Further to its previous report covered under our previous (catchy) post  ‘Are you sure that your defined contribution company pension scheme is well run?’, the Pensions Regulator published a further brief paper this month which praised the standards to which the ‘vast majority of schemes are well run by dedicated and hard-working individuals’.

It did go on to suggest that ‘For members of defined contribution (DC) schemes where members have more responsibility for the level of their eventual pensions, we encouraged review of investments, contributions and target retirement dates’. The paper also goes on to talk about the importance of member communication at this time in particular.

EBS prides itself on a high level of personal service and availability of advice for members of DC schemes, should you wish to review any of the aforementioned areas please get in touch.

STOP PRESS:
The Pensions Regulator issued a further bulletin in July 2009 restating the need for high levels of member engagement in light of the economic downturn with specfic focus on educating those approaching retirement about their full range of options.

Again though, the Regulator restates the responsibility of the employer ‘for regularly monitoring charges, reviewing scheme administration and investment options, producing effective member communication and checking that the scheme continues to meet the needs of their workforce.’

EBS is currently able to offer extremely attractive terms on stakeholder & group personal pension schemes which fufill each of the Regulators criteria for effective scheme design. For an initial assessment of your current arrangements and requirements, please get in touch.

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