Small DB schemes 'lagging behind' well-run larger counterparts - TPR

TPR said smaller DB schemes tended to display "poorer governance standards" and have trustees who place less emphasis on assessing the fitness and proprietary of new trustee board members. It also found smaller schemes perform worse than their larger counterparts on meeting the principles of its funding code - in particular around taking and managing risk. TPR said it was stepping up its "proactive involvement" with smaller schemes, as part of its new regulatory approach, in order to assess their performance in key risk areas, which include governance, investment and funding. The regu...