The Pensions Regulator (TPR) has revealed how it will raise the bar on trustees to address concerns that too many members are suffering financial detriment from poor stewardship.
Publishing a response to its 21st Century trusteeship and governance discussion paper today, the watchdog said it was determined to drive up trustee standards and "will not accept two classes of member"....
The sponsoring employers of the UK’s largest pension schemes may have to put an additional £40-£45bn into their schemes over the next decade, Lane Clark & Peacock (LCP) warns.
Caroline Kurup explores the latest TPR guidance on superfund transfers and what scheme trustees should be considering
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.
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
A second pensions bill is likely during the “life of this parliament”, according to pensions and financial inclusion minister Guy Opperman.