UK. PMI: Why a new pension system needs a new regulatory approach
The latest of the Pensions Management Institute’s (PMI’s) regular columns says the question is no longer how we regulate schemes, but how we regulate a system. For years, policymakers and the industry have anticipated defined contribution (DC) consolidation. That future has now arrived. Master trusts now dominate both DC membership and assets, smaller schemes continue to exit the market, and the landscape is increasingly shaped by a small number of large providers. Yet our regulatory framework still reflects an earlier,...
