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Want to protect pensions? You need proper regulation

The chair of the work and pensions committee says new government plans come years of pain—and thousands of dashed retirement plans—too late

By Frank Field   April 2019

Work and Pensions Secretary Amber Rudd. Photo: REX SHUTTERSTOCK

The Department for Work and Pensions has announced that it will be a criminal offence, with the possibility of serious jail time, for directors to wilfully or recklessly risk their company pension scheme. While this is a hugely welcome move, especially so early in Amber Rudd’s tenure, it does raise the perennial question: when will this policy begin to work? The answer: years of pain and tens of thousands of dashed retirement plans too late.

The Work and Pensions Committee,…

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