15 August 2008
The Pensions Regulator has used its powers to replace a firm of
independent trustees, GP Noble, over concerns raised by the Pension
Protection Fund (PPF) about the way GP Noble was acting.
GP Noble was responsible for the running of 29 schemes,
including the Berry Birch & Noble Staff Pension Fund which has
been going through a period of assessment by the PPF to see if the
rescue fund would take it in.
GP Noble have been replaced by Independent Trustee Services.
The Regulator has not commented further, but has stressed that
members' benefits are not at risk.
The Pensions Regulator has two key duties: to reduce risks to
pension scheme members, and to reduce risks to the Pension
Protection Fund.
