Pensions Regulator Good Practice

Pensions Regulator Good Practice

The Pensions Regulator has published the first of a planned series of good practice guidance for trustees and the employer.  They said the guidance was part of its commitment to promoting the good running of defined contribution schemes and would cover retirement options and the open market option in occupational defined contribution schemes.  

TPR executive director of strategic development Chris Dobson said “The retirement options guidance will help employers and trustees ensure they have effective processes in place, and inform members so they are able to make the best possible choices on their retirement income”.  Future guidance will be issued in the coming months and these will be published on the regulator’s website as they become available.

Our view

Many trustees and employers are still not fully aware of their obligations when running a pension scheme.  This additional guidance will hopefully prove beneficial.

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