Please see below for a reaction to the reforms from The Pensions Regulator (TPR).
Nausicaa Delfas, TPR’s Chief Executive, said: “These reforms support our ambition for pension savers to be in large, well-run schemes that deliver good outcomes at every stage of their retirement journey.
“They will drive a long-term focus on value, encouraging schemes to invest in the full range of asset classes to deliver higher returns for savers.
“The value for money framework will shine a light on schemes that consistently underperform, and new powers will allow us to enforce consolidation where necessary.
“Similarly, the expansion of collective defined contribution (CDC) schemes and introduction of a permanent regime for pensions superfunds all represent a welcome boost for innovation in savers’ interests.”
Notes for editors
- The Chancellor launched the reforms in a speech at London’s Mansion House on Monday (10 July).
- The Pensions Regulator is the regulator of work-based pension schemes in the UK. Our statutory objectives are to:
- protect members’ benefits
- reduce the risk of calls on the Pension Protection Fund (PPF)
- promote, and to improve understanding of, the good administration of work-based pension schemes
- maximise employer compliance with automatic enrolment duties
- minimise any adverse impact on the sustainable growth of an employer (in relation to the exercise of the regulator’s functions under Part 3 of the Pensions Act 2004 only)
Press contacts
Out of hours
This is for journalists only with a media enquiry. The below number will divert to our on call media officer.pressoffice@tpr.gov.uk
01273 648496
