TPR outlaws auto-enrolment into small DC and legacy schemes

Speaking at the NAPF trustee conference, TPR chairman Michael O'Higgins (pictured) said small DC and legacy schemes are unlikely to display the regulator's six principles and features of good DC and should not be used for auto-enrolment. He said small schemes do not benefit from economies of scale, while legacy schemes include higher administration costs that eat into members' pension pots. O'Higgins said: "The best outcome for individuals is to be auto-enrolled into high-quality, value for money schemes, benefiting from scale and good governance. "This simple truth is at the centr...