Pensions Regulator warns against hybrid pension schemes

Jenna Towler
clock

Governance failings in hybrid pension schemes are putting members' benefits at risk, The Pensions Regulator (TPR) has warned.

A poll of 150 schemes with a combination of defined benefit (DB) and defined contribution (DC) features suggested trustees did not always understand their scheme's structure and the benefits it offered. This lack of understanding increased the risk of members receiving misleading communication or incorrect retirement benefits, the watchdog warned. TPR's poll also said half of schemes mixed their DB and DC assets together in the same bank account or investment fund, and in some cases these were not identified separately. From November the regulator said it will ask additional questi...

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

Join

 

Already a Professional Adviser member?

Login

More on uncategorised

Building Society-owned Newcastle Financial Advisers acquires Openwork firm

First of a number of acquisitions

Hannah Godfrey
clock 09 December 2019 • 1 min read

Bond managers fear hedges being undermined as liquidity dries up

The recent sell off in the bond market and growing liquidity issues have forced bond investors to use similar hedging techniques, undermining their effectiveness and causing concerns about how much downside protection funds really have.

Anna Fedorova
clock 03 July 2013 •

Police launch investigation into mortgage middleman fined £1m

West Midlands Police have launched a fraud investigation into a Birmingham financier over his role in sale and rent back agreements.

clock 25 June 2013 •