FSA should lose responsibility for contract-based DC - NAPF

The National Association of Pension Funds (NAPF) said the current regulatory framework for pensions must be reduced. At present the Financial Services Authority (FSA) regulates contract-based DC, while TPR has responsibility for trust-based DC schemes. Responding to the National Audit Office report on the effectiveness of TPR's DC regulation, NAPF's Darren Philp (pictured) said the current set up was "confused". "The recommendations highlight the confusion created by our current regulatory structure, with no one department or regulator responsible for DC pensions. This creates conf...