Pension Administrators Warn Of Rising Burden Of Regulation

By Dawood Fakhir (June 21, 2022, 4:18 PM BST) -- Two in three pensions administrators have said the increasing volume of regulation is the main factor preventing them from providing high-quality service to consumers, a survey conducted by a government agency has shown.

Two-thirds of the 203 respondents in the survey identified the amount of legislative changes as the main barrier in the study, commissioned by The Pensions Regulator between November 2020 and January 2021, which included in-house and third-party administrators.

The regulator said on Friday that it had asked OMB research, an independent market-research agency, to carry out the study on its behalf.

Insurance company Aegon urged the government in...

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