'Mission Creep' Fears Raised Over Pension Regulator's Plan

Law360, London (August 28, 2020, 2:18 PM BST) -- A vital part of the U.K. pension watchdog's plan to overhaul funding arrangements for pension plans could suffer from "mission creep" if it is applied too broadly, broker Aon has warned.

The London-based broker said the so-called fast-track route for retirement saving schemes to get regulatory sign-off would go beyond its intended role and become a benchmark for other funding arrangements.

The Pension Regulator announced a shake-up in March, which would mean that defined benefit pension plans have the option to take two routes to gain regulatory approval for their funding plans.

Under the proposals, which are out for consultation until early...

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