Anna Copestake comments in Pensions Expert on the Pensions Regulator turning up the heat on 99% failing small schemes
The Pensions Regulator continued to press for consolidation after its annual survey found 99 per cent of small schemes are missing statutory governance requirements.
The regulator urged smaller schemes to quit the market to make way for master trust expansion.
Anna Copestake explained that the regulator should not be afraid to use its powers to protect member savings.
Anna said: “For disengaged trustees at that end of the market, that’s where we really need to see a tougher regulator. We need them to roll their sleeves up and exercise their powers – whether that’s wind-up or appointing more-experienced trustees to the board.”
Read Anna’s comments in Pensions Expert
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