Shock: gov't acts to limit red tape in pensions

Scottish Life’s head of pensions strategy says a little-mentioned European Union directive, the Institutions for Occupational Retirement Provision, IORP directive contains some contentious proposals relating to the way occupational schemes should be funded. ”The funding question is a big one and the DWP is looking carefully at how UK legislation should put into practice the broad IORP funding requirements that occupational pension schemes need to meet in order to comply,” Bee says. ”Whichever way you look at it, it will make trustees focus much more closely on the ongoing funding posi...