Bluefin pushes against over-regulation of active member discounts

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The Pensions Regulator (TPR) must not make "over-react" to active member discounts (AMDs) in pension schemes, Bluefin has warned.

AMDs are widely expected to be phased out once auto-enrolment reforms kick in. TPR also said in its latest paper for defined contribution (DC) trustees it does not consider AMDs appropriate for trust-based schemes. Robin Hames, head of technical, marketing and research at Bluefin said he supports the view on trust-based schemes, but warned the regulator not to take the same approach to contract-based schemes. "TPR needs to take a number of issues into account before taking such a broad brush approach to contract-based schemes such as group personal pensions (GPPs)," he said. "Th...

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