DWP issue draft regulations on MNTs

Reforms are made under the powers in sections 241 to 243 of the Pensions Act 2004, tackling three areas including: Exemptions from the requirement to provide for a minimum of one-third member-nominated trustees or member-nominated directors; Modifications to the requirements in specific circumstances, and Transitional arrangements for moving from the current regulatory regime to the new Pensions Act 2004 requirements. Moreover, the document provides further comment on the government’s intention to move to a minimum of 50% member-nominated trustees or directors, first proposed last ye...