Regulator enters pensions debate

The Pensions Regulator has told the trustees of YMCA England's pension plan to seek independent mediation to stem a rebellion from a group of local YMCAs over its £22m pension deficit.

The regulator has written to the YMCA Pension Plan Trustee, which runs the plan, suggesting it should try mediation to patch up the dispute.

A small group of YMCAs, led by Hastings & Rother YMCA, are refusing to pay the thousands of pounds the trustee says is necessary to plug a gap in the plan (14 May, page 3).

The regulator said it was unlikely to try to force local YMCAs to pay.

Hastings and Rother's solicitor criticised the trustee for taking a threatening stance on the matter. However, Paul Smillie, company secretary for the Pension Plan Trustee, denied it had been heavy-handed.

Have you registered with us yet?

Register now to enjoy more articles and free email bulletins

Already registered?
Sign in

Before commenting please read our rules for commenting on articles.

If you see a comment you find offensive, you can flag it as inappropriate. In the top right-hand corner of an individual comment, you will see 'flag as inappropriate'. Clicking this prompts us to review the comment. For further information see our rules for commenting on articles.

comments powered by Disqus