The Financial Conduct Authority (FCA) and The Pensions Regulator (TPR) are taking steps to ensure their approach to overseeing workplace pensions does not result in "regulatory arbitrage".
While TPR's main focus for defined contribution (DC) pensions is on the conduct of the trustees of trust-based schemes, the FCA said it works to ensure firms that provide contract-based schemes treat their customers fairly.
Though an identical regulatory approach across the two types of scheme is "not feasible", the organisations have produced a guide setting out how they aim to achieve consistency across their individual approaches.
TPR executive director for DC, governance and administration Andrew Warwick-Thompson said: "Retirement savers have a right to expect their workplace pension scheme, whether it is trust- or contract-based, is well-run and will deliver a good outcome.
"I can see no reason in principle why trust- or contract-based schemes should deliver different outcomes. However, joined-up regulation is essential to build equal confidence in both types of scheme."
FCA director of policy, risk and research Christopher Woolard added: "The introduction of automatic-enrolment has meant that more people than ever are being enrolled into DC schemes and many employers will not have had to consider these issues before.
"While both organisations already work together closely, as the new landscape takes shape it is more important than ever that there is a consistent approach between the two regulators."
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