TPR fines first master trusts for chair's statement failures
The Pensions Regulator (TPR) has reaffirmed its determination to ensure trustees demonstrate good governance by fining four master trust schemes for not completing a chair's statement.
In the first fine of its kind, the professional trustee of Nurture Master Trust, MC Trustees was told to pay the maximum fine of £2,000 as there were no mitigating factors in the case. The firm did...
More on Law and Regulation
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.
EXCLUSIVE - Guy Opperman: Why we are consigning dozen-page pension statements to the dustbin
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
Second pensions bill expected in this parliament
A second pensions bill is likely during the “life of this parliament”, according to pensions and financial inclusion minister Guy Opperman.
Guy Opperman: Debate on AE contribution rates could take place in 2021
A “legitimate debate and discussion” is needed over future auto-enrolment (AE) contribution rates, says Guy Opperman, and that could take place next year.
Schemes must face the future to drive better outcomes
Julian Mund writes about planning for the future and the four challenges he sees for the pension industry over the next five years.
