The UK Pensions Regulator has warned Smiths News, the country's largest wholesaler of newspapers and magazines, that it could face a financial claim over the underfunded pension scheme of the collapsed firm Tuffnells Parcels Express.
The regulator informed Smiths News last week that it is considering a financial support direction (FSD), a mechanism empowering it to demand financial backing for an underfunded pension scheme, even without evidence of wrongdoing.
