The trust-based defined contribution landscape remains composed of a vast number of small schemes that do not offer "value for money", according to The Pensions Regulator.
Statistics released by the watchdog show that of the 47,000 DC trust-based schemes, more than 90% have fewer than 12 members - 38,000 of which have just two to four members. And it said only 130 schemes...
More needs to be done to speed up DB to DC transfers but, as Jonathan Stapleton says, more also needs to be done to protect members.
The Pensions Ombudsman (TPO) took on 2,566 early resolution cases in 2018/19 after onboarding a team from The Pensions Advisory Service (TPAS), according to its annual report and accounts.
The lifeboat fund is in a good position despite reserves taking a £0.6bn hit. But the ramifications of the EU judgment on member compensation is an area of concern for CEO Oliver Morley, writes Stephanie Baxter