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The Pensions Dashboard Programme (PDP) has launched a call for input on the information that pension schemes will need to supply to pensions dashboards. In preparing our response to this Call for Evidence, PMI conducted a membership survey. This ran for two weeks and received 125 responses.
Following detailed consultation with relevant stakeholders, in its white paper'ProtectingDefined Benefit Pension Schemes', the government concluded that'the system is currently working well for the majority of Defined Benefit schemes, trustees and sponsoring employers'.Further, the government set out its intentions in relation to its approach for the future of the system:'…we are clarifying the rules and expectations…but not otherwise making fundamental changes to the existing system.'
This call for evidence explored the effectiveness of costs, charges and transparency measures in protecting pension member outcomes. The call for evidence period began on 25 June 2020 and ran until 20 August 2020.
PMI is the professional body which supports and develops those who work in the pensions industry. PMI offers a range of qualifications designed to meet the requirements of those who manage workplace pension schemes or who provide professional services to them. Our members (currently some 6,000) include pensions managers, lawyers, actuaries, consultants, administrators and others. Their experience is therefore wide ranging and has contributed to the thinking expressed in this response.
Response from the Pensions Management Institute to TPR’s Consultation ‘Future of Trusteeship and Governance’
Response from the Pensions Management Institute to TPR’s Consultation ‘Draft guides to deliver the CMA’s recommendation to produce guidance to trustees of occupational pension schemes on engaging with investment consultants and fiduciary managers’