UK - The Pension Protection Fund (PPF) said it would be opposed to any possible merger between itself and the Pension Regulator.
Gazelle pension advisory MD Paul Thornton yesterday discussed the possibility of merging the two pension regulatory bodies.
Thornton, appointed by the government to independently review UK pension regulation, said in a report: “A single organisation for those affected by pension regulation and compensation would make for simplicity and better accountability, enabling better communications with users.”
The report also highlighted how the two bodies had complementary and overlapping expertise in working with pension schemes at a micro and macro level.
But Thornton also highlighted how a merger could create conflict of interest issues and cost burdens.
Reacting to the news, a PPF spokesman said: “We are opposed to a full scale merger with the Pensions Regulator, but they will have their own view, as will the Department of Work and Pensions after considering all the evidence in the review.”
He also stressed Thornton’s report was merely a consultation document and no merger agreements had been made at this stage
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