Skip to main content
The Actuary: The magazine of the Institute and Faculty of Actuaries - return to the homepage Logo of The Actuary website
  • Search
  • Visit The Actuary Magazine on Facebook
  • Visit The Actuary Magazine on LinkedIn
  • Visit @TheActuaryMag on Twitter
Visit the website of the Institute and Faculty of Actuaries Logo of the Institute and Faculty of Actuaries

Main navigation

  • News
  • Features
    • General Features
    • Interviews
    • Students
    • Opinion
  • Topics
  • Knowledge
    • Business Skills
    • Careers
    • Events
    • Predictions by The Actuary
    • Whitepapers
    • Moody's - Climate Risk Insurers series
    • Webinars
    • Podcasts
  • Jobs
  • IFoA
    • CEO Comment
    • IFoA News
    • People & Social News
    • President Comment
  • Archive
Quick links:
  • Home
  • The Actuary Issues
  • April 2016
04

TPR to list group personal pensions open to all employers

Open-access content Wednesday 27th April 2016 — updated 5.50pm, Wednesday 29th April 2020

The Pensions Regulator (TPR) is to publish a list of group personal pensions (GPPs) open to any employers seeking to comply with their automatic enrolment duties.

2


TPR explained they believed well-run multi-employer master trusts and GPPs are the best choice for small and micro employers.

A list of independently reviewed master trusts that are open to all employers is already available on the employers' section of TPR's website.

The regulator encouraged GGP providers who are open to all employers to apply to appear on the list, which would help with increasing the choice of well-run schemes available.

The criteria for joining the GPP list have been published.

Executive director for regulatory policy Andrew Warwick-Thompson said: "The criteria for GPPs to appear on the new list are intended to mirror, as far as possible, the criteria for master trusts. 

"Crucially, this means that not only must GPPs be open to all employers but that providers will need to confirm that their independent governance committee or governance advisory arrangement has assessed the product on offer. TPR is producing a checklist for providers to use when submitting information."

Helen Ball, head of defined contribution at Sackers, said the list could be a "helpful tool" particularly for small and micro employers. 

"Such employers are often less supported by external advice, so this could make their decision more straightforward," she said.

Master trusts schemes are regulated by TPR while contract-based schemes are monitored by the Financial Conduct Authority (FCA). Ball noted there was collaboration between the two regulators.

She said: "In a wider sense, the GPP list is an interesting example of how the 'levelling' of the playing field between contract-based GPPs and trust-based master trusts is taking shape."

"While both are subject to different regulatory requirements, it is good to know that things are joining up behind the scenes, with TPR and the FCA working together in this. Their collaboration will help employers make sensible choices for automatic enrolment purposes from a TPR perspective, and also ties in with the question of 'value', which is being considered by independent governance committees, to meet FCA requirements."

This article appeared in our April 2016 issue of The Actuary.
Click here to view this issue
Filed in:
04
Topics:
Pensions

You might also like...

Share
  • Twitter
  • Facebook
  • Linked in
  • Mail
  • Print

Latest Jobs

Senior Underwriting Risk Manager

London (Central)
£85K-£95K + Benefits
Reference
124386

Reserving Manager (Contract)

London (Central)
£1200 - £1400 per day
Reference
124385

Life Actuary - Contract - IFRS 17 Financial Impact

England, London / England, Bristol / North Yorkshire, England
£900 - £1150 per day
Reference
124384
See all jobs »
 
 

Today's top reads

 
 

Sign up to our newsletter

News, jobs and updates

Sign up

Subscribe to The Actuary

Receive the print edition straight to your door

Subscribe
Spread-iPad-slantB-june.png

Topics

  • Data Science
  • Investment
  • Risk & ERM
  • Pensions
  • Environment
  • Soft skills
  • General Insurance
  • Regulation Standards
  • Health care
  • Technology
  • Reinsurance
  • Global
  • Life insurance
​
FOLLOW US
The Actuary on LinkedIn
@TheActuaryMag on Twitter
Facebook: The Actuary Magazine
CONTACT US
The Actuary
Tel: (+44) 020 7880 6200
​

IFoA

About IFoA
Become an actuary
IFoA Events
About membership

Information

Privacy Policy
Terms & Conditions
Cookie Policy
Think Green

Get in touch

Contact us
Advertise with us
Subscribe to The Actuary Magazine
Contribute

The Actuary Jobs

Actuarial job search
Pensions jobs
General insurance jobs
Solvency II jobs

© 2022 The Actuary. The Actuary is published on behalf of the Institute and Faculty of Actuaries by Redactive Publishing Limited. All rights reserved. Reproduction of any part is not allowed without written permission.

Redactive Media Group Ltd, 71-75 Shelton Street, London WC2H 9JQ