Double counting and pensions
By Peter Shave
The Pensions Regulator issued a statement on 25 October 2013 warning against ‘double counting’ in defined-benefit pension schemes.
The Regulator is apparently dealing with a number of cases where section 75 debts on the one hand and regular contributions otherwise due on the other have been offset against each other.
The Regulator believes this fails to reflect the distinct funding obligations provided for in the legislation, posing significant risks for the schemes in question…
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