DC schemes must increase OMO awareness - regulator

In its latest statement, TPR has set out the role it expects trustees, employers, providers and advisers to fill to ensure defined contribution members know more about their options in retirement. Some DC pension schemes have never reviewed their retirement processes, while a third have not done so for the past three years, TPR research shows. The regulator says more needs to be done to raise awareness of the OMO and improve outcomes for pension fund members. TPR will launch a review of DC scheme retirement processes and literature, and has threatened to use its enforcement powers ...