The Pensions Regulator (TPR) is "playing catch-up" with automatic enrolment regulations brought in last year, the Daily Telegraph reports.
Experts warned both the Department for Work and Pensions (DWP) and TPR are understood to be "very concerned" about bosses selecting inappropriate plans for their staff in the rush to offer workplace pensions under auto-enrolment. The warning comes after last week's consultation from the regulator on suitable defined contribution pension set ups. Hargreaves Lansdown head of pensions research Tom McPhail told the Telegraph the regulations had not been thought through properly and introducing standards three months after the laws came into effect suggested confusion. "The DWP and TP...
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