FCA and TPR take steps to avoid pensions 'regulatory arbitrage'

While TPR's main focus for defined contribution (DC) pensions is on the conduct of the trustees of trust-based schemes, the FCA said it works to ensure firms that provide contract-based schemes treat their customers fairly. Though an identical regulatory approach across the two types of scheme is "not feasible", the organisations have produced a guide setting out how they aim to achieve consistency across their individual approaches. TPR executive director for DC, governance and administration Andrew Warwick-Thompson said: "Retirement savers have a right to expect their workplace pens...