How trustees could be at risk from confusion over DC chair's statement
Trustees must be confident the new chair governance statements are accurate to avoid future liability, writes PP.
Trustees must ensure the new DC governance statements are accurate to avoid future liability, as they will be not scrutinised by the auditor. Stephanie Baxter looks at the potential risks and what trustees must do
At a glance Trustees must be aware the statement will not be subject to a full audit TPR expects trustees to check the statement against evidence Requires good timing, organisation and...
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Scheme sponsors face £100bn in costs under DB funding code and pensions bill rules, says LCP
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What trustees looking to transfer to superfunds should consider
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Schemes must meet three gateway principles for superfund transfers
Pension scheme trustees and sponsors should only seek to transfer members’ benefits to a defined benefit (DB) consolidator if there is no “realistic prospect of buyout in the foreseeable future”, The Pensions Regulator (TPR) says.
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Guy Opperman says two page, simpler statements as well as an annual ‘season’ in which to issue them could be transformative steps for the UK pensions industry
UPDATED: DWP to mandate use of simpler annual statements for auto-enrolment DC schemes
The Department for Work and Pensions is to make it mandatory for auto-enrolment defined contribution (DC) schemes to use simpler annual statements.
