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Regulator publishes blog urging new DB models to support savers' interests
United Kingdom | Publication | May 2024
The Regulator’s latest blog encouraging innovation in the DB market to offer savers clear benefits and proper protections.
The blog points out that innovation is “fundamental to delivering better outcomes for savers”, but new market propositions should “provide both a clear benefit to savers, and also have the right protections around them”.
The blog goes on to say that the Regulator welcomes the recent higher profile of superfunds and hopes to see an emerging competitive superfund market. However, it urges caution about a possible new offering paying DB pensions to DC members transferring into such a new vehicle, as the regulatory and supervisory frameworks need to be properly developed.
The Regulator plans to develop its regulatory approach to DB alternative arrangements and publish new guidance on these arrangements to help trustees navigate them. It also expects trustees transferring members into a new type of scheme to engage with its market oversight team.
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