The Pensions Regulator : Six principles for good workplace DC

6 December 2011 The Pensions Regulator has today released its six principles for the design and governance of workplace defined contribution pension schemes in a presentation to the NAPF Trustee Conference. In brief, the six principles are as follows: Schemes are designed to be durable, fair and deliver good outcomes for members A comprehensive scheme governance framework is established at set-up, with clear accountabilities and responsibilities agreed and made transparent. Those who are accountable for scheme decisions and activity understand their duties and are fit and proper to carry them out. Schemes benefit from effective governance and monitoring through their…

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The Pensions Regulator : Helping trustees understand risks in hybrid pension arrangements

25 October 2011 The Pensions Regulator today published a statement on “Helping trustees understand risks in hybrid pension arrangements”. Based on a survey that the Regulator carried out earlier in 2011, the paper highlights the need for a proper understanding of the characteristics of individual schemes (given the lack of homogeneity in this sector, this is understandable) along with key risks facing trustees: governance, member communications, benefit segregration and calculation, investment risk and provision of statutory retirement options. External link

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The Pensions Regulator : The role of trustees in DC schemes

13 October 2011 The Pensions Regulator today published a paper on “The role of trustees in DC schemes”. It works rather well in establishing the key differences in trustee duties for DC (asset protection, investment choice, cost structures and contributions) as opposed to DB (payment of benefits and employer covenant). One key requirement is the need to be clear what the nature of the promise to DC beneficiaries is, the consequential duties on trustees and the powers and governance resposibilities that are adopted in the fulfillment of those duties. The paper is short and it is worth reading by all…

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  • Author: Martin Veasey
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