Avoiding over-regulation key to success of DC pension schemes
Neil Carberry (pictured), CBI Director for Employment and Skills on the launch of a consultation by the Pension Regulator on defined contribution (DC) pension governance…
Auto-enrolment means many employers are providing employees with a pension scheme for the first time. Ensuring staff can choose a scheme with confidence is crucial to successfully delivering reforms.
It’s important DC trustees are equipped to manage trust-based schemes so updates to training toolkits are a good idea.
It’s right that the FSA and the Pensions Regulator are working closely together to avoid any confusion and duplication in the regulation of contract-based schemes.
Ultimately, however, the regulator needs to tread carefully, as developing high levels of saving in DC schemes, above the statutory level, depends on avoiding the over-regulation that damaged defined benefit schemes.
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