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Jade Murray, Pensions Partner at Addleshaw Goddard stated: "Whether this will change anything for pensions will depend on two things. One, whether the Pensions Regulator takes action against anyone involved in the saga, and whether that in turn makes companies fund their pension schemes better during the times when they can afford to. |
And two, where Frank Field's parliamentary enquiry gets to and whether the proposals he is already hinting at, to restrict companies from paying dividends unless their scheme funding improves or trustees agree, are supported by the government of the day. Where the government gets to on its consultation on tackling the deficit in the British Steel pension scheme could also play a part, if the law is changed to provide alternative options for keeping big schemes with big deficits out of the PPF." |
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