EU pension scheme rules could hit UK

NEW pension rules being considered by the European Union could force UK employers to pay off deficits more quickly, according to City law firm Towers Watson.

The European Commission wants to revise rules on the funding of pension schemes, making them equal across member states.

Towers Watson warned that the future of some UK companies could be under threat if they were forced to divert more cash into their pension funds.

John Ball, head of UK pensions, said: “The Commission’s position may well change the way that funding targets are calculated but it’s too early to conclude that it will make them more prudent overall.”