The UK Pensions Regulator is to reinforce pension fund trustees' powers during mergers and acquisitions in a move that has drawn a mixed reception among company advisers, which say the new guidelines could create conflict and confusion.

The regulator's new guidance, released yesterday, is intended to clarify how it will use its powers over corporate transactions. The regulator is charged with safeguarding pensions in the event of company takeovers, mergers or disposals.