TPR lists principles to improve poor quality pension schemes

The watchdog urged the industry to comment on the set of principles (below), which it said would form the basis of its regulatory approach as auto-enrolment begins. The six points span the life cycle of a DC scheme, from scheme design and set-up through to ongoing management, including monitoring of governance, accountability, administration and member communication. TPR chief executive Bill Galvin said many schemes currently provide members with "poor value for money" and the situation needed to change. He said the body was keen to work with the pensions industry and other stakeho...