Prime minister Theresa May has handed the Pensions Regulator extra powers to punish companies that ‘shirk’ their defined benefit (DB) scheme responsibilities.

A government white paper published yesterday set out plans to make it easier for the Pensions Regulator to step in when it detects a problem, following the collapse of pension schemes connected to BhS, Carillion and British Steel.

But the plans lack a manifesto pledge to give the Pensions Regulator the power to stop mergers or takeovers that threaten the solvency of a UK retirement fund.

It seems there may be more work to do in this area.