MPs launch probe into defined benefit pension regulation

The probe will consider the scope of TPR powers, the sustainability of the Pension Protection Fund (PPF), and the role and powers of trustees. It will also consider whether an "exceptional approach" to regulation is needed in an environment of historically low interest rates, especially after the Bank of England reduced the base rate to 0.25% last week. The Pensions and Lifetime Savings Association has called for TPR to take a "proportionate and flexible" approach to scheme funding after the rate cut, concerned of its impact on upcoming triennial valuations. The inquiry comes after...