Takeover Proposals Are Good News for Trustees
06 July (PLANSPONSOREurope.com) - Proposed changes to rules governing UK company takeovers could help trustees gain more information about the potential new plan sponsor’s intentions about current pension schemes, according to the National Association of Pension Funds.
This week the Takeover Panel published consultation papers setting out proposed changes to the Takeover Code.
NAPF Director of Policy Darren Philp said: “This is a welcome step. The panel agrees with us that some of the powers that relate to employees should be extended to trustees of the company pension scheme.
“If implemented this would enable trustees to get much more information about the bidder’s intentions for the pension scheme.
“This is important as it gives trustees the information that they need, empowering them to ask the right questions and effectively represent the interests of those in the company scheme, both savers and pensioners.”