FCA and TPR take steps to avoid pensions 'regulatory arbitrage'

Scott Sinclair
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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 pens...

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