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Clifford Chance

Clifford Chance


New pensions regulator powers announced

17 October 2019

Criminal offence - conduct risking accrued scheme benefits

The Pension Schemes Bill 2019 covers a wide range of changes, but of key interest is likely to be the criminal offence of conduct risking accrued scheme benefits which carries with it a maximum custodial sentence of up to 7 years. This briefing discusses the rather surprising wording of the offence which goes beyond the criminal sanction that has previously been trailed by the Government, and notes some of the key concerns with the draft legislation.

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