Pensions Regulator warns on forcing employees into DC schemes

It says growing numbers of employers are using incentives to encourage their defined benefit (DB) pension scheme members to choose other pension options. TPR's chairman, David Norgrove, has warned trustees it is unlikely to be in an employee's best interests to leave the DB scheme. "If a company is willing to encourage the transfer, the company's gain is likely to be the member's loss," Mr Norgrove said. "So my message today is clear - trustees should start from the presumption that such liability management exercises and transfers are not in member interests," he added. Norgrov...