The Pensions Regulator (TPR) should monitor all defined contribution (DC) pension schemes - whether they are trust or contact based, a lobby group says.
The National Association of Pension Funds (NAPF) said the current regulatory framework for pensions must be reduced.
At present the Financial Services Authority (FSA) regulates contract-based DC, while TPR has responsibility for trust-based DC schemes.
Responding to the National Audit Office report on the effectiveness of TPR's DC regulation, NAPF's Darren Philp (pictured) said the current set up was "confused".
"The recommendations highlight the confusion created by our current regulatory structure, with no one department or regulator responsible for DC pensions. This creates confusion for practitioners and, most importantly, pension scheme members.
"We need to slim down the regulatory framework and have a single regulator for all workplace pensions.
"In our view The Pensions Regulator should be responsible for all DC pensions, whether trust-based or contract-based. Prudential regulation for insurance companies and pension providers would remain with the FSA."
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