Trustees" trials and tribulations

In June 2003, Andrew Smith MP, Secretary of State for Work and Pensions, presented 'Action on occupa...

In June 2003, Andrew Smith MP, Secretary of State for Work and Pensions, presented 'Action on occupational pensions", which followed the DWP pensions proposals made the previous December. Two of the main points of the second paper are to make pension provision easier for employers and to allow choice for the employees. However, initial indications are that this legislation is likely to increase the burden on trustees. The document introduces not just a new regulator but a whole new system of regulation to tackle fraud, bad governance and poor administration. The new regulator will have po...