Being pulled up short  

In May, I expressed my worries to the Pensions Regulator that the pension fund custodians, far from protecting pension funds, were gambling with assets committed to their safe keeping.   In December the Pensions Regulator reported back to me on their survey of Trustees and on Friday published a statement accepting the need for much more stringent control on the safety of fund and therefore pension assets.Robert Maxwell "borrowed" assets from the pension funds of the firms he owned and failed to repay them plunging funds into crisis.   Parliament responded by establishing custodians of funds so that no owner could misuse the ... ...