Pensions - Articles - Pensions Regulator comments on DWP Master Trust regulations


The Pensions Regulator (TPR) welcomes the Department of Work and Pensions’ (DWP) consultation on the regulation of master trusts.

 TPR has long called for much stricter regulatory controls on master trust schemes and voiced concerns over the current very low barriers to market entry.

 The Pensions Schemes Act 2017 gives TPR tough new powers to authorise and de-authorise master trust schemes.

 TPR believes that authorised master trusts will be the lynchpin in the development of a sustainable and safe occupational defined contribution (DC) schemes market.

 Nicola Parish, Executive Director of Frontline Regulation at TPR, said: “We welcome the publication of the draft regulations for master trust authorisation and I urge trustees and providers to take part in the consultation.

 “We have been in active discussions with the industry for more than 12 months and will publish a code of practice for consultation early next year on how authorisation will work and how the criteria should be met.

 “Our goal is to ensure those responsible for running and governing master trusts understand the requirements and are ready to apply for authorisation, which is expected from October 2018.”

Back to Index


Similar News to this Story

2025 is a key year for pensions to consider their endgame
Aon has said that 2025 is a key year for UK pension schemes and has formed the UK Endgame Strategy team to help schemes with the decision-making proce
How pension tweak could save employers thousands
National Living Wage increased this month from £11.44 to £12.21 per hour. Employer National Insurance (NI) has also risen and the threshold at which e
2024 pension contributions surge but gender gap widens
New analysis from PensionBee highlights a sharp increase in pension contributions in 2024, despite ongoing pressures on household budgets.

Site Search

Exact   Any  

Latest Actuarial Jobs

Actuarial Login

Email
Password
 Jobseeker    Client
Reminder Logon

APA Sponsors

Actuarial Jobs & News Feeds

Jobs RSS News RSS

WikiActuary

Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.