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Pension trustees scrutinised on default investment governance

Pension scheme trustees are being scrutinised by The Pensions Regulator (TPR) in a new drive to ensure they are meeting their legal obligations and properly governing default arrangements.

Trustees of DC and hybrid occupational schemes providing money purchase benefits must review their default strategy every three years, or promptly after a significant change in investment policy or the demographic profile of relevant members. The review should consider how the return on investments in the default arrangement is in line with the trustee board’s aims and objectives for the default arrangement.

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