PLSA comments on the Pensions Regulator’s review of value for member assessments in DC schemes

Commenting on the Pensions Regulator’s (TPR) Review of value for member assessments in defined contribution (DC) schemes (click here), Graham Vidler, Director of External Affairs, at the Pensions and Lifetime Savings Association, said:

“We welcome TPR’s review of value for member assessments in occupational DC schemes.  Assessing value is a critical part of trustees’ duty to the scheme and TPR is right to act on any concerns they may have.

“In our recent consultation “Hitting the Target” we called for a renewed regulatory focus on the quality of trustees in order to address the value for members challenge. We also called for further work on performance metrics such that value could be benchmarked between schemes on a consistent basis.

”We look forward to working with TPR to help them address one of the key risks that trustee boards need to manage – poor value for members.”  

PRESS CONTACTS:

Lee Blackwell, Head of Media and PR, Pensions and Lifetime Savings Association T: 020 7601 1726, M: 07713 073023, E [email protected]

Kathryn Mortimer, Press Officer, Pensions and Lifetime Savings Association T: 020 7601 1748, M: 07901 007713, E [email protected]

Eleanor Carric, PR Manager, Pensions and Lifetime Savings Association T: 020 7601 1718, M: 07825 171 446, E: [email protected]

NOTES TO EDITORS:

We’re the Pensions and Lifetime Savings Association; the national association with a ninety year history of helping pension professionals run better pension schemes. Our members include over 1,300 pension schemes with 20 million members and £1 trillion in assets, and over 400 businesses. They make us the voice for pensions and lifetime savings in Westminster, Whitehall and Brussels.

Our purpose is simple: to help everyone to achieve a better income in retirement. We work to get more money into retirement savings, to get more value out of those savings and to build the confidence and understanding of savers.