The timing of the government's review of defined contribution (DC) pension regulation could cause 'widespread confusion' for employers, warns shadow pensions minister Rachel Reeves.
The review into the difference in regulation between trust-based and contract-based schemes was announced on Monday and will last for 12 weeks. However, Reeves is concerned it will not be finised when MPs vote on the Pensions Bill. She says: "Lords and MPs will be asked to vote on crucial measures affecting the rules of auto-enrolment before seeing the results of this important review that will determine how it works in practice." The government is seeking ideas from stakeholders on preventing employers taking advantage of a regulatory loophole which allows them to claw back their ...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes