Pension regulator wants to cut funds from 150,000 to 100

Regulator wants to cut the number of pension plans. Pic: Pixabay

The pensions regulator wants to cut the number of corporate retirement plans from 15,0,000 to 100, according to a report in the Financial Times.

The move will put downward pressure on providers and asset managers to reduce fees.

Brendan Kennedy of theIrish Pensions Authority said that the country's corporate pension system needs to be overhauled in order to make it more "member-centred and efficient."

Kennedy said that the planned mergers would result in ...