Gov't Calls Time On Badly Run Small Pension Plans

Law360, London (September 14, 2020, 1:59 PM BST) -- The government has outlined regulation that will push small pension schemes to consolidate into larger funds if they are found not to be offering savers good value for money.

The Department for Work and Pensions said on Friday that it is concerned that small defined contribution saving plans with assets of £100 million ($128 million) or less were hampered by "persistent under-performance and poor governance."

New regulations, which went out for consultation on Friday, will require trustees to carry out reviews to establish whether members would be better served by having their investments in a bigger scheme.

"There remain large numbers...

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