Workplace Pensions: Standards

(asked on 25th May 2021) - View Source

Question to the Department for Work and Pensions:

To ask Her Majesty's Government whether they currently impose, or intend to impose, any penalties on (1) employers, (2) scheme trustees, (3) pension providers, or (4) employer advisers, if automatic enrolment scheme members are contributing to a pension scheme which is unsuitable for them.


This question was answered on 8th June 2021

The government keeps all aspects of private pensions policy under review but there are no current plans to change the regulatory framework.

Employers have a duty to enrol their workers in a workplace pension scheme that is a qualifying scheme for automatic enrolment in accordance with the requirements set out in the Pensions Act 2008.

An automatic enrolment scheme must meet certain quality requirements. This is underpinned by the wider regulatory framework for all occupational and group personal pension schemes which helps to safeguard members’ pensions. Compliance and enforcement of these standards is the responsibility of The Pensions Regulator and the Financial Conduct Authority.

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