Pension providers must be monitored closely by the government during the course of auto-enrolment and may need to be regulated by The Pensions Regulator (TPR), MPs say.
The Work and Pensions Committee report, Government Response to the Committee’s Eighth Report of Session 2010-12, published last week, said some providers’ schemes may not meet the criteria for auto-enrolment. The report said: “Providers are not currently required to register with TPR to ensure that they are eligible. This may represent a regulatory gap.” It added: “The government must monitor this situation closely. It should act to strengthen the minimum criteria for providers, or require providers to register with TPR, if it becomes clear some providers are not safeguarding the inte...
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