Majority of UK occupational pensions are not compliant with rules, says Opra

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Up to 64% of occupational pension schemes in Britain are not compliant with the Pensions Act, the Oc...

Up to 64% of occupational pension schemes in Britain are not compliant with the Pensions Act, the Occupational Pensions Regulatory Authority (Opra) found in an extensive survey released this week. The watchdog, which randomly surveyed 1,000 schemes, says that although 36% of the schemes were fully compliant with the Pension Act, many of the remaining non-compliant schemes involved breaches of the regulations relating to improper documentation. The survey notes that although most schemes had appointed statutory reporters (an auditor and actuary), often the appointment documentation...

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