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Pensions Regulator announces shift towards prudential-style of regulation
United Kingdom | Publication | 十二月 2024
The Regulator has announced plans to adopt a more prudential-style regulatory approach in response to the rapid growth of workplace pension schemes.
In a speech by Nausicaa Delfas, the Regulator’s Chief Executive, it was announced that within a decade, the master trust market is projected to include schemes of systemically important size, with seven schemes managing over £50 billion in assets and four exceeding £100 billion. This shift aligns with the Mansion House reforms and aims to address risks at both individual scheme and broader financial ecosystem levels.
The Regulator’s evolving strategy will focus on scheme investments, data quality, and trusteeship, putting in place a new regulatory toolkit that includes tiered master trust supervision, enhanced digital and data capabilities, and a pensions market innovation hub to guide safe product development.
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