Pensions Industry 'Creaking' Under Regulatory Burden

By Martin Croucher (November 22, 2021, 3:49 PM GMT) -- The pensions sector is struggling under the weight of a growing regulatory burden, a trade body warned on Monday, as companies in Britain find it increasingly difficult to attract individuals willing to act as trustees.

The Association of Consulting Actuaries said that 76% of 212 companies it surveyed said they expect trustees to resign in the face of increased paperwork. And 88% say they will struggle to find replacements for trustees that leave.

The warning comes after the introduction of wide-ranging legislation in the Pension Schemes Act. More regulation is also proposed, including rules to require pension plans to improve communication with members and administrative changes...

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