From The Pensions Regulator:
Today the Pensions Regulator published new guidance and a
In line with the regulator’s approach to educate and enable, and to enforce only as a last resort, a new module to the
Bill Galvin, executive director for strategic development at the regulator said:
“In setting the framework for pension risk transfers, we have endeavoured to enable trustees and their sponsors to manage responsibly any transfer of this risk away from sponsor balance sheets.
“At all times, where the risk is transferred to another entity, trustees must be certain that there is no reduction in member security. Where the risk is transferred to the individual member, trustees must take all reasonable steps to ensure members understand the risk they are being asked to take on and the value of the benefit they are foregoing.”
The toolkit module is…