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
- Poor choices at retirement
Our Contract Based Governance Service was originally launched in 2008. This has recently been relaunched and procedures and processes have been updated and strengthened to reflect all the needs of the tPR, DWP and the Investment Governance Group (IGG).
Our aim, with the new product, is to deliver robust proactive default options and an environment where members can make informed choices. The advantage for employees is a greater chance of achieving their pension aspiration, the advantage for employers is happier staff who will be better motivated and so more profitable.
Please contact us for further information about our Services