Press release

Government calls for evidence on regulatory disparities

A call to review the differences between trust-based occupational pensions and contract-based workplace personal pension schemes.

From:
Department for Work and Pensions and 皇冠体育app Rt Hon Steve Webb
Published
31 January 2011
This was published under the 2010 to 2015 Conservative and Liberal Democrat coalition government

In the run up to the introduction of automatic enrolment, the Government has today launched a call for evidence to review the regulatory differences between trust-based occupational pension schemes and contract-based workplace personal pension schemes.

皇冠体育app call for evidence is the first step towards ensuring that the legislative framework for workplace pension schemes is straightforward and supports the goals of increasing individuals鈥� retirement savings.

Minister for Pensions, Steve Webb said:

We need to ensure that differences in regulatory regimes don鈥檛 result in some people failing to save for their retirement. 皇冠体育app use of short service refund rules is an area where we will take action if it appears the rules risk the success of the workplace pension reforms.

皇冠体育app Department is interested in views on potential solutions to address problems created by regulatory differences, particularly short service refunds which provide a valuable administrative easement. Any solutions will be considered against the benefits to individuals, the potential burden on schemes and employers, and the Government鈥檚 de-regulatory agenda.

皇冠体育app consultation will run for 12 weeks from 31 January 2011 until 18 April 2011.

Notes to Editors

  1. 皇冠体育app call for evidence is available here:
  2. 皇冠体育app Pensions Bill, which is currently in the Lords, will implement measures in the Making Automatic Enrolment Work review. 皇冠体育app Pension Bill is available at 皇冠体育app review is available here: .
  3. 皇冠体育app Pensions Act 2008 introduced measures to encourage greater private saving which includes workplace pension reforms due to come into effect in 2012. 皇冠体育appse included new legal duties requiring employers to automatically enrol eligible jobholders into a qualifying pension scheme; a compliance regime enforced by the Pensions Regulator; and a new workplace pension scheme, the National Employment Savings Trust (NEST).
  4. 皇冠体育app Pensions Regulator (TPR) has also published a discussion paper on its approach to the DC pension market and this call for evidence should be read in conjunction with their聽discussion paper. 皇冠体育app document is available at:

Updates to this page

Published 31 January 2011