Wind Up, Watchdog Tells Poorly Run Pension Schemes
Law360, London (July 2, 2019, 4:55 PM BST) -- The Pensions Regulator said on Tuesday that trustees having trouble running their schemes should dissolve them and transfer savers to better retirement plans, under proposals to make governance boards more accountable to retirees.
The watchdog wants to make trustees more reliable to help stamp out “badly-run” occupational pension schemes. It said it plans to remove the barriers that make it difficult for savers to move to another scheme if theirs is underperforming or being governed poorly.
The regulator, known as TPR, launched a consultation on Tuesday into proposals to introduce rules to force trustees to become accredited in an attempt to ensure...
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