Sunday June 7, 2020

Plans to reform how pensions are managed

More information, clearer charges and closer supervision among proposals

18th July, 2016
Pensions changes needed, says authority Pic: Shutterstock

The Pensions Authority has published proposals for reforming the regulation of private pension schemes.

The authority has proposed a revised regulatory framework which includes higher standards for trustees of occupational schemes, as well as an authorisation process for new occupational pension schemes.

Its reforms also include closer supervision of pension scheme management, better information for members and more transparent charges and rationalisation of the number of pension savings vehicles.

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