A large number of pension schemes are falling short of The Pensions Regulator's (TPR) governance and trusteeship expectations, according to research by XPS Pensions.
The survey - which questioned more than 100 defined benefit schemes - revealed a wide range of standards across schemes and found 79% had identified issues with their members' data. TPR set its governance expectations in its 21st Century Trusteeship Campaign in 2017 but XPS' survey identified a lack of engagement and quality of governance among schemes. The regulator also this month launched a consultation on the future of trusteeship, with an aim to drive up standards. The survey also revealed just a fifth (22%) of schemes surveyed have a plan of action should their funding level fal...
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