Beginner’s guide to DC governance
The Pensions Regulator says it will not accept two classes of scheme member – those that benefit from good DC governance and administration and those that do not. As part of its focus on 21st century trusteeship and governance, the Regulator is gearing up for a “targeted education and enforcement drive” during 2017.
In this BAC Briefing we provide an overview of what the Regulator expects from DC scheme trustees. We look back at the key developments during 2016, namely the introduction of a new DC code of practice and the Regulator’s consultation on 21st century trusteeship, before looking forward to what we can expect in 2017.
News for week ending 24 February
The long-awaited DB Green Paper emerges, the PPF consults on how to calculate the levy for a scheme with no sponsor, whilst Rathbone Brothers closes its DB schemes to future accrual.
News for week ending 17 February
Firefighters thwarted, steel workers accept Tata’s proposal, Diageo move from a DB to a CARE scheme, whilst Co-op Bank explores ways to reduce its capital requirements.
News for week ending 10 February
Supreme court ruling has implications for survivor’s pensions, 2017 AE review gets external advisory group whilst Regulator runs up £10 million of external costs.
News for week ending 3 February
Missing out on AE, three goes at the advice allowance and the Government’s failure to update its commutation factors.