Small schemes cost almost four times as much to run as big schemes and almost six times more than the largest funds, according to research from The Pensions Regulator (TPR).
The watchdog said defined benefit (DB) schemes with 12-99 members cost £1,054 a head annually, while for those with 1,000 to 4,999 members the figure fell to £281. The 25 schemes surveyed with 5,000...
PwC, KPMG, EY and Deloitte must break up their consultancy and audit businesses into distinct firms to provide greater focus on the "most challenging and objective audits", the competition watchdog has said.
The Department for Work and Pensions (DWP) has released its first batch of guidance setting out how the guaranteed minimum pension (GMP) conversion legislation may be used to resolve unequal payments.
This week's top stories include the government spending £800,000 on a Gogglebox advert and MPs writing to The Pensions Regulator about its engagement with the Railways Pension Scheme.