Pensions - Articles - Trustees to review IC providers objectives flies under radar

 What was initially tabled as an expectation in the DWP’s June consultation outcome was instead legislated as a requirement, but has gone relatively unnoticed by the industry.

 André Kerr, Head of Fiduciary Management Oversight at XPS said: “Whilst many well-run schemes are already doing this, the new requirement for a review at least every 12 months may have gone under the radar for others. It is particularly relevant for schemes that use a fiduciary arrangement, given the low levels of ongoing oversight in the industry.
 
 “We welcome this development as it improves transparency in the industry and keeps monitoring against investment objectives centre stage. By requiring greater dialogue between consultants and clients, these changes will also help build stronger engagement and relationships between industry participants.”