Pensions - Articles - CBI comments on Regulator's consultation on DC governance

 The CBI today commented on the launch of a consultation by the Pension Regulator on defined contribution (DC) pension governance.

 Neil Carberry, Director for Employment and Skills, said:

 "Auto-enrolment means many employers are providing employees with a pension scheme for the first time. Ensuring staff can choose a scheme with confidence is crucial to successfully delivering reforms.

 "It's important DC trustees are equipped to manage trust-based schemes so updates to training toolkits are a good idea.

 "It's right that the FSA and the Pensions Regulator are working closely together to avoid any confusion and duplication in the regulation of contract-based schemes.

 "Ultimately, however, the regulator needs to tread carefully, as developing high levels of saving in DC schemes, above the statutory level, depends on avoiding the over-regulation that damaged defined benefit schemes."