Pensions Regulator brands OPT 'misleading' in letter

The OPT launched the initiative on Monday as an alternative to buyouts by insurance companies. As revealed by IFAonline yesterday, the regulator questionned the benefit of OPT for trustees but has now deemed it necessary to write to the firm. The letter from Tony Hobman, chief executive of the Pensions Regulator, to Ben Shaw, development director of OPT, attacks an earlier statement from the trust, which also suggests the regulator would not require a clearance statement when transferring pension scheme ownership. Hobman says: “Can I make it absolutely clear that the regulator does not...