Jacqui Woodward says small schemes may struggle to deal with the myriad issues highlighted in TPR’s annual update.
Industry feedback on the contentious ‘employer resources test’ (ERT) is unlikely to significantly shift The Pension Regulator’s (TPR) approach to issuing contribution notices, it says.
Defined benefit (DB) pension schemes must stay alive to heightening risks to funding from sponsor covenants, climate change and longevity experience, The Pensions Regulator (TPR) says.
Trustees have been warned to keep an eye on weakening employer covenants even after a positive aggregate funding experience in the last three years as myriad funding and investment issues pose risks to defined benefit (DB) schemes.
Local Government Pension Scheme (LGPS) teams are under more administration pressure than ever with the raft of regulation and legislation such as McCloud, according to a Pensions and Lifetime Savings Association (PLSA) panel.
Many trustees are not fully aware of the new requirements of The Pension Regulator’s (TPR) combined code of practice, giving them little time to prepare for change, Barnett Waddingham says.
The Pensions Regulator’s (TPR) chief executive Charles Counsell has called on gig economy companies to offer pensions to eligible workers so they can have a decent standard of living in retirement.