Big Four to limit liability
Four of the Big Five accountancy firms say they plan to take advantage of new rules which came into force on 6 April allowing professional services firms to adopt limited liability partnership (LLP) status, which protects them against negligence claims. Andersen, the fifth of the Five, says it welcomes the proposals but that it will not be amongst the first wave of firms to convert.
New pensions ignored
Nearly two-thirds of employers don’t propose to set up a stakeholder pension scheme, despite new regulations, says consulting actuary Punter Southall & Co. The survey of the largest 250 companies in the UK also found that few realised the scheme was applicable to contractors and temporary staff.
Old pensions ignored, too
Almost two-thirds of companies that have gone through an MBO say that the pension scheme was either not important or not even mentioned during buy-out negotiations, according to a study by asset management services group SEI Investments, and City University Business School.
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