Publication
Pensions Regulator provides suggestions to trustees to support DC savers
United Kingdom | Publication | January 2023
In a guidance statement aimed at DC trustees, the Regulator highlights the importance of engaging as soon as possible with affected savers to support them amid economic volatility and concerns that the value of some DC pots has fallen.
The Regulator wants trustees to:
- Strengthen the governance and oversight of their DC schemes to ensure investment strategies support stronger savings.
- Help DC savers so they are adequately supported while their pension pots fluctuate with the market.
- Communicate with members so they understand the consequences of a fall in the value of their savings, and avoid making quick decisions that could result in poorer retirement outcomes.
Information could be included with annual benefit statements, and continuous member communications might also help where benefits statements are not due soon.
The statement includes a checklist to help trustees implement their own action plan.
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