Contract Based Pension Governance

The Pensions Regulator has jurisdiction over the governance of contract based pensions (including Group Personal Pension Schemes). It has the power to intervene in that governance. The regulator is particularly concerned with:

• Lack of employee understanding
• Poor administration practice
• Poor investment practice
• Unduly high charges and

In addition, employers could and should look at the benefits to them of sponsoring a contract based pension scheme. The benefits include:

• Better motivated and so more productive staff
• Lower staff turn-over
• Easier staff attraction

PTL will take on all management responsibility for the scheme, ensuring compliance with the Regulator’s requirements and raising understanding of the scheme amongst staff.