The Financial Reporting Council (FRC) has revised regulation around Statutory Money Purchase Illustration (SMPI) regulations to let providers use their discretion on assumptions relating to auto-enrolment increases and guaranteed annuity rates.
SMPIs must be provided to defined contribution members, to show their projected pension. More than 18m are issued each year. The revised actuarial standard, AS TM1, was published on 16 December after...
Jonathan Stapleton asks whether newly-accredited professional trustees should be a statutory fixture on pension scheme boards.
Savers are being warned by the Insolvency Service to guard their pension pots from investment scammers and negligent trustees as it winds up 24 companies.
Respondents say they should only be required in certain situations as the system is not broken.