Regulator warns pension schemes to prove value or wind up

The regulator warned the schemes they must prepare a more rigorous value for money assessment in line with regulations coming into force from next month (1 October). The regulations mean trustees of DC schemes with less than £100m in assets must compare their scheme's costs, charges and investment returns against three other schemes. They must also carry out a self-assessment of their scheme's governance and administration in line with seven key metrics. TPR has reminded schemes they must report the outcome of the assessment in their annual chair's statement and provide the regulat...