Are you sure your defined contribution company pension scheme is well run?
Would you be able to prove that to The Pensions Regulator?
The Pensions Regulator has published a guidance paper for employers operating ‘defined contribution’ pensions schemes. At this stage, the guidance serves to promote best practice but The Pensions Regulator does have a range of powers to intervene where there is significant or systematic poor practice that impacts on members’ benefits.
All schemes which have not been formally reviewed against what the market now offers for sometime could find that improvements could be made which will not just comply with The Pensions Regulator’s best practice – but which should make the scheme easier to run and more likely to provide its members with the opportunity to generate a meaningful level of income in retirement.
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