U.S. and U.K. Pension Agencies to Share Information
The Pension Benefit Guaranty Corp. will share non-confidential information on defined benefit plans with the U.K.’s Pensions Regulator and Pension Protection Fund under an agreement announced Wednesday, November 4.
The PBGC and the two British agencies will share "any unrestricted information that advances the security of defined-benefit plans sponsored by private-sector companies," the PBGC said in a statement.
The agreement "is formalizing an existing relationship that is increasingly important as the economy globalizes," a PBGC spokesman said.
The Pensions Regulator oversees U.K. corporate defined-benefit plans; the Pension Protection Fund insures the plans similarly to the PBGC in the U.S.