Pensions Watchdog Toughens Guidance For Scheme Trustees
By Alex Davidson (August 4, 2022, 5:58 PM BST) -- The Pensions Regulator published new tougher guidance on Thursday for scheme trustees who set objectives for consultants giving investment advice or inviting competitive bids as it prepares to take over monitoring responsibilities in October.
The watchdog will take over monitoring responsibility from the Competition and Markets Authority, which started requiring such tendering in 2019. The move follows concerns that trustees were not pushing the market to get the best value in the £2.5 trillion ($3 trillion) pensions industry
"Robust monitoring of a scheme's financial advisers can influence the effectiveness of its investment outcomes and ensure it is following long-term plans. It...
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