Barnet Waddingham partner comments on The Pension Regulator campaign

Commenting on The Pensions Regulator launching a campaign encouraging good governance and administration and better management of pension scheme risks, Paul Jayson says: “Whilst it must be right that trustees have adequate training and the ability to manage large amounts of other people’s retirement funds there could be unintended consequences of the increased governance requirements.  For example, many lay trustees feel increasingly out of their depth with the ever increasing requirements made of them and subsequently may step away from their appointments with a resulting loss of their talents in running schemes. “It would be helpful if the Regulator would be more specific about its concerns, based on examples of where things are going wrong. This would give trustees certainty of what was expected of them, rather than the general fear factor that pervades trusteeship currently.”

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