Law and Regulation

The twin regulatory regime governing the pensions landscape could end up confusing scheme members over their at-retirement choices after April, experts say.

The Pensions Regulator (TPR) has banned two trustees from practice after they took part in an £11m liberation scam.

The next government should establish an independent pensions commission as soon as possible after the May general election, MPs have urged today.

The Association of Member Nominated Trustees (AMNT) has launched an initiative to give schemes more control over the companies they invest in.

Increased consumer choice under pensions freedom coupled with greater potential fraud risk has increased the argument for a single pensions regulator, MPs have said.

Providers have said a charge cap on income drawdown, as proposed by Labour leader Ed Miliband, is "unnecessary" and a "solution to a problem that does not even exist".

While the Budget flexibilities have been largely welcomed there remains one key area of concern for trustees – defined benefit (DB) to defined contribution (DC) transfers.

Delaying the tightening of pension transfer regulation until after the April pension freedoms could result in two months of confusion and poor decisions, it has been said.

Michael Johnson has proposed that retirees are defaulted into drawdown after research by PP found little support for his original call for a default option of index-linked annuities.

The Pensions Regulator (TPR) has published draft guidance on how trustees should communicate freedom and choice to scheme members.