Pensions Minister Stephen Timms pledged his support for the pensions pegulator yesterday and said the government and the regulator need to work together to ensure to promote effective regulation of the industry.
Meeting the regulator’s chair, David Norgrove, for the first time yesterday, Timms said the regulator has a function to ensure added security for over 10 million members of final salary schemes, while also establishing confidence in occupational pensions among both employers and employees. He added: “I have every confidence that the spirit of collaborative working that has enabled this organisation to be put in place will play an important part in helping to restore trust in occupational pensions.” In response, Norgrove said: “Following the introduction of the Pensions Act 2004, the ‘n...
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