Seven-year jail terms unveiled for pension fund mismanagement

MPs and experts welcome new criminal offence to punish ‘wilful or reckless’ behaviourMPs and pension experts have welcomed government plans to introduce lengthy jail sentences for executives who recklessly mismanage pension funds, in an effort to avoid a repeat of recent scandals like BHS or Carillion.Amber Rudd, the work and pensions secretary, said the current fines were not enough and that a new criminal offence would be introduced to punish “wilful or reckless behaviour&rdq