The Pensions Regulator (TPR) plans to tackle poor standards among smaller schemes with targeted enforcement action and possible consolidations, it has said.
TPR said some small and medium size pension schemes were found to have "major gaps" in the standards it expects. It seeks to tackle the issue by overhauling its communication with schemes and using "targeted...
'Necessary steps' taken
Penalty payments and enforcement policy
Fees as low as 0.04%
Client procurement costs ‘unsustainable’
Only 9,486 applied for the benefit in 12 months