NAPF today commented on the publication this week by the Takeover Panel of consultation papers setting out proposed changes to the Takeover Code.
Darren Philp, NAPF Director of Policy, said:
“This is a welcome step. The Panel agrees with us that some of the powers that relate to employees should be extended to trustees of the company pension scheme.
“If implemented this would enable trustees to get much more information about the bidder’s intentions for the pension scheme.
“This is important as it gives trustees the information that they need, empowering them to ask the right questions and effectively represent the interests of those in the company scheme, both savers and pensioners.”