Just six of the remaining 49 defined contribution master trusts have applied for authorisation to The Pensions Regulator (TPR) since its regime came into force last October.
According to the regulator's monthly update published today, another five master trusts have applied for authorisation since its last update in December. Legal and General confirmed to PP today (4 January)...
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