regulator determinations panel publishes reasons for Telent decision

Resource type: Legal update: archive

Status: Published on 21-Nov-2007

Jurisdictions: England, Scotland, Wales

On 16 November 2007, the determinations panel of the Pensions Regulator published its reasons for upholding its decision to appoint three firms of independent trustee to the Telent pension scheme. The panel concluded that the appointment was necessary under section 7(3)(c) of the Pensions Act 1995 to secure the proper use or application of the scheme assets. It found that there was a realistic prospect that fundamental conflicts of interest might arise on the part of Pensions Corporation, who had mounted a takeover bid for Telent plc, given that Pensions Corporation intended to manage the scheme in such a way that would generate a return for its investors. The panel felt that the appointments were a balanced and proportionate response to the risks, given the Regulator's duty to have regard to members' interests.

PLC Pensions

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  • Resource ID: 9-378-9732
  • Published: 21-Nov-2007
  • Products:  PLC Law Department Email, PLC UK Pensions, PLC UK Public Sector
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