Pensions - Articles - FCA and TPR working together on pensions regulatory strategy


The Financial Conduct Authority (FCA) and The Pensions Regulator (TPR) are working together on a pensions regulatory strategy, which will set out how we will work together to tackle the key risks facing the pensions sector in the next 5-10 years.

 We will hold a series of events with stakeholders in London, Edinburgh and Manchester in the spring. These will broadly focus on two discussion areas led by the FCA and TPR:

 Our collective view of the current landscape of the sector and our respective regulatory remits
 Our likely key areas of focus in the coming years
 For those unable to attend, we will provide a webinar to facilitate further feedback.

 This work will also be informed by the FCA’s research and TPR’s ongoing ‘TPR Future’ program (link is external), as well as other factors such as the outcome of the Work and Pensions Select Committee’s inquiry into the pension freedoms and the impact of the Department for Work and Pensions’ review of automatic enrolment (link is external).

 The pensions landscape
 The last 5 years have seen significant change in the sector. For example, the introduction of the pension freedoms, which changed the way that people can access their retirement savings, and of automatic enrolment, which has seen more than 9 million people newly saving into workplace pension schemes.

 Regulating the sector - our approach
 For the FCA, this has meant making sure that our regulation provides the appropriate level of consumer protection and competition within this new landscape, whether this is through the establishment of Independent Governance Committees or ongoing work such as the Retirement Outcomes Review.

 For TPR, the focus has been on protecting workplace pension savers through a drive to improve standards of governance in schemes, ensuring schemes are being treated fairly by sponsoring employers, and that workers are enrolled into the pensions they are entitled to by employers as part of automatic enrolment.

 As part of our ongoing efforts to ensure the sector works well for consumers and workplace pension savers, we are working together on a pensions strategy which will look at how we will work together, and with stakeholders, in the coming years.

Back to Index


Similar News to this Story

Royal London ask Is it Time for the Care Pension
A new report published by mutual insurer Royal London offers a potential solution to the vexed issue of how to pay for long-term care. The paper, ‘Is
Aviva completes buy out of Sea Containers pension scheme
Aviva have announced the successful completion of a £187million bulk annuity buy-out deal which will see it insure the defined benefit pension liabili
GMP trustee checklist launched by PASA
The Pensions Administration Standards Association (PASA) launched its GMP checklist for trustees at the PASA Annual Administration Conference and Upda

Site Search

Exact   Any  

Latest Actuarial Jobs

Actuarial Login

Email
Password
 Jobseeker    Client
Reminder Logon

APA Sponsors

Actuarial Jobs & News Feeds

Jobs RSS News RSS

WikiActuary

Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.