Response to The Pension Regulator's 'Annual DC Trust' Report
The TPR's 'Annual DC Trust' report highlights the changing shape of the market to the benefit of pension savers.
Commenting on The Pension Regulator's Annual DC Trust Report, Darren Philp, director of policy and communications at Smart Pension, said:
"Mastertrust authorisation and The Regulator’s efforts to raise standards across all schemes is changing the shape of the market and driving consolidation. This will only be of benefit pension savers.
"If we are auto enrolling people into a pension it's only right that we make sure that schemes have scale and good governance, provide value for money and the security to ensure scheme members' savings are protected. Further consolidation is inevitable as The Regulator continues to raise standards and expects the whole occupational sector to up its game."
About Smart Pension
Launched in 2015, Smart Pension now exceeds £6bn in Assets Under Management (AUM) and serves over 1.4 million members and more than 70,000 employers. It is powered by Keystone, Smart’s global savings and investments technology platform.
Aquiline, Barclays, Chrysalis Investments, DWS Group, Fidelity InternationalStrategic Ventures, J.P. Morgan, Legal & General Investment Management, MUFG and Natixis Investment Managers are all investors in Smart Pension.