Regulator confirms use of powers on Telent pension scheme

The Pensions Regulator has published a Final Determination Notice that confirms its decision to appoint three independent trustees to the Telent (formerly Marconi) Pension Scheme.

This is as a result of a Determinations Panel hearing on 7 November, at which representations were heard from the Pensions Regulator, Pension Corporation, the Trustee Board of the GEC 1972 Plan (the Telent Pension Scheme), the Independent Trustees and Telent.

The hearing compulsorily reviewed the prior decision of 19 October to appoint three independent trustees under a special expedited procedure, set out in the Pensions Act 2004, which allows the regulator to appoint independent trustees without issuing a Warning Notice.

The Final Determination Notice may be viewed on the regulator's website. The reasons of the Determinations Panel are reserved and will be issued by 16 November 2007.