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TPR Faults Small Pension Schemes Amid Improvement Push

Law360, London (September 14, 2018, 10:54 PM BST) -- The U.K. pensions regulator on Friday turned up the heat on smaller defined contribution schemes, saying trustees were falling short in nine out of 10 plans and accusing them of “disappointing” progress on improving standards.

Trustees for only one in 10 small plans, which have up to 99 members, are doing everything necessary to secure value for retirees, The Pensions Regulator said in a statement. This includes trustees having a good knowledge of members’ costs and charges and carrying out an annual assessment of value delivered...
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