Pensions - Articles - Annual DC survey supports the rhetoric big is better

TPR have distributed a press release on the ‘unacceptable’ scale of underperformance in small pension schemes revealed in this year’s Defined Contribution (DC) survey.

 Paul Leandro, Partner at Barnett Waddingham, believes the survey supports the rhetoric ‘big is better’.

 Paul said; “The survey results support the rhetoric that ‘big is better’, and together with the increasing level of governance requirements on trustees, it’s no surprise that 43% of small schemes are considering wind up. As the Master Trust Authorisation process nears its conclusion, we expect to see an increasing amount of DC assets flow to the Master Trust market.

 “However, trustees should take the selection of the receiving Master Trust seriously and should take time to consider the impact on members and ensure any pension scheme change improves the potential outcome for members – after all, decisions around where assets are held can have a direct impact on people’s lives in future.”

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