Nick Reeve

3 weeks ago | pensions-expert.com | Nick Reeve

TPR announced yesterday (2 April) that it will work with professional trustee firms this year to address risks such as conflicts of interest. It plans to scrutinise profits and remuneration policies, sole trustee appointments, and the provision of additional services to pension schemes.

3 weeks ago | pensions-expert.com | Nick Reeve

It also plans to scrutinise profit and remuneration models and whether these could affect decision-making, such as by compromising services to reduce costs. The regulator will also explore sole trustee arrangements to better understand the reasons for appointments and what internal controls are in place. TPR announced today (2 April) that it will begin formally regulating professional trustee companies this summer as it seeks to understand the growing influence of the sector on pension schemes.

3 weeks ago | pensions-expert.com | Nick Reeve

The Social Market Foundation, a think tank, has called for the change to give DB pension scheme trustees confidence that they can invest to maximise surpluses for the benefit of members and employers. The government is due to announce its plans for freeing up DB scheme surpluses later this year. According to the Pensions Regulator, UK private sector DB schemes were 120% funded on aggregate on a technical provisions basis as of 30 September 2024.

3 weeks ago | pensions-expert.com | Nick Reeve

The institute has called for major reforms to support people in retirement to draw down from their pots sustainably, as well as expanding access to financial advice and guidance. The rise of DC as a proportion of people’s retirement savings now means that individuals “face too many complex and risky decisions through retirement”, the IFS said in a new report produced in partnership with Abrdn Financial Fairness Trust.

4 weeks ago | pensions-expert.com | Nick Reeve

In a letter to the prime minister and the chancellor, published this week, TPR’s chief executive Nausicaa Delfas said reducing the burden of unnecessary rules “should be a fundamental part of our role”. “Some burden in the system has been created by regulations that were devised in a different context, and could now be reviewed,” Delfas said.