All Plumbing Pension Scheme articles
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NewsFormer TPR director served with summons over Section 75 debacle
On the go: Alan Pickering, formerly a non-executive director of the Pensions Regulator and former chair of Plumbing Pensions, has been added to the summons in an employer’s £256,000 claim against the scheme’s trustee over its mishandling of Section 75 debt.
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NewsDramatic governance shift in store for Plumbing Pensions
Dramatic governance shift in store for Plumbing PensionsPlumbing scheme chairman admits scheme failures and pledges structural overhaulEnterkeywords.sh_embed {position: relative;height: auto;width:100%;z-index: 0;overflow: hidden;background-color: #222;color: white;font-family: 'Lato', 'Helvetica Neue', Helvetica, Arial, sans-serif;}.sh_embed * {-webkit-box-sizing: border-box;-moz-box-sizing: border-box;box-sizing: border-box;}.sh_embed .sh-embed-bg {position: absolute;width: 110%;height: 110%;top: -5%;left: -5%;z-index: -1;background-color: rgba(0,0,0,.8);}.sh_embed #embed_article {display: none;}.sh_embed .sh-embed-img {display: block;zoom: ...
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NewsPlumbing scheme announces independent governance review
The Plumbing & Mechanical Services (UK) Industry Pension Scheme is to carry out an independent review of its governance structures, after sustained criticism from the scheme's small employers and a court case over its handling of orphan liabilities.
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TPR in discussions with Plumbing trustees over governance failures
The Pensions Regulator has been in discussions with the trustees of the Plumbing and Mechanical Services Industry Pension Scheme, who face criticism for governance failures amid a long-running debacle that could send plumbers into bankruptcy.
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Plumbers’ scheme braced for legal battles over employer debts
Trustees of the £2bn Plumbing and Mechanical Services (UK) Industry Pension Scheme have asked a Scottish court to let them use plan assets to fund legal battles, after an unnamed participating employer commenced action against the fund.
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Calls for next government to revive multi-employer schemes bill
On the go: The boss of a small Scottish plumbing company hit with a £1.2m pensions bill is calling for the next government to revive a 2018 proposal, which would end the current issues affecting sponsors of the Plumbing and Mechanical Services Industry Pension Scheme.
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NewsPlumbers call for trustee chair to resign over pensions debacle
An action group is calling for the resignation of Alan Pickering CBE as chairman of the Plumbing and Mechanical Services Industry Pension Scheme.
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Scottish plumber’s plight highlights ongoing Section 75 issue
The boss of a small Scottish plumbing company is the latest to receive a bill of more than £1m to cover a shortfall in a multi-employer defined benefit scheme.
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Plumbers’ scheme set to close to future accrual
On the go: The multi-employer defined benefit scheme for the plumbing industry will close to future accrual from June 30, despite an apparently healthy funding level.
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SNP bill seeks PPF support for orphan liabilities
A private members’ bill submitted by Scottish National Party MP Alan Brown last week could see the Pension Protection Fund taking on so-called orphan liabilities from multi-employer pension schemes.
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Discrimination, indexation and tax relief's survival: Top law and regulation stories from 2016
Year in review: As if Brexit didn’t pose enough challenges, regulators, lawyers and two successive pensions ministers have had a lot on their plate in 2016.
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FeaturesPlumbing scheme plans to seek guidance from Scottish courts as government drags feet on s75
Plumbing Pensions’ prolonged consultation with a departing employer over its exit fee has brought to light fundamental problems with section 75 debt legislation as it currently stands for non-associated multi-employer schemes.
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Features
Plumbing scheme offers lower contribution rate to tempt employers
The Plumbing and Mechanical Services Industry Pension Scheme will offer a lower contribution scale to new employers joining the career average scheme, to help it compete with defined contribution arrangements.
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Plumbing scheme ramps up property exposure
The Plumbing and Mechanical Services Industry Pension Scheme is to expand its property investment for the second year running, as investors return to traditional commercial property in their hunt for value.
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NewsIndustry to meet ministers over impact of UK split
News analysis: Industry figures will meet with ministers next month to flesh out how a split UK pensions system could work in the event of a yes vote for Scottish independence.