Employers offering DC will have to be more responsible

The Pensions Regulator is looking to overhaul the governance of defined contribution pensions so that employers will be more answerable than they have been until now

The Pensions Regulator has taken it upon itself to look at defined contribution (DC) schemes and particularly the governance aspects. Trust-based DC schemes are subject to the same degree of governance as a defined benefit scheme with only minor differences revolving around funding. The Pensions Regulator wants to ensure that trustees have a firm understanding of DC administration, the investment offered and member understanding. What has this to do with contract-based schemes? The Pensions Regulator has suggested that it may look to extend the governance structure across contract-based sc...