Directors could be struck off for failing to protect pensions, says PM
Directors could be fined or struck off if they fail to protect pension schemes, according to a policy announcement by prime minister Theresa May.
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The behaviour and ethics of company directors moved centre-stage in the UK general election yesterday, when prime minister Theresa May announced plans to protect pensions from "irresponsible" bosses.
Directors found to have left a scheme under-funded could face fines or be struck off.
May said that in future, companies involved in a takeover or merger will have to tell the country's pensions regulator, which will "apply certain conditions".
A statement from the Conservative Party said the regulator could be given new powers to block takeovers if the companies involved fail to provide assurances for the future of pension schemes.
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