Mandatory tenders for fiduciary management services should be conducted on a closed basis with no minimum threshold for the number of managers involved, the Pensions and Lifetime Savings Association (PLSA) says.
The trade body said these tenders should be aided by the introduction of a regulator-created ‘checklist' for trustees, who should then produce "light-touch, formal documentation" on the process and decision...
The Pensions Regulator (TPR) has set out plans to use "new regulatory initiatives" with over 1,000 schemes as it aims to tighten its regulatory grip and boost member outcomes.
HM Revenue and Customs (HMRC) has announced it is delaying the provision of data that will enable pension schemes to confirm the guaranteed minimum pension (GMP) benefits to pay to members until the end of the year.
This week's top stories include an article on climate activists from Extinction Rebellion crashing the PLSA's local authority conference, and an in-depth piece on the Court of Appeal's ruling on the BIC UK Pension Scheme case.
Engagement in pensions is rising but there are still a number of barriers to overcome. Natanje Holt looks at the key issues that need to be tackled