Trustees to oversee asset cover under EU directive

pensions

eu rules to overrule government's proposed amendments to occupational schemes

Occupational pension trustees will have to ensure schemes have sufficient and appropriate assets to cover liabilities at all times, under an EU directive the UK must adopt. The Department of Work and Pensions has started consulting on the way in which the UK adopts into law the directive, which will allow for cross-border occupational pension schemes. There is a two-year timeframe for the UK to adopt the rules which will overrule some of the Government's already planned changes to occupational schemes covered in its Green paper issued last December. The DWP has previously stated the UK i...