TPR issues challenging questions to advisers

In a 57-page discussion paper ‘The governance of work-based pension schemes’ the pensions Regulator says research shows while 33% of schemes are using IFAs as an external adviser, 63% of these are using the same adviser as the employer. It says the Trustee Knowledge and Understanding (TKU) code, the scope of guidance and online trustee toolkit all cover the issue of understanding advice, but says it is considering new proposals to address this issue. The Regulator adds the governance discussion paper – which forms the third part of its medium term strategy - highlights the “pivotal role...