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The pensions regulator in the United Kingdom is vowing to take a “clearer, quicker, and tougher approach” to improve standards in the pensions industry, writes Michael Katz for Chief Investment Officer.
“The pensions landscape has been changing significantly,” TPR Chairman Mark Boyle is quoted saying. “In the coming year, you can expect to see us being more vocal about our expectations of those we regulate and intervening quickly and decisively through our wide-ranging regulatory activity and enforcement powers.”
In its corporate plan for 2018 to 2020, the regulator “summarizes how it will focus on key areas of activity, including improving standards of trusteeship and stewardship, authorizing master trust plans, and ensuring employers meet” their automatic enrolment duties, writes Katz.
“We continue to see changes in the wider pensions landscape that impact our organization and the industry, and create new challenges,” the report states. “The way we work will undoubtedly need to evolve further to reflect these and other ongoing developments in the sector.”
More: Regulator plans to increase budget to enforce auto-enrol rules.

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