Pensions Regulator Announces Initiative To Check Pension Savers Are Getting Value For Money – Retirement, Superannuation & Pensions
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Regulator published a press release announcing the
launch of a new initiative to check savers are getting value from
their pensions.
Under the initiative, the Regulator will be checking that
trustees of DC schemes with assets under management of less than
£100 million are complying with new value for members (VFM)
regulations that came into force in October 2021.
Taking a “data-led approach” in selecting schemes, the
Regulator will contact them about their VFM assessment, including
those that have indicated they have failed the assessment. The
initiative will then check that trustees have plans in place to
improve their assessments.
The Regulator intends to publish the results of its DC Survey
for 2022 (conducted from October 25, 2022, to December 21, 2022)
later in the year.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
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