New guidance for scheme trustees which aims to lower the risks faced by members has been published by the Pensions Regulator.
The organisation’s new internal controls guidance covers record-keeping, investment allocation and potential conflicts of interest among pension fund board members.
Also just published are online e-learning modules, through which the Pensions Regulator is aiming to improve public knowledge on the issues.
Poor administration at pension funds can reduce the scheme’s value, lowering savers’ chances of enjoying a good retirement income.
This could in turn have positive knock-on effects on the popularity of equity release plans.
Pensions Regulator chief executive Tony Hobman said: "Good governance underpins secure pensions – which is important because scheme members entrust their pension savings into the hands of others.
"Our focus on governance aims to enable all pension schemes to be more effective at managing risk."
The new publication comes as part of the Pensions Regulator’s ongoing campaign to improve scheme governance.
Posted by Tom Papworth
