Pensions - Articles - TUC backs Committee call for workplace pension changes


 Responding to the Work and Pensions Select Committee's report on improving governance and best practise in workplace pensions published today, TUC General Secretary Frances O'Grady said:

 'With millions more people saving into workplace pensions, this report rightly indentifies several key changes needed to prevent staff from losing out.

 'The TUC supports the call for the government to ban deferred member and consultancy charges. We also share the select committee's concern that the government's 'pot follows member' approach to staff with savings moving jobs could be detrimental for consumers.

 'The committee is also right to call for a rethink of the regulatory structure. The growth of auto-enrolment and the growing overlap between regulators means that a tougher but simpler structure will make it easier for good schemes to comply and harder for poor schemes to slip through the gaps.'

 'One of the priorities for regulators must be to strengthen governance arrangements in DC pension schemes. We strongly support the committee's call for workplace governance committees in the absence of trustee oversight. Giving members a voice in how their scheme is managed should be a key objective.'

Back to Index


Similar News to this Story

Pension transfer petition nears deadline
Pension savers are being urged to act now as the clock ticks on a parliamentary petition designed to stop unnecessary delays when people seek to move
Funding steady as December caps positive 2025 for DB schemes
Fully hedged scheme sees small funding level decrease over December. 50% hedged scheme does not change funding level between month ends. Both schemes
Pension value to be put under the spotlight
Pension schemes will need to publish clear data on their performance, costs and quality of service, under proposals announced today by the Financial C

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.